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1001 N Van Ness Avenue

Santa Ana, CA 92701

$2,200,000

List Price

N/A

bed Beds

N/A

shower Baths

N/A sqft

straighten / sqft

1964

calendar_month Built

Property Description

The subject consists of a two-story, nine-unit woodframe and stucco apartment building constructed in 1964 and last renovated in 2024, when the owners painted the exterior stucco and trim, replaced the roof, windows, many of the HVAC units, bathroom sinks and light fixtures. There are eight one bedroom/one bath units, each approximately 625 square feet in size and one two bedroom/one and one-half bath two-story townhouse approximately 900 square feet in size. The property has an outstanding location just two short blocks directly north of the main portion of the Santa Ana Civic Center. Santa Ana is the county seat and is the location of most of the major city, county, state and federal government buildings in Orange County. Parking in the Civic Center area is scarce and expensive, so the ability to walk to the Civic Center is a major attraction of this location. The property includes six covered carport spaces plus six uncovered spaces. Many similar-sized apartment buildings have been renovated or have been newly-constructed in the neighborhood. Rental rates at the property are low and very rarely are there vacancies in the building. Most apartment buildings with the city of Santa Ana, including the subject, are subject to city and state rent stabilization regulations. The rental rates specified herein are effective October 1, 2024, however, the property may qualify for a capital improvement adjustment in the allowed rental rates which, when approved, may allow the owner a significant increase the annual net operating income per year. The subject is also located in a federal Opportunity Zone, which affords a purchaser potential for certain additional income tax benefits. The subject is located on a corner parcel. Although eight of the apartment units front on North Van Ness Street, the one-two bedroom apartment unit fronts on 10th Street and the public record for this parcel uses the address of 519 West 10th Street.

Listing Information

List Price $2,200,000
Status Active
MLS PW24155809
HOA $0
Type Residential Income
Subtype Apartment
Year Built 1964
Lot Size 9,627
Structure Size N/A
DOM 44
Courtesy Of Carl Reinhart, Broker
Listing Agent Carl Reinhart DRE#00647355
Co-Listing Agent Ritu Dewan DRE#02063518

Interior Features

Laundry Information
Location(s) Common Area
Total Bedroom
Bedrooms N/A
Total Bathroom
Bathrooms N/A
Flooring Information
Material Carpet, Vinyl
Fireplace Information
Features None
Additional Information
Additional Features Balcony, Laminate Counters, Unfurnished
Cooling Type
Cooling Type Electric

Exterior Information

Maps

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shower N/A
straighten N/A
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Listing information courtesy of: Carl Reinhart, Ritu Dewan, Carl Reinhart, Broker . *Based on information from the Association of REALTORS/Multiple Listing as of Oct 23rd, 2024 at 12:45 AM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.