709 E Chestnut Avenue
Santa Ana, CA 92701
- – beds
- – baths
- – sqft
- 6,848 sqft lot
- 1983 build
- – on site
The Chestnut Apartments is a turnkey, 12-unit apartment building located in the heart of Santa Ana. Built in 1983 and just minutes away from the historic Downtown District, this property represents one of the most attractive multifamily investment opportunities in the county. It boasts a compelling 6.2% CAP Rate based on current rental income. Further enhancing the investment potential, buyers have the option to assume the existing financing, which requires only a 30% down payment and features a below-market fixed interest rate that remains in effect through November 2029. This advantageous financing presents a rare opportunity to take advantage of positive leverage, dramatically increasing the cash-on-cash return. The Chestnut Apartments 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-theart exterior lighting, adding to the overall appeal. Previously, ownership had received full approval for the addition of three Accessory Dwelling Units (ADUs). These ADU's, once constructed, add a projected 29.7% increase in gross income.
Last checked:
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Last updated May 19, 2025
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MLS# PW25111635 —
The Building
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Year Built:1983
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Year Built Source:Assessor
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New Construction:No
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Building Area Total:7032.00
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Building Area Units:Square Feet
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Total Number Of Units:12
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# of Buildings:1
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Stories Total:3
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Entry Level:1
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Common Walls:No Common Walls
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# of Separate Gas Meters:12
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# of Separate Water Meters:1
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# of Separate Electric Meters:12
Interior
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Levels:Two
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Entry Location:Street
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Laundry:See Remarks
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Laundry:1
Location
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Directions:South of 1st Street and East of Main Street
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Latitude:33.74280200
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Longitude:-117.85910800
The Property
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Property Type:Residential Income
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Subtype:Apartment
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Zoning:R3
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Lot Features:Lot 6500-9999
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Lot Size Area:6848.0000
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Lot Size Acres:0.1572
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Lot Size SqFt:6848.00
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Lot Size Source:Assessor
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Additional Parcels:No
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Land Lease:No
Listing Agent
- Contact info:
- No listing contact info available
Taxes
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Tax Block:B
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Tax Census Tract:745.01
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Tax Tract:124
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Tax Lot:10
The Listing
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Special Listing Conditions:Standard
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Parcel Number:40407212
Utilities
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Sewer:Public Sewer
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Water Source:Public
The Community
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Subdivision:Other (OTHR)
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Subdivision:Other
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Features:Biking, Curbs, Park, Sidewalks, Street Lights
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Association:No
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Pool:None
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Senior Community:No
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Private Pool:No
Parking
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Parking Spaces:12.00
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Garage Spaces:12.00
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 |
|---|---|---|---|---|
|
5/19/25
May 19, 2025
|
Listed / Active | CRMLS_CA | $3,550,000 | |
|
6/6/24
Jun 6, 2024
|
Price Changed | CRMLS_CA | ||
|
1/31/24
Jan 31, 2024
|
Listed / Active | CRMLS_CA |
