1724 N Spurgeon Street, Santa Ana, CA 92706

Property Description

1724 North Spurgeon Street is a 5-unit multifamily investment property located in Santa Ana, California. The property has a market CAP rate of 7.43% and a market GIM of 14.52 on market rents. The property offers a diverse mix of 3, one-bedroom, 1, two-bedroom, and 1, three-bedroom units with security doors, shared yards, and security doors. 1724 North Spurgeon Street is situated in an optimal Santa Ana location, just north of Historic French Park and Downtown Santa Ana. The property is in close proximity to Santa Ana’s top attractions including the Discovery Cube, 4th Street Market, and the Bowers Museum. Additionally, 1724 North Spurgeon Street is located within 1 mile of MainPlace Mall, a shopping mall that is currently being renovated to include additional residential, commercial, and hotel space. Furthermore, 1724 North Spurgeon Street is 1.20 miles from Santa Ana College, the 3rd top employer in the city with more than 3,500 employees per Santa Ana’s 2023 Annual Comprehensive Financial Report. The property’s close proximity to Interstate 5 provides residents with easy access to major employment hubs throughout Orange and Los Angeles Counties. Given its optimal Santa Ana location, the property offers an investor the ability to capture quality tenants seeking a convenient location with access to a wide variety of area amenities. This overall demand for well-located apartments will be a key driver in the continued growth at 1724 North Spurgeon Street.