520 Walnut StSanta Ana, CA 92701

Property Details for 520 Walnut St

Year built

1983

Lot size

0.48 AC

Property size (Sq ft)

15,552 SF

Property type

Apartment buildings

Description

This exceptional 16-unit apartment building in Santa Ana, CA, presents a compelling investment opportunity. Boasting 15,552 square feet across three, two-story buildings on a 0.48-acre lot (APN 404-081-01), the property offers exclusively two-bedroom townhouses, each featuring private patios and in-unit laundry hookups. Twelve units have undergone renovations or partial renovations, incorporating high-quality upgrades such as shaker-style cabinets, quartz countertops, and updated appliances. The property includes a gated subterranean parking garage with approximately 40 spaces. Currently generating a NOI of $319,481 (5.44% cap rate), a pro-forma NOI of $393,885 (6.70% cap rate) is projected. The asking price is $5,875,000 ($377.76/sq ft and $367,187.50/unit). Its prime location, just south of Downtown Santa Ana's vibrant 4th Street, offers residents easy access to retail, dining, and entertainment. Proximity to Downtown Plaza, Santa Ana College, and major freeways (I-5 and SR-55) further enhances its appeal. The property also presents potential for increased rental income through the conversion of existing space into an accessory dwelling unit (ADU). Built in 1983, this fee-simple ownership opportunity is ideal for investors seeking strong returns. Drive-by only; do not disturb residents.

Location Insight

City

Santa Ana

County

Orange

State

California

Latitude

33.7444

Longitude

-117.861

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].