1001 N Van Ness AVE Active Save Request In-Person Tour Request Virtual Tour
Santa Ana,CA 92701
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Square Footage 5,849 sqft
Price per Sqft $376
Subdivision Other (Othr)
MLS Listing ID PW24155809
Construction Status Repairs Cosmetic
HOA Y/N No
Year Built 1964
Lot Size 9,626 Sqft
Acres 0.221
Property 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 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.
Location
State CA
County Orange
Area 70 - Santa Ana North Of First
Rooms
Other Rooms Kitchen,Living Room,Primary Bathroom
Interior
Interior Features Balcony,Formica Counters,Unfurnished
Heating Electric
Cooling Electric
Flooring Carpet,Vinyl
Fireplaces Type None
Appliance Electric Oven,Electric Range,Electric Water Heater,Disposal
Laundry Common Area,Dryer Included,Washer Included
Exterior
Garage Assigned,Carport,Detached Carport,Covered,Asphalt,Paved,Driveway Level,On Site,Private,Uncovered
Pool None
Community Features Curbs,Sidewalks,Urban
Utilities Available Electricity Connected,Sewer Connected,Water Connected
View Y/N Yes
View Neighborhood
Private Pool No
Building
Lot Description 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
Story 2
Foundation Slab
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Construction Status Repairs Cosmetic
Others
Senior Community No
Security Features Smoke Detector(s)
Acceptable Financing None
Listing Terms None
Financing None
Special Listing Condition Standard
Confidential INFO
TERMS 1031 Exchange
LIST AGRMT Exclusive Right To Sell
LIST SERVICE Full Service
PRIVATE REMARKS Co listing agent Ritu Dewan is related to the seller.
SHOW CONTACT TYPE Agent
SHOW CONTACT NAME Carl Reinhart
SHOW CONTACT PH (714) 404-8020
SHOW INSTRUCTIONS Drive-by only. Please do not enter the property or disturb the tenants. Interior showings available after submission of acceptable purchase offer.