709 E Chestnut Ave Santa Ana, CA 92701
Pacific Park NeighborhoodEstimated payment $22,271/month
Highlights
- No HOA
- Bike Trail
- Laundry Facilities
- 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
Home Design
- Entry on the 1st floor
Interior Spaces
- 7,032 Sq Ft Home
- 3-Story Property
Bedrooms and Bathrooms
- Unit 1 Bedrooms: 0
- 1 Bathroom
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
Amenities
- Laundry Facilities
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
Home Values in the Area
Average Home Value in this Area
Tax History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| 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 | $32,648 | $2,621,808 | $1,872,720 | $749,088 |
| 2024 | $31,791 | $2,570,400 | $1,836,000 | $734,400 |
| 2023 | $30,996 | $2,520,000 | $1,800,000 | $720,000 |
| 2022 | $23,399 | $1,822,743 | $1,018,593 | $804,150 |
| 2021 | $22,868 | $1,787,003 | $998,620 | $788,383 |
| 2020 | $22,896 | $1,768,680 | $988,380 | $780,300 |
| 2019 | $22,475 | $1,734,000 | $969,000 | $765,000 |
| 2018 | $18,733 | $1,435,752 | $801,108 | $634,644 |
| 2017 | $18,569 | $1,407,600 | $785,400 | $622,200 |
| 2016 | $18,214 | $1,380,000 | $770,000 | $610,000 |
| 2015 | $10,129 | $658,227 | $119,109 | $539,118 |
| 2014 | $9,947 | $645,334 | $116,776 | $528,558 |
Property History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 05/19/2025 05/19/25 | For Sale | $3,550,000 | -- | $505 / Sq Ft |
Purchase History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Grant Deed | $2,520,000 | Commonwealth Land Title | |
| Grant Deed | $1,700,000 | North American Title Co Inc | |
| Grant Deed | $1,380,000 | North American Title Company | |
| Individual Deed | $525,000 | Investors Title Company | |
| Interfamily Deed Transfer | -- | -- |
Mortgage History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $2,468,000 | New Conventional | |
| Closed | $2,133,000 | Construction | |
| Previous Owner | $1,050,000 | Purchase Money Mortgage | |
| Previous Owner | $560,000 | Negative Amortization | |
| Previous Owner | $600,000 | Commercial | |
| Previous Owner | $650,000 | Commercial | |
| Previous Owner | $450,000 | Commercial | |
| Previous Owner | $150,000 | Commercial | |
| Previous Owner | $60,000 | Commercial |
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
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