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SOLD 12/4/2020
406 W Washington Avenue, Santa Ana, CA 92706
1
bed
1
bath
5200
ft2
· 10237
ft2 lot
$2,200,000
$417 / ft2
Listing provided courtesy of Listing Broker: Sheng Wang, Century 21 Care.
Source CRMLS.
*Great Location in the City of Santa Ana. The 10 Units Apartment Building is in An Excellent Rental Area with Low Vacancy Rates. Two-Story 10-Unit Apartment Building is Located in High Demand Rental Desirable Neighborhood in the City of Santa Ana (Next to City of Tustin ). Building Inside Total 5,200 Sq. ft. New Paint on the Building. Newer Windows and All Units have been Fully Renovated. All One Bedroom with One Bath. Monthly Rent $1,350 with Individually Meters for Gas And Electricity. Annual Gross Income Approx. $162,000, Annual Expense $ 44,500 which includes Property Tax, Insurance , Gardener, Common Area Electricity , Water, Trash and Management Fee. Annual Net Operating Income Approx. $117,500. Cap Rate: 5.41 % with Current Property Tax Rate. Performa Annual Rental Income will be $173,400. Landlord Pays the Water/Trash/ Gas/ Gardener/ Property Tax /Insurance/ Management Fee . Separate On-Site None Operated Washer or Dryer. Currently No Additional Laundry Income. 10 Cars Garages Parking Spaces in Back of the Building. plus other parking spaces . Close to Freeway 5, Next to City of Tustin. Shopping Centers, Restaurants & Parks. Tenants with a "Month-To-Month" Lease Term Which Provides An Investor the Opportunity to Adjust the Rent in the future. Great investment opportunity For The Investor to Keep as a Long Term Investment. *Please Drive-By Only and DO NOT Enter the Building or Disturb Any Tenants*
HOA
$—/month
On market
13 hours
Year built
1949
Property type
Condo
Parking
10
MLS
TR20180731
Price / Sq.Ft.
$417 / ft2
Status
Closed
Flyhomes Cash Offer
Based on a price of $2,170,000
Rebate:
Cash Offer Costs:
Net Rebate:
Negotiating Power:
Flyhomes Cash Offer
$0
$0
+$422/day
$0
Best
Flyhomes Guaranteed Offer
$10,850
- -
$10,850
Better
Discount Brokerage
$8,397
not offered
$8,397
Average
Traditional Brokerage
$0
not offered
$0
Variable
Legal Disclaimer: The Savings Calculator is intended for planning and educational purposes only, and should not be solely relied upon in your decision to participate in Flyhomes’ Cash Offer or other programs.Read more
Property Details
Interior Features & Layout
Appliances
•   
Laundry Details: Individual Room
•   
Laundry: 1
Rooms Info
•   
Average3 Bed Area Units: Square Feet
•   
Average Studio Area Units: Square Feet
•   
Average2 Bed Area Units: Square Feet
•   
Average1 Bed Area Units: Square Feet
Interior Size
•   
Building Area Total: 5200.00
Property, Lot, Community & Exterior Features
Parking Info
•   
Garage Spaces: 10.00
Building Info
•   
Building Area Units: Square Feet
•   
Stories Total: 2
•   
Num Stories: Two
•   
Year Built Source: Assessor
Lot Info
•   
Lot Features: Lot 10000-19999 Sqft
•   
Lot Size Source: Assessor
•   
Elevation Units: Feet
•   
Lot Size Acres: 0.2350
•   
Lot Size Area: 10237.0000
•   
Lot Size Units: Square Feet
Community Info
•   
Number Of Buildings: 1
•   
Total Units: 10
Property Features
•   
Common Walls: No Common Walls
Property Type
•   
Common Interest: Community Apartment
Utilities & Other Information
Utilities
•   
Number Of Separate Electric Meters: 11
•   
Number Of Separate Gas Meters: 11
•   
Number Of Separate Water Meters: 1
Water & Sewer Info
•   
Water Source: Public
•   
Sewer: Public Sewer
Listing Details, Costs & Financing Information
Financial Info
•   
Water Sewer Expense: 6468.00
•   
Cap Rate: 5.41
•   
Fuel Expense: 65.00
•   
Trash Expense: 4100.00
•   
New Taxes Expense: 21980.00
•   
Insurance Expense: 5670.00
•   
Professional Management Expense: 4800.00
•   
Total Expenses: 44500.00
•   
Gross Scheduled Income: 162000.00
•   
Operating Expense: 44500.00
•   
Gardener Expense: 1200.00
•   
Rent Control Yn: 1
Tax/Assessment Info
•   
Gross Income: 162000.00
•   
Tax Year: 2020
•   
Taxes: 26159.14
Lease Info
•   
Net Operating Income: 117500.00
Listing Info
•   
Status: Closed
Other
•   
Electric Expense: 214.00
Multi Unit Information
Unit 1 Information
•   
Unit 1 Bedrooms: 1
•   
Unit 1 Total Units: 10
•   
Unit 1 Furnished Units: Unfurnished
•   
Unit 1 Garage Spaces: 0.00
•   
Unit 1 Bathrooms: 1
•   
Unit 1 Actual Rent: 1350.00
•   
Unit 1 Total Rent: 13500.00
Multi Unit Information
•   
# Of Units: 1
School Neighborhood & Directions
Location
•   
Other Subdivision Name: Unknown
•   
Subdivision: Other (OTHR)
•   
Community Features: Suburban
•   
Directions: Between Main and Flower
The information contained in this listing has not been verified by Flyhomes and should be verified by the buyer.

Data last updated: May 11, 2021 2:48pm
Neighborhood snapshot
29
Properties for sale
8
Median days on market
$473.52
Median sold price/sqft
102.06%
Sold/List %
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Property History
12/04/2020
12/04/2020
CRMLS #TR20180731
sold
CRMLS #TR20180731
$2,170,000
--1.36%
12/03/2020
12/03/2020
Public Record
sold
Public Record
$2,200,000
+1.38%
09/01/2020
09/01/2020
CRMLS #TR20180731
active
CRMLS #TR20180731
$2,170,000
09/01/2020
09/01/2020
CRMLS #TR20180731
pending
CRMLS #TR20180731
$2,170,000
+7.43%
05/22/2018
05/22/2018
Public Record
sold
Public Record
$2,020,000
+68.33%
See more property history
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