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313-317 S Broadway 5 Unit Apartment Building $1,339,000 ($267,800/Unit) 5.31% Cap Rate Santa Ana, CA 92701
INVESTMENT HIGHLIGHTS
- ADU Potential Via Conversion of Large, On-Site Storage Space
- Four (4) Garage Parking Spaces
- Separately Metered for Gas & Electric
- Walking Distance to Historic Downtown on 4th Street
- Central HVAC Systems
EXECUTIVE SUMMARY
The subject property features an extremely desirable unit mix of three, 2-bedroom and two, 1-bedroom units. Situated on a 6,100 square foot lot, the property offers 4 single car garage spaces, a large storage unit for additional income, private balconies for the upstairs units, mini split AC systems and is separately metered for gas and electric. Additionally, the large storage unit can be converted to an ADU and already has utility lines running to this space to make for an easier conversion.
The South Broadway Apartments are extremely well located in the strong Santa Ana rental market and just minutes off the 5 and 55 Freeway. The proximity to the freeways will allow tenants to access the greater Orange County and Los Angeles areas quickly and easily. The property is within walking distance of Downtown Santa Ana, which offers residents a variety of shopping, dining, entertainment and occupational opportunities. Additionally, the South Broadway Apartments is conveniently located near many educational institutions such as Santa Ana High School and Lowell Elementary School.
The South Broadway Apartments are extremely well located in the strong Santa Ana rental market and just minutes off the 5 and 55 Freeway. The proximity to the freeways will allow tenants to access the greater Orange County and Los Angeles areas quickly and easily. The property is within walking distance of Downtown Santa Ana, which offers residents a variety of shopping, dining, entertainment and occupational opportunities. Additionally, the South Broadway Apartments is conveniently located near many educational institutions such as Santa Ana High School and Lowell Elementary School.
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PROPERTY FACTS
| Price | $1,339,000 | Property Subtype | Apartment |
| Price Per Unit | $267,800 | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 5.31% | Lot Size | 0.14 AC |
| Sale Condition | 1031 Exchange | Building Size | 2,976 SF |
| Gross Rent Multiplier | 12.79 | No. Stories | 2 |
| No. Units | 5 | Year Built | 1955 |
| Property Type | Multifamily | Parking Ratio | 1.34/1,000 SF |
| Zoning | R3, Santa Ana | ||
| Price | $1,339,000 |
| Price Per Unit | $267,800 |
| Sale Type | Investment |
| Cap Rate | 5.31% |
| Sale Condition | 1031 Exchange |
| Gross Rent Multiplier | 12.79 |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 2,976 SF |
| No. Stories | 2 |
| Year Built | 1955 |
| Parking Ratio | 1.34/1,000 SF |
| Zoning | R3, Santa Ana |
AMENITIES
UNIT AMENITIES
- Balcony
SITE AMENITIES
- Storage Space
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 2 | - | 550 |
| 2+1 | 3 | - | 650 |
1 1
Walk Score®
Walker's Paradise (94)
PROPERTY TAXES
| Parcel Number | 398-287-04 | Improvements Assessment | $134,840 |
| Land Assessment | $766,164 | Total Assessment | $901,004 |
PROPERTY TAXES
Parcel Number
398-287-04
Land Assessment
$766,164
Improvements Assessment
$134,840
Total Assessment
$901,004
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313-317 S Broadway
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