511 E Washington Avenue, Santa Ana, CA 92701
Local realty services provided by:Better Homes and Gardens Real Estate Clarity
511 E Washington Avenue,Santa Ana, CA 92701
$9,300,000
- 6 Beds
- 5 Baths
- - sq. ft.
- Multi-family
- Active
Listed by: greg bassirpou
Office: marcus & millichap re invest
MLS#:OC24202271
Source:San Diego MLS via CRMLS
Price summary
- Price:$9,300,000
About this home
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 6.5% CAP Rate and 9.0% 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.
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Home facts
- Listing ID #:OC24202271
- Added:410 day(s) ago
- Updated:November 15, 2025 at 04:12 PM
Rooms and interior
- Bedrooms:6
- Total bathrooms:5
Finances and disclosures
- Price:$9,300,000
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