Alta Realty Group Ca, Inc
Jeff Kraus, Alta Realty Group Ca, IncPhone: (949) 246-0456
Email: jeff@krausre.com
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listing
1 of 12
Residential IncomeFor Sale
$3,390,000
709 E Chestnut Avenue
Santa Ana, CA 92701
Listed by Rick Applebaum DRE#01273871 rma@morganskenderian.com Morgan Skenderian
MLS: California Regional MLS (CRMLS)
Est. Mortgage
$17,599/mo

Pleased to present 709 East Chestnut Avenue, an immaculate turn-key 12-unit apartment building. Built in 1983 and nestled in the heart of Santa Ana, just minutes away from the Historical Downtown District, this property stands as one of the most attractive multifamily investments in the entire county, boasting a compelling 6.3% Capitalization Rate (CAP rate) on current rental income. 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. 709 Chestnut redefines urban living with spacious studio apartment, each generously proportioned to function as complete one-bedroom units. Enhancing the living experience, every unit is equipped with its own washer and dryer, offering tenants the convenience of in-home laundry facilities. Recent extensive interior renovations elevate the property to new heights, featuring luxurious materials, contemporary kitchens, stainless steel appliances, vinyl/plank flooring, upgraded bathrooms, and a range of other enhancements. The exterior of the property has undergone a fresh transformation with new paint and state-of-the-art exterior lighting, adding to the overall appeal. A noteworthy aspect of the Chestnut Apartments is the Planning Department Approval secured by the current ownership for the addition of three Accessory Dwelling Units (ADUs). With building approval expected imminently, the new owner stands to benefit from the construction of three additional units, translating to a projected 28.5% increase in gross income.

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Information courtesy of Morgan Skenderian is subject to verification and is not guaranteed.
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