#OC25079080, Ruben Khorsandi, Listing office: Alliance Investment RE Group
$3,550,000 List price
709 E Chestnut Ave Santa Ana, CA 92701
0.2 acres
Condo
Property details
About 709 E Chestnut Ave
The Chestnut Apartments is a turnkey, 12-unit apartment building located in the heart of Santa Ana. Built in 1983 and just minutes away from the historic Downtown District, this property represents one of the most attractive multifamily investment opportunities in the county. It boasts a compelling 6.2% CAP Rate based on current rental income. Further enhancing the investment potential, buyers have the option to assume the existing financing, which requires only a 30% down payment and features a below-market fixed interest rate that remains in effect through November 2029. This advantageous financing presents a rare opportunity to take advantage of positive leverage, dramatically increasing the cash-on-cash return. The Chestnut Apartments redefines urban living with spacious studio apartment, each generously proportioned to function as complete one-bedroom units. Enhancing the living experience, every unit is equipped with its own washer and dryer, offering tenants the convenience of in-home laundry facilities. Recent extensive interior renovations elevate the property to new heights, featuring luxurious materials, contemporary kitchens, stainless steel appliances, vinyl/plank flooring, upgraded bathrooms, and a range of other enhancements. The exterior of the property has undergone a fresh transformation with new paint and state-of-theart exterior lighting, adding to the overall appeal. Previously, ownership had received full approval for the addition of three Accessory Dwelling Units (ADUs). These ADU's, once constructed, add a projected 29.7% increase in gross income.
Highlights
Home typeCondominium
StatusActive
Lot size0.1572 Acres
Year built1983
MLS #PW25111635
Garage12 spaces
Summary
- Garage Space: 12 spaces
- Private Pool: No
- List Price: $3,550,000
- HOA Amount: $0
- Annual Tax Amount: $31,790
- Tax Year: 2024
- Directions: South of 1st Street and East of Main Street
- Year Built: 1983
- Stories: 3
- Lot Size: 0.1572 Acres
- MLS Number: PW25111635
- MLS Name: CRMLS
- Office Name: Morgan Skenderian
- Office Email: rma@morganskenderian.com
- Listing Agent: Rick Applebaum
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: 7/20/2025, 12:45:29 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Price information
Property sales
| Date | Event | Price |
|---|---|---|
| Dec 27, 2022 | Home Sold | $2,520,000 |
| Mar 23, 2018 | Home Sold | $1,700,000 |
| Sep 01, 2015 | Home Sold | $1,380,000 |
| Nov 10, 2000 | Home Sold | $525,000 |
Tax history
| Year | Assessment | Property Tax |
|---|---|---|
| 2024 | $2,570,400 | $31,790 |
| 2023 | $2,520,000 | $30,996 |
| 2022 | $1,822,743 | $23,399 |
| 2021 | $1,787,003 | $22,868 |
| 2020 | $1,768,680 | $22,895 |
| 2019 | $1,734,000 | $18,732 |
| 2018 | $1,435,752 | $18,732 |
| 2017 | $1,407,600 | $18,568 |
History based on county public records data.
Nearby schools
5
Roosevelt Elementary School
Public District KG-5
0.1 mi
•501 S Halladay St
5
Edward B. Cole Academy
Public Charter KG-5
0.3 mi
•333 E Walnut St
3
Garfield Elementary School
Public District KG-5
0.4 mi
•850 Brown 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 $56,710. The most common annual income of people living in Santa Ana, CA is between $35k-100k. Typical family type is married, with kids. Typical level of education for residents in this area is high school diploma.
How much money do the neighbors make?
22%
<35k
65%
35k-100k
10%
100k-200k
3%
200k+
What level of education do the neighbors have?
High School Diploma
Post Secondary Degree
What types of families live nearby?
14%
Single, No Kids
25%
Single, with Kids
11%
Married, No Kids
50%
Married, with Kids
Are the neighbors home owners or renters?
Home Owners
Renters
How old are people in this area?
23%
<11 yrs old
13%
12-17 yrs old
30%
18-34 yrs old
29%
35-64 yrs old
5%
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
Foot Locker
H&M
Where do the neighbors go to eat?
Jack In The Box
Little Caesars
Boston Market
What do the neighbors drive?
Nissan
Dodge
Honda
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 709 E Chestnut Ave
The listing price of 709 E Chestnut Ave property is $3,550,000.
The property 709 E Chestnut Ave is a condo located in Santa Ana, California, 92701.
Active Listing: 709 E Chestnut Ave is For Sale (Active/New) which means the seller is accepting offers.
The nearby schools for 709 E Chestnut Ave are: Roosevelt Elementary School (GreatSchools Rating 5/10), Edward B. Cole Academy (GreatSchools Rating 5/10), Garfield Elementary School (GreatSchools Rating 3/10), Raymond A. Villa Fundamental Intermediate School (GreatSchools Rating 3/10), Lathrop Intermediate School (GreatSchools Rating 3/10), Orange County Educational Arts Academy (GreatSchools Rating 5/10), Advanced Learning Academy (GreatSchools Rating 5/10), Santa Ana High School (GreatSchools Rating 4/10), Nova Academy Early College High School (GreatSchools Rating 6/10).
According to the records, the last property tax for 2024 is $31,790 (source: MLS/based on county public records data).
The last sale was on December 27, 2022 for $2,520,000 (source: MLS/tax record).
The property at 709 E Chestnut Ave has 0 bathroom.
The year of construction for 709 E Chestnut Ave is 1983.
This home is located at 709 E Chestnut Ave in Santa Ana, CA and zip code 92701 in the Eastside neighborhood. Features: 0 bathroom. It has been listed on Rocket Homes since May 19, 2025 and is currently priced at $3,550,000.
In June 2025 more than 39 listings in Santa Ana, CA were sold above the asking price. During the same period more than 16 listings were sold at asking price, while more than 38 were sold below. In June 2025 in Santa Ana, CA there were 4.6% more homes for sale than in May. While the average time on the market in June 2025 was 33 days, the median list price was $895,000.
From Rocket Homes Real Estate and based on county public records data.