Deal numbers

A cap rate estimate is not available for this property yet. Ask Alex for a pro forma using comparable rent data.

Property details

Type

Apartment

Bedrooms

18

Building size

12,487 sqft

Lot size

15,001 sqft

Year built

1953

Stories

2

Garage spaces

9

Pool

None

Status

Active

Days on market

238

MLS #

238670597

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.

Location

116 S Orange

Santa Ana, Orange, CA, 92701