311 Pine St Santa Ana, CA 92701
- Commercial real estate
- 20,525 SF
Current Use by Public Records
- Commercial real estate
Property Details for 311 Pine St
- Year built
- 1987
- Property size
- 20,525 SF
- Property type
- Commercial real estate
Description
This exceptional 19-unit apartment building, situated on a 17,445 sq ft lot in desirable Santa Ana, CA (92701), presents a compelling investment opportunity. Built in 1987, this Class B property boasts 20,525 square feet and offers a mix of spacious 2-bedroom/1.5-bath and 3-bedroom/2-bath townhouse-style units, each featuring walk-in closets, in-unit washer/dryer, and stainless-steel appliances. The property includes 42 secured parking spaces, a significant amenity in this location. Recent upgrades include a new roof, exterior paint, deck repairs, termite treatment, gutter work, elevator flooring replacement, and new asphalt in the alley. Further enhancing its appeal are security cameras, a security system, and an entry door system. The property also benefits from individually metered utilities with an in-place RUBS program, and three small storage rooms, plus a handyman storage room. Seismic inspections have been completed. The property is located near major freeways (I-5 and SR-22), providing easy access to employment centers in Orange and Los Angeles Counties, and is close to popular destinations like Angel Stadium and The Outlets at Orange. The asking price is $8,350,000, representing a price per unit of $439,473.68 and a price per square foot of $406.82. The property enjoys a 5.18% cap rate with a Net Operating Income (NOI) of $432,167. Assumable financing is available (3 years remaining at 3.10% interest-only), subject to buyer qualification. This property is situated in an Opportunity Zone.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Santa Ana
- County
- Orange
- State
- California
- Longitude
- -117.864268
- Latitude
- 33.7437036
