415 W Pine Street, Santa Ana, CA 92701
Property
Sold August 2024
Listing Agent: Tyler Leeson (DRE #01451551) · Listing Office: Marcus & Millichap RE Invest · Contact: 714-713-9086 · Bought with: Tyler Leeson · Marcus & Millichap RE Invest · MLS #OC24103182 · Source: CRMLS
About this property
415 West Pine Street is a 6-unit multifamily investment property located in Santa Ana, California. The property has a market CAP rate of 8.24% and a market GIM of 8.82 on market rents. 415 West Pine Street offers six multifamily units across three buildings, with attractive amenities including a private yard or deck (select units) and in-unit laundry hookups (select units). Additionally, the property offers surface and garage parking, a highly desirable amenity for renters. 415 West Pine Street offers new ownership the opportunity to diversify the unit mix and increase potential rental income through the development of an accessory dwelling unit (ADU) on the existing private yard. 415 West Pine Street is located in an optimal Santa Ana location, just south of Downtown Santa Ana and the plethora of retail, dining, and entertainment options along 4th Street. The property is situated just steps away from Heninger Elementary School and Santa Ana High School, providing an attractive draw for families looking to be in close proximity of educational centers. Additionally, the property is within walking distance to everyday needs at Downtown Plaza, a Food 4 Less anchored retail center. Furthermore, the property benefits from its close proximity to Interstate 5 and State Route 55, connecting residents to employment hubs throughout Southern California. Given its optimal Santa Ana location, the property offers an investor the ability to capture quality tenants seeking a convenient location with access to a wide variety of area amenities. This overall demand for well-located apartments will be a key driver in the continued growth at 415 West Pine Street.
Listing description from the August 2024 sale, as reported to CRMLS.
Sale history