120 E Pine Street, Santa Ana, California 92701, Santa Ana, - bed, bath
ACTIVE$3,850,000
120 E Pine Street, Santa Ana, California 92701
0Bed
0Bath
7,350Sqft
13,068Lot
Year Built
1971
Close
-
List price
$3.85M
Original List price
$3.85M
Price/Sqft
-
HOA
-
Days on market
-
Sold On
-
MLS number
OC25176484
Home ConditionGood
Features
Patio
View-
About this home
We are pleased to present the Pine Apartments consisting of 14 Units (with patios & balconies) in a high demand rental area of Santa Ana. This property is individually metered for Electric (tenants responsibility) and has NO GAS. The roof is approximately 10 years old with ample parking - plenty of carports and street parking available. Property has an on-site laundry room that is owned and has copper plumbing. Majority of the units have been upgraded. NEW IN 2025: Stucco, Paint, Windows, and Landscaping! This is a great investment opportunity for the passive investor who wants a turnkey, pride of ownership property with great cash flow! Agents/Broker of Record takes no responsibility for the accuracy of this information. All information is deemed to be reliable, however, buyer to verify all information & to conduct their own due diligence.
Nearby schools
4/10
Theodore Roosevelt Elementary School
Public,•K-5•0.4mi
3/10
Martin R. Heninger Elementary School
Public,•K-8•0.3mi
2/10
Julia C. Lathrop Intermediate School
Public,•6-8•0.7mi
3/10
Raymond A. Villa Fundamental Intermediate School
Public,•6-8•1.0mi
2/10
Willard Intermediate School
Public,•5-8•1.0mi
3/10
Century High School
Public,•9-12•1.3mi
Price History
Date
Event
Price
08/05/25
$3,850,000
Condition Rating
Good
Despite being built in 1971, the property benefits from significant recent capital improvements. The description explicitly states 'NEW IN 2025: Stucco, Paint, Windows, and Landscaping!', and the listing date in 2025 suggests these exterior renovations are either just completed or imminent, making the building's facade appear modern and well-maintained in the images. The roof is also relatively new at approximately 10 years old, and the presence of copper plumbing indicates further upgrades. While interior unit images are not provided, the listing claims 'Majority of the units have been upgraded.' The common areas and on-site laundry room appear functional and well-kept, though not ultra-modern. The cooling system appears to be individual window AC units, which is common for multi-unit properties of this age. Overall, the property is move-in ready with no immediate major renovations required, aligning with a 'Good' condition score due to substantial recent updates to key components.
Pros & Cons
Pros
Strong Investment Opportunity: Positioned as a 'turnkey, pride of ownership property with great cash flow,' making it highly attractive for passive investors seeking a stable income-generating asset.
Significant Upcoming Capital Improvements: Scheduled renovations in 2025 including new stucco, paint, windows, and landscaping will enhance curb appeal, reduce future maintenance costs, and potentially increase rental value.
Reduced Owner Operating Costs: Individually metered for electric (tenant responsibility) and having no gas service significantly minimizes utility expenses for the property owner.
Key Infrastructure & Unit Upgrades: Features copper plumbing, a relatively new roof (approx. 10 years old), and a 'majority of units have been upgraded,' indicating proactive maintenance and modernization.
Desirable Tenant Amenities: The property includes an on-site owned laundry room and ample parking (carports and street parking), which are strong draws for tenants and can contribute to higher occupancy rates.
Cons
Lack of Detailed Financials: The listing mentions 'great cash flow' but does not provide specific income/expense statements, current rents, or a cap rate, requiring extensive due diligence from potential buyers.
Age of Property & Vague Upgrade Details: Built in 1971, the property is over 50 years old. While 'majority of units have been upgraded,' the extent and quality of these upgrades are not specified, which could lead to unexpected renovation or maintenance needs.
No Gas Service: While a cost-saving for the owner, the complete absence of gas service might be a drawback for some tenants who prefer gas appliances (e.g., cooking, heating), potentially limiting the tenant pool.