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For sale
  • Listing Provided by: 

    Greg Bassirpou DRE #01365951 gbassirpou@marcusmillichap.com,

    Marcus & Millichap RE Invest

    Price cut: $95K (7/31)
    $9,600,000

    511 E Washington Ave, Santa Ana, CA 92701

    63beds
    42baths
    26,707sqft
    : 
    Multi Family
    Built in 1964
    -- sqft lot
    $-- Zestimate®
    $359/sqft
    $-- HOA

    What's special

    New railingsLarge courtyardBbq areaAmple on-site parkingNew tubs and showersGated entryNew appliances
    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 6.02% CAP Rate and 6.51% 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.
    318 days
    on Zillow
    |
    245
    |
    12
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    Zillow last checked: 7 hours ago

    Listing updated: July 30, 2025 at 05:15pm

    Listing Provided by:

    Greg Bassirpou DRE #01365951 gbassirpou@marcusmillichap.com,

    Marcus & Millichap RE Invest

    Source: CRMLS,MLS#: OC24202271MLS LogoOriginating MLS: California Regional MLS
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    Next available tour time:Tomorrow at 9am

    Facts & features

    Interior

    Bedrooms & bathrooms
    • Bedrooms: 63
    • Bathrooms: 42
    Appliances
    • Laundry: Common Area
    Features
    • Common walls with other units/homes: No Common Walls
    Interior area
    • Total structure area: 26,707
    • Total interior livable area: 26,707 sqft

    Property

    Parking
    • Total spaces: 56
    • Parking features: Carport
    • Carport spaces: 34
    • Uncovered spaces: 22
    Features
    • Levels: Two
    • Stories: 2
    • Entry location: Ground
    • Pool features: None
    Lot
    • Size: 1.07 Acres
    • Features: Landscaped, Near Public Transit
    Details
    • Parcel number: 39815118
    • Zoning: R3
    • Special conditions: Standard

    Construction

    Type & style
    • Home type: MultiFamily
    • Property subtype: Multi Family
    Condition
    • New construction: No
    • Year built: 1964

    Utilities & green energy

    • Sewer: Public Sewer
    • Water: Public

    Community & HOA

    Community
    • Features: Curbs, Storm Drain(s), Street Lights, Sidewalks
    Location
    • Region: Santa Ana

    Financial & listing details

    • Price per square foot: $359/sqft
    • Date on market: 9/30/2024
    • Listing terms: Cash,Cash to New Loan,1031 Exchange
    • Total actual rent: 775248
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