Homes for sale - 1001 N Van Ness AVE, Santa Ana, CA 92701

Key Details

Property Type Condo

Sub Type Apartment

Listing Status Pending

Purchase Type For Sale

Subdivision Civic Center

MLS Listing ID PW24155809

Year Built 1964

Lot Size 9,626 Sqft

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

Interior

Heating Electric

Cooling Electric

Flooring Carpet,Vinyl

Fireplaces Type None

Laundry Common Area

Exterior

Parking Features Assigned,Asphalt,Covered,Carport,Detached Carport,Driveway Level,On Site,Paved,Private,Uncovered

Pool None

Community Features Curbs,Sidewalks,Urban

Utilities Available Electricity Connected,Sewer Connected,Water Connected

View Y/N Yes

View Neighborhood

Building

Lot Description 2-5 Units/Acre,Front Yard,Garden,Landscaped,Level,Over 40 Units/Acre,Near Public Transit,Paved,Rectangular Lot,Street Level

Story 2

Foundation Slab

Sewer Public Sewer

Water Public

New Construction No

Others

Acceptable Financing 1031 Exchange

Listing Terms 1031 Exchange

Special Listing Condition Standard