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Multifamily

Park City View Luxury Apartments

510 Mortimer St, Santa Ana, CA 92701

Listing Price: $15,950,000

Cap Rate
5.30%
Number of Units
58
GRM
12.23
Price/Unit
$275,000
Price/Gross SF
$460.86
Gross SF
34,609

Investment Overview

Marcus & Millichap, as the exclusive listing agent, is pleased to present Park City View Luxury Apartments, a 58-unit multifamily investment opportunity located in Santa Ana, CA.

With a prime Downtown Santa Ana location, residents of Park City View Luxury Apartments are at the epicenter of all that Santa Ana has to offer. The property is conveniently located within walking distance to the abundance of retail, dining, and entertainment options along East 4th Street. In recent years, Downtown Santa Ana has seen a revitalization which is exemplified by Park City View Luxury Apartments’ location within a 0.50-mile radius of several major nearby developments. Additionally, the property is just over 1.25 miles from Santa Ana College, the 3rd top employer within the city, per Santa Ana’s 2022 Annual Comprehensive Financial Report. Furthermore, residents enjoy the property’s close proximity to Interstate 5, connecting residents to major employment hubs throughout Orange and Los Angeles Counties.

Situated on a 0.50-acre lot, Park City View Luxury Apartments offers a diverse mix of studio, one, and two-bedroom floor plans. The property features highly-desirable amenities including a secure gated parking garage, gated pedestrian access, on-site laundry facilities, and private patios or balconies. Currently, select units have undergone significant renovations, including vinyl flooring, shaker-style cabinetry, quartz countertops, and more, all of which have allowed current ownership to achieve a rental premium over non-renovated units. There is a clear and proven opportunity for new ownership to further increase the income stream through the continuation of the in-place renovation plan by upgrading all units to high-end specifications.

With an attractive unit mix, encompassing amenity package, and prime Santa Ana location, Park City View Luxury Apartments represents an enticing opportunity for a new owner.

Investment Highlights

  • Diverse Mix of Studio, One, & Two-Bedroom Floor Plans
  • Interior Upgrades Include Vinyl Flooring, Shaker-Style Cabinetry, & Quartz Countertops
  • Units Feature Highly-Desirable Private Patios or Balconies
  • Gated Pedestrian Access | Two-Story Gated Parking Structure
  • A Spacious On-Site Laundry Facility on Each Floor
  • Attractive Downtown Santa Ana Location
  • Located Next to Several Major Nearby Developments
  • Close to an Abundance of Retail, Dining, & Entertainment Options Along East 4th Street

Exclusively Listed By

Financing By

Multifamily

Park City View Luxury Apartments

Listing Price: $15,950,000

Cap Rate
5.30%
Number of Units
58
GRM
12.23
Price/Unit
$275,000
Price/Gross SF
$460.86
Gross SF
34,609

Investment Highlights

  • Diverse Mix of Studio, One, & Two-Bedroom Floor Plans
  • Interior Upgrades Include Vinyl Flooring, Shaker-Style Cabinetry, & Quartz Countertops
  • Units Feature Highly-Desirable Private Patios or Balconies
  • Gated Pedestrian Access | Two-Story Gated Parking Structure
  • A Spacious On-Site Laundry Facility on Each Floor
  • Attractive Downtown Santa Ana Location
  • Located Next to Several Major Nearby Developments
  • Close to an Abundance of Retail, Dining, & Entertainment Options Along East 4th Street

Investment Overview

Marcus & Millichap, as the exclusive listing agent, is pleased to present Park City View Luxury Apartments, a 58-unit multifamily investment opportunity located in Santa Ana, CA. With a prime Downtown Santa Ana location, residents of Park City View Luxury Apartments are at the epicenter of all that Santa Ana has to offer. The property is conveniently located within walking distance to the abundance of retail, dining, and entertainment options along East 4th Street. In recent years, Downtown Santa Ana has seen a revitalization which is exemplified by Park City View Luxury Apartments’ location within a 0.50-mile radius of several major nearby developments. Additionally, the property is just over 1.25 miles from Santa Ana College, the 3rd top employer within the city, per Santa Ana’s 2022 Annual Comprehensive Financial Report. Furthermore, residents enjoy the property’s close proximity to Interstate 5, connecting residents to major employment hubs throughout Orange and Los Angeles Counties. Situated on a 0.50-acre lot, Park City View Luxury Apartments offers a diverse mix of studio, one, and two-bedroom floor plans. The property features highly-desirable amenities including a secure gated parking garage, gated pedestrian access, on-site laundry facilities, and private patios or balconies. Currently, select units have undergone significant renovations, including vinyl flooring, shaker-style cabinetry, quartz countertops, and more, all of which have allowed current ownership to achieve a rental premium over non-renovated units. There is a clear and proven opportunity for new ownership to further increase the income stream through the continuation of the in-place renovation plan by upgrading all units to high-end specifications. With an attractive unit mix, encompassing amenity package, and prime Santa Ana location, Park City View Luxury Apartments represents an enticing opportunity for a new owner.

Exclusively Listed By

Financing By

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