709 E Chestnut Avenue
Santa Ana, CA 92701
- – beds
- – baths
- – sqft
- 6,848 sqft lot
- 1983 build
- – on site
Pleased to present 709 East Chestnut Avenue, an immaculate turn-key 12-unit apartment building. Built in 1983 and nestled in the heart of Santa Ana, just minutes away from the Historical Downtown District, this property stands as one of the most attractive multifamily investments in the entire county, boasting a compelling 6.2% Capitalization Rate (CAP rate) on current rental income. A rare opportunity to take advantage of positive leverage, allowing the investor to place a smaller down payment and increase the cash-on-cash return. 709 Chestnut 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-the-art exterior lighting, adding to the overall appeal. A noteworthy aspect of the Chestnut Apartments is the Planning Department Approval secured by the current ownership for the addition of three Accessory Dwelling Units (ADUs). With building approval expected imminently, the new owner stands to benefit from the construction of three additional units, translating to a projected 28.5% increase in gross income.
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Last updated Jan 31, 2024
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MLS# PW24022552 —
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Transit Score®
Provided by WalkScore® Inc.
Transit Score measures a location's access to public transit. It is based on nearby transit routes frequency, type of route (bus, rail, etc.), and distance to the nearest stop on the route. Transit Scores range from 0 (Minimal Transit) to 100 (Rider’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
1/31/24
Jan 31, 2024
|
Listed / Active | CRMLS_CA | $3,480,000 |