1013 South Standard Avenue

Santa Ana, CA 92701

$5,580,000
Last Sold Price
1
Beds
24
Baths
14,776 Sq. Ft.
$378 / Sq. Ft.
14,776
Sq. Ft.
$378
per Sq. Ft.

Description

The Standard Avenue Apartments are 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 1958, the subject property offers a unit mix consisting of (24) one-bedroom/ one-bathroom units totaling 14,776 square feet, situated over two parcels totaling 15,764 square feet. The subject property has recently gone through an extensive exterior renovation and partial...The Standard Avenue Apartments are 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 1958, the subject property offers a unit mix consisting of (24) one-bedroom/ one-bathroom units totaling 14,776 square feet, situated over two parcels totaling 15,764 square feet. The subject property has recently gone through an extensive exterior renovation and partial interior renovations. Some upgrades include but are not limited to new flooring, new kitchens, updated bathrooms, new roofs, new windows, new asphalt, new electric, and fresh interior and exterior paint. Common area amenities include a large courtyard, gated access, ample on-site parking, and a on-site, building-owned laundry facility. This offering represents a rare opportunity for an investor to achieve a 5% CAP Rate and 10.4% Cash-on-Cash/Total Return on current income for a stable, turnkey investment property in the desirable rental market of Santa Ana, California.
  1. Listed by Greg Bassirpou • DRE #01365951 • Brokerage DRE #00530854 • Marcus & Millichap RE Invest

Property Details for 1013 South Standard Avenue

Parking Spaces Total
0
Private Pool
No
Total Units
24.0
Building Type
Detached
Living Area
14776
Assessor Parcel Number
011-251-09
Property Attached YN
false
Common Walls
No Common Walls

Location

Listing Courtesy of Marcus & Millichap RE Invest, Greg Bassirpou, DRE #01365951

Sold By Trevor Carl Nelson, Trevor Nelson, DRE #01495150

Add your commute
LISTING UPDATED: 06/22/2021 05:55 AM

Property Details for 1013 South Standard Avenue

StatusClosed
MLS #OC21048187
Days on Market35
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1958
Lot Size0.36 AC / 15,764 SF
CountyOrange County

Location

Listing Courtesy of Marcus & Millichap RE Invest, Greg Bassirpou, DRE #01365951

Sold By Trevor Carl Nelson, Trevor Nelson, DRE #01495150

Add your commute

Building Information for 1013 South Standard Avenue

Stories2Residences-Year Built1958Building Size-Lot Size0.36 AC / 15,764 SF

Payment Calculator

$33,368 per month

30 year fixed, 7.25% Interest

Principal and Interest

$30,452

Property Taxes

$2,916

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1013 South Standard Avenue

Income / Expense / Tax Details
Income Details
  • Gross Income: $437,880
  • Gross Scheduled Income: $428,880
  • Vacancy Allowance: 13136
  • Vacancy Allowance Rate: 3
  • Gross Operating Income: $437,880
  • Net Operating Income: $279,536
  • Laundry Income: $9,000
  • Gross Multiplier: 12.77
  • Cap Rate: 5.0
  • Financing: Cash To Existing Loan
Expense Details
  • Operating Expense: $145,208
  • New Taxes Expense: $68,986
  • Fuel Expense: $6,250
  • Electric Expense: $6,250
  • Insurance Expense: $4,382
  • Professional Management Expense: $16,000
  • Trash Expense: $6,250
  • Water Sewer Expense: $6,250
  • Total Expenses: $145,208
Tax / Assessment Info
  • Tax Tract Number: 3293
  • Tax Census Tract: 745.01
  • Tax Lot: 28
Community / Development
Community / Development
  • Community Features: Sidewalks, Storm Drains, Street Lights
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Community
Exterior Features
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
Land/Lot Info
  • Additional Parcels Description: 01125110
  • Lot Features: Landscaped, Near Public Transit
  • Number Of Units: 24
  • Land Lease: No
  • Land Lease Type: Fee
  • Levels: Two
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 0
  • Parking Garage Spaces: 0
  • Carport Spaces: 0
Unit Information
Unit 1
  • Unit Type Units Total: 24
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $35,740
  • Unit Type Total Rent: $35,740
  • Unit Type Pro Forma: 37200
  • Unit Type Type: 1
Unit Information
  • Rent Controlled: Yes
  • Number Of Buildings: 2
  • Number Of Separate Electric Meters: 24
  • Number Of Separate Gas Meters: 24
  • Number Of Separate Water Meters: 2

Property History for 1013 South Standard Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 1013 South Standard Avenue

Taxable ValueLand$2,464,707Additions$416,160Total$2,880,867
Tax Record2023$34,995 ($2,916 / month)
Home Facts
Total Finished SqFt7,388 SqFtAbove Grade Finished SqFt7,388 SqFtStories2Lot Size7,802 SqFtStyleMulti-Family Res (5+ Units)Year Built1958CountyORANGEAPN011-251-09

Schools near 1013 South Standard Avenue

This home is within Santa Ana Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - 6 to 8
Rating
School
Distance
Theodore Roosevelt Elementary School
PublicK to 5

Julia C. Lathrop Intermediate School
Public6 to 8

Century High School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Marcus & Millichap RE Invest, Greg Bassirpou, DRE #01365951

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.