415 West Pine Street

Santa Ana, CA 92701

$1,350,000
Price
3
Beds
6
Baths
4,381 Sq. Ft.
$308 / Sq. Ft.
4,381
Sq. Ft.
$308
per Sq. Ft.

Description

415 West Pine Street is a 6-unit multifamily investment property located in Santa Ana, California. The property has a market CAP rate of 8.24% and a market GIM of 8.82 on market rents. 415 West Pine Street offers six multifamily units across three buildings, with attractive amenities including a private yard or deck (select units) and in-unit laundry hookups (select units). Additionally, the property offers surface and garage parking, a highly desirable amenity for renters. 415 West Pine Street offers...415 West Pine Street is a 6-unit multifamily investment property located in Santa Ana, California. The property has a market CAP rate of 8.24% and a market GIM of 8.82 on market rents. 415 West Pine Street offers six multifamily units across three buildings, with attractive amenities including a private yard or deck (select units) and in-unit laundry hookups (select units). Additionally, the property offers surface and garage parking, a highly desirable amenity for renters. 415 West Pine Street offers new ownership the opportunity to diversify the unit mix and increase potential rental income through the development of an accessory dwelling unit (ADU) on the existing private yard. 415 West Pine Street is located in an optimal Santa Ana location, just south of Downtown Santa Ana and the plethora of retail, dining, and entertainment options along 4th Street. The property is situated just steps away from Heninger Elementary School and Santa Ana High School, providing an attractive draw for families looking to be in close proximity of educational centers. Additionally, the property is within walking distance to everyday needs at Downtown Plaza, a Food 4 Less anchored retail center. Furthermore, the property benefits from its close proximity to Interstate 5 and State Route 55, connecting residents to employment hubs throughout Southern California. Given its optimal Santa Ana location, the property offers an investor the ability to capture quality tenants seeking a convenient location with access to a wide variety of area amenities. This overall demand for well-located apartments will be a key driver in the continued growth at 415 West Pine Street.
  1. Listed by Tyler Leeson • DRE #01451551 • Brokerage DRE #00530854 • Marcus & Millichap RE Invest • 714-713-9086

Property Details for 415 West Pine Street

Parking Spaces Total
7
Private Pool
No
Total Units
6.0
Building Type
Detached
Lot Size Source
Assessor
Living Area
4381
Assessor Parcel Number
398-281-10
Property Attached YN
false

Location

Listing Courtesy of Marcus & Millichap RE Invest, Tyler Leeson, DRE #01451551
Add your commute
LISTING UPDATED: 06/11/2024 10:06 AM

Property Details for 415 West Pine Street

StatusPending
MLS #OC24103182
Days on Market13
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1922
CountyOrange County

Location

Listing Courtesy of Marcus & Millichap RE Invest, Tyler Leeson, DRE #01451551
Add your commute

Building Information for 415 West Pine Street

Building/Complex415 W Pine StFloor-Stories2Residences-Pet Policy-Year Built1922Building Size-

Payment Calculator

$7,944 per month

30 year fixed, 7.25% Interest

Principal and Interest

$7,368

Property Taxes

$576

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 415 West Pine Street

Income / Expense / Tax Details
Income Details
  • Gross Income: $90,084
  • Gross Scheduled Income: $90,084
  • Vacancy Allowance: 2703
  • Vacancy Allowance Rate: 3
  • Gross Operating Income: $87,381
  • Net Operating Income: $50,150
Expense Details
  • Operating Expense: $37,231
  • Operating Expense Percent: 42.60%
  • New Taxes Expense: $14,958
  • Fuel Expense: $2,032
  • Electric Expense: $2,032
  • Insurance Expense: $4,200
  • Maintenance Expense: $4,200
  • Professional Management Expense: $0
  • Other Expense: $5,745
  • Other Expense Description: Misc
  • Trash Expense: $2,032
  • Water Sewer Expense: $2,032
  • Total Expenses: $37,231
Tax / Assessment Info
  • Tax Block: 5
  • Tax Tract Number: 332
  • Tax Census Tract: 750.02
  • CFD/Mello-Roos Fee: $1,545
  • Tax Lot: 7
Community / Development
Community / Development
  • Community Features: Curbs, Gutters, Sidewalks
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Electric Dryer Hookup, Washer Hookup
Exterior Features
  • Entry Location: First Level
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
Land/Lot Info
  • Lot Features: Level with Street
  • Number Of Units: 6
  • Land Lease: No
  • Land Lease Type: Fee
  • Topography: Level
  • Levels: Two
  • Water: Public
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 4
  • Uncovered Spaces: 3
  • Open Other Spaces Total: 3
  • Parking Garage Spaces: 4
  • Carport Spaces: 0
Property / Structure Info
  • Builders Tract Name: Other
  • Builders Tract Code: Other (OTHR)
Unit Information
Unit 1
  • Unit Type Units Total: 2
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 2
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $2,510
  • Unit Type Total Rent: $2,510
  • Unit Type Pro Forma: 3550
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 4
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 2
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $4,997
  • Unit Type Total Rent: $4,997
  • Unit Type Pro Forma: 9200
  • Unit Type Type: 2
Unit Information
  • Rent Controlled: Yes
  • Number Of Buildings: 3
  • Number Of Separate Electric Meters: 6
  • Number Of Separate Gas Meters: 6
  • Number Of Separate Water Meters: 1

Property History for 415 West Pine 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 415 West Pine Street

Taxable ValueLand$369,400Additions$114,934Total$484,334
Tax Record2023$6,911 ($576 / month)
Home Facts
Total Finished SqFt4,700 SqFtAbove Grade Finished SqFt4,700 SqFtStories2Lot Size6,862 SqFtStyleMulti-Family Res (5+ Units)Year Built1921CountyORANGEAPN398-281-10

Schools near 415 West Pine 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 - 9 to 12
Rating
School
Distance
Martin R. Heninger Elementary School
PublicK to 8

Willard Intermediate School
Public6 to 8

Santa Ana High School
Public9 to 12

Nova Academy Early College High
Charter9 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, Tyler Leeson, DRE #01451551

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.