The Chestnut Apartments is a turnkey, 12-unit apartment building located in the heart of Santa Ana. Built in 1983 and just minutes away from the historic Downtown District, this property represents one of the most attractive multifamily investment opportunities in the county. It boasts a compelling 6.2% CAP Rate based on current rental income. Further enhancing the investment potential, buyers have the option to assume the existing financing, which requires only a 30% down payment and features a below-market fixed interest rate that remains in effect through November 2029. This advantageous financing presents a rare opportunity to take advantage of positive leverage, dramatically increasing the cash-on-cash return.
The Chestnut Apartments 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-theart exterior lighting, adding to the overall appeal.
Previously, ownership had received full approval for the addition of three Accessory Dwelling Units (ADUs). These ADU’s, once constructed, add a projected 29.7% increase in gross income.
The Chestnut Apartments 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-theart exterior lighting, adding to the overall appeal.
Previously, ownership had received full approval for the addition of three Accessory Dwelling Units (ADUs). These ADU’s, once constructed, add a projected 29.7% increase in gross income.
Property Details
Price:
$3,550,000
MLS #:
PW25111635
Status:
Active
Baths:
0
Address:
709 E Chestnut Avenue
Type:
Residential Income
Subtype:
Apartment
Neighborhood:
69santaanasouthoffirst
City:
Santa Ana
Listed Date:
Apr 21, 2025
State:
CA
ZIP:
92701
Lot Size:
6,848 sqft / 0.16 acres (approx)
Year Built:
1983
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Schools
Interior
Exterior
Community Features
Biking, Curbs, Park, Sidewalks, Street Lights
Garage Spaces
12.00
Lot Features
Lot 6500-9999
Parking Spots
12.00
Pool Features
None
Sewer
Public Sewer
Stories Total
3
Water Source
Public
Financial
Association Fee
0.00
Map
Community
- Address709 E Chestnut Avenue Santa Ana CA
- Area69 – Santa Ana South of First
- CitySanta Ana
- CountyOrange
- Zip Code92701
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709 E Chestnut Avenue
Santa Ana, CA
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