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$ 1,500,000
Est. payment | /mo
0.3 Acres Lot
$ 1,500,000
Est. payment | /mo
0.3 Acres Lot
Key Details
Property Type Apartment
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID PW26165315
HOA Y/N No
Year Built 1950
Lot Size 0.300 Acres
Property Sub-Type Apartment
Property Description
We are pleased to present the opportunity to acquire a multifamily asset located at 1735 W. Washington Avenue in Santa Ana. The property consists of four (4) units situated on an expansive ±13,068 SF lot, featuring a unique unit mix of (2) detached two-bedroom, one-bathroom single-family homes and (1) duplex comprised of (2) one-bedroom, one-bathroom units. The property is occupied by long-term tenants, providing consistent rental income with significant upside through strategic asset management, renovation of the existing improvements, and the repositioning of rents over time. Investors also have the opportunity to further enhance cash flow through the implementation of a RUBS (Ratio Utility Billing System) program to offset water and trash expenses, while benefiting from future annual rental increases in accordance with the City of Santa Ana's rent control guidelines. The oversized lot presents a rare opportunity to further maximize the property's value through the potential development of ADU's, creating a compelling long-term value-add investment opportunity (Buyer to verify development potential and feasibility with the City of Santa Ana). Ideally located in one of Santa Ana's established residential neighborhoods, the property benefits from strong and consistent rental demand driven by its close proximity to Santa Ana College, Downtown Santa Ana, major employment centers, public transportation, and a wide variety of shopping, dining, entertainment, and lifestyle amenities. Residents also enjoy convenient access to the 5, 22, 55, and 57 Freeways, providing excellent regional connectivity throughout Orange County. This offering presents investors with the rare opportunity to acquire a well-located multifamily asset featuring meaningful rental upside, multiple value-add strategies, and long-term development potential in one of Orange County's most sought-after rental markets.
Location
State CA
County Orange
Area 699 - Not Defined
Interior
Fireplace No
Laundry None
Exterior
Garage Spaces 4.0
Garage Description 4.0
Pool None
Community Features Suburban
Total Parking Spaces 4
Private Pool No
Building
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 00407052
Energy Description 732.0
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Special Listing Condition Standard
Listed by Christian Espinoza Greysteel California, Inc. 9493079469, DRE #02062988