About this property
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 $191,667 per unit, the asset delivers impressive fundamentals with approximately 25% rent upside, approximately 15% cash flow on market rents, and projected 38% 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.
Listed by Rick Applebaum · Morgan Skenderian
Estimate your monthly payment
$690,000 down
Estimated monthly payment
$20,758
$17,445
Principal & interest
$3,163
Property tax
$150
Insurance
$2,760,000
Loan amount
Estimates only, for planning purposes — not a loan offer or commitment. Actual rates, taxes, and insurance vary. Consult a licensed lender.
Listing data is provided courtesy of the participating MLS. Information deemed reliable but not guaranteed. This information is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.