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.
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
Est.:
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
- 318 days
- on Zillow |
- 245 |
- 12 |
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#: OC24202271
Originating MLS: California Regional MLS

Travel times
Tour with a buyer's agent
Tour with a buyer's agent
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
Video & virtual tour
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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