NOT LISTED FOR SALE
8 Beds
8 Baths
5,358 Sq Ft
9,335 Sq Ft Lot

Last Sold April 16, 2021

Last sale price $1,860,000 $347 Per Sq Ft

23 Days on Market

Highlights

  • All Bedrooms Downstairs
  • View of Trees or Woods
  • Colonial Architecture
  • Gated Community
  • Open Floorplan
  • Granite Countertops

About This Home

As of April 2021

Highly desirable well maintained 8-unit apartment complex, located in Henninger Park area of Santa Ana. This complex has low turnover and produces immediate cash flow with market rents, perfect for new investors. Featuring 8 spacious 1-bed / 1-bath units, on-site laundry facility, covered carports, and assigned parking. Some of the units have been renovated including; kitchen cabinets with granite or tile countertops, and the flooring is a combination of laminate, tile, or carpet. Walking distance to recently renovated Santa Ana Historic District, featuring restaurants, entertainment, shopping, easy access to public transit and schools. Pine Street's proximity to the 5 & 55 freeways, employment, area shopping malls, and just a few miles to the City of Tustin, makes this an ideal location for renters. This is an opportunity you won't want to miss.

Last Agent to Sell the Property

Shelly Hilliard

Coldwell Banker Realty License #01968101 Listed on: 12/23/2020

Coldwell Banker Realty

Last Buyer's Agent

Matthew Hoyt

Hoyt Real Estate, Inc. License #01426139

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1965

Lot Details

  • 9,335 Sq Ft Lot
  • Two or More Common Walls
  • Wrought Iron Fence
  • Density is up to 1 Unit/Acre

Property Views

  • Woods
  • Neighborhood
  • Courtyard

Home Design

  • Colonial Architecture
  • Property Attached
  • Turnkey
  • Brick Exterior Construction
  • Slab Foundation
  • Asphalt Roof
  • Stucco

Interior Spaces

  • 5,358 Sq Ft Home
  • 2-Story Property
  • Open Floorplan
  • Living Room

Kitchen

  • Gas Range
  • Granite Countertops
  • Tile Countertops
  • Formica Countertops

Flooring

  • Carpet
  • Laminate
  • Tile

Bedrooms and Bathrooms

  • 8 Bedrooms
  • All Bedrooms Down
  • 8 Bathrooms

Laundry

  • Laundry Room
  • Leased Washer and Dryer

Home Security

  • Window Bars
  • Security Lights
  • Fire and Smoke Detector

Parking

  • 2 Open Parking Spaces
  • 10 Parking Spaces
  • 8 Detached Carport Spaces
  • Parking Available
  • Assigned Parking

Accessible Home Design

  • No Interior Steps

Outdoor Features

  • Exterior Lighting
  • Rain Gutters

Utilities

  • Cooling System Mounted To A Wall/Window
  • Wall Furnace
  • Natural Gas Connected
  • Phone Available
  • Cable TV Available

Listing and Financial Details

  • Tenant pays for cable TV, electricity, gas
  • Legal Lot and Block 3 / F
  • Tax Tract Number 568
  • Assessor Parcel Number 40408502

Community Details

Overview

  • No Home Owners Association
  • 8 Units

Amenities

  • Outdoor Cooking Area
  • Laundry Facilities

Recreation

  • Bike Trail

Building Details

  • 8 Leased Units
  • Rent Control
  • 9 Separate Electric Meters
  • 9 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $563
  • Fuel Expense $1,066
  • Gardener Expense $1,200
  • Insurance Expense $1,870
  • Maintenance Expense $4,700
  • Trash Expense $1,800
  • Water Sewer Expense $1,827
  • New Taxes Expense $19,812
  • Operating Expense $32,838
  • Gross Income $142,427
  • Net Operating Income $109,589

Security

  • Gated Community

Property Details

Home Type

Multi-Family

Year Built

Built in 1965

Lot Details

0

Listing Details

  • Assessments: Yes
  • CapRate: 6.00
  • Property Attached: Yes
  • Road Frontage Type: City Street
  • Road Surface Type: Paved
  • Security: Gated Community, Security Lights, Smoke Detector(s), Window Bars
  • Subdivision Name Other: Henninger Park/ Eastside
  • View: Yes
  • Water Sewer Expenses: 1827.00
  • Architectural Style: Colonial
  • Property Condition: Turnkey
  • Property Type: Residential Income
  • Gardener Expense: 1200.00
  • Parcel Number: 40408502
  • Year Built: 1965
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: No
  • Interior Amenities: Formica Counters, Granite Counters, Open Floorplan, Tile Counters
  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Flooring: Carpet, Laminate, Tile
  • Accessibility Features: No Interior Steps
  • Appliances: Yes
  • Levels: Two
  • Price Per Square Foot: 347.14
  • Room Type: All Bedrooms Down, Kitchen, Living Room, Main Floor Bedroom

Exterior Features

  • Foundation: Slab
  • Exterior Features: Rain Gutters
  • View: Courtyard, Neighborhood, Trees/Woods
  • Fence: Yes
  • Fencing: Wrought Iron
  • Pool Private: No
  • Roof: Asphalt
  • Spa: No
  • Construction Materials: Brick, Stucco

Garage/Parking

  • Carport Spaces: 8.00
  • Parking: Yes
  • Parking Features: Assigned, Carport, Detached Carport
  • Total Parking Spaces: 10.00
  • Uncovered Spaces: 2.00

Utilities

  • Utilities: Cable Available, Electricity Connected, Natural Gas Connected, Phone Available, Sewer Connected, Water Connected
  • Heating: Yes
  • Laundry: Yes
  • Appliances: Gas Range
  • Heating Type: Wall Furnace
  • Laundry Features: Common Area, Community, Dryer Included, Washer Included
  • Sewer: Public Sewer
  • Trash Expense: 1800.00
  • Water Source: Public
  • Cooling: Wall/Window Unit(s)
  • Cooling: Yes

Condo/Co-op/Association

  • Association: No
  • Amenities: Outdoor Cooking Area
  • Senior Community: No
  • Community Features: Biking, Curbs, Street Lights

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 0-1 Unit/Acre
  • Lot Size Sq Ft: 9335.00
  • Lot Size Acres: 0.2143

Rental Info

  • Tenant Pays: Cable TV, Electricity, Gas

Multi Family

  • Electric Expense: 563.00
  • Fuel Expense: 1066.00
  • Gross Multiplier: 13.41
  • Gross Operating Income: 142427.00
  • Gross Scheduled Income: 145440.00
  • Insurance Expense: 1870.00
  • Laundry Equipment Own Lease: Lease
  • Laundry Income: 487.00
  • Lot Size Area: 9335.0000 Square Feet
  • Maintenance Expense: 4700.00
  • Net Operating Income: 109589.00
  • Number Of Separate Electric Meters: 9
  • Number Of Separate Gas Meters: 9
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 8
  • Number Of Units Total: 8
  • Operating Expense: 32838.00
  • Rent Control: Yes
  • Total Actual Rent: 12120.00
  • Total Expenses: 32838.00

Tax Info

  • New Taxes Expense: 19812.00
  • Tax Block: F
  • Tax Census Tract: 746.02
  • Tax Lot: 3
  • Tax Tract Number: 568

Range of Values:

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Value Increase
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Percent Increase
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Adjusted for Inflation
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
04/16/2021 04/16/21 Sold $1,860,000 -4.6% $347 / Sq Ft
01/15/2021 01/15/21 Pending -- -- --
12/23/2020 12/23/20 For Sale $1,950,000 +29.5% $364 / Sq Ft
01/31/2017 01/31/17 Sold $1,506,000 -1.2% $281 / Sq Ft View Prior Sale
11/09/2016 11/09/16 Pending -- -- --
10/10/2016 10/10/16 For Sale $1,525,000 +33.2% $285 / Sq Ft
12/07/2015 12/07/15 Sold $1,145,000 -4.6% $214 / Sq Ft View Prior Sale
10/15/2015 10/15/15 Pending -- -- --
10/07/2015 10/07/15 For Sale $1,200,000 -- $224 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: OC20261986

California Regional Multiple Listing Service (CRMLS)

APN: 404-085-02