422 E. Chestnut Avenue | Santa Ana
INVESTMENT OPPORTUNITY | Santa Ana, Orange County Fourplex For Sale
4.42% Cap Rate
NEW-TO-MARKET fourplex for sale in Orange County, California! Nestled near Downtown Santa Ana Historic District, these 4-units occupy quality tenants; many of which long-term, that display pride of residency. Great income producing fourplex with upside in rents and low maintenance.
$1,450,000
ABOUT The Property
The Ramzi Team of Engel & Völkers proudly present Chestnut Chateau. This pride of ownership, elegant and lovely 4-plex built in 1925 sits on a massive corner lot of almost 12,000 square feet. Each unit is pleasantly spacious with just under 1,000 square feet of living area and is equipped with its own 1-car garage. All units have their own inside laundry hookups. Chestnut Chateau offers much character, charm and historical appeal. The entire building has been upgraded which includes electrical, cooper plumbing, tankless water heaters, granite countertops, newer appliances, newer bathrooms, tile floors, hardwood flooring, paint in-and-out, extensive professional landscaping, outdoor courtyard area, new fencing, new staircases, and much more.
City Stats at a Glance
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Ideal LOCATION
Located in Pacific Park, these 4 units are nestled within walking distance to downtown Santa Ana; Artist Walk, Historic District...next to shopping centers, restaurants and plenty of entertainment. Conveniently located near schools, parks and the zoo as well. Easily accessible to the 5 & 55 FWY.
Santa Ana ZOO
Hosting more than 270,000 people annually, Santa Ana Zoo (“Sazoo”) is a public zoological garden located only 1.3 miles away (4 minute drive) from Chestnut Chateau.
The zoo primarily focuses on the animals and plants of Central and South America, with 249 animals representing 92 species, and an expansive plant collection. Species to observe include monkeys, barnyard animals, mountain lions, and exotic birds.
In addition, the Zoofari Express ride is one of its most popular attractions. The 20-acre facility also is committed to providing recreation and education, while bringing the message of conservation to the zoo’s numerous visitors. Its programs include exhibitions, teacher training, travel programs, guided tours, outreach to schools, and fundraising events.
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Check out the charm and the beauty of this wonderful building that we call 'Chestnut Chateau'! When looking to purchase a multi-family building these days, it's extremely rare to come across one as ideal as this one! Hit the 'play' button...turn up your speakers and enjoy the show!
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UNIT 1
2 Bed | 1 Bath | 1,000 SqFt
UNIT 2
3 Bed | 1 Bath | 1,000 SqFt
UNIT 3
2 Bed | 1 Bath | 1,000 SqFt
UNIT 4
2 Bed | 1 Bath | 1,000 SqFt
Gross Scheduled Income
$91,200
Net Operating Income
$64,047
Annual Operating Expenses
$27,153
Operating Expense Ratio
29.77%
METRICS to Consider
Chestnut Chateau - FINANCIAL ANALYSIS
Assuming that the investor puts 40% down and uses leverage at 2.75% on a 30 year fixed rate; the monthly cash flow generated after all expenses will be $1,786 on a proforma basis.
All of the numbers referenced above are on a proforma basis. The rent roll figures are only 6.29% off of actual numbers.
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Buyer INCENTIVE
Seller will provide $5,000 BONUS to buyer towards closing costs if offer is received and accepted by seller BEFORE TIME RUNS OUT below!
If you're interested in receiving an Offering Memorandum on this investment property, or if you have any other questions, provide us with your info below and an Advisor will get back to you right away! The market has shifted to favor serious buyers out there! Be sure you have the right agent representing you that understands the dynamics in the marketplace and has the experience and proper skill set to guide you with negotiations and successfully closing escrow.
Get Pre-Approved for Financing
James McKibban, Loan Officer
With many years of experience in the mortgage banking industry, and extensive practice in originating home loans for both purchase and refinance, James is a firm believer in excellent customer service and offering the most competitive pricing. When working with James and New American Funding you'll receive:
- Professional advice and support in making your home financing decisions
- A full spectrum of loan products from which to choose from
- Consistent communication and follow up throughout the loan process from James and New American Funding's in-house operations team
- Industry leading close times
OPPORTUNITIES?
Opportunities AREN'T MISSED!
They're just being taken BY THE NEXT GUY!
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Navigating this market requires working with a SEASONED PRO!
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Meet Our TEAM
Advisors & Assistants
Ramzi Ataya
global advisor
Ramzi continues to be the trusted source for real estate to investors, homeowners and prospective home buyers. Ramzi is valued for his highly analytic approach to all aspects facing challenges and assisting his clients during their real estate transaction.
Debbie Williams
Transaction Coordinator
Debbie has a great passion for real estate and has been immersed in the industry for over 15 years. Debbie is a team manager; where she's involved in the day to day responsibilities of working with buyers and sellers and the escrow process altogether.
James McKibban
Loan Officer
With many years of experience in the mortgage banking industry, and extensive practice in originating home loans for both purchase and refinance, James is a firm believer in excellent customer service and offering the most competitive pricing.
Mark Kelaidis
Managing Broker
Mark has been managing, coaching and training real estate agents and managers for nearly two decades. He's responsible for new business development, recruiting, growth and profitability; specializing in the turn around of under performing offices to profitability.
Are you ready to MEET RAMZI?
If you're thinking about SELLING or BUYING anytime soon, you'll first want to sit down with a seasoned pro. The market has shifted; so working with a qualified agent matters now more than ever. Please provide your contact information and select a date and time to schedule an appointment with Ramzi or one of his Team Advisors. If you’d like an Offering Memorandum (OM) on a particular property, kindly include the property address below.
Our Property Shop
As Advisors with Engel & Völkers, we're proud to tell you that we have a unique and different approach to working with our esteemed clientele. We are a real estate company that specializes in dealing with discerning individuals, just like you. We offer a red-carpet, white-glove approach to servicing our clients...all in a boutique-style environment.
