709 E Chestnut Avenue, Santa Ana, CA 92701 - Berkshire Hathaway HomeServices California Properties
709 E Chestnut Avenue Santa Ana, CA 92701
$3,550,000 0 beds, 0 baths
0 sqft

Agent Remarks

The Chestnut Apartments is a turnkey, 12-unit apartment building located in the heart of Santa Ana. Built in 1983 and just minutes away from the historic Downtown District, this property represents one of the most attractive multifamily investment opportunities in the county. It boasts a compelling 6.2% CAP Rate based on current rental income. Further enhancing the investment potential, buyers have the option to assume the existing financing, which requires only a 30% down payment and features a below-market fixed interest rate that remains in effect through November 2029. This advantageous financing presents a rare opportunity to take advantage of positive leverage, dramatically increasing the cash-on-cash return. The Chestnut Apartments redefines urban living with spacious studio apartment, each generously proportioned to function as complete one-bedroom units. Enhancing the living experience, every unit is equipped with its own washer and dryer, offering tenants the convenience of in-home laundry facilities. Recent extensive interior renovations elevate the property to new heights, featuring luxurious materials, contemporary kitchens, stainless steel appliances, vinyl/plank flooring, upgraded bathrooms, and a range of other enhancements. The exterior of the property has undergone a fresh transformation with new paint and state-of-theart exterior lighting, adding to the overall appeal. Previously, ownership had received full approval for the addition of three Accessory Dwelling Units (ADUs). These ADU's, once constructed, add a projected 29.7% increase in gross income.

Listing Details

Property type: Apartment (Multi-Family)
Status: Active
MLS# PW25111635
List price is $3,550,000
HOA Fee is $0.00
Beds: 0
Baths: 0
Built in 1983
2 stories
0.16 acres
Lot size: 0.1572
Subdivision: Other
County: Orange
Zoning: R3
MLS area: 69 - Santa Ana South of First

Last Updated: 5/19/2025

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This listing belongs to the 69 - Santa Ana South of First MLS area

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Lat/Long: 33.742802, -117.859108.
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Listing Agent: Rick Applebaum
Co Listing Agent: Paul Espinosa
Lic#: 01234982
Office Name: Mission Viejo

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