$1,025,000
$1,350,000
24.1%For more information regarding the value of a property, please contact us for a free consultation.
6,969 Sqft Lot
SOLD DATE : 08/02/2024
Key Details
Sold Price $1,025,000
Property Type Condo
Sub Type Apartment
Listing Status Sold
Purchase Type For Sale
Subdivision ,Heningers
MLS Listing ID OC24103182
Sold Date 08/02/24
HOA Y/N No
Year Built 1922
Lot Size 6,969 Sqft
Property Description
415 West Pine Street is a 6-unit multifamily investment property located in Santa Ana, California. The property has a market CAP rate of 8.24% and a market GIM of 8.82 on market rents. 415 West Pine Street offers six multifamily units across three buildings, with attractive amenities including a private yard or deck (select units) and in-unit laundry hookups (select units). Additionally, the property offers surface and garage parking, a highly desirable amenity for renters. 415 West Pine Street offers new ownership the opportunity to diversify the unit mix and increase potential rental income through the development of an accessory dwelling unit (ADU) on the existing private yard. 415 West Pine Street is located in an optimal Santa Ana location, just south of Downtown Santa Ana and the plethora of retail, dining, and entertainment options along 4th Street. The property is situated just steps away from Heninger Elementary School and Santa Ana High School, providing an attractive draw for families looking to be in close proximity of educational centers. Additionally, the property is within walking distance to everyday needs at Downtown Plaza, a Food 4 Less anchored retail center. Furthermore, the property benefits from its close proximity to Interstate 5 and State Route 55, connecting residents to employment hubs throughout Southern California. Given its optimal Santa Ana location, the property offers an investor the ability to capture quality tenants seeking a convenient location with access to a wide variety of area amenities. This overall demand for well-located apartments will be a key driver in the continued growth at 415 West Pine Street.
Location
State CA
County Orange
Area 69 - Santa Ana South Of First
Zoning R3
Interior
Fireplace No
Laundry Washer Hookup, Electric Dryer Hookup
Exterior
Garage Spaces 4.0
Garage Description 4.0
Pool None
Community Features Curbs, Gutter(s), Sidewalks
Total Parking Spaces 7
Private Pool No
Building
Lot Description Street Level
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 39828110
Energy Description 2032.0
Acceptable Financing Cash, Cash to New Loan, 1031 Exchange
Listing Terms Cash, Cash to New Loan, 1031 Exchange
Financing Cash to New Loan
Special Listing Condition Standard
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Bought with Tyler Leeson • Marcus & Millichap RE Invest
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