$5,620,000
SOLD SEP 4, 2013
4 Beds
3 Baths
29,925 Sq Ft
0.49 Acres

Recently Sold

$188 Per Sq Ft

5% Above List Price

17 Days on Market

Highlights

  • 0.49 Acre Lot
  • Corner Lot
  • No HOA

About This Home

As of December 2018

Well maintained 38 units apartment located near Santa Ana Civic Center. 33 units with 2 bedrooms and 2 baths. The remaining 5 units have 2 bedrooms and 1 bath. The building has security camera, automatic fire-sprinkler system, central smoke alarm system, one elevator with new hydraulic pump. The building consists with two level of subterranean garages which has a total of 83 parking spaces. It also contains ventilation system in the lower level parking with audio-alarm system. The apartment is located 4 miles north of South Coast Plaza shopping center and about 1.2 miles from Santa Ana City College.

Last Agent to Sell the Property

Kiet Do

KO TAI REALTY License #01917495 Listed on: 07/01/2013

KO TAI REALTY

Co-Listed By

Tony Totrakam

KO TAI REALTY License #00708660

Last Buyer's Agent

MAI DO

KO TAI REALTY License #01711463

KO TAI REALTY

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

  • 83 Car Garage

Home Design

  • 29,925 Sq Ft Home
  • Property Attached

Bedrooms and Bathrooms

  • 4 Bedrooms
  • 3 Bathrooms

Listing and Financial Details

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

Community Details

Overview

  • No Home Owners Association
  • 38 Units

Building Details

  • 38 Separate Electric Meters
  • 38 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $10,000
  • Gardener Expense $2,400
  • Insurance Expense $15,000
  • Maintenance Expense $3,800
  • Pest Control $2,400
  • Professional Management Expense $24,000
  • Supplies Expense $6,000
  • Trash Expense $10,000
  • Water Sewer Expense $17,500
  • New Taxes Expense $70,000
  • Gross Income $43,390
  • Net Operating Income $297,646

Property Details

Home Type

Multi-Family

Year Built

Built in 1988

Lot Details

0

Parking

83

Listing Details

  • CapRate: 5.56
  • Professional Management Expense: 24000.00
  • Property Attached: Yes
  • Supplies Expense: 6000.00
  • Water Sewer Expenses: 17500.00
  • Property Type: Residential Income
  • Gardener Expense: 2400.00
  • Parcel Number: 00808230
  • Year Built: 1988
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: 2+ Common Walls
  • Levels: Three Or More
  • Price Per Square Foot: 187.80

Exterior Features

  • Pool Private: No
  • Spa: No

Garage/Parking

  • Garage Spaces: 83.00
  • Total Parking Spaces: 83.00

Utilities

  • Utilities: Sewer Connected
  • Pest Control Expense: 2400.00
  • Trash Expense: 10000.00
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Community Features: Sidewalks

Lot Info

  • Lot Features: Lot 20000-39999 Sqft, Corner Lot
  • Lot Size Sq Ft: 21227.00
  • Lot Size Acres: 0.4870

Multi Family

  • Average2 Bed Area: 785
  • Electric Expense: 10000.00
  • Gross Income: 43390.00
  • Gross Multiplier: 10.82
  • Gross Scheduled Income: 520680.00
  • Insurance Expense: 15000.00
  • Lot Size Area: 21227.0000 Square Feet
  • Maintenance Expense: 3800.00
  • Net Operating Income: 297646.00
  • 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: 197000.00
  • Rent Control: No
  • Vacancy Allowance: 26034
  • Vacancy Allowance Rate: 5.00

Tax Info

  • New Taxes Expense: 70000.00
  • Tax Lot: 1
  • Tax Tract Number: 469
  • Tax Year: 2012

Similar Homes in Santa Ana, CA

  • 317 S Flower St, Santa Ana, CA 92703

    $4,975,000

    • 1 Bed
    • 2 Baths
    • 10,350 Sq Ft
    • 317 S Flower St
    • Santa Ana, CA

    We are pleased to present Flower Street Apartments comprised of a 20 unit gated apartment complex located in the heart of Santa Ana. All of the units have been COMPLETELY renovated with approximately $500,000 spent over the last 5 years in both the interiors and exterior. The property is individually metered for both gas & electric and has their own water heater. Each unit has a large

    Ruben Khorsandi Alliance Investment RE Group

    Section Image
  • 935 W Bishop St, Santa Ana, CA 92703

    $4,375,000

    • 2 Beds
    • 1 Bath
    • 9,784 Sq Ft
    • 935 W Bishop St
    • Santa Ana, CA

    Pleased to present this fully renovated, 12-unit multifamily property located in the heart of Santa Ana, The offering presents a compelling investment opportunity with strong in-place cash flow and significant future upside. Built in 1971, the building consists entirely of spacious two-bedroom, one-bathroom units, each thoughtfully upgraded to meet modern tenant expectations. All interiors have

    Rick Applebaum Morgan Skenderian

    Section Image
  • 1416 N Spurgeon St, Santa Ana, CA 92701

    $4,300,000

    • 1 Bed
    • 2 Baths
    • 10,887 Sq Ft
    • 1416 N Spurgeon St
    • Santa Ana, CA

    VALUE ADD OPPORTUNITY! SUBMIT ALL OFFERS!!ONE OF THE CHEAPEST PRICE PER UNIT PROPERTIES IN SANTA ANA!!! We are pleased to offer for sale this well-located gated property in the highly desirable French Park neighborhood that's located in the North end of the Historic French Park neighborhood. This property is well located and next to an Elementary School, Shopping, Restaurants

    Ruben Khorsandi Alliance Investment RE Group

    Section Image
  • 717 N Garfield St, Santa Ana, CA 92701

    $6,450,000

    • 1 Bed
    • 2 Baths
    • 22,500 Sq Ft
    • 717 N Garfield St
    • Santa Ana, CA

    VALUE ADD OPPORTUNITY! ONE OF THE CHEAPEST PRICE PER UNIT PROPERTIES IN SANTA ANA!!! SUBMIT ALL OFFERS!! We are pleased to offer for sale this well-located gated property in the highly desirable Prime Historic French Park area. This property is also close to an Elementary School, Shopping, Restaurants for tenants, and the freeway. This gated community is located minutes to Downtown Santa Ana, the

    Ruben Khorsandi Alliance Investment RE Group

    Section Image

Range of Values:

Collateral Analytics

Collateral Analytics Collateral Analytics AVMs (Automated Valuation Model) employ a number of statistical approaches combined with neighborhood-specific comparable selection guarantees the most up-to-date and precise valuations.

Not Available

Collateral Analytics does not have data for the current month. Please view the chart for historical values.

ICE

ICE Mortgage Technology ICE Mortgage Technology’s AVM (Automated Valuation Model) is a state-of-the-art online residential property valuation tool that provides a quick and accurate estimate of the value of almost any home in the U.S.

Not Available

ICE Mortgage Technology does not have data for the current month. Please view the chart for historical values.

First American

First American First American Data & Analytics’ next-generation AVM combines unrivaled data assets with a blended ensemble of valuation models to produce highly accurate, reliable valuations you can trust.

Not Available

First American does not have data for the current month. Please view the chart for historical values.

Quantarium

Quantarium Quantarium’s valuation service, repeatedly proven the industry’s most accurate and comprehensive, is supercharged with a self-learning and auto-tuning AI engine that continually becomes smarter and more accurate as it processes daily inputs from the industry’s leading RE data lake.

Not Available

Quantarium does not have data for the current month. Please view the chart for historical values.

Average Value
Not Available
List Price
Sold Price
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area

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

  • Section Image
  • Section Image
  • Section Image
  • Section Image
  • Section Image
See All Agents

Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: WS13127670

California Regional Multiple Listing Service (CRMLS)