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431 S Susan St - Susan Street Apartments 9 Unit Apartment Building Offered at $3,300,000 at a 4.78% Cap Rate Santa Ana, CA 92704
INVESTMENT HIGHLIGHTS
- Single Story Units with a Great Unit Mix
- Over a 7% CAP on market
- Large 28,000 Sqft+ lot
EXECUTIVE SUMMARY
Susan Street apartments boasts an amazing single story unit mix of 3-bedroom & 4 bedroom units. An attractive configuration that drives strong tenant demand and long-term stability. Situated on a large ±28,000 square foot lot, the property is predominantly single-story, with select units located above garages. The units come with dedicated garage parking, a highly sought-after amenity that supports tenant retention and rental premiums. There is also ample open space parking. Once stabilized the building will have market CAP rate of exceeding 7%. Year built ranges from 1945-1972. All property information, including but not limited to square footage, lot size, year built, unit sizes, and unit mix, is deemed reliable but not guaranteed. Buyer shall independently verify all information.
FINANCIAL SUMMARY (ACTUAL - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$243,156
|
$28.85
|
| Other Income |
$4,200
|
$0.50
|
| Vacancy Loss |
$7,295
|
$0.87
|
| Effective Gross Income |
$240,061
|
$28.49
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$82,295
|
$9.77
|
| Net Operating Income |
$157,766
|
$18.72
|
FINANCIAL SUMMARY (ACTUAL - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $243,156 |
| Annual Per SF | $28.85 |
| Other Income | |
|---|---|
| Annual | $4,200 |
| Annual Per SF | $0.50 |
| Vacancy Loss | |
|---|---|
| Annual | $7,295 |
| Annual Per SF | $0.87 |
| Effective Gross Income | |
|---|---|
| Annual | $240,061 |
| Annual Per SF | $28.49 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $82,295 |
| Annual Per SF | $9.77 |
| Net Operating Income | |
|---|---|
| Annual | $157,766 |
| Annual Per SF | $18.72 |
PROPERTY FACTS
| Price | $3,300,000 | Property Type | Multifamily |
| Price Per Unit | $366,667 | Building Size | 8,427 SF |
| Sale Type | Investment | Average Occupancy | 100% |
| Cap Rate | 4.78% | No. Stories | 1 |
| Gross Rent Multiplier | 13.34 | Year Built/Renovated | 1945/1972 |
| No. Units | 9 |
| Price | $3,300,000 |
| Price Per Unit | $366,667 |
| Sale Type | Investment |
| Cap Rate | 4.78% |
| Gross Rent Multiplier | 13.34 |
| No. Units | 9 |
| Property Type | Multifamily |
| Building Size | 8,427 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built/Renovated | 1945/1972 |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 3+1 | 6 | $2,175 | - |
| 2+1 | 1 | $2,173 | - |
| 4+2 | 2 | $2,251 | - |
1 1
Walk Score®
Very Walkable (72)
Bike Score®
Very Bikeable (78)
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431 S Susan St - Susan Street Apartments
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