About this home

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.

Facts and features

Schools

• Martin R. Heninger Elementary School

  elementary · K-8 · 0.4 mi

  3

• Century High School

  high · 9-12 · 1.4 mi

  4

• Community School of Central Orange

  elementary · K-5 · 0.1 mi

• Willard Intermediate School

  middle · 6-8 · 0.9 mi

  1

• Edward B. Cole Academy

  elementary · K-5 · 0.1 mi

  3

• Santa Ana Unified Adult Transition

  elementary · 0.4 mi

Price history

• Oct 13, 2026 · Price Changed$3,450,000
• Jun 17, 2026 · Price Changed$3,675,000
• Feb 17, 2026 · Listed$3,850,000

Tax history

• 2025$7,977 tax · $276,933 assessed
• 2024$7,733 tax · $271,503 assessed
• 2023$7,496 tax · $260,961 assessed
• 2022$7,330 tax · $255,845 assessed
• 2021$7,205 tax · $250,829 assessed
• 2020$7,163 tax · $248,258 assessed
• 2019$7,104 tax · $243,391 assessed
• 2018$6,941 tax · $238,619 assessed

Where it is