$15,150,000
$15,950,000
5.0%For more information regarding the value of a property, please contact us for a free consultation.
510 Mortimer Street Santa Ana, CA 92701
3 Beds
4 Baths
0.5 Acres Lot
Key Details
Sold Price $15,150,000
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Sold
Purchase Type For Sale
MLS Listing ID OC23172673
Bedrooms 3
Lot Size 0.500 Acres
Property Description
Park City View Luxury Apartments is a 58-unit multifamily investment opportunity located in Santa Ana, CA. With a prime Downtown Santa Ana location, residents of Park City View Luxury Apartments are at the epicenter of all that Santa Ana has to offer. The property is conveniently located within walking distance to the abundance of retail, dining, and entertainment options along East 4th Street. In recent years, Downtown Santa Ana has seen a revitalization which is exemplified by Park City View Luxury Apartments location within a 0.50-mile radius of several major nearby developments. Additionally, the property is just over 1.25 miles from Santa Ana College, the 3rd top employer within the city, per Santa Anas 2022 Annual Comprehensive Financial Report. Furthermore, residents enjoy the propertys close proximity to Interstate 5, connecting residents to major employment hubs throughout Orange and Los Angeles Counties. Situated on a 0.50-acre lot, Park City View Luxury Apartments offers a diverse mix of studio, one, and two-bedroom floor plans. The property features highly-desirable amenities including a secure gated parking garage, gated pedestrian access, on-site laundry facilities, and private patios or balconies. Currently, select units have undergone significant renovations, including vinyl flooring, shaker-style cabinetry, quartz countertops, and more, all of which have allowed current ownership to achieve a rental premium over non-renovated units. There is a clear and proven opportunity for new ownership to further increase the income stream through the continuation of th
Park City View Luxury Apartments is a 58-unit multifamily investment opportunity located in Santa Ana, CA. With a prime Downtown Santa Ana location, residents of Park City View Luxury Apartments are at the epicenter of all that Santa Ana has to offer. The property is conveniently located within walking distance to the abundance of retail, dining, and entertainment options along East 4th Street. In recent years, Downtown Santa Ana has seen a revitalization which is exemplified by Park City View Luxury Apartments location within a 0.50-mile radius of several major nearby developments. Additionally, the property is just over 1.25 miles from Santa Ana College, the 3rd top employer within the city, per Santa Anas 2022 Annual Comprehensive Financial Report. Furthermore, residents enjoy the propertys close proximity to Interstate 5, connecting residents to major employment hubs throughout Orange and Los Angeles Counties. Situated on a 0.50-acre lot, Park City View Luxury Apartments offers a diverse mix of studio, one, and two-bedroom floor plans. The property features highly-desirable amenities including a secure gated parking garage, gated pedestrian access, on-site laundry facilities, and private patios or balconies. Currently, select units have undergone significant renovations, including vinyl flooring, shaker-style cabinetry, quartz countertops, and more, all of which have allowed current ownership to achieve a rental premium over non-renovated units. There is a clear and proven opportunity for new ownership to further increase the income stream through the continuation of the in-place renovation plan by upgrading all units to high-end specifications.
Location
State CA
County Orange
Area Oc - Santa Ana (92701)
Zoning Assessor
Building
Lot Description Curbs, Sidewalks
Story 3
Others
Monthly Total Fees $1, 183
Acceptable Financing Exchange
Space Rent $9,379
Listing Terms Exchange
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Bought with Tyler Leeson • Marcus & Millichap RE Invest