Pine Apartments 415 W Pine St 6 Unit Apartment Building $1,995,000 ($332,500/Unit) 6.45% Cap Rate Santa Ana, CA 92701
INVESTMENT HIGHLIGHTS
- Highest Cap Rate on Market in Orange County
- Potential for 65% LTV; 6.9% Cash on Cash
- 6.5% Cap rate on current rents
- Turnkey Asset
EXECUTIVE SUMMARY
HIGHEST CAP RATE ON THE MARKET IN ORANGE COUNTY. 6 Units in PRIME Santa Ana. Located walking distance from multiple schools, parks, OC Civic Center and Historic Downtown Santa Ana! The Pine Apartments offer an investor STRONG in place cashflow, low maintenance renovated property condition, and low expense operations. All new tenants are on RUBS program, generating extra cashflow. The building contains one and two bedroom floor plans, including cottage style units with no shared walls.
Other amenities include: washer/dryer hookups, AC and Heating, Garage and Reserved parking, large private patios, dual pane windows, brand new kitchens and bathrooms, vinyl flooring, and private front and rear entries.
The buildings also has a massive basement that is currently unused and unrented!
Other amenities include: washer/dryer hookups, AC and Heating, Garage and Reserved parking, large private patios, dual pane windows, brand new kitchens and bathrooms, vinyl flooring, and private front and rear entries.
The buildings also has a massive basement that is currently unused and unrented!
PROPERTY FACTS
| Price | $1,995,000 |
| Price Per Unit | $332,500 |
| Sale Type | Investment |
| Cap Rate | 6.45% |
| Gross Rent Multiplier | 11.38 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 4,700 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1921 |
| Parking Ratio | 1.49/1,000 SF |
| Opportunity Zone |
Yes |
UNIT AMENITIES
- Air Conditioning
- Washer/Dryer Hookup
- Heating
- Kitchen
- Oven
- Tub/Shower
- Yard
- Deck
- Double Pane Windows
- Vinyl Flooring
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Online Services
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 2 | $2,095 | 582 |
| 2+1 | 4 | $2,454 | 591 - 875 |
1 of 1
Walk Score®
Walker's Paradise (92)
PROPERTY TAXES
| Parcel Number | 398-281-10 | Improvements Assessment | $117,232 |
| Land Assessment | $376,788 | Total Assessment | $494,020 |
ZONING
| Zoning Code | SD-40, Santa Ana |
