Pleased to present 709 East Chestnut Avenue, an immaculate turn-key 12-unit apartment building. Built in 1983 and nestled in the heart of Santa Ana, just minutes away from the Historical Downtown District, this property stands as one of the most attractive multifamily investments in the entire county, boasting a compelling 6.2% Capitalization Rate (CAP rate) on current rental income. A rare opportunity to take advantage of positive leverage, allowing the investor to place a smaller down payment and increase the cash-on-cash return. 709 Chestnut 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-the-art exterior lighting, adding to the overall appeal. A noteworthy aspect of the Chestnut Apartments is the Planning Department Approval secured by the current ownership for the addition of three Accessory Dwelling Units (ADUs). With building approval expected imminently, the new owner stands to benefit from the construction of three additional units, translating to a projected 28.5% increase in gross income.
Property Details
Property Features
Property Information:
Year Built: 1983
Stories: 2
Listing Office:
Office Name: Morgan Skenderian
Office Email: rma@morganskenderian.com
Listing Agent: Rick Applebaum
Interior Features
Interior Information:
Appliances: Dryer, Washer
Fireplace: None
Exterior Features
Exterior Information:
Private Pool: No
Parking Information:
Parking: Controlled Entrance
Lot Features
Lot Information:
Lot Size: 0.16 Acres
School Info
Assigned Schools Information:
Century High School, Public District Grades 9-12
Hector G. Godinez, Public District Grades 9-12
Raymond A. Villa Fundamental Intermediate School, Public District Grades 6-8
Sierra Preparatory Academy, Public District Grades 6-8
Gonzalo Felicitas Mendez Fundamental Intermediate School, Public District Grades 5-8
Theodore Roosevelt Elementary School, Public District Grades KG-5
John Muir Fundamental Elementary School, Public District Grades KG-5
Jim Thorpe Fundamental, Public District Grades KG-5
Other
Directions Information:
Directions: South of 1st Street and East of Main Street
Price Information
Listing Price Info
Price Summary:
List Price: $3,480,000
Tax Information:
Annual Amount: $22,868
Tax Year: 2021
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Housing Market Comparison
See how this home compares to others in Santa Ana, CA.
This property is $2.6M 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: #PW24022552
Listing Office:
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: 5/1/2024, 10:25:19 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
Mar 23, 2018
Mar 23, 2018Home Sold
$1,700,000
Sep 01, 2015
Sep 01, 2015Home Sold
$1,380,000
Nov 10, 2000
Nov 10, 2000Home Sold
$525,000
Tax History
YEAR
PROP. TAX
ASSESSMENT
2021
$22,868
$1,787,003
2020
$22,895
$1,768,680
2019
$18,732
$1,734,000
2018
$18,733
$1,435,752
2017
$18,569
$1,407,600
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.
Elementary School
4
/10
Theodore Roosevelt Elementary School
501 S Halladay St
Distance between this listing and this school0.10 miles
Public District Grades KG-5
8
/10
John Muir Fundamental Elementary School
1951 Mabury St
Distance between this listing and this school1.68 miles
Public District Grades KG-5
5
/10
Jim Thorpe Fundamental
2450 W Alton Ave
Distance between this listing and this school3.73 miles
Public District Grades KG-5
Middle School
3
/10
Raymond A. Villa Fundamental Intermediate School
1441 E Chestnut Ave
Distance between this listing and this school0.56 miles
Public District Grades 6-8
2
/10
Sierra Preparatory Academy
2021 N Grand Ave
Distance between this listing and this school1.46 miles
Public District Grades 6-8
6
/10
Gonzalo Felicitas Mendez Fundamental Intermediate School
2000 N Bristol St
Distance between this listing and this school2.10 miles
Public District Grades 5-8
High School
2
/10
Century High School
1401 S Grand Ave
Distance between this listing and this school1.14 miles
Public District Grades 9-12
7
/10
Hector G. Godinez
3002 W Centennial Rd
Distance between this listing and this school3.24 miles
Public District Grades 9-12
Assigned Schools
4
/10
Theodore Roosevelt Elementary School
501 S Halladay St
Distance between this listing and this school0.10 miles
Public District Grades KG-5
8
/10
John Muir Fundamental Elementary School
1951 Mabury St
Distance between this listing and this school1.68 miles
Public District Grades KG-5
5
/10
Jim Thorpe Fundamental
2450 W Alton Ave
Distance between this listing and this school3.73 miles
Public District Grades KG-5
Assigned Schools
3
/10
Raymond A. Villa Fundamental Intermediate School
1441 E Chestnut Ave
Distance between this listing and this school0.56 miles
Public District Grades 6-8
2
/10
Sierra Preparatory Academy
2021 N Grand Ave
Distance between this listing and this school1.46 miles
Public District Grades 6-8
6
/10
Gonzalo Felicitas Mendez Fundamental Intermediate School
2000 N Bristol St
Distance between this listing and this school2.10 miles
Public District Grades 5-8
Assigned Schools
2
/10
Century High School
1401 S Grand Ave
Distance between this listing and this school1.14 miles
Public District Grades 9-12
7
/10
Hector G. Godinez
3002 W Centennial Rd
Distance between this listing and this school3.24 miles
Public District Grades 9-12
Nearby Schools
2
/10
Santa Ana High School
520 W Walnut St
Distance between this listing and this school0.90 miles
The neighbors living near this home have an average income of $56,710. Typical income of Santa Ana, CA residents is between $35k-100k annually. The most common type of family is married, with kids. Most residents in this area have high school diploma education.
All data provided by Home Junction and Claritas
Frequently Asked Questions About 709 E Chestnut Ave
What is the listing price of this property?
The listing price of 709 E Chestnut Ave property is $3,480,000.
What type of property is this?
The property 709 E Chestnut Ave is a condo located in Santa Ana, California, 92701.
Is this property for sale now?
Active Listing: 709 E Chestnut Ave is For Sale (Active/New) which means the seller is accepting offers.
What are the assigned schools for this property?
The assigned schools for 709 E Chestnut Ave are: Theodore Roosevelt Elementary School: GreatSchools Rating 4/10John Muir Fundamental Elementary School: GreatSchools Rating 8/10Jim Thorpe Fundamental: GreatSchools Rating 5/10Raymond A. Villa Fundamental Intermediate School: GreatSchools Rating 3/10Sierra Preparatory Academy: GreatSchools Rating 2/10Gonzalo Felicitas Mendez Fundamental Intermediate School: GreatSchools Rating 6/10Century High School: GreatSchools Rating 2/10Hector G. Godinez: GreatSchools Rating 7/10
What is the annual property tax for this property?
According to the records, the last property tax for 2021 is $22,868 (source: MLS/based on county public records data).
When was this property sold last time and for how much?
The last sale was on March 23, 2018 for $1,700,000. (source: MLS/tax record).
Which year was this property built?
The year of construction for 709 E Chestnut Ave is 1983.
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This home is located at 709 E Chestnut Ave in Santa Ana, CA and zip code 92701 in the Eastside neighborhood. This home, which was built in 1983, sits on a 0.16 acre lot. It has been listed on Rocket Homes since January 31, 2024 and is currently priced at $3,480,000.
Over 54 listings were sold over their listed price in April 2024 in Santa Ana, CA. In the same period over 32 listings were sold below the listed price and 24 listings were sold for the listed price. The inventory of homes for sale in Santa Ana, CA between March 2024 and April 2024 increased by 5.4%. Listings spent 23 days on the market in April 2024, and had a median list price of $821,711 during the same period.
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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