409-415 E. Pine Street is a 12-unit multifamily property located in Santa Ana, CA, offering investors an opportunity to acquire a well-located Orange County asset. Built in 1983, the property consists of two contiguous parcels totaling 8,628 square feet of rentable area situated on a 14,000 square foot lot.
The community features a desirable unit mix of four 1BR/1BA units and eight 2BR/1BA units, along with amenities including on-site laundry, gated entry, individual water heaters, and patios/balconies in select units. Recent capital improvements include roof restoration, HVAC replacements, water heater replacement, and interior updates to select units.
The property is offered at a 6% CAP Rate on current income with 25% rental upside, providing investors with additional growth potential through continued upgrades, turnover, and rent increases.
Home Style:
Traditional
Property Sub Type:
Apartment
Property Attached:
Yes
Lot Area:
14,000 sq. ft.1,301 m2
Bathrooms:
-
(Full:-, Half:-)
Year built:
1983
(Age: 43)
General Listing Location:
Santa Ana, 69 - Santa Ana South of First
County Or Parish:
Orange
Tenant Pays:
Electricity, Gas
Common Interest:
None
Gross Income:
$270,818
Gross Scheduled Income:
$270,818
Net Operating Income:
$177,847
Cap Rate %:
6.0
Rent Control:
Yes
Association Fee:
$0
Land Lease:
No
Electric Expense:
$793
Fuel Expense:
$793
Gardener expense:
1200.0
Insurance Expense:
$10,785
Licenses expense:
1950.0
Maintenance Expense:
$10,508
Taxes expense:
33305.0
Operating Expense:
$84,846
Pest control expense:
$990
Professional Management Expense:
$0
Trash Expense:
$13,545
Water and Sewer Expense:
$6,682
Vacancy Allowance:
$8,125
Vacancy Allowance Rate:
$3
Taxes:
$33,305 /
2026
Tax Lot:
9
Tax Block:
E
South of First Street and east of Main Street.
Floor
Type
Size
Other
-
Kitchen
Measurements not available
-
View:
None
Appliances:
Electric Range, Gas Range, Water Heater
Accessibility Features:
Parking
Number of Buildings:
2
# of Electric Meters:
12
# of Gas Meters:
12
# of Water Meters:
2
Community Features:
Gutter(s), Storm Drain(s), Street Lights, Suburban, Sidewalks
Senior Community:
No
Interior Features:
Balcony
Laundry Features:
Common Area, Laundry Room
Window Features:
Blinds
Pool Features:
None
Private Pool:
No
Spa Features:
None
Lot Features:
36-40 Units/Acre, Landscaped, Rectangular Lot
Fireplace Features:
None
Security Features:
Carbon Monoxide Detector(s), Smoke Detector(s)
Subdivision Name:
Henninger Park/Eastside
Levels:
Two
Num Stories:
2
Entry Level:
1
Entry Location:
1
Construction Materials:
Frame, Stucco, Wood Siding
New Constr.:
No
Foundation:
Slab
Roof:
Composition, Flat, Spanish Tile
Common Walls:
2+ Common Walls
# Units:
12
Heating:
Wall Furnace
Fireplace:
No
Cooling:
Wall/Window Unit(s)
Utilities:
Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected