520 East Walnut Street
$5,875,000
2
32
15,552
15,552
$378
Description
520 East Walnut Street is a 16-unit multifamily investment property located in Santa Ana, CA. Built in 1983, 520 East Walnut Street offers exclusively two-bedroom townhomes with private patios. The property features highly desirable amenities including in-unit laundry hookups, central A/C and heating, controlled pedestrian access, and a gated subterranean parking garage. Currently, there are 12 renovated or partially renovated units that feature high-quality upgrades including appliances, shaker-style...520 East Walnut Street is a 16-unit multifamily investment property located in Santa Ana, CA. Built in 1983, 520 East Walnut Street offers exclusively two-bedroom townhomes with private patios. The property features highly desirable amenities including in-unit laundry hookups, central A/C and heating, controlled pedestrian access, and a gated subterranean parking garage. Currently, there are 12 renovated or partially renovated units that feature high-quality upgrades including appliances, shaker-style cabinets, quartz countertops, plumbing fixtures, recessed lighting, and more. These improvements have allowed ownership to charge a significant rental premium over non-renovated units, with an average rent of $2,795 for the renovated units. Furthermore, current ownership has identified under-utilized community space that could further increase rental income and diversify the overall unit mix through the conversion of a storage room into an accessory dwelling unit (ADU). 520 East Walnut Street benefits from its excellent central Santa Ana location just south of Downtown Santa Ana and its bustling 4th Street, providing residents with convenient access to a plethora of retail, dining, and entertainment options. Additionally, the property is within walking distance of Downtown Plaza, granting residents easy access to everyday needs. 520 East Walnut Street is located within a 1-mile radius of all three levels of schooling, including Lowell Elementary School, Lathrop Intermediate School, and Santa Ana High School. Furthermore, the property is just over 1.50 miles from Santa Ana College, the 3rd top employer within the city per Santa Ana’s 2023 Annual Comprehensive Financial Report. Residents enjoy 520 East Walnut Street’s close proximity to Interstate 5 and State Route 55 as they connect residents to employment hubs throughout Southern California. Given the property’s high-quality unit finishes and close proximity to Santa Ana’s most popular destinations, 520 East Walnut Street is well suited to provide investors with strong returns over the long-term investment horizon.
- Listed by Tyler Leeson • DRE #01451551 • Brokerage DRE #00530854 • Marcus & Millichap RE Invest • tleeson@marcusmillichap.com
Property Details for 520 East Walnut Street
Parking Spaces Total
40
Private PoolNo
Total Units16.0
Building TypeDetached
Lot Size SourceAssessor
Living Area15552
Assessor Parcel Number404-081-01
Property Attached YNfalse
LISTING UPDATED: 10/14/2024 07:17 AM
Property Details for 520 East Walnut Street
Status | Active |
---|---|
MLS # | OC24212983 |
Days on Market | 68 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Residential Income |
Year Built | 1983 |
County | Orange County |
Building Information for 520 East Walnut Street
Building/Complex520 E Walnut StFloor-Stories2Residences-Pet Policy-Year Built1983Building Size-
Property Information for 520 East Walnut Street
Property History for 520 East Walnut Street
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 520 East Walnut Street
Taxable ValueLand$3,876,000Additions$1,198,500Total$5,074,500
Tax Record2024$60,687 ($5,057 / month)
Home Facts
Total Finished SqFt1,316 SqFtAbove Grade Finished SqFt1,316 SqFtLot Size20,520 SqFtStyleMulti-Family Dwelling (2-4)Year Built1982CountyORANGEAPN404-081-01
Schools near 520 East Walnut Street
This home is within Santa Ana Unified School District.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | K to 5 | |||
Public - | K to 8 | |||
Public - | 9 to 12 | |||
Charter - | K to 5 |
Rating | School | Distance |
---|---|---|
Theodore Roosevelt Elementary School PublicK to 5 | ||
Sierra Preparatory Academy PublicK to 8 | ||
Century High School Public9 to 12 | ||
Edward B. Cole Academy CharterK to 5 |
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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