Seller's Agent in 2025
Tyler Leeson
Marcus & Millichap RE Invest
(949) 419-3200
5 in this area
158 Total Sales
520 E Walnut St Santa Ana, CA 92701
Pacific Park Neighborhood
2
Beds
2
Baths
15,552
Sq Ft
0.48
Acres
Highlights
- 0.48 Acre Lot
- Laundry Room
- Level Lot
- No HOA
- Central Heating
About This Home
As of January 2025520 East Walnut Street is a 16-unit multifamily investment property located in Santa Ana, CA. Built in 1983, 520 East Walnut Street offers exclusively two-bedroom townhomes with private patios. The property features highly desirable amenities including in-unit laundry hookups, central A/C and heating, controlled pedestrian access, and a gated subterranean parking garage. Currently, there are 12 renovated or partially renovated units that feature high-quality upgrades including appliances, shaker-style cabinets, quartz countertops, plumbing fixtures, recessed lighting, and more. These improvements have allowed ownership to charge a significant rental premium over non-renovated units, with an average rent of $2,795 for the renovated units. Furthermore, current ownership has identified under-utilized community space that could further increase rental income and diversify the overall unit mix through the conversion of a storage room into an accessory dwelling unit (ADU). 520 East Walnut Street benefits from its excellent central Santa Ana location just south of Downtown Santa Ana and its bustling 4th Street, providing residents with convenient access to a plethora of retail, dining, and entertainment options. Additionally, the property is within walking distance of Downtown Plaza, granting residents easy access to everyday needs. 520 East Walnut Street is located within a 1-mile radius of all three levels of schooling, including Lowell Elementary School, Lathrop Intermediate School, and Santa Ana High School. Furthermore, the property is just over 1.50 miles from Santa Ana College, the 3rd top employer within the city per Santa Ana’s 2023 Annual Comprehensive Financial Report. Residents enjoy 520 East Walnut Street’s close proximity to Interstate 5 and State Route 55 as they connect residents to employment hubs throughout Southern California. Given the property’s high-quality unit finishes and close proximity to Santa Ana’s most popular destinations, 520 East Walnut Street is well suited to provide investors with strong returns over the long-term investment horizon.
Last Agent to Sell the Property
Marcus & Millichap RE Invest Brokerage Email: tleeson@marcusmillichap.com License #01451551 Listed on: 10/14/2024
Property Details
Home Type
- Apartment
Year Built
- Built in 1983
Lot Details
- 0.48 Acre Lot
- No Common Walls
- Level Lot
Parking
- 40 Car Garage
Home Design
- Entry on the 1st floor
Interior Spaces
- 15,552 Sq Ft Home
- 2-Story Property
Bedrooms and Bathrooms
- 2 Bedrooms
- 2 Bathrooms
Laundry
- Laundry Room
- Washer and Gas Dryer Hookup
Additional Features
- Rain Gutters
- Central Heating
Listing and Financial Details
- Tax Lot 1
- Tax Tract Number 10724
- Assessor Parcel Number 40408101
- $4,216 per year additional tax assessments
Community Details
Overview
- No Home Owners Association
- 3 Buildings
- 16 Units
Building Details
- Rent Control
- 16 Separate Electric Meters
- 16 Separate Gas Meters
- 1 Separate Water Meter
- Electric Expense $6,341
- Fuel Expense $6,341
- Insurance Expense $12,800
- Maintenance Expense $12,000
- Other Expense $25,416
- Professional Management Expense $16,700
- Trash Expense $6,341
- Water Sewer Expense $6,341
- New Taxes Expense $65,380
- Operating Expense $157,660
- Gross Income $491,712
- Net Operating Income $319,481
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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 |
|---|---|---|---|---|---|
| 01/23/2025 01/23/25 | Sold | $5,850,000 | -0.4% | $376 / Sq Ft | |
| 12/30/2024 12/30/24 | Pending | -- | -- | -- | |
| 10/14/2024 10/14/24 | For Sale | $5,875,000 | +18.1% | $378 / Sq Ft | |
| 08/30/2022 08/30/22 | Sold | $4,975,000 | -11.2% | $320 / Sq Ft | View Prior Sale |
| 06/21/2022 06/21/22 | Pending | -- | -- | -- | |
| 06/14/2022 06/14/22 | For Sale | $5,600,000 | -- | $360 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $60,687 | $5,175,990 | $3,953,520 | $1,222,470 |
| 2024 | $60,687 | $5,074,500 | $3,876,000 | $1,198,500 |
| 2023 | $59,191 | $4,975,000 | $3,800,000 | $1,175,000 |
| 2022 | $27,279 | $2,083,143 | $827,079 | $1,256,064 |
| 2021 | $26,667 | $2,042,298 | $810,862 | $1,231,436 |
| 2020 | $26,680 | $2,021,357 | $802,547 | $1,218,810 |
| 2019 | $26,199 | $1,981,723 | $786,811 | $1,194,912 |
| 2018 | $25,252 | $1,942,866 | $771,383 | $1,171,483 |
| 2017 | $25,035 | $1,904,771 | $756,258 | $1,148,513 |
| 2016 | $24,555 | $1,867,423 | $741,429 | $1,125,994 |
| 2015 | $24,243 | $1,839,373 | $730,292 | $1,109,081 |
| 2014 | $23,823 | $1,803,343 | $715,987 | $1,087,356 |
Source: Public Records
Agents Affiliated with this Home
-
Tyler Leeson
-
Duong Cao
Buyer's Agent in 2025
Duong Cao
DC Real Estate
(714) 627-3888
1 in this area
48 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: OC24212983
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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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