802-804 1/2 N. Spurgeon S - Apartments FOR SALE


Santa Ana, CA 92701- Historic French Park
$1,950,000 USD
562-269-4844
802-804 1/2 N. Spurgeon S, Santa Ana, CA for Sale
$1,950,000 USD
Apartments - FOR SALE
1/10
null | 5.07% Cap Rate

802-804 1/2 N. Spurgeon S
Santa Ana, CA 92701
Historic French Park


HIGHLIGHTS

  • 6 charming units in Historic French Park
  • Large 9,288 square foot lot
  • Solid in-place income and significant upside
  • Walking distance to 4th Street & Downtown Santa Ana
  • Most rapidly gentrifying neighborhood in Santa Ana

OVERVIEW

An excellent opportunity to acquire a 6-unit multifamily building in Santa Ana. Located at 802 N Spurgeon St, this multifamily asset was built in 1937. It offers (4) 2 bed + 1 bath units and (2) 1 bed + 1 bath units that also have additional dining rooms. Residents of the property enjoy use of an off-street parking a lot, as well as three garages for additional storage. The buildings boast a total of 5,042 gross rentable square feet on a large 9,288 square foot corner lot. Tenants enjoy the ability to quickly walk to food halls, bars, restaurants and stores in the Downtown area. Buyers will notice a number of similar sized apartment buildings in the neighborhood that have been beautifully renovated to include luxury finishes and cater to a high-end tenant demographic. These neighboring properties serve as an excellent proof of concept for what can be done with this property and the achievable market rental income.

FOR SALE DETAILS

PRICE

$1,950,000 USD

PRICE/SF

$387 USD /SF

# OF UNITS

6

PRICE/UNIT

$325,000

CAP RATE

5.07%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1937

PARKING SPACES

7

LAND DETAILS

LAND ACRES

0.21 AC

LAND SF

9,288 SF

ZONING

SD19

APN/PARCEL ID

398-016-05

ASK ABOUT THIS PROPERTY

Michael AlperCentennial AdvisersMore Info
562-269-4844

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

Michael AlperCentennial AdvisersMore Info
562-269-4844

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.