409-415 E. Pine Street is a 12-unit multifamily property located in Santa Ana, CA, offering investors an opportunity to acquire a well-located Orange County asset. Built in 1983, the property consists of two contiguous parcels totaling 8,628 square feet of rentable area situated on a 14,000 square foot lot. The community features a desirable unit mix of four 1BR/1BA units and eight 2BR/1BA units, along with amenities including on-site laundry, gated entry, individual water heaters, and patios/balconies in select units. Recent capital improvements include roof restoration, HVAC replacements, water heater replacement, and interior updates to select units. The property is offered at a 6% CAP Rate on current income with 25% rental upside, providing investors with additional growth potential through continued upgrades, turnover, and rent increases.
| MLS # | PW26219394 |
|---|---|
| Listing Type | For Sale |
| Style | Condominium |
| Sub-Type | Resale |
| Status | Active |
| Year | 1983 |
| Days On Site | 13 |
| Listing Provided By | Morgan Skenderian | Garrett Blair |
| SQ Feet | 8,628 |
|---|---|
| Car Port | Yes |
| Story(s) | 2 |
| Units | 12 |
| Building(s) | 2 |
| Acreage | 0.32 |
| Property View | None |
| Cooling | Wall Window Units |
|---|---|
| Heating | Wall Furnace |
| Heating Yes / No | Yes |
| Cooling Yes / No | Yes |
| Interior Features | Balcony |
| Window Features | Blinds |
| Appliances | Electric Range, Gas Range, Water Heater |
| Fireplace Yes / No | No |
| Roof | Composition, Flat, Spanish Tile |
|---|---|
| Security Features | Carbon Monoxide Detectors, Smoke Detectors |
| Construction Materials | Frame, Stucco, Wood Siding |
| Foundation Details | Slab |
| Lot Features | Thirty Six To Forty Units Acre, Landscaped, Rectangular Lot |
| Fencing | Chain Link, Fair Condition |
| Parking Features | Assigned, Concrete, Carport, Community Structure |
|---|---|
| Garage Yes / No | No |
| Utilities | Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected |
|---|---|
| Electric | Standard |
| Sewer | Public Sewer |
| Community Features | Gutters, Storm Drains, Street Lights, Suburban, Sidewalks |
|---|
| Property | 33305 |
|---|
| State | CA |
|---|---|
| County | Orange |
| City | Santa Ana |
| Zip Code | 92701 |
| Area | 69 Santa Ana South of First |
| Community Name | Henninger Park/Eastside |
| Listing VS Median (in Henninger Park/Eastside) | |
Price: $2,975,000 low | high Med: $2,975,000 sqft: 8,628 low | high Med: 8,628 $ / sqft: $345 low | high Med: $345 On site: 13 low | high Med: 13 | |
| State | CA |
|---|---|
| County | Orange |
| City | Santa Ana |
| Zip Code | 92701 |
| Area | 69 Santa Ana South of First |
| Community Name | Henninger Park/Eastside |
| Listing VS Median (in Henninger Park/Eastside) | |
Price: $2,975,000 low | high Med: $2,975,000 sqft: 8,628 low | high Med: 8,628 $ / sqft: $345 low | high Med: $345 On site: 13 low | high Med: 13 | |