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Listed by Rick Applebaum, DRE #01273871 • Morgan Skenderian
$ 3,675,000
Est. payment /mo
Active
116 S Orange Santa Ana, CA 92701
0.34 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRPW26035733
Year Built 1953
Lot Size 0.344 Acres
Source California Regional MLS
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.
Location
State CA
County Orange
Area 69 - Santa Ana South Of First
Interior
Laundry Community Facility
Exterior
Garage Spaces 9.0
Pool None
Building
Water District - Public
Others
Tax ID 39851406
Special Listing Condition Not Applicable
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