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2318 Franzen Ave 4 Unit Apartment Building $1,499,000 ($374,750/Unit) 5.13% Cap Rate Santa Ana, CA 92705
Investment Highlights
- Exterior Recently Repainted
- Additional income from laundry facilities
- 4 Unit Apartment Building
- All units with private patios/decks
- Separately Metered for Gas & Electric
- New Vinyl Windows
Executive Summary
Great opportunity to own a well-maintained 4-plex. The property consists of 1 3-bedroom 2 bath unit, 2 2-bedroom 2 bath units and a spacious 1-bedroom 1 bath unit. The 3-bedroom unit was vacated late last year, and the seller used the opportunity to fully refresh the space with a new kitchen, updated bathrooms, mirrored wardrobe closets, a new sliding door, and new flooring throughout thus positioning a new owner to maximize the unit’s rental potential. Other recent improvements include new dual pane vinyl windows throughout and the recently painted exterior. PLEASE DO NOT DISTURB TENANTS. UNITS TO BE TOURED WITH ACCEPTED OFFER.
Property Facts
| Price | $1,499,000 | Apartment Style | Low-Rise |
| Price Per Unit | $374,750 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Cap Rate | 5.13% | Building Size | 4,181 SF |
| Gross Rent Multiplier | 13.25 | Average Occupancy | 100% |
| No. Units | 4 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1969/2026 |
| Property Subtype | Apartment | Parking Ratio | 1.67/1,000 SF |
| Zoning | R4 - Suburban Apartment | ||
| Price | $1,499,000 |
| Price Per Unit | $374,750 |
| Sale Type | Investment |
| Cap Rate | 5.13% |
| Gross Rent Multiplier | 13.25 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 4,181 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1969/2026 |
| Parking Ratio | 1.67/1,000 SF |
| Zoning | R4 - Suburban Apartment |
Amenities
Unit Amenities
- Cable Ready
- Dishwasher
- Kitchen
- Oven
- Range
- Tub/Shower
- Patio
Site Amenities
- Public Transportation
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+2 | 1 | $3,450 | - |
| 2+2 | 2 | $2,030 | - |
| 1+1 | 1 | $1,754 | - |
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Fairly walkable
50/100
Exceptionally drivable
100/100
Limited public transit
20/100
Property Taxes
| Parcel Number | 396-131-39 | Improvements Assessment | $177,165 |
| Land Assessment | $1,547,298 | Total Assessment | $1,724,463 |
Property Taxes
Parcel Number
396-131-39
Land Assessment
$1,547,298
Improvements Assessment
$177,165
Total Assessment
$1,724,463
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Contact the Sale Advisor
2318 Franzen Ave