Santa Ana, CA 92701,415 W Pine ST
Santa Ana, CA 92701,415 W Pine ST
Santa Ana, CA 92701,415 W Pine ST
Santa Ana, CA 92701,415 W Pine ST
Santa Ana, CA 92701,415 W Pine ST
Santa Ana, CA 92701,415 W Pine ST
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$1,025,000

$1,350,000

24.1%
Est.Price: ?

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Est. payment /mo

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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California Regional MLS (CRMLS)
Listed by Tyler Leeson • Marcus & Millichap RE Invest • 714-713-9086
Bought with Tyler Leeson • Marcus & Millichap RE Invest
agent-avatar

michelle@michellehomesellingteam.com

515 S Myrtle Ave, Monrovia, CA, 91016, USA

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