About 409 E Pine Street
409-415 E. Pine Street is a 12-unit multifamily property located in Santa Ana, CA, offering investors an opportunity to acquire a well-located Orange County asset. Built in 1983, the property consists of two contiguous parcels totaling 8,628 square feet of rentable area situated on a 14,000 square foot lot. The community features a desirable unit mix of four 1BR/1BA units and eight 2BR/1BA units, along with amenities including on-site laundry, gated entry, individual water heaters, and patios/balconies in select units. Recent capital improvements include roof restoration, HVAC replacements, water heater replacement, and interior updates to select units. The property is offered at a 6% CAP Rate on current income with 25% rental upside, providing investors with additional growth potential through continued upgrades, turnover, and rent increases.
