Santa Ana, CA 92701,709 E Chestnut AVE
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Santa Ana, CA 92701,709 E Chestnut AVE
Santa Ana, CA 92701,709 E Chestnut AVE
Santa Ana, CA 92701,709 E Chestnut AVE
Santa Ana, CA 92701,709 E Chestnut AVE
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$ 3,550,000
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709 E Chestnut AVE Santa Ana, CA 92701

6,847 Sqft Lot


UPDATED:

Key Details

Property Type Apartment

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

MLS Listing ID PW25111635

HOA Y/N No

Year Built 1983

Lot Size 6,847 Sqft

Property Sub-Type Apartment

Property Description

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.

Location

State CA

County Orange

Area 69 - Santa Ana South Of First

Zoning R3

Interior

Fireplace No

Laundry See Remarks

Exterior

Garage Spaces 12.0

Garage Description 12.0

Pool None

Community Features Biking, Curbs, Park, Street Lights, Sidewalks

Total Parking Spaces 12

Private Pool No

Building

Story 3

Entry Level Two

Sewer Public Sewer

Water Public

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 40407212

Energy Description 3060.0

Acceptable Financing Cash to Existing Loan

Listing Terms Cash to Existing Loan

Special Listing Condition Standard

Lease Land No


CRMLS – RECore
Listed by Rick Applebaum Morgan Skenderian [email protected]

NEARBY SCHOOLS & PROPERTIES

SCHOOLSPROPERTIES
Elementary Schools 20
  • 8

    Jim Thorpe Fundamental

    Public | KG - 5

  • 7

    El Sol Santa Ana Science and Arts Academy

    Public | KG - 8

  • 7

    John Muir Fundamental Elementary School

    Public | KG - 5

  • 7

    Heritage Elementary School

    Public | KG - 5

  • 7

    McPherson Magnet

    Public | KG - 8

  • 6

    Riverdale Elementary School

    Public | KG - 6

  • 6

    Gonzalo Felicitas Mendez Fundamental Intermediate School

    Public | 5 - 8

  • 6

    Franklin Elementary School

    Public | KG - 5

  • 6

    West Orange Elementary School K - 5

    Public | KG - 5

  • 6

    Walker Elementary School

    Public | KG - 5

  • 5

    Lampson Elementary School K - 5

    Public | KG - 5

  • 5

    Greenville Fundamental Elementary School

    Public | KG - 5

  • 5

    Carl Harvey Elementary School

    Public | KG - 5

  • 5

    Santiago K - 8 School

    Public | KG - 8

  • 5

    Martin Elementary School

    Public | KG - 5

  • 5

    Pio Pico Elementary School

    Public | KG - 5

  • 5

    Orange County Educational Arts Academy

    Public | KG - 8

  • 5

    Hoover Elementary School

    Public | KG - 5

  • 5

    Madison Elementary School

    Public | KG - 5

  • 5

    Palmyra Elementary School

    Public | KG - 6

Middle Schools 13
  • 10

    Ocsa

    Public | 7 - 12

  • 5

    Douglas Macarthur Fundamental Intermediate School

    Public | 6 - 8

  • 5

    Columbus Tustin Middle School

    Public | 6 - 8

  • 4

    McFadden Intermediate School

    Public | 6 - 8

  • 4

    Raymond A. Villa Fundamental Intermediate School

    Public | 6 - 8

  • 4

    Sycamore High (Alternative)

    Public | 7 - 12

  • 4

    Currie Middle School

    Public | 6 - 8

  • 1

    Carr Intermediate School

    Public | 6 - 8

  • 1

    Willard Intermediate School

    Public | 6 - 8

  • 1

    Lathrop Intermediate School

    Public | 6 - 8

  • 1

    Sierra Preparatory Academy

    Public | 6 - 8

  • 0

    Community Day Intermediate and High School

    Public | 7 - 12

  • 0

    Ousd Community Day

    Public | 7 - 12

High Schools 14
  • 9

    Nova Academy

    Public | 9 - 12

  • 8

    The Academy

    Public | 9 - 12

  • 8

    Middle College High School

    Public | 9 - 12

  • 6

    Segerstrom High School

    Public | 9 - 12

  • 6

    Tustin High School

    Public | 9 - 12

  • 4

    Saddleback High School

    Public | 9 - 12

  • 3

    Valley High School

    Public | 9 - 12

  • 3

    Century High School

    Public | 9 - 12

  • 2

    Santa Ana High School

    Public | 9 - 12

  • 0

    Lorin Griset Academy

    Public | 9 - 12

  • 0

    Mater Dei High School

    Private | 9 - 12

  • 0

    Central Orange County Cte Partnership (Ctep)

    Public | 10 - 12

  • 0

    Cesar E. Chavez High School

    Public | 9 - 12

  • 0

    Hillview High (Continuation)

    Public | 9 - 12

School and business data provided by Attom Data.
Edie Israel

Edie Israel

Agent | License ID: 01399225

+1(714) 623-3543

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709 E Chestnut AVE