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710 W Washington Ave 14 Unit Apartment Building $4,288,478 CAD ($306,320 CAD/Unit) 5.78% Cap Rate Santa Ana, CA 92706
EXECUTIVE SUMMARY
The Washington Apartments is a 14-unit apartment community located in the heart of Santa Ana. Built in 1983 and situated just north of the historic Downtown District, the property offers investors a high–cash-flow opportunity with significant upside potential. The property is attractively priced at a strong 5.9% cap rate based on current income, with local market rents supporting an estimated 8.9% pro forma cap rate.
The Washington Apartments features spacious studio units, each exceeding 700 square feet. Residents currently pay RUBS, contributing to efficient, low-expense operations. The property also provides multiple on-site common-area laundry machines for resident convenience, as well as 14 gated garage parking spaces located on the first floor.
The Washington Apartments features spacious studio units, each exceeding 700 square feet. Residents currently pay RUBS, contributing to efficient, low-expense operations. The property also provides multiple on-site common-area laundry machines for resident convenience, as well as 14 gated garage parking spaces located on the first floor.
PROPERTY FACTS
| Price | $4,288,478 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $306,320 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.22 AC |
| Cap Rate | 5.78% | Building Size | 10,400 SF |
| Sale Condition | 1031 Exchange | Average Occupancy | 100% |
| Gross Rent Multiplier | 11.02 | No. Stories | 3 |
| No. Units | 14 | Year Built | 1981 |
| Property Type | Multifamily | Parking Ratio | 1.35/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | R2, Santa Ana | ||
| Price | $4,288,478 CAD |
| Price Per Unit | $306,320 CAD |
| Sale Type | Investment |
| Cap Rate | 5.78% |
| Sale Condition | 1031 Exchange |
| Gross Rent Multiplier | 11.02 |
| No. Units | 14 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.22 AC |
| Building Size | 10,400 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1981 |
| Parking Ratio | 1.35/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | R2, Santa Ana |
AMENITIES
UNIT AMENITIES
- Balcony
- Heating
- Kitchen
- Carpet
- Den
- Dining Room
- Vinyl Flooring
SITE AMENITIES
- Laundry Facilities
- Gated
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 14 | - | 742 |
1 1
Walk Score®
Very Walkable (81)
PROPERTY TAXES
| Parcel Number | 398-531-06 | Improvements Assessment | $1,116,699 CAD |
| Land Assessment | $340,081 CAD | Total Assessment | $1,456,780 CAD |
PROPERTY TAXES
Parcel Number
398-531-06
Land Assessment
$340,081 CAD
Improvements Assessment
$1,116,699 CAD
Total Assessment
$1,456,780 CAD
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710 W Washington Ave
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