Broadway Apartments

Santa Ana (Spanish for “Saint Anne”) is the county seat and second most populous city in Orange County, California in the Los Angeles metropolitan area. The United States Census Bureau estimated its 2011 population at 329,427, making Santa Ana the 57th most-populous city in the United States. Santa Ana is in Southern California, adjacent to the Santa Ana River, about 10 miles (16 km) from the coast. Founded in 1869, the city is part of the Greater Los Angeles Area, the second largest metropolitan area in the United States, with almost 18 million residents in 2010. Santa Ana is a very densely populated city, ranking fourth nationally in that regard among cities of over 300,000 residents (trailing only New York City, San Francisco, and Boston). In 2011, Forbes ranked Santa Ana the fourth-safest city of over 250,000 residents in the United States. Currently the city of Santa Ana has over 35 projects in process (see to the right). The projects are anticipated to improve infrastructure and promote growth within the city. Major projects have included the introduction of new transportation opportunities, land use revisions, and increased housing. The General Use plan of the city is an ongoing project that is supported by the community and city government.The Broadway Apartments presents a new investor the opportunity to capitalize on a stabilized asset that is insulated from the effects of rent control due to the fact that the current owner has stayed up-to-date with market rate rents. The building is individually metered for Gas and Electricity, it does not have a house meter for either. This keeps the expenses low and minimizes surprises for a new owner. The Broadway Apartments has a seasoned tenant roster with the oldest tenant dating back to 2007 and tenants enjoy the buildings nicely maintained grounds. The buildings have newer dual-pane vinyl windows, pitched roofs, and ample parking with four garage spaces and two open spaces.