Property

Santa Ana, CA 92701 709 E Chestnut Avenue

709 E Chestnut Avenue Santa Ana, CA - Image 1709 E Chestnut Avenue Santa Ana, CA - Image 2709 E Chestnut Avenue Santa Ana, CA - Image 3
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709 E Chestnut Avenue Santa Ana, CA - Image 4709 E Chestnut Avenue Santa Ana, CA - Image 5709 E Chestnut Avenue Santa Ana, CA - Image 6709 E Chestnut Avenue Santa Ana, CA - Image 7709 E Chestnut Avenue Santa Ana, CA - Image 8709 E Chestnut Avenue Santa Ana, CA - Image 9709 E Chestnut Avenue Santa Ana, CA - Image 10
Presented By: Rick Applebaum with Morgan Skenderian; rma@morganskenderian.com
  • MLS# PW25111635
  • 04/21/2025
  • Request Tour
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  • Baths • 1
  • SQFT • 7,032
  • Garage • 12

Home Details

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.
Presented By: Rick Applebaum with Morgan Skenderian; rma@morganskenderian.com

Interior Features for 709 E Chestnut Avenue

Other Interior Features

Common WallsNo Common Walls
Laundry FeaturesSee Remarks
Total Stories3

Other Rooms

Entry Level1

General for 709 E Chestnut Avenue

Additional Parcels Y/NNo
Building Area UnitsSquare Feet
CitySanta Ana
Community FeaturesBiking, Curbs, Park, Street Lights, Sidewalks
CountyOrange
DirectionsSouth of 1st Street and East of Main Street
Electric Expense3060
Entry LocationStreet
Fuel Expense3060
Garage Spaces12
Garage Y/NYes
Gross Income305652
HOANo
HOA Fee$
Insurance Expense7032
Land Lease Y/NNo
LevelsTwo
Listing TermsCash to Existing Loan
Lot Size Square Feet6848
Lot Size UnitsSquare Feet
MLS Area69 - Santa Ana South of First
MaintenanceExpense8894
Net Operating Income220959
New ConstructionNo
Number Of Units Total12
Operating Expense75523
Pool FeaturesNone
PostalCitySANTA ANA
Property Attached Y/NNo
Property Sub Type AdditionalApartment
Property SubtypeApartment
Property TypeResidential Income
Rent Control Y/NYes
Senior Community Y/NNo
SewerPublic Sewer
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Stories Count2
Subdivision NameOther
Tax Lot10
Taxes$42,692
Trash Expense3060
Water Sewer Expense3060
Year Built1983
Year Built SourceAssessor
ZoningR3

Exterior for 709 E Chestnut Avenue

Building Area Total7032
Lot Size Acres0.1572
Lot Size Area6848
Lot Size SourceAssessor
Number of Buildings1
Number of Separate Electric Meters12
Number of Separate Gas Meters12
Number of Separate Water Meters1
Private PoolNo
Total Parking12
Water SourcePublic

Additional Details

Price History

Schools

High School Hubert H Humphrey Middle School
Middle School N/A
Elementary School Big Hollow Elementary School

Limor Zamir

Realtor®
Price $3,550,000
MLS#PW25111635
List Date 04/21/2025
Property Type Multi-Family
Phone 310.866.3778
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