Seller's Agent in 2020
Rick Applebaum
Morgan Skenderian
(949) 251-8800
4 in this area
67 Total Sales
409 E Pine St Santa Ana, CA 92701
Pacific Park Neighborhood
3
Beds
2
Baths
10,200
Sq Ft
0.32
Acres
About This Home
As of August 2020We are pleased to offer 409-415 E. Pine Street, a 12-unit apartment investment opportunity located in the highly desirable rental market of Santa Ana. Built in 1983 and comprised of 1 & 2 bedroom units, the majority of them being 2 bedrooms. This low turnover asset operates extremely smoothly allowing a new investor to immediately produce cash flow with as little as a 35% down payment but still has exceptional upside potential through continued improvement of the interiors and the ability to increase rents. Nestled along a tree line street, the Pine Street apartments are ideally located within walking distance to the vibrant Downtown Santa Ana Historic District, recently re-imagined with over $150 million in upgrades bringing food halls, shopping, entertainment and new energy to the district with a perfect balance of old and new. Additionally, this property is located just over 2 miles to the City of Tustin, and close proximity to shopping malls, major employment & freeways offering ease of access to the best parts of the surrounding neighborhoods. All these attributes equate to a healthy supply of renters and long term tenants. Furthermore, the property is located within an “Opportunity-Zone” offering additional tax advantages for upgrading the property making 409-415 E. Pine Street a sound investment for years to come.
Last Agent to Sell the Property
Morgan Skenderian License #01273871 Listed on: 07/21/2020
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1983
Lot Details
- 0.32 Acre Lot
- No Common Walls
- Density is 11-15 Units/Acre
- 404-086-10
Interior Spaces
- 10,200 Sq Ft Home
- 2-Story Property
- Laundry Room
Bedrooms and Bathrooms
- 3 Bedrooms
- 2 Bathrooms
Parking
- 12 Parking Spaces
- 12 Carport Spaces
Outdoor Features
- Exterior Lighting
Listing and Financial Details
- Legal Lot and Block 9 / E
- Tax Tract Number 568
- Assessor Parcel Number 40408609
Community Details
Overview
- 2 Buildings
- 12 Units
Amenities
- Laundry Facilities
Building Details
- Rent Control
- 13 Separate Electric Meters
- 13 Separate Gas Meters
- 2 Separate Water Meters
- Gardener Expense $1,200
- Insurance Expense $3,570
- Maintenance Expense $13,732
- Other Expense $15,467
- New Taxes Expense $36,105
- Operating Expense $73,748
- Gross Income $2,400
- Net Operating Income $137,518
Create a Home Valuation Report for This Property
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 08/26/2020 08/26/20 | Sold | $3,100,000 | -3.1% | $304 / Sq Ft | |
| 08/17/2020 08/17/20 | Pending | -- | -- | -- | |
| 07/21/2020 07/21/20 | For Sale | $3,200,000 | +237.2% | $314 / Sq Ft | |
| 05/06/2014 05/06/14 | Sold | $949,000 | 0.0% | $186 / Sq Ft | View Prior Sale |
| 03/14/2014 03/14/14 | Pending | -- | -- | -- | |
| 03/06/2014 03/06/14 | For Sale | $949,000 | -- | $186 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History Compared to Growth
Agents Affiliated with this Home
-
Rick Applebaum
-
Paul Espinosa
Seller Co-Listing Agent in 2020
Paul Espinosa
Morgan Skenderian
(714) 206-2688
2 in this area
36 Total Sales
-
Mike Ferraiz
M
Buyer's Agent in 2020
Mike Ferraiz
The Kennedy Group
(714) 598-4818
10 Total Sales
-
Patrick Swanson
Seller's Agent in 2014
Patrick Swanson
Pat Swanson
(213) 864-2862
56 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: PW20144226
APN: 404-086-09
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Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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