Sold

202 E Walnut Street

Santa Ana CA, 92701

$2,850,000


$373.13 per sqft

Sold

7,638 sqft

Condo

Built in 1937

Listed by Rick Applebaum with Morgan Skenderian 949-251-8800

Pleased to present 202 E. Walnut Street, a garden style, 10-unit apartment complex overflowing with curb appeal, consisting of (9) Large 1-Bedroom units and (1) Studio averaging 763 SF each. Beautifully maintained with lush landscaping and a heavily upgraded property, the units are situated on a sizeable corner lot of a quiet, treelined street. Residents of the property enjoy the proximity to the Historic Downtown District (walking distance) known for its vibrant artistic & cultural scene, trendy dining establishments and various other entertainment related venues. All units of the property have been meticulously cared for and fully upgraded with washer and dryer machines included in each unit, all new kitchens with stainless steel appliance, interior paint, fixture throughout the units, and dual pane windows. Priced at a 6.3% CAP rate on the current rents makes this investment one the most attractive multifamily investments in the entire county. A rare opportunity to take advantage of positive leverage, allowing the investor to place a smaller down payment and increase the cash-on-cash return. Additionally, current ownership is in the process of obtaining approval for (2) ADU (Accessory Dwelling Units) which is expected to receive planning approval shortly. The additional income generate from this unit is expected to increase gross income by 23%.

PW24022495

MLS ID

January 31, 2024

Listed

April 9, 2024

Updated

Map

202 E Walnut Street
Santa Ana CA, 92701

Interior Features

Total Stories

2


Appliances

Dryer, Washer


Fireplace

Yes


Fireplace Description

None


Cooling

No


Heating

No

Exterior/Building Features

Lot Size

0.26 Acres


Sewer

Public Sewer

Other Property Details

Area Name

699 - Not Defined


Taxes

$35,400


Tax Frequency

Annually


Days on Market

63


Garage

Yes


Garage Spaces

5


Parking Total

5


View

No


County

Orange


Water Source

Public


Pool

No


Pool Features

None


Buyer Agency Compensation

2%

Listing History

Date

Event

Price

4/9/2024

Sold

$2,850,000

4/4/2024

Pending

Listing Contact: 949-251-8800 

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 4/9/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

©2024 California Regional Multiple Listing Service (CRMLS) all rights reserved.

Data last updated on 4/9/2024 at 8:08 PM UTC

 

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