NOT LISTED FOR SALE

412 N Baker St Santa Ana, CA 92703

Pico-Lowell Neighborhood
4 Beds
3 Baths
31,929 Sq Ft
0.49 Acres

Last Sold December 12, 2018

Last sale price $10,000,000 $313 Per Sq Ft

36 Days on Market

Highlights

  • 0.49 Acre Lot
  • Corner Lot
  • Laundry Room

About This Home

As of December 2018

The Tuscan Villas Apartments is a 38-unit, three-story, multifamily investment property located in the heart of Orange County in the city of Santa Ana. The subject property possess an ideal unit mix consisting of 100% two bedroom units: (32) 2 bedroom, 2 bath and (6) 2 bedroom, 1 bath. The two bath units have an unique floor plan where there is access to both bathrooms from a common hallway - ideal for two families or roommates. Most of the two bedroom, two bath unit configuration possess large covered 200 sf balconies, offering tenants a generous outdoor space. Other unit features: separate tenant gas/electric meters & separate hot water heaters, new remote car entry gate with ample parking (76 garage spaces) over two levels of subterranean parking and three on-site laundry rooms (one on each floor). The landlord also benefits from a fire sprinkler system with alarm monitoring that dramatically lowers the subject property insurance premiums; additionally, a 5-year fire sprinkler certification was recently completed in August 2017. The subject property has undergone additional upgrades in 2018 including: new exterior paint, new LED parking structure lighting, new LED exterior lighting, new car remote entrance gate, numerous remodeled units with substantially higher rents - huge estimated upside in rents of approx. 25% with a proforma cap rate of 5.0% and a proforma GRM of 12.5. Assumable $5.735M 30 yr loan at 3.875% fixed rate (for 4 more years) available.

Last Agent to Sell the Property

Ed Diaz

Vanguard Property Group License #01022469 Listed on: 07/25/2018

Last Buyer's Agent

Rick Applebaum

Morgan Skenderian License #01273871

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1988

Lot Details

  • 0.49 Acre Lot
  • Two or More Common Walls
  • Corner Lot

Parking

  • 76 Car Garage

Home Design

  • 31,929 Sq Ft Home
  • Property Attached

Bedrooms and Bathrooms

  • 4 Bedrooms
  • 3 Bathrooms

Laundry

  • Laundry Room
  • Leased Washer and Dryer

Listing and Financial Details

  • Tax Lot 1
  • Tax Tract Number 469
  • Assessor Parcel Number 00808230

Community Details

Building Details

  • 38 Separate Electric Meters
  • 38 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $13,836
  • Fuel Expense $1,221
  • Gardener Expense $1,800
  • Insurance Expense $5,000
  • Pest Control $1,920
  • Professional Management Expense $25,987
  • Trash Expense $10,805
  • Water Sewer Expense $16,512
  • Security Expense $6,540
  • New Taxes Expense $115,825
  • Operating Expense $269,387
  • Gross Income $654,680
  • Net Operating Income $365,652

Additional Features

  • 38 Units
  • Laundry Facilities

Property Details

Home Type

Multi-Family

Year Built

Built in 1988

Lot Details

0

Parking

76

Listing Details

  • CapRate: 3.60
  • Professional Management Expense: 25987.00
  • Property Attached: Yes
  • Security Expense: 6540.00
  • Subdivision Name Other: Bristol Place (BRSP)
  • Water Sewer Expenses: 16512.00
  • Property Type: Residential Income
  • Gardener Expense: 1800.00
  • Parcel Number: 00808230
  • Year Built: 1988
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: 2+ Common Walls
  • Price Per Square Foot: 313.19

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 76.00
  • Total Parking Spaces: 76.00

Utilities

  • Laundry: Yes
  • Laundry Features: Community
  • Pest Control Expense: 1920.00
  • Sewer: Public Sewer
  • Trash Expense: 10805.00
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Corner Lot
  • Lot Size Sq Ft: 21227.00
  • Lot Size Acres: 0.4873

Multi Family

  • Electric Expense: 13836.00
  • Fuel Expense: 1221.00
  • Gross Income: 654680.00
  • Gross Multiplier: 15.70
  • Gross Scheduled Income: 654680.00
  • Insurance Expense: 5000.00
  • Laundry Equipment Own Lease: Lease
  • Laundry Income: 5000.00
  • Lot Size Area: 21227.0000 Square Feet
  • Net Operating Income: 365652.00
  • Number Of Separate Electric Meters: 38
  • Number Of Separate Gas Meters: 38
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 38
  • Operating Expense: 269387.00
  • Rent Control: No
  • Total Expenses: 269387.00
  • Vacancy Allowance: 19640
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 115825.00
  • Tax Census Tract: 751.00
  • Tax Lot: 1
  • Tax Tract Number: 469

Range of Values:

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Sold Price
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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 Change Sq Ft Price
12/12/2018 12/12/18 Sold $10,000,000 -2.4% $313 / Sq Ft
07/25/2018 07/25/18 For Sale $10,250,000 +25.8% $321 / Sq Ft
06/27/2017 06/27/17 Sold $8,150,000 +8.7% $272 / Sq Ft
04/19/2017 04/19/17 Pending -- -- --
03/29/2017 03/29/17 For Sale $7,500,000 +33.5% $251 / Sq Ft
09/04/2013 09/04/13 Sold $5,620,000 +5.0% $188 / Sq Ft
07/18/2013 07/18/13 Pending -- -- --
07/01/2013 07/01/13 For Sale $5,350,000 -- $179 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Ed Diaz

    Seller's Agent in 2018

    Ed Diaz

    Vanguard Property Group

    (714) 900-0169

    30 Total Sales

    Section Image
  • Rick Applebaum

    Buyer's Agent in 2018

    Rick Applebaum

    Morgan Skenderian

    (949) 251-8800

    1 in this area

    64 Total Sales

    Section Image

  • K

    Seller's Agent in 2017

    Kiet Do

    KO TAI REALTY

    (626) 823-0067

    25 Total Sales

    Section Image
  • Tony Totrakam

    Seller Co-Listing Agent in 2017

    Tony Totrakam

    KO TAI REALTY

    (626) 589-9230

    10 Total Sales

    Section Image

  • M

    Buyer's Agent in 2013

    MAI DO

    KO TAI REALTY

    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW18169367

California Regional Multiple Listing Service (CRMLS)

California Orange County Santa Ana 92703 Pico-Lowell

412 N Baker St, Santa Ana, CA

This home is located at 412 N Baker St, Santa Ana, CA 92703 since 25 July 2018. This property was built in 1988. 412 N Baker St is a home located in Orange County with nearby schools including George Washington Carver Elementary School, Willard Intermediate School, and Santa Ana High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

California Regional Multiple Listing Service (CRMLS) The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.

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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