116 S Orange, Santa Ana, CA 92701
- $3,675,000
- List Price
- $3,675,000
- Price Change
- ▼ $175,000 1781741501
- Status
- ACTIVE
- MLS#
- PW26035733
- Year Built
- 1953
- Lot Size
- 15,001
- Acres
- 0.34
- Days on Market
- 160
- Property Type
- Multifamily
- Property Sub Type
- Apartment
- Neighborhood
- Other
Property 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.
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Additional Information
- Pool Description
- None
- Garage Spaces Total
- 9
- Sewer
- Public Sewer
- Water
- Public
- Attached Structure
- Detached
- Number Of Units Total
- 18
- Gross Scheduled Income
- $361,587
- Operating Expense
- 136850
Listing courtesy of Listing Agent: Rick Applebaum (rma@morganskenderian.com) from Listing Office: Morgan Skenderian.
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Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.