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1401 S Standard Avenue, Santa Ana, CA 92707
$2,150,000
1401 S Standard Avenue, Santa Ana, CA 92707View this property at 1401 S Standard Avenue, Santa Ana, CA 92707
1401 S Standard AvenueSanta AnaCA92707
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Property Description
The Standard Avenue Apartments is a nine-unit apartment building located in the City 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 1961, the subject property offers an attractive unit mix comprised of three-, two-, and one-bedroom units totaling 6,589 square feet. Some amenities include gated entry, ample on-site parking, and an on-site laundry room. Some recent renovations and upgrades include new floors, new bathrooms, updated kitchens, and fresh paint throughout.
This offering represents a rare opportunity for an investor to achieve a 6.05% CAP Rate and 5.76% Cash-on-Cash return, on current income, for a stable, turnkey investment property in the desirable rental market of Santa Ana, California. Additionally, The Standard Avenue Apartments are well suited to provide investors with strong returns and value appreciation over the long-term investment horizon.
Full Property Details
Full Property Details for 1401 S Standard Ave
General
- Sold For: $2,150,000
- Status: Closed
- Type: Multi-Family
- MLS ID: OC23089123
- Added to Site: 392 day(s) ago
Rooms
Other Rooms
- Laundry: Community
Additional Information
- Pool Description: None
Location
- Area: 699 - Not Defined
- County: Orange
- Development Name: 699 - Not Defined
- Driving Directions: Please do not disturb tenants. Make all offers subject to inspection.
Utilities
- Sewer: Public Sewer
- Water: Public
- # Water Meters: 1
- # Gas Meters: 9
- # Electric Meters: 9
Structural Information
- Entry Location: Ground
- Stories/Levels: Two
- Stories Description: Two
- Square Feet: 6,589
- Year Built: 1961
Unit Information
Unit 1
- Number of Units: 5
- Total Bathrooms: 1
- Bedrooms: 1
Unit 2
- Number of Units: 3
- Total Bathrooms: 1
- Bedrooms: 2
Unit 3
- Number of Units: 1
- Total Bathrooms: 2
- Bedrooms: 3
Lot Features
- Lot Size (Acres): 0.2337
- Lot Size Source: Public Records
- Zoning: R3
- Lot Description: Landscaped, Near Public Transit
Financial Considerations
- Price Per Sq. Ft.: $326.3
- Price Per Unit: 255000
Disclosures and Reports
- Buyer’s Brokerage Compensation: 2%
Listed and Sold by Marcus & Millichap RE Invest, Greg Bassirpou
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Schools
Schools serving 1401 S Standard Ave
School District:Santa Ana Unified School District
Rating | Name | Grades | Distance |
---|---|---|---|
1124 Hobart St, Santa Ana, CA 92707 | K-6 | 0.1 mi | |
1111 S Broadway, Santa Ana, CA 92707 | 6-8 | 0.8 mi | |
1401 S Grand Ave, Santa Ana, CA 92705 | 9-12 | 0.5 mi |
Disclaimer: School ratings provided by
GreatSchools. Ratings are on a scale of 1-10.
Learn more about GreatSchools ratings.
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 1401 S Standard Ave
Date
Details
Price
Change
Source
10/12/2023
Sold
$2,150,000
-6.32%
MLS
9/11/2023
Price Reduced
$2,295,000
-9.65%
MLS
5/22/2023
Listed
$2,540,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
1401 S Standard Avenue, Santa Ana, CA 92707 (MLS# OC23089123) is a Multi-Family property that was sold at $2,150,000 on October 12, 2023. Want to learn more about 1401 S Standard Avenue? Do you have questions about finding other Multi-Family real estate for sale in Santa Ana? You can browse all Santa Ana real estate or contact a Coldwell Banker agent to request more information.