1001 North Van Ness Avenue

Santa Ana, CA 92701

$2,200,000
Price
3
Beds
10
Baths
5,849 Sq. Ft.
$376 / Sq. Ft.
5,849
Sq. Ft.
$376
per Sq. Ft.

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...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.
  1. Listed by Carl Reinhart • DRE #00647355 • Brokerage DRE #00647355 • Carl Reinhart, Broker • 714-404-8020
  2. Listed by Ritu Dewan • DRE #02063518 • Brokerage DRE #01897784 • CENTURY 21 Affiliated

Property Details for 1001 North Van Ness Avenue

View
Neighborhood
Parking Spaces Total
12
Private Pool
No
Cooling Type
Electric
Total Units
9.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
5849
LISTING UPDATED: 10/22/2024 10:44 AM

Property Details for 1001 North Van Ness Avenue

StatusActive
MLS #PW24155809
Days on Market44
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1964
CountyOrange County

Building Information for 1001 North Van Ness Avenue

Building/Complex1001 N Van Ness AveFloor-Stories2Residences-Pet Policy-Year Built1964Building Size-

Property Information for 1001 North Van Ness Avenue

Rental Info
Rental Info
  • Tenant Pays: Electricity, Gas, Parking Fee, Telephone
Income / Expense / Tax Details
Income Details
  • Gross Income: $1,272
  • Gross Scheduled Income: $159,809
  • Vacancy Allowance: 0
  • Vacancy Allowance Rate: 0
  • Gross Operating Income: $159,809
  • Net Operating Income: $106,948
  • Number Of Rented Garages: 2
  • Garage Rental Rate: $53
  • Garage Income: $1,272
  • Laundry Income: $3,600
  • Gross Multiplier: 13.77
  • Cap Rate: 4.86
  • Current Financing: None
Expense Details
  • Operating Expense: $52,861
  • New Taxes Expense: $25,165
  • Fuel Expense: $0
  • Pest Control Expense: $508
  • Electric Expense: $7,620
  • Insurance Expense: $4,820
  • Maintenance Expense: $4,298
  • Professional Management Expense: $750
  • Other Expense: $2,500
  • Other Expense Description: Misc.
  • Trash Expense: $1,800
  • Water Sewer Expense: $5,400
  • Total Expenses: $52,861
Tax / Assessment Info
  • Tax Block: 4
  • Tax Tract Number: 93
  • Tax Census Tract: 750.03
  • CFD/Mello-Roos Fee: $0
  • Tax Lot: 10
Community / Development
Community / Development
  • Assessments YN: No
  • Assessments: None
  • Community Features: Curbs, Sidewalks, Urban
Property / Structure Info
Interior Features
  • Appliances: Electric Oven, Electric Range, Electric Water Heater, Disposal
  • Equipment: Dryer, Dryer Included, Laundry Area, Washer, Washer Included
  • Interior Features: Balcony, Formica Counters, Unfurnished
  • Room Type: Kitchen, Living Room, Primary Bathroom
  • Water Heater Features: Electric
  • Water Heater Type: Electric
  • Laundry: Yes
  • Laundry Features: Common Area, Dryer Included, Washer Included
  • Laundry Equipment Own Lease: Own
  • Fireplace Features: None
  • Fireplace Rooms: None
  • Cooling: Electric
  • Heating Type: Electric
  • Heat Source: Electric
  • Heating: Electric
  • Flooring: Carpet, Vinyl
Exterior Features
  • Security Features: Smoke Detector(s)
  • Construction Materials: Frame, Stucco
  • Exterior Construction: Frame, Stucco
  • Exterior: Stucco
  • Entry Location: Front of building
  • Foundation Details: Slab
  • Property Condition: Repairs Cosmetic
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
Land/Lot Info
  • Lot Features: 2-5 Units/Acre, Front Yard, Garden, Landscaped, Level with Street, Lot 6500-9999, Rectangular Lot, Level, Near Public Transit, Over 40 Units/Acre, Paved
  • Number Of Units: 9
  • Land Lease: No
  • Land Lease Type: Fee
  • Topography: Level
  • Road Surface Type: Paved
  • Road Frontage Type: City Street
  • Levels: Two
  • Water: Public
  • Sewer: Public Sewer
  • Utilities: Electricity Connected, Sewer Connected, Water Connected
  • Electric: 220 Volts in Laundry
  • Water Source: Public
Parking Info
  • Garage Spaces: 0
  • Parking: Yes
  • Parking Garage: Assigned, Carport, Private, Uncovered
  • Uncovered Spaces: 6
  • Open Other Spaces Total: 6
  • Parking Garage Spaces: 0
  • Carport Spaces: 6
  • Parking Features: Assigned, Carport, Detached Carport, Covered, Asphalt, Paved, Driveway Level, On Site, Private, Uncovered
Property / Structure Info
  • Builders Tract Name: Other
  • Builders Tract Code: Other (OTHR)
Unit Information
Unit 1
  • Unit Type Units Total: 8
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $11,170
  • Unit Type Total Rent: $11,170
  • Unit Type Pro Forma: 11170
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,741
  • Unit Type Total Rent: $1,741
  • Unit Type Pro Forma: 1741
  • Unit Type Type: 2
Unit Information
  • Number Of Units Leased: 9
  • Rent Controlled: Yes
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 10
  • Number Of Separate Gas Meters: 1
  • Number Of Separate Water Meters: 1
  • Number With Dishwasher: 9
  • Number With Range: 9
  • Number With Carpet: 9
  • Number With Disposal: 9
  • Number With Drapes: 9
  • Number With Patio: 1

Property History for 1001 North Van Ness Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Schools near 1001 North Van Ness Avenue

This home is within Santa Ana Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Charter - K to 8
Rating
School
Distance
Heroes Elementary School
PublicK to 5

Willard Intermediate School
Public6 to 8

Santa Ana High School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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1001 North Van Ness Avenue is a multi-family home for sale in Santa Ana, CA 92701. This property was listed for sale on July 28, 2024 by Carl Reinhart, Broker, it's currently listed at $2,200,000. This listing's school district is Santa Ana Unified School District. Nearby schools include Heroes Elementary School, Willard Intermediate School and Santa Ana High School. 1001 North Van Ness Avenue is a 3-bed, 10-bath, 5,849 sqft multi-family home built in 1964.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Carl Reinhart, Broker, Carl Reinhart, DRE #00647355; CENTURY 21 Affiliated, Ritu Dewan, DRE #02063518

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.