Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire Riverine Apartments, a 30-unit multifamily investment property located at 1001 Riverine Avenue, Santa Ana, CA.
Built in 1982, Riverine Apartments consists of spacious studio units and offers amenities including on-site laundry, controlled access, security doors, private balconies, and gated covered parking. 16 units have recently undergone renovations including new flooring, cabinets, paint, quartz countertops, fixtures, and appliance packages.
The property is within walking distance to Downtown Santa Ana and is in close proximity to the Interstate 5 and State Route 22 interchange, as well as Santa Ana Regional Transportation Center (SARTC) providing residents with easy access to nearby employment hubs.
Named the county seat in 1889, Santa Ana is also known as the financial and governmental center of Orange County. It’s been in recent competition with its fast growing neighbor, the city of Irvine in regards to commercial growth. As the city’s commercial wealth grows, average household income growth is also projected to rise by 15.42 percent to $89,467 by 2023.
Given the strong market dynamics and unique appeal of the subject property, Riverine Apartments is well suited to provide investors with strong returns.