511 E Washington Avenue, Santa Ana, CA 92701
Local realty services provided by:ERA North Orange County Real Estate
511 E Washington Avenue,Santa Ana, CA 92701
$9,300,000
- - Beds
- - Baths
- 26,707 sq. ft.
- Multi-family
- Active
Listed by: greg bassirpou
Office: marcus & millichap re invest
MLS#:OC24202271
Source:CRMLS
Price summary
- Price:$9,300,000
- Price per sq. ft.:$348.22
About this home
The Washington Avenue Apartments is a 30-unit apartment community located in the very desirable French Court neighborhood 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 1964, the subject property offers a very attractive unit mix comprised of one-, two-, and three-bedroom units totaling 26,707 square feet
situated on just over one acre of land. Approximately 75% of the unit mix consists of two- and three-bedroom units. Some amenities include gated entry with a large courtyard, ample on-site parking including carports, BBQ area, patios/balconies, and an on-site laundry facility. Some recent renovations and upgrades of interiors and exterior include granite countertops, vinyl/plank flooring, new tubs and showers, new appliances, new windows and sliders, new railings, a substantial deck replacement/resurfacing, new A/C units, some new bathrooms and kitchens, and the bulk of the individual water heaters have been replaced.
This offering represents an opportunity for an investor to achieve a 6.5% CAP Rate and 9.0% Cash-on-Cash return, on current income, for a well-located and stable/turnkey investment property in the desirable rental market of Santa Ana, California. Additionally, The Washington Avenue
Apartments are well suited to provide investors with strong returns and value appreciation over the long-term investment horizon.
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Home facts
- Year built:1964
- Listing ID #:OC24202271
- Added:416 day(s) ago
- Updated:November 21, 2025 at 12:10 PM
Rooms and interior
- Living area:26,707 sq. ft.
Structure and exterior
- Year built:1964
- Building area:26,707 sq. ft.
- Lot area:1.07 Acres
Utilities
- Water:Public
- Sewer:Public Sewer
Finances and disclosures
- Price:$9,300,000
- Price per sq. ft.:$348.22
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