#OC24123574, Tyler Leeson, Listing Office: Marcus & Millichap RE Invest
$9,700,000 List price
511 E Washington Ave Santa Ana, CA 92701
1.1 acres
Condo
Property details
About 511 E Washington Ave
The Washington Avenue Apartments is a 30-unit apartment community located in the very desirable French Court neighborhood of Santa Ana, one of the strongest rental markets in Southern California. The City of Santa Ana is a historic city with a vibrant downtown located in Orange County. Built in 1964, the subject property offers a very attractive unit mix comprised of one-, two-, and three-bedroom units totaling 26,707 square feet situated on just over one acre of land. Approximately 75% of the unit mix consists of two- and three-bedroom units. Some amenities include gated entry with a large courtyard, ample on-site parking including carports, BBQ area, patios/balconies, and an on-site laundry facility. Some recent renovations and upgrades of interiors and exterior include granite countertops, vinyl/plank flooring, new tubs and showers, new appliances, new windows and sliders, new railings, a substantial deck replacement/resurfacing, new A/C units, some new bathrooms and kitchens, and the bulk of the individual water heaters have been replaced. This offering represents an opportunity for an investor to achieve a 5.88% CAP Rate and 6.14% Cash-on-Cash return, on current income, for a well-located and stable/turnkey investment property in the desirable rental market of Santa Ana, California. Additionally, The Washington Avenue Apartments are well suited to provide investors with strong returns and value appreciation over the long-term investment horizon.
Highlights
Home typeCondominium
StatusActive
Lot size1.067 Acres
Year built1964
MLS #OC24202271
Summary
- MLS Number: OC24202271
- MLS Name: CRMLS
- Office Name: Marcus & Millichap RE Invest
- Office Email: gbassirpou@marcusmillichap.com
- Listing Agent: Greg Bassirpou
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
The information being provided by California Regional Multiple Listing Service, Inc. (“CRMLS”) is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Any information relating to a property referenced on this web site comes from CRMLS. Properties may or may not be listed by the office/agent presenting the information. Real estate listings held by brokerage firms other than this broker are marked with the Internet Data Exchange logo and detailed information about them includes the names of the listing brokers and listing agents. MLS search engine provided by IHR Technology Services. This data is updated every 2 hours. Some properties appearing for sale on this display may subsequently have sold and may no longer be available.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 4/13/2025, 1:20:53 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
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$9,700,000
511 E Washington Ave
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Price information
Property sales
| Date | Event | Price |
|---|---|---|
| Dec 22, 2021 | Home Sold | $9,200,000 |
| Sep 18, 1997 | Home Sold | $1,000,001 |
Tax history
| Year | Assessment | Property Tax |
|---|---|---|
| 2024 | $9,571,680 | $114,164 |
| 2023 | $9,384,000 | $111,352 |
| 2022 | $9,200,000 | $110,208 |
| 2021 | $4,024,761 | $51,939 |
| 2020 | $3,983,493 | $51,996 |
| 2019 | $3,905,386 | $49,188 |
| 2018 | $3,828,810 | $49,188 |
| 2017 | $3,753,736 | $48,764 |
History based on county public records data.
Nearby schools
5
Davis Elementary School
Public District KG-5
0.1 mi
•1405 French St
3
Garfield Elementary School
Public District KG-5
0.5 mi
•850 Brown St
5
Edward B. Cole Academy
Public Charter KG-5
0.8 mi
•333 E Walnut St
School ratings are a score out of 10, where 10 is the highest and 1 is the lowest.
Neighborhood
The neighbors living near this home have an average income of $55,288. The majority of Santa Ana, CA residents have income between $35k-100k annually. The majority of families are married, with kids. The majority of residents in this area have high school diploma education.
How much money do the neighbors make?
24%
<35k
54%
35k-100k
22%
100k-200k
0%
200k+
What level of education do the neighbors have?
High School Diploma
Post Secondary Degree
What types of families live nearby?
20%
Single, No Kids
27%
Single, with Kids
11%
Married, No Kids
42%
Married, with Kids
Are the neighbors home owners or renters?
Home Owners
Renters
How old are people in this area?
26%
<11 yrs old
12%
12-17 yrs old
32%
18-34 yrs old
29%
35-64 yrs old
1%
65+ yrs old
What do the neighbors do for fun?
Mexican League Soccer
Pro Boxing
Major League Soccer (MLS)
Where do the neighbors shop?
Ross Dress For Less
H&M
Foot Locker
Where do the neighbors go to eat?
Jack In The Box
Boston Market
Little Caesars
What do the neighbors drive?
Nissan
Honda
Dodge
What do the neighbors listen to?
Rhythmic Contemporary Hits
Urban Adult Contemporary
All data provided by Home Junction and Claritas
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Frequently asked questions
About 511 E Washington Ave
This home is located at 511 E Washington Ave in Santa Ana, CA and zip code 92701 in the French Court neighborhood. Features: 0 bathroom. It has been listed on Rocket Homes since September 30, 2024 and is currently priced at $9,700,000.
Over 36 listings were sold over their listed price in March 2025 in Santa Ana, CA. In the same period over 37 listings were sold below the listed price and 12 listings were sold for the listed price. The number of homes for sale in Santa Ana, CA increased by 7.1% between February and March 2025. The median list price of listings available in March 2025 was $890,800, while the average time on the real estate market was 32 days.
From Rocket Homes Real Estate and based on county public records data.