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French Park 6 Units 502 E Wellington Ave 6 Unit Apartment Building $1,495,000 ($249,167/Unit) 3.67% Cap Rate Santa Ana, CA 92701
Investment Highlights
- Corner Lot
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$90,024
|
$11.18
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$2,700
|
$0.34
|
| Effective Gross Income |
$87,324
|
$10.85
|
| Taxes |
$16,000
|
$1.99
|
| Operating Expenses |
$16,468
|
$2.05
|
| Total Expenses |
$32,468
|
$4.03
|
| Net Operating Income |
$54,856
|
$6.81
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $90,024 |
| Annual Per SF | $11.18 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $2,700 |
| Annual Per SF | $0.34 |
| Effective Gross Income | |
|---|---|
| Annual | $87,324 |
| Annual Per SF | $10.85 |
| Taxes | |
|---|---|
| Annual | $16,000 |
| Annual Per SF | $1.99 |
| Operating Expenses | |
|---|---|
| Annual | $16,468 |
| Annual Per SF | $2.05 |
| Total Expenses | |
|---|---|
| Annual | $32,468 |
| Annual Per SF | $4.03 |
| Net Operating Income | |
|---|---|
| Annual | $54,856 |
| Annual Per SF | $6.81 |
Property Facts
| Price | $1,495,000 | Building Class | C |
| Price Per Unit | $249,167 | Lot Size | 0.20 AC |
| Sale Type | Investment | Building Size | 8,051 SF |
| Cap Rate | 3.67% | Average Occupancy | 100% |
| Gross Rent Multiplier | 16.6 | No. Stories | 2 |
| No. Units | 6 | Year Built | 1929 |
| Property Type | Multifamily | Parking Ratio | 1.59/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | SD - Specific Development | ||
| Price | $1,495,000 |
| Price Per Unit | $249,167 |
| Sale Type | Investment |
| Cap Rate | 3.67% |
| Gross Rent Multiplier | 16.6 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.20 AC |
| Building Size | 8,051 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1929 |
| Parking Ratio | 1.59/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | SD - Specific Development |
Amenities
- Smoke Detector
Unit Amenities
- Balcony
- Washer/Dryer Hookup
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Freezer
Site Amenities
- 24 Hour Access
- Tenant Controlled HVAC
- Public Transportation
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 6 | $2,500 | - |
1 1
Moderately walkable
70/100
Very drivable
80/100
Some public transit
40/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 398-032-01 | Total Assessment | $2,080,000 |
| Land Assessment | $1,850,794 | Annual Taxes | $16,000 ($1.99/SF) |
| Improvements Assessment | $229,206 | Tax Year | 2025 |
Property Taxes
Parcel Number
398-032-01
Land Assessment
$1,850,794
Improvements Assessment
$229,206
Total Assessment
$2,080,000
Annual Taxes
$16,000 ($1.99/SF)
Tax Year
2025
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