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$1,350,000

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223 S Orange Santa Ana, CA 92701

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Andre Hobbs

ashobbs44@gmail.com +1(619) 349-5151

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Key Details

Property Type Apartment

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

MLS Listing ID OC25265433

HOA Y/N No

Year Built 1963

Property Sub-Type Apartment

Property Description

Presenting 223 South Orange Avenue, a high-cash-flow five-unit multifamily investment property located in the desirable Pacific Park neighborhood of Santa Ana, California. The property features a spacious Victorian front house configured as a five-bedroom, five-bath unit, complemented by a rear four-plex offering efficient studio floorplans designed to maximize rental income and promote long-term occupancy stability. Residents enjoy desirable amenities including an on-site laundry facility, a shared central courtyard, four individual garage parking spaces, and security screen doors. The property has been professionally managed throughout ownership, ensuring consistent performance and reliable cash flow. A Ratio Utility Billing System (RUBS) is in place, effectively reducing ownership expenses and improving operating efficiency. Recent capital improvements include upgraded electrical panel on the front house. While the property provides strong in-place income, additional interior and exterior renovations present a clear opportunity to further enhance value, elevate curb appeal, and achieve higher market rents. The garages offer an additional value-add opportunity in which buyers may rent them out for supplemental income or explore converting them into an ADU to further maximize returns (buyer to verify all ADU feasibility with the City of Santa Ana). The asset currently generates $129,775 in gross annual income ($10,815 per month), reflecting a strong 10.40 Gross Income Multiplier (GIM) with meaningful upside through strategic improvements and rent repositioning. Ideally located less than half a mile from Downtown Santa Ana and 4th Street Market, the property offers exceptional connectivity to employment, education, and entertainment corridors. Santa Ana College, MainPlace Mall, and the new OC Streetcar line are all just minutes away, providing residents with convenient transit options and everyday amenities. Proximity to the I-5 and CA-22 freeways further enhances access to major job centers throughout Orange and Los Angeles Counties. Combining stable in-place income, low operating costs, and a prime central location, 223 South Orange Avenue presents investors with a compelling opportunity to acquire a turnkey multifamily asset offering reliable cash flow today and substantial long-term growth potential.

Location

State CA

County Orange

Area 699 - Not Defined

Interior

Fireplace No

Laundry Common Area

Exterior

Garage Spaces 4.0

Garage Description 4.0

Pool None

Community Features Curbs, Storm Drain(s), Street Lights, Sidewalks

Total Parking Spaces 4

Private Pool No

Building

Lot Description 2-5 Units/Acre, Corner Lot

Story 2

Entry Level Two

Sewer Public Sewer

Water Public

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 40409307

Energy Description 2420.0

Acceptable Financing Cash, Cash to New Loan, 1031 Exchange

Listing Terms Cash, Cash to New Loan, 1031 Exchange

Special Listing Condition Standard

Listed by Justin Butler Kirklen Investment Group 949-202-7255

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Andre Hobbs

San Diego Broker | The Hobbs Valor Group | License ID: 01485241

+1(619) 349-5151

223 S Orange Santa Ana, CA 92701

Andre Hobbs

Key Details

Location

Interior

Exterior

Building

Others

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223 S Orange