409 E Pine Street, Santa Ana, CA 92701
Property · 2 recorded sales since 2014
Sold August 2020
Listing Agent: Rick Applebaum (DRE #01273871) · Listing Office: Morgan Skenderian · Contact: 949-251-8800 · Bought with: Michael Ferraiz · The Kennedy Group · MLS #PW20144226 · Source: CRMLS
About this property
We are pleased to offer 409-415 E. Pine Street, a 12-unit apartment investment opportunity located in the highly desirable rental market of Santa Ana. Built in 1983 and comprised of 1 & 2 bedroom units, the majority of them being 2 bedrooms. This low turnover asset operates extremely smoothly allowing a new investor to immediately produce cash flow with as little as a 35% down payment but still has exceptional upside potential through continued improvement of the interiors and the ability to increase rents. Nestled along a tree line street, the Pine Street apartments are ideally located within walking distance to the vibrant Downtown Santa Ana Historic District, recently re-imagined with over $150 million in upgrades bringing food halls, shopping, entertainment and new energy to the district with a perfect balance of old and new. Additionally, this property is located just over 2 miles to the City of Tustin, and close proximity to shopping malls, major employment & freeways offering ease of access to the best parts of the surrounding neighborhoods. All these attributes equate to a healthy supply of renters and long term tenants. Furthermore, the property is located within an “Opportunity-Zone” offering additional tax advantages for upgrading the property making 409-415 E. Pine Street a sound investment for years to come.
Listing description from the August 2020 sale, as reported to CRMLS.
Sale history
