1401 S Standard Avenue, Santa Ana, CA 92707
- $2,150,000
- Sold Price
- $2,150,000
- List Price
- $2,295,000
- Closing Date
- Oct 12, 2023
- Status
- CLOSED
- MLS#
- OC23089123
- Year Built
- 1961
- Lot Size
- 10,181
- Acres
- 0.23
- Lot Location
- Landscaped, Near Public Transit
- Days on Market
- 119
- Property Type
- Multifamily
- Property Sub Type
- Apartment
- Stories
- Two Levels
Property Description
The Standard Avenue Apartments is a nine-unit apartment building 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 1961, the subject property offers an attractive unit mix comprised of three-, two-, and one-bedroom units totaling 6,589 square feet. Some amenities include gated entry, ample on-site parking, and an on-site laundry room. Some recent renovations and upgrades include new floors, new bathrooms, updated kitchens, and fresh paint throughout. This offering represents a rare opportunity for an investor to achieve a 6.05% CAP Rate and 5.76% Cash-on-Cash return, on current income, for a stable, turnkey investment property in the desirable rental market of Santa Ana, California. Additionally, The Standard Avenue Apartments are well suited to provide investors with strong returns and value appreciation over the long-term investment horizon.
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Additional Information
- Pool Description
- None
- Sewer
- Public Sewer
- Water
- Public
- Attached Structure
- Detached
- Number Of Units Total
- 9
- Gross Scheduled Income
- $193,032
- Operating Expense
- 51788
Listing courtesy of Listing Agent: Greg Bassirpou (gbassirpou@marcusmillichap.com) from Listing Office: Marcus & Millichap RE Invest.
Listing sold by Greg Bassirpou from Marcus & Millichap RE Invest
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Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.