8,132 Sqft Lot
8,132 Sqft Lot
Key Details
Property Type Single Family Home, Multi-Family
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
MLS Listing ID NP26007705
HOA Y/N No
Year Built 1983
Lot Size 8,132 Sqft
Property Sub-Type Mixed Use
Property Description
The Washington Apartments is a 14-unit apartment community located in the heart of Santa Ana. Built in 1983 and situated just north of the historic Downtown District, the property offers investors a high–cash-flow opportunity with significant upside potential. The property is attractively priced at a strong 5.9% cap rate based on current income, with local market rents supporting an estimated 8.9% pro forma cap rate.
The Washington Apartments features spacious studio units, each exceeding 700 square feet. Residents currently pay RUBS, contributing to efficient, low-expense operations. The property also provides multiple on-site common-area laundry machines for resident convenience, as well as 14 gated garage parking spaces located on the first floor.
Location
State CA
County Orange
Area 70 - Santa Ana North Of First
Interior
Fireplace No
Laundry Common Area
Exterior
Garage Spaces 14.0
Garage Description 14.0
Pool None
Community Features Suburban
Total Parking Spaces 14
Private Pool No
Building
Lot Description 16-20 Units/Acre
Story 3
Entry Level Three Or More
Sewer Public Sewer
Water Public
Level or Stories Three Or More
New Construction No
Others
Senior Community No
Tax ID 39853106
Acceptable Financing Cash, Cash to New Loan, 1031 Exchange
Listing Terms Cash, Cash to New Loan, 1031 Exchange
Special Listing Condition Standard
