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510 Mortimer Street, Santa Ana, CA 92701
$15,150,000
510 Mortimer Street, Santa Ana, CA 92701View this property at 510 Mortimer Street, Santa Ana, CA 92701
510 Mortimer StreetSanta AnaCA92701
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Property Description
Park City View Luxury Apartments is a 58-unit multifamily investment opportunity located in Santa Ana, CA. With a prime Downtown Santa Ana location, residents of Park City View Luxury Apartments are at the epicenter of all that Santa Ana has to offer. The property is conveniently located within walking distance to the abundance of retail, dining, and entertainment options along East 4th Street. In recent years, Downtown Santa Ana has seen a revitalization which is exemplified by Park City View Luxury Apartments' location within a 0.50-mile radius of several major nearby developments. Additionally, the property is just over 1.25 miles from Santa Ana College, the 3rd top employer within the city, per Santa Ana's 2022 Annual Comprehensive Financial Report. Furthermore, residents enjoy the property's close proximity to Interstate 5, connecting residents to major employment hubs throughout Orange and Los Angeles Counties. Situated on a 0.50-acre lot, Park City View Luxury Apartments offers a diverse mix of studio, one, and two-bedroom floor plans. The property features highly-desirable amenities including a secure gated parking garage, gated pedestrian access, on-site laundry facilities, and private patios or balconies. Currently, select units have undergone significant renovations, including vinyl flooring, shaker-style cabinetry, quartz countertops, and more, all of which have allowed current ownership to achieve a rental premium over non-renovated units. There is a clear and proven opportunity for new ownership to further increase the income stream through the continuation of the in-place renovation plan by upgrading all units to high-end specifications.
Full Property Details
Full Property Details for 510 Mortimer St
General
- Sold For: $15,150,000
- Status: Closed
- Type: Multi-Family
- MLS ID: OC23172673
- Added to Site: 255 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: Cross Streets: Mortimer Street & East 5th Street
Utilities
- Sewer: Public Sewer
- Water: Public
- # Gas Meters: 58
- # Electric Meters: 58
Structural Information
- Entry Location: First Floor
- Stories/Levels: Three Or More
- Stories Description: Three Or More
- Square Feet: 34,609
- Year Built: 1984
Unit Information
Unit 1
- Number of Units: 6
- Total Bathrooms: 1
Unit 2
- Number of Units: 43
- Total Bathrooms: 1
- Bedrooms: 1
Unit 3
- Number of Units: 9
- Total Bathrooms: 2
- Bedrooms: 2
Lot Features
- Lot Size (Acres): 0.5
- Lot Size Source: Assessor
- Lot Description: Level with Street
Financial Considerations
- Price Per Sq. Ft.: $437.75
- Price Per Unit: 275000
Disclosures and Reports
- Buyer’s Brokerage Compensation: 1.25%
Listed and Sold by Marcus & Millichap RE Invest, Tyler Leeson
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Schools
Schools serving 510 Mortimer St
School District:Santa Ana Unified School District
Rating | Name | Grades | Distance |
---|---|---|---|
850 Brown St, Santa Ana, CA 92701 | K-5 | 0.2 mi | |
2021 N Grand Ave, Santa Ana, CA 92705 | 6-8 | 1.2 mi | |
1401 S Grand Ave, Santa Ana, CA 92705 | 9-12 | 1.6 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 510 Mortimer St
Date
Details
Price
Change
Source
12/29/2023
Sold
$15,150,000
-5.02%
MLS
9/14/2023
Listed
$15,950,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
510 Mortimer Street, Santa Ana, CA 92701 (MLS# OC23172673) is a Multi-Family property that was sold at $15,150,000 on December 29, 2023. Want to learn more about 510 Mortimer Street? 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.