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Multifamily

Peartree Apartments

3401 S Plaza Dr, Santa Ana, CA 92704

Listing Price: $15,200,000

Cap Rate
5.14%
Number of Units
76
Price/Unit
$200,000
Price/Gross SF
$282.57
Gross SF
53,792

Investment Overview

Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire the leasehold interest in Peartree Apartments, a 76-unit multifamily investment property located in the South Coast Metro District of Santa Ana, CA. The property is subject to a long-term ground lease with approximately 44 years remaining. Built in 1978, Peartree Apartments features a desirable mix of spacious one- and two-bedroom floor plans. The property offers a competitive amenity package including controlled access, ample parking, private patios and balconies, a swimming pool, a clubhouse, an on-site laundry facility, and a gym (please contact the Listing Agent for more details). With 19 units completely renovated and achieving rental premiums, Peartree Apartments offers a new owner the unique opportunity to continue a proven value-add plan. By modernizing property amenities and continuing the in-place unit interior renovation plan, a new owner could see a substantial increase in cash flow. Peartree Apartments has a desirable South Coast Metro location, providing residents with convenient access to a plethora of shopping, dining, and entertainment options. The property is situated less than one mile from South Coast Plaza, the premier shopping destination on the West Coast. Additionally, the property is within 1.25 miles of the Interstate 405 and State Route 55 interchange, providing residents with convenient access to employment hubs throughout Orange and Los Angeles Counties. Given the property’s fantastic location and substantial upside potential, Peartree Apartments is well-suited to provide investors with strong returns over the long term investment horizon.

Investment Highlights

  • Rare 50+ Unit Investment Opportunity in the South Coast Metro District
  • Desirable Mix of Spacious One- & Two-Bedroom Floor Plans
  • Proven Value-Add Potential | Substantial Rental Upside
  • Controlled Access | Swimming Pool | On-Site Laundry | Gym | Clubhouse
  • Within Walking Distance of Major Retail Centers Including South Coast Plaza
  • Subject to a Long-Term Ground Lease with Approximately 44 Years Remaining

Exclusively Listed By

Financing By

Multifamily

Peartree Apartments

Listing Price: $15,200,000

Cap Rate
5.14%
Number of Units
76
Price/Unit
$200,000
Price/Gross SF
$282.57
Gross SF
53,792

Investment Highlights

  • Rare 50+ Unit Investment Opportunity in the South Coast Metro District
  • Desirable Mix of Spacious One- & Two-Bedroom Floor Plans
  • Proven Value-Add Potential | Substantial Rental Upside
  • Controlled Access | Swimming Pool | On-Site Laundry | Gym | Clubhouse
  • Within Walking Distance of Major Retail Centers Including South Coast Plaza
  • Subject to a Long-Term Ground Lease with Approximately 44 Years Remaining

Investment Overview

Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire the leasehold interest in Peartree Apartments, a 76-unit multifamily investment property located in the South Coast Metro District of Santa Ana, CA. The property is subject to a long-term ground lease with approximately 44 years remaining. Built in 1978, Peartree Apartments features a desirable mix of spacious one- and two-bedroom floor plans. The property offers a competitive amenity package including controlled access, ample parking, private patios and balconies, a swimming pool, a clubhouse, an on-site laundry facility, and a gym (please contact the Listing Agent for more details). With 19 units completely renovated and achieving rental premiums, Peartree Apartments offers a new owner the unique opportunity to continue a proven value-add plan. By modernizing property amenities and continuing the in-place unit interior renovation plan, a new owner could see a substantial increase in cash flow. Peartree Apartments has a desirable South Coast Metro location, providing residents with convenient access to a plethora of shopping, dining, and entertainment options. The property is situated less than one mile from South Coast Plaza, the premier shopping destination on the West Coast. Additionally, the property is within 1.25 miles of the Interstate 405 and State Route 55 interchange, providing residents with convenient access to employment hubs throughout Orange and Los Angeles Counties. Given the property’s fantastic location and substantial upside potential, Peartree Apartments is well-suited to provide investors with strong returns over the long term investment horizon.

Exclusively Listed By

Financing By

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