Address
1013 S Standard Avenue Santa Ana, CA
Price
$ 5,590,000
Property Attributes
  • ML#OC21048187
  • TypeIncome
  • CountyORANGE
  • CitySanta Ana
  • Zip92701
  • Style
  • Price$ 5,590,000
  • Bedrooms24
  • Full Bathrooms24
  • Half Bathrooms0
  • Lot Size0.36 Acres
Listing Provided Courtesy Of:
Greg Bassirpou with Marcus & Millichap RE Invest.
Data Source:
CRMLS
Property Description

The Standard Avenue Apartments are located in the City of Santa Ana, one of the strongest rental markets in Southern California. The City of Santa Ana is a historic city with a vibrant downtown located in Orange County. Built in 1958, the subject property offers a unit mix consisting of (24) one-bedroom/ one-bathroom units totaling 14,776 square feet, situated over two parcels totaling 15,764 square feet. The subject property has recently gone through an extensive exterior renovation and partial interior renovations. Some upgrades include but are not limited to new flooring, new kitchens, updated bathrooms, new roofs, new windows, new asphalt, new electric, and fresh interior and exterior paint. Common area amenities include a large courtyard, gated access, ample on-site parking, and a on-site, building-owned laundry facility. This offering represents a rare opportunity for an investor to achieve a 5% CAP Rate and 10.4% Cash-on-Cash/Total Return on current income for a stable, turnkey investment property in the desirable rental market of Santa Ana, California.

Price History
3/8/2021 Listed $5,590,000

General Features

Additional Parcels Y/N Yes
Community Features Storm Drain(s), Street Lights, Sidewalks
Levels Two
MLS Area 699 - Not Defined
Pool Features None
Property Type Residential Income
Sewer Public Sewer
Terms Cash, Cash to New Loan, Conventional, 1031 Exchange
Total Units 24
Water Sewer Expense 6250

Interior Features

Common Walls No Common Walls
Laundry Features Common Area

Exterior Features

Lot Features Landscaped, Near Public Transit
Lot Size Acres 0.36
Lot Size Area 15764
Lot Size Square Feet 15764
Lot Size Units Square Feet
Number of Buildings 2
Number of Separate Electric Meters 24
Number of Separate Gas Meters 24
Number of Separate Water Meters 2
Water Source Public

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Master On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Zip Code Average in 92701

Price
AVG $2.49M
$5.59M
Visits
AVG 172
22
Year Built
AVG 1933
1958
Walkscore
AVG 86
73
Data Provided by Walkscore ® not using MLS data

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