410–412 E 4th Street offers an exceptionally well-maintained opportunity in the heart of Downtown Santa Ana, with minimal near-term capital needs driven by extensive recent improvements. The entire second floor was fully renovated in 2020, including replacement of the rear doors. In 2021, the roof was professionally coated with a tropical coating system and includes a 25-year warranty. Major infrastructure work was also completed, including the replacement of over 130 feet of cast iron piping from the second floor down to the basement and out to the alley. Between 2021 and 2023, the property received numerous plumbing and electrical upgrades, and in 2021, all six rooftop HVAC units were replaced. Additional enhancements—such as security cameras and other operational upgrades—have been implemented over the past five years, making this a strong option for investors seeking a Downtown Santa Ana asset with meaningful recent capex already completed.