1148 West Civic Center Drive

Santa Ana, CA 92703

$2,700,000
Last Sold Price
3
Beds
14
Baths
9,385 Sq. Ft.
$288 / Sq. Ft.
9,385
Sq. Ft.
$288
per Sq. Ft.

Description

Pleased to present the La Mar Apartments, a 14-unit multifamily property, located at 1148 West Civic Center Drive. Built in 1963, this property features a majority of two-bedroom units, offering a compelling investment potential at $219,643 per unit. With a projected 9.2% CAP rate based on market rents, the La Mar Apartments presents a lucrative opportunity. Its highly desirable location near the Santa Ana Police Station and Civic Center adds to its appeal. A motivated seller with no intention of...Pleased to present the La Mar Apartments, a 14-unit multifamily property, located at 1148 West Civic Center Drive. Built in 1963, this property features a majority of two-bedroom units, offering a compelling investment potential at $219,643 per unit. With a projected 9.2% CAP rate based on market rents, the La Mar Apartments presents a lucrative opportunity. Its highly desirable location near the Santa Ana Police Station and Civic Center adds to its appeal. A motivated seller with no intention of keeping this property makes this an opportunity not to be missed.
  1. Listed by Rick Applebaum • DRE #01273871 • Brokerage DRE #01220368 • Morgan Skenderian • rma@morganskenderian.com
  2. Listed by Paul Espinosa • DRE #01942627 • Brokerage DRE #01220368 • Morgan Skenderian

Property Details for 1148 West Civic Center Drive

Parking Spaces Total
21
Private Pool
No
Total Units
14.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
9385
Assessor Parcel Number
405-082-02
Property Attached YN
true
LISTING UPDATED: 11/14/2024 07:00 AM

Property Details for 1148 West Civic Center Drive

StatusClosed
MLS #PW24172731
Days on Market22
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMixed Use
MLS TypeResidential Income
Year Built1963
Lot Size0.40 AC / 17,428 SF
CountyOrange County

Building Information for 1148 West Civic Center Drive

Stories2Residences-Year Built1963Building Size-Lot Size0.40 AC / 17,428 SF

Property Information for 1148 West Civic Center Drive

Rental Info
Rental Info
  • Tenant Pays: Electricity, Gas
Income / Expense / Tax Details
Income Details
  • Gross Income: $5,040
  • Gross Scheduled Income: $275,040
  • Vacancy Allowance: 8251
  • Gross Operating Income: $266,788
  • Net Operating Income: $167,164
  • Laundry Income: $5,040
  • Gross Multiplier: 11.18
  • Cap Rate: 5.4
  • Financing: Conventional
Expense Details
  • Operating Expense: $99,624
  • New Taxes Expense: $37,600
  • Gardener Expense: $1,080
  • Fuel Expense: $9,836
  • Electric Expense: $9,837
  • Insurance Expense: $7,508
  • Maintenance Expense: $10,672
  • Professional Management Expense: $0
  • Other Expense: $3,418
  • Other Expense Description: other
  • Trash Expense: $9,837
  • Water Sewer Expense: $9,837
  • Total Expenses: $99,624
Tax / Assessment Info
  • Tax Tract Number: 12
  • Tax Census Tract: 751.00
  • Tax Lot: 10
Community / Development
Community / Development
  • Assessments YN: Yes
  • Assessments: Special Assessments
  • Community Features: Gutters, Sidewalks
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Common Area
  • Laundry Equipment Own Lease: Lease
Exterior Features
  • Entry Location: 1
  • Pool Features: None
  • Pool Description: None
Land/Lot Info
  • Lot Features: Lot 10000-19999 Sqft
  • Number Of Units: 14
  • Land Lease: No
  • Land Lease Type: Fee
  • Levels: Two
  • Water: Public
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 0
  • Parking: Yes
  • Parking Garage: Assigned
  • Uncovered Spaces: 6
  • Open Other Spaces Total: 6
  • Parking Garage Spaces: 0
  • Carport Spaces: 15
  • Parking Features: Assigned
Unit Information
Unit 1
  • Unit Type Units Total: 6
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,350
  • Unit Type Total Rent: $8,100
  • Unit Type Pro Forma: 2095
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 8
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,800
  • Unit Type Total Rent: $14,400
  • Unit Type Pro Forma: 2495
  • Unit Type Type: 2
Unit Information
  • Rent Controlled: Yes
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 15
  • Number Of Separate Gas Meters: 15
  • Number Of Separate Water Meters: 1

Property History for 1148 West Civic Center Drive

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 1148 West Civic Center Drive

Taxable ValueLand$115,554Additions$404,322Total$519,876
Tax Record2024$9,443 ($787 / month)
Home Facts
Total Finished SqFt9,385 SqFtAbove Grade Finished SqFt9,385 SqFtStories2Lot Size17,428 SqFtStyleMiscellaneous CommercialYear Built1963CountyORANGEAPN405-082-02

Schools near 1148 West Civic Center Drive

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 - 9 to 12
Rating
School
Distance
Heroes Elementary School
PublicK to 5

Willard Intermediate School
Public6 to 8

Santa Ana High School
Public9 to 12

Nova Academy Early College High
Charter9 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.

Similar Homes

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Similar Sold Homes

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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 Morgan Skenderian, Rick Applebaum, DRE #01273871; Morgan Skenderian, Paul Espinosa, DRE #01942627

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.