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Listed by Rick Applebaum • Morgan Skenderian
$ 3,550,000
Est. payment /mo
New
709 E Chestnut Avenue Santa Ana, CA 92701
7,032 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 7,032 sqft
Price per Sqft $504
MLS Listing ID CRPW25111635
HOA Y/N No
Year Built 1983
Lot Size 6,848 Sqft
Property Sub-Type Other
Source Datashare California Regional
Property Description
The Chestnut Apartments is a turnkey, 12-unit apartment building located in the heart of Santa Ana. Built in 1983 and just minutes away from the historic Downtown District, this property represents one of the most attractive multifamily investment opportunities in the county. It boasts a compelling 6.2% CAP Rate based on current rental income. Further enhancing the investment potential, buyers have the option to assume the existing financing, which requires only a 30% down payment and features a below-market fixed interest rate that remains in effect through November 2029. This advantageous financing presents a rare opportunity to take advantage of positive leverage, dramatically increasing the cash-on-cash return. The Chestnut Apartments 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 underg
Location
State CA
County Orange
Interior
Fireplace No
Laundry See Remarks
Building
Water Public
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