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.
Property Details
Property Features
Property Information:
Year Built: 1964
Stories: 2
Listing Office:
Office Name: Marcus & Millichap RE Invest
Office Email: gbassirpou@marcusmillichap.com
Listing Agent: Greg Bassirpou
Exterior Features
Exterior Information:
Private Pool: No
Lot Features
Lot Information:
Lot: Landscaped, Near Public Transit
Lot Size: 1.07 Acres
Other
Directions Information:
Directions: Please do not disturb tenants. Make all offers subject to inspection.
Price Information
Listing Price Info
Price Summary:
List Price: $9,700,000
Tax Information:
Annual Amount: $51,940
Tax Year: 2021
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Housing Market Comparison
See how this home compares to others in Santa Ana, CA.
This property is $8.8M more than the Median Sold Price in Santa Ana, CA.
Based on homes sold in the last 12 months
MLS Details
MLS Information:
MLS Name: CRMLS
MLS Number: #OC24202271
Listing Office:
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: 11/21/2024, 3:20:58 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Property Sales & Tax
Listing History
DATE
EVENT
PRICE
Sep 18, 1997
Sep 18, 1997Home Sold
$1,000,001
Tax History
YEAR
PROP. TAX
ASSESSMENT
2021
$51,940
$4,024,761
2020
$51,996
$3,983,493
2019
$49,188
$3,905,386
2018
$49,189
$3,828,810
2017
$48,764
$3,753,736
History based on county public records data.
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Schools
Schools Nearby
The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.
We're sorry, we currently don't have assigned school data for this listing.
Nearby Schools
5
/10
Davis Elementary School
1405 French St
Distance between this listing and this school0.07 miles
Public District Grades KG-5
3
/10
Garfield Elementary School
850 Brown St
Distance between this listing and this school0.52 miles
Public District Grades KG-5
5
/10
Edward B. Cole Academy
333 E Walnut St
Distance between this listing and this school0.81 miles
Public Charter Grades KG-5
Nearby Schools
5
/10
Orange County Educational Arts Academy
825 N Broadway
Distance between this listing and this school0.43 miles
Public Charter Grades KG-8
7
/10
El Sol Santa Ana Science and Arts Academy
328 W Halesworth St
Distance between this listing and this school0.44 miles
Public Charter Grades KG-8
2
/10
Willard Intermediate School
1342 N Ross St
Distance between this listing and this school0.58 miles
Public District Grades 6-8
Nearby Schools
9
/10
Ocsa
1010 N Main St
Distance between this listing and this school0.33 miles
Public Charter Grades 7-12
5
/10
Advanced Learning Academy
335 E Walnut St
Distance between this listing and this school0.76 miles
Public Charter Grades 3-12
6
/10
Nova Academy Early College High School
500 W Santa Ana Blvd
Distance between this listing and this school0.83 miles
The neighbors living near this home have an average income of $55,288. Most Santa Ana, CA residents have annual incomes between $35k-100k. Residents typically live in married, with kids family. The most common level of education of people living in this area is high school diploma.
All data provided by Home Junction and Claritas
Frequently Asked Questions About 511 E Washington Ave
What is the listing price of this property?
The listing price of 511 E Washington Ave property is $9,700,000.
What type of property is this?
The property 511 E Washington Ave is a condo located in Santa Ana, California, 92701.
Is this property for sale now?
Active Listing: 511 E Washington Ave is For Sale (Active/New) which means the seller is accepting offers.
What is the annual property tax for this property?
According to the records, the last property tax for 2021 is $51,940 (source: MLS/based on county public records data).
When was this property sold last time and for how much?
The last sale was on September 18, 1997 for $1,000,001. (source: MLS/tax record).
Which year was this property built?
The year of construction for 511 E Washington Ave is 1964.
Interested in 511 E Washington Ave? Let's connect.
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This home is located at 511 E Washington Ave in Santa Ana, CA and zip code 92701 in the French Court neighborhood. This home, which was built in 1964, sits on a 1.07 acre lot. It has been listed on Rocket Homes since September 30, 2024 and is currently priced at $9,700,000.
Santa Ana, CA housing market in October 2024 saw over 50 listings sold above listed price, more than 12 sold at listed price and over 28 sold below. The number of homes for sale in Santa Ana, CA increased by 1.7% between September 2024 and October 2024. The median list price of listings available in October 2024 was $859,400, while the average time on the real estate market was 24 days.
From Rocket Homes Real Estate and based on county public records data.
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. 
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