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$ 3,850,000
Est. payment /mo
Active Under Contract
116 S Orange Santa Ana, CA 92701
0.34 Acres Lot
UPDATED:
Key Details
Property Type Apartment
Sub Type Apartment
Listing Status Active Under Contract
Purchase Type For Sale
MLS Listing ID PW26035733
HOA Y/N No
Year Built 1953
Lot Size 0.344 Acres
Property Sub-Type Apartment
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 one bedroom 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 $213,889 per unit, the asset delivers impressive fundamentals with approximately 30% rent upside, over 11% cash flow on market rents, and projected 25%+ 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.
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.
Location
State CA
County Orange
Area 69 - Santa Ana South Of First
Interior
Fireplace No
Laundry Common Area
Exterior
Garage Spaces 9.0
Garage Description 9.0
Pool None
Community Features Biking, Curbs, Dog Park, Gutter(s), Park, Sidewalks
Total Parking Spaces 9
Private Pool No
Building
Story 2
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 39851406
Energy Description 6921.0
Acceptable Financing Cash to New Loan
Listing Terms Cash to New Loan
Special Listing Condition Standard
Listed by Rick Applebaum Morgan Skenderian rma@morganskenderian.com, DRE #01273871
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