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202 E Walnut St, Santa Ana, CA 92701
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202 E Walnut St Santa Ana, CA 92701

$2,850,000 Sold Price as of 04/08/2024
  • 9 Beds
  • 10 Baths
  • 7,638 Sq.Ft.
Sold
$2,850,000 Sold Price as of 04/08/2024 Refinance Your Mortgage
Map preview of 202 E Walnut St, Santa Ana, CA 92701

Property Overview: 202 E Walnut St Santa Ana, CA has 9 bedrooms, 10 bathrooms, 7,638 living square feet and 11,224 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: Pleased to present 202 E. Walnut Street, a garden style, 10-unit apartment complex overflowing with curb appeal, consisting of (9) Large 1-Bedroom units and (1) Studio averaging 763 SF each. Beautifully maintained with lush landscaping and a heavily upgraded property, the units are situated on a sizeable corner lot of a quiet, treelined street. Residents of the property enjoy the proximity to the Historic Downtown District (walking distance) known for its vibrant artistic & cultural scene, trendy dining establishments and various other entertainment related venues. All units of the property have been meticulously cared for and fully upgraded with washer and dryer machines included in each unit, all new kitchens with stainless steel appliance, interior paint, fixture throughout the units, and dual pane windows. Priced at a 6.3% CAP rate on the current rents makes this investment one the most attractive multifamily investments in the entire county. A rare opportunity to take advantage of positive leverage, allowing the investor to place a smaller down payment and increase the cash-on-cash return. Additionally, current ownership is in the process of obtaining approval for (2) ADU (Accessory Dwelling Units) which is expected to receive planning approval shortly. The additional income generate from this unit is expected to increase gross income by 23%.

Listed by Rick Applebaum | BRE #01273871 | Morgan Skenderian
Co-listed by Paul Espinosa | BRE #01942627 | Morgan Skenderian
Last checked: 7 minutes ago | Last updated: April 9th, 2024 | Source CRMLS | DOM: 63

Home details

Lot Sq. Ft
11,224
HOA Dues
$0/mo
Year built
1937
Garage
5 Car
Property Type:
Apartment
Status
Sold
MLS#
PW24022495
City
Santa Ana
County
Orange
Time on Site
84 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 10
  • Total # of Buildings: 3
  • # of Electric Meters: 11
  • # of Gas Meters: 10
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 0
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Furnished
  • Actual Rent: $2,395
  • Total Rent: $2,395
  • Pro Forma/Market Rent: $2,495
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Furnished
  • Actual Rent: $2,695
  • Total Rent: $2,695
  • Pro Forma/Market Rent: $2,795
Unit Breakdown 3
  • # of Units: 8
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,195
  • Total Rent: $17,560
  • Pro Forma/Market Rent: $2,295
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 6.3%
  • Gross Rent Multiplier: 11.5
  • Gross Scheduled Income: $277,800
  • Net Operating Income: $202,025
  • Gross Operating Income: $269,466
  • Vacancy Allowance: $8,334
  • Other Income 1: $6,000
  • Other Income Description: RUBS
Annual Expense Breakdown
  • Total Operating Expense: $67,441
  • Electric: $3,000
  • Gas/Fuel: $3,000
  • Licenses: $750
  • New Taxes: $37,965
  • Trash: $3,000
  • Gardener: $600
  • Insurance: $5,347
  • Maintenance: $8,084
  • Professional Management: $0
  • Water/Sewer: $3,000
  • Other Expenses: $2,695
  • Other Expense Description: reserves

Property Details for 202 E Walnut St

Interior Features
Laundry Information
  • Has Laundry
  • Dryer Included, Washer Included
Fireplace Information
  • No Fireplace
  • None
Interior Features
  • Levels: Two
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 5
  • # of Parking Spaces: 5
Lot Information
  • Lot Features: Lot 10000-19999 Sqft
  • Lot Size Source: Assessor
  • Common Interest: Community Apartment
Property Information
  • Common Walls: 2+ Common Walls
  • Total # of Units: 10
  • Parcel Number: 40409213
  • Year Built Source: Assessor
  • Entry Level: 1
  • Property is Attached
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Assessment Information
  • Has Assessments
  • Assessments: Special Assessments
Location / Neighborhood
Location Information
  • Directions: South of W. 1st Street and West or Orange Avenue
Neighborhood Information
  • Community Features: Curbs, Gutters, Sidewalks
View more facts & features

Local Santa Ana Agent

Sale History for 202 E Walnut St

Last sold for $2,850,000 on April 8th, 2024

  • April, 2024

  • Apr 8, 2024

    Date

    Sold

    CRMLS: PW24022495

    $2,850,000

    Price

  • Jan 31, 2024

    Date

    Active

    CRMLS: PW24022495

    $3,195,000

    Price

  • November, 2021

  • Nov 2, 2021

    Date

    Active

    CRMLS: PW21240949

    $2,450,000

    Price

  • Listing provided courtesy of CRMLS

    202 E. Walnut Street is a 10-unit apartment investment opportunity in the city of Santa Ana. This well-maintained asset boasts a sizeable corner lot, on a quiet, tree-lined street. Residents enjoy restaurants, retail, and public transportation all within a short walk. The property has a very stable occupancy history, with many long-term tenants. Unit interiors are larger than the average 1-bedrooms in Santa Ana, and the price per square foot of $320 is well below that of most recent sales comparables. With 30+% upside in rents, the property also offers tremendous upside. The unique layout with a maturely landscaped courtyard and units set back from the street make this the kind of property that would be a great addition to any investor’s portfolio.

  • January, 2010

  • Jan 27, 2010

    Date

    Sold (Public Records)

    Public Records

    $1,150,000

    Price

  • April, 2002

  • Apr 9, 2002

    Date

    Sold (Public Records)

    Public Records

    --

    Price

Show More

Tax History for 202 E Walnut St

Assessed Value (2020): $1,325,235
Year Land Value Improved Value Assessed Value
2020 $1,033,683 $291,552 $1,325,235

Home Value Compared to the Market

This property vs the competition

202 E Walnut St sold on April 8, 2024 for 326% higher than the current median sold price for the city of Santa Ana which is $750,000. The median sold price per/sqft for Santa Ana is $561 and this home is sold at $418.3 per/sqft which puts the price per square foot 25.44% lower than the current median sale per square foot for the city of Santa Ana.

About 202 E Walnut St

Detailed summary of property

202 E Walnut St is a apartment that recently sold in Santa Ana, CA 92701. This apartment offered 9 bedrooms, 10 bathrooms, roughly 7,638 living square feet, and sits on an approximately 11,224 square foot lot. 202 E Walnut St was first listed on ArdentRealEstateGroup.com on January 31, 2024. The homeowner sold the property for $2,850,000. Home in Santa Ana are selling for a median price of $750,000 and a median price per square foot of $561. Based on Ardent Real Estate Group's Santa Ana Market Data, this home is sold 326% higher than the current median priced home. Local homes that are currently for sale include 216 W Santa Fe Ave, 280 E 16th St. and 124 Pearl Ave. While the average home in Santa Ana, CA is selling in 47 days, 202 E Walnut St has a days on market of 63 days. There are currently 228 homes for sale in the Santa Ana real estate market and 126 of them are single family homes while 92 of them are condos and 9 are townhomes. For more information on this home for sale at 202 E Walnut St Santa Ana, CA 92701 contact Ardent Real Estate Group and we will put you in touch with one of our Santa Ana agents.

Public Facts for 202 E Walnut St

Public county record property details
Beds
--
Baths
--
Year built
1937
Sq. Ft.
7,638
Lot Size
11,224
Stories
--
Type
Multi-Family Dwellings (Generic, Any Combination 2+)
Pool
No
Spa
No
County
Orange
Lot#
11
APN
404-092-13

The source for these homes facts are from public records.

92701 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$455,000
Median List Price/Sq.Ft.
$469
Median Sold Price
$435,000
Median Sold Price/Sq.Ft.
$582
Total Inventory
41
Median Sale to List Price %
100%
Avg Days on Market
32
Loan Type
Conventional (63.64%), FHA (9.09%), VA (9.09%), Cash (18.18%), Other (0%)

Thinking of Selling?

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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