520 East Walnut Street is a 16-unit multifamily investment property located in Santa Ana, CA. Built in 1983, 520 East Walnut Street offers exclusively two-bedroom townhomes with private patios. The property features highly desirable amenities including in-unit laundry hookups, central A/C and heating, controlled pedestrian access, and a gated subterranean parking garage. Currently, there are 12 renovated or partially renovated units that feature high-quality upgrades including appliances, shaker-style cabinets, quartz countertops, plumbing fixtures, recessed lighting, and more. These improvements have allowed ownership to charge a significant rental premium over non-renovated units, with an average rent of $2,795 for the renovated units. Furthermore, current ownership has identified under-utilized community space that could further increase rental income and diversify the overall unit mix through the conversion of a storage room into an accessory dwelling unit (ADU). 520 East Walnut Street benefits from its excellent central Santa Ana location just south of Downtown Santa Ana and its bustling 4th Street, providing residents with convenient access to a plethora of retail, dining, and entertainment options. Additionally, the property is within walking distance of Downtown Plaza, granting residents easy access to everyday needs. 520 East Walnut Street is located within a 1-mile radius of all three levels of schooling, including Lowell Elementary School, Lathrop Intermediate School, and Santa Ana High School. Furthermore, the property is just over 1.50 miles from Santa Ana College, the 3rd top employer within the city per Santa Ana’s 2023 Annual Comprehensive Financial Report. Residents enjoy 520 East Walnut Street’s close proximity to Interstate 5 and State Route 55 as they connect residents to employment hubs throughout Southern California. Given the property’s high-quality unit finishes and close proximity to Santa Ana’s most popular destinations, 520 East Walnut Street is well suited to provide investors with strong returns over the long-term investment horizon.
Property Details
Property Features
Property Information:
Year Built: 1983
Stories: 2
Listing Office:
Office Name: Marcus & Millichap RE Invest
Office Email: tleeson@marcusmillichap.com
Listing Agent: Tyler Leeson
Exterior Features
Exterior Information:
Private Pool: No
Parking Information:
Garage Space: 40 spaces
Lot Features
Lot Information:
Lot Size: 0.48 Acres
Utilities
Utilities Information:
Heating: Central
Other
Directions Information:
Directions: Cross Streets of East Walnut Street & South Hickory Street
Price Information
Listing Price Info
Price Summary:
List Price: $5,875,000
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Housing Market Comparison
See how this home compares to others in Santa Ana, CA.
This property is $5.0M 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: #OC24212983
Listing Office:
Office Name: Marcus & Millichap RE Invest
Office Email: tleeson@marcusmillichap.com
Listing Agent: Tyler Leeson
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: 12/22/2024, 7:20:58 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Property Sales & Tax
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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
Edward B. Cole Academy
333 E Walnut St
Distance between this listing and this school0.15 miles
Public Charter Grades KG-5
5
/10
Roosevelt Elementary School
501 S Halladay St
Distance between this listing and this school0.26 miles
Public District Grades KG-5
3
/10
Garfield Elementary School
850 Brown St
Distance between this listing and this school0.34 miles
Public District Grades KG-5
Nearby Schools
5
/10
Orange County Educational Arts Academy
825 N Broadway
Distance between this listing and this school0.71 miles
Public Charter Grades KG-8
3
/10
Raymond A. Villa Fundamental Intermediate School
1441 E Chestnut Ave
Distance between this listing and this school0.75 miles
Public District Grades 6-8
7
/10
El Sol Santa Ana Science and Arts Academy
328 W Halesworth St
Distance between this listing and this school0.81 miles
Public Charter Grades KG-8
Nearby Schools
5
/10
Advanced Learning Academy
335 E Walnut St
Distance between this listing and this school0.13 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 school0.68 miles
Public Charter Grades 9-12
4
/10
Santa Ana High School
520 W Walnut St
Distance between this listing and this school0.70 miles
The neighbors living near this home have an average income of $57,873. Residents of Santa Ana, CA typically earn between $35k-100k each year. 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 520 E Walnut St
What is the listing price of this property?
The listing price of 520 E Walnut St property is $5,875,000.
What type of property is this?
The property 520 E Walnut St is a condo located in Santa Ana, California, 92701.
Is this property for sale now?
Active Listing: 520 E Walnut St is For Sale (Active/New) which means the seller is accepting offers.
Which year was this property built?
The year of construction for 520 E Walnut St is 1983.
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This home is located at 520 E Walnut St in Santa Ana, CA and zip code 92701 in the Eastside neighborhood. This home, which was built in 1983, sits on a 0.48 acre lot. It has been listed on Rocket Homes since October 14, 2024 and is currently priced at $5,875,000.
In November 2024, from all listings sold in Santa Ana, CA there were more than 43 sold above asking price, over 27 sold below and more than 16 were sold right at the asked price. The number of homes for sale in Santa Ana, CA decreased by 7.6% between October 2024 and November 2024. While the average time on the market in November 2024 was 32 days, the median list price was $873,444.
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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