Description
This well-maintained 18-unit apartment community presents a compelling value-add opportunity in the heart of a rapidly evolving urban core. The property features all onebedroom units and offers desirable amenities including private garages, secured access, a central landscaped courtyard, and on-site laundry, creating strong tenant appeal. Recent capital improvements include new roofs, replaced electrical panels, and full SB 721 compliance, significantly reducing near-term maintenance and risk. Offered at an exceptionally attractive $204,167 per unit, the asset delivers impressive fundamentals with approximately ±31% rent upside, over ±13% cash flow on market rents, and projected ±30% equity growth upon stabilization. Situated blocks from Downtown Santa Ana and the vibrant 4th Street Market, residents enjoy walkable access to a thriving mix of dining, entertainment, nightlife, and cultural attractions, along with proximity to major employment centers and transit, making this an ideal location for tenants seeking both convenience and lifestyle.
Details
| MLS # | PW26035733 |
|---|---|
| Listing Type | For Sale |
| Style | Condominium |
| Sub-Type | Resale |
| Status | Active |
| Year | 1953 |
| Days On Site | 200 |
| Listing Provided By | Morgan Skenderian | Rick Applebaum |
Features
| SQ Feet | 12,487 |
|---|---|
| Garage | 9 |
| Story(s) | 2 |
| Units | 18 |
| Building(s) | 1 |
| Acreage | 0.34 |
Parking
| Garage Yes / No | Yes |
|---|
Utilities
| Sewer | Public Sewer |
|---|
Location
| Community Features | Biking, Curbs, Dog Park, Gutters, Park, Sidewalks |
|---|
Area Information
| State | CA |
|---|---|
| County | Orange |
| City | Santa Ana |
| Zip Code | 92701 |
| Area | 69 Santa Ana South of First |
| Community Name | Other |
| Listing VS Median (in Other) | |
Price: $3,675,000 low | high Med: $2,170,000 sqft: 12,487 low | high Med: 4,275 $ / sqft: $294 low | high Med: $531 On site: 200 low | high Med: 189 | |
Market Activity 92701
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Learn More About This Property
| State | CA |
|---|---|
| County | Orange |
| City | Santa Ana |
| Zip Code | 92701 |
| Area | 69 Santa Ana South of First |
| Community Name | Other |
| Listing VS Median (in Other) | |
Price: $3,675,000 low | high Med: $2,170,000 sqft: 12,487 low | high Med: 4,275 $ / sqft: $294 low | high Med: $531 On site: 200 low | high Med: 189 | |