202 East Walnut Street

Santa Ana, CA 92701

$2,850,000
Last Sold Price
2
Beds
10
Baths
7,638 Sq. Ft.
$373 / Sq. Ft.
7,638
Sq. Ft.
$373
per Sq. Ft.

Description

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...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%.
  1. Listed by Rick Applebaum • DRE #01273871 • Brokerage DRE #01220368 • Morgan Skenderian • rma@morganskenderian.com
  2. Listed by Paul Espinosa • DRE #01942627 • Brokerage DRE #01220368 • Morgan Skenderian

Property Details for 202 East Walnut Street

Parking Spaces Total
5
Private Pool
No
Total Units
10.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
7638
Assessor Parcel Number
404-092-13
Property Attached YN
true

Location

Listing Courtesy of Morgan Skenderian, Rick Applebaum, DRE #01273871; Morgan Skenderian, Paul Espinosa, DRE #01942627

Sold By Morgan Skenderian, Damien Breaux, DRE #01460301

Add your commute
LISTING UPDATED: 04/09/2024 04:09 AM

Property Details for 202 East Walnut Street

StatusClosed
MLS #PW24022495
Days on Market63
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1937
CountyOrange County

Location

Listing Courtesy of Morgan Skenderian, Rick Applebaum, DRE #01273871; Morgan Skenderian, Paul Espinosa, DRE #01942627

Sold By Morgan Skenderian, Damien Breaux, DRE #01460301

Add your commute

Building Information for 202 East Walnut Street

Building/Complex202 E Walnut StFloor-Stories2Residences-Pet Policy-Year Built1937Building Size-

Payment Calculator

$18,146 per month

30 year fixed, 7.25% Interest

Principal and Interest

$15,554

Property Taxes

$2,592

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 202 East Walnut Street

Income / Expense / Tax Details
Income Details
  • Gross Income: $6,000
  • Gross Scheduled Income: $277,800
  • Vacancy Allowance: 8334
  • Gross Operating Income: $269,466
  • Net Operating Income: $202,025
  • Other Income Description: RUBS
  • Other Income 1: $6,000
  • Gross Multiplier: 11.5
  • Cap Rate: 6.3
  • Financing: Cash
Expense Details
  • Operating Expense: $67,441
  • New Taxes Expense: $37,965
  • Gardener Expense: $600
  • Fuel Expense: $3,000
  • Licenses Expense: $750
  • Electric Expense: $3,000
  • Insurance Expense: $5,347
  • Maintenance Expense: $8,084
  • Professional Management Expense: $0
  • Other Expense: $2,695
  • Other Expense Description: reserves
  • Trash Expense: $3,000
  • Water Sewer Expense: $3,000
  • Total Expenses: $67,441
Tax / Assessment Info
  • Tax Rate: 1.1
  • Tax Annual Amount: $35,400
  • Tax Block: D
  • Tax Tract Number: 134
  • Tax Census Tract: 750.02
  • CFD/Mello-Roos Fee: $2,565
  • Tax Lot: 11
Community / Development
Community / Development
  • Assessments YN: Yes
  • Assessments: Special Assessments
  • Community Features: Curbs, Gutters, Sidewalks
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Dryer Included, Washer Included
  • Fireplace Features: None
  • Fireplace Rooms: None
Exterior Features
  • Entry Location: 1
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
Land/Lot Info
  • Lot Features: Lot 10000-19999 Sqft
  • Number Of Units: 10
  • Land Lease: No
  • Land Lease Type: Fee
  • Levels: Two
  • Water: Public
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 5
  • Parking Garage Spaces: 5
  • Carport Spaces: 0
Unit Information
Unit 1
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 0
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Furnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $2,395
  • Unit Type Total Rent: $2,395
  • Unit Type Pro Forma: 2495
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Furnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $2,695
  • Unit Type Total Rent: $2,695
  • Unit Type Pro Forma: 2795
  • Unit Type Type: 2
Unit 3
  • Unit Type Units Total: 8
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $2,195
  • Unit Type Total Rent: $17,560
  • Unit Type Pro Forma: 2295
  • Unit Type Type: 3
Unit Information
  • Rent Controlled: Yes
  • Number Of Buildings: 3
  • Number Of Separate Electric Meters: 11
  • Number Of Separate Gas Meters: 10
  • Number Of Separate Water Meters: 1

Property History for 202 East Walnut Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 202 East Walnut Street

Taxable ValueLand$2,218,500Additions$357,000Total$2,575,500
Tax Record2023$31,101 ($2,592 / month)
Home Facts
Total Finished SqFt7,638 SqFtAbove Grade Finished SqFt7,638 SqFtLot Size12,059 SqFtStyleMulti-Family Dwelling (2-4)Year Built1937CountyORANGEAPN404-092-13

Schools near 202 East Walnut Street

This home is within Santa Ana Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 8
Public - 6 to 8
Public - 9 to 12
Charter - 3 to 12
Rating
School
Distance
Martin R. Heninger Elementary School
PublicK to 8

Willard Intermediate School
Public6 to 8

Century High School
Public9 to 12

Advanced Learning Academy
Charter3 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.

Similar Homes

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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 Morgan Skenderian, Rick Applebaum, DRE #01273871; Morgan Skenderian, Paul Espinosa, DRE #01942627

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.