335 E Chestnut Ave
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335 E Chestnut Ave
22 Unit Apartment Building $7,515,038 CAD ($341,593 CAD/Unit) 5.17% Cap Rate Santa Ana, CA 92701
Investment Highlights
- 1985 Construction with Copper Plumbing and Individual Gas & Electric Meters
- Over 1.5:1 Covered Parking
- Situated in Strong Rental Location Within Santa Ana
- Desirable Mix of 1 Bed & 2 Bed/2 Bath Units
- 5.1% Cap Rate on Current Income, Approximate 8% on Market
Executive Summary
We are pleased to present the Chestnut Avenue Property in Santa Ana, CA. Constructed in 1985, this property features copper plumbing and offers an over 1.5:1 parking ratio with 34 covered parking spaces. The property consists of 14 one-bed units and 8 two-bed, two-bath units. Over half of the units have balconies, and the amenities include two on-site laundry facilities, an elevator, individual water heaters, and individual gas and electric meters. The property boasts a 5.1% cap rate on current income, with the potential to achieve nearly 8% on market rents. With the potential for a 35% increase in rental income, investors can expect strong in-place cash flow while strategically implementing a plan to maximize their investment returns.
Financial Summary (Actual - 2023) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$606,701
|
$44.15
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$218,263
|
$15.88
|
| Net Operating Income |
$388,438
|
$28.27
|
Financial Summary (Actual - 2023)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $606,701 |
| Annual Per SF | $44.15 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $218,263 |
| Annual Per SF | $15.88 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $388,438 |
| Annual Per SF | $28.27 |
Property Facts
| Price | $7,515,038 CAD | Apartment Style | Low Rise |
| Price Per Unit | $341,593 CAD | Building Class | B |
| Sale Type | Investment | Lot Size | 0.40 AC |
| Cap Rate | 5.17% | Building Size | 13,742 SF |
| Gross Rent Multiplier | 12.13 | No. Stories | 2 |
| No. Units | 22 | Year Built | 1985 |
| Property Type | Multifamily | Parking Ratio | 2.47/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Price | $7,515,038 CAD |
| Price Per Unit | $341,593 CAD |
| Sale Type | Investment |
| Cap Rate | 5.17% |
| Gross Rent Multiplier | 12.13 |
| No. Units | 22 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | B |
| Lot Size | 0.40 AC |
| Building Size | 13,742 SF |
| No. Stories | 2 |
| Year Built | 1985 |
| Parking Ratio | 2.47/1,000 SF |
| Opportunity Zone |
Yes |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 14 | $2,141 CAD | 530 |
| 2+2 | 8 | $2,673 CAD | 790 |
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Walk Score ®
Very Walkable (87)
Bike Score ®
Very Bikeable (71)
PROPERTY TAXES
| Parcel Number | 404-094-17 | Improvements Assessment | $3,068,443 CAD |
| Land Assessment | $4,602,663 CAD | Total Assessment | $7,671,105 CAD |
PROPERTY TAXES
Parcel Number
404-094-17
Land Assessment
$4,602,663 CAD
Improvements Assessment
$3,068,443 CAD
Total Assessment
$7,671,105 CAD
zoning
| Zoning Code | R3 |
| R3 |
-
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Gustavo Fimbres -
Triqor Group
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335 E Chestnut Ave
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