709 E Chestnut Ave Santa Ana, CA 92701
Pacific Park NeighborhoodEstimated payment $22,893/month
Total Views
7,506
--
Bed
1
Bath
7,032
Sq Ft
$505
Price per Sq Ft
Highlights
- No HOA
- Laundry Room
- Bike Trail
- Park
About This Home
The Chestnut Apartments is a turnkey, 12-unit apartment building located in the heart of Santa Ana. Built in 1983 and just minutes away from the historic Downtown District, this property represents one of the most attractive multifamily investment opportunities in the county. It boasts a compelling 6.2% CAP Rate based on current rental income. Further enhancing the investment potential, buyers have the option to assume the existing financing, which requires only a 30% down payment and features a below-market fixed interest rate that remains in effect through November 2029. This advantageous financing presents a rare opportunity to take advantage of positive leverage, dramatically increasing the cash-on-cash return.The Chestnut Apartments redefines urban living with spacious studio apartment, each generously proportioned to function as complete one-bedroom units. Enhancing the living experience, every unit is equipped with its own washer and dryer, offering tenants the convenience of in-home laundry facilities. Recent extensive interior renovations elevate the property to new heights, featuring luxurious materials, contemporary kitchens, stainless steel appliances, vinyl/plank flooring, upgraded bathrooms, and a range of other enhancements. The exterior of the property has undergone a fresh transformation with new paint and state-of-theart exterior lighting, adding to the overall appeal.Previously, ownership had received full approval for the addition of three Accessory Dwelling Units (ADUs). These ADU's, once constructed, add a projected 29.7% increase in gross income.
Listing Agent
Morgan Skenderian Brokerage Email: rma@morganskenderian.com License #01273871 Listed on: 05/19/2025
Co-Listing Agent
Morgan Skenderian Brokerage Email: rma@morganskenderian.com License #01942627
Property Details
Home Type
- Apartment
Year Built
- Built in 1983
Lot Details
- 6,848 Sq Ft Lot
- No Common Walls
Parking
- 12 Car Garage
Interior Spaces
- 1 Bathroom
- 7,032 Sq Ft Home
- 3-Story Property
- Laundry Room
Outdoor Features
- Exterior Lighting
Listing and Financial Details
- Legal Lot and Block 10 / B
- Tax Tract Number 124
- Assessor Parcel Number 40407212
- $3,186 per year additional tax assessments
Community Details
Overview
- No Home Owners Association
- 12 Units
Recreation
- Park
- Bike Trail
Building Details
- Rent Control
- 12 Separate Electric Meters
- 12 Separate Gas Meters
- 1 Separate Water Meter
- Electric Expense $3,060
- Fuel Expense $3,060
- Gardener Expense $1,200
- Insurance Expense $7,032
- Maintenance Expense $8,894
- Other Expense $2,965
- Trash Expense $3,060
- Water Sewer Expense $3,060
- New Taxes Expense $42,692
- Operating Expense $75,523
- Gross Income $305,652
- Net Operating Income $220,959
Map
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
Average Home Value in this Area
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 05/19/2025 05/19/25 | For Sale | $3,550,000 | -- | $505 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Similar Homes in Santa Ana, CA
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: PW25111635
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.
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
Nearby Homes
- 701 E Chestnut Ave
- 404 E Chestnut Ave
- 710 E 2nd St
- 704 Kilson Dr
- 300 E Chestnut Ave Unit 301
- 306 E Chestnut Ave Unit F
- 1000 E Bishop St Unit K2
- 265 N Standard Ave
- 611 S Orange Ave Unit 11
- 610 E 4th St
- 450 E 4th St Unit 414
- 450 E 4th St Unit 445
- 450 E 4th St Unit 316
- 450 E 4th St Unit 240
- 450 E 4th St Unit 110
- 450 E 4th St Unit 207
- 450 E 4th St Unit 124
- 120 E Pine St
- 253 N Bush St
- 718 N Santiago St
- 252 N Standard Ave
- 450 E 4th St Unit 334
- 450 E 4th St Unit 416
- 512 N Porter St
- 253 N Bush St
- 300 E Santa Ana Blvd
- 401 N Bush St
- 327 Normandy Place
- 401 N Main St
- 302 S Broadway Unit B
- 920 E Santa Ana Blvd
- 716 N Santiago St
- 301 W 2nd St
- 728 N Santiago St
- 888 N Main St
- 707 S Lyon St
- 100 S Zoo Ln
- 609 S Lyon St
- 600 W 3rd St Unit A317
- 627 S Lyon St