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The Warburton Team Brokered By EXp

andreww@gowpnow.com +1(626) 630-2141

$1,725,000

Est. payment - /mo

9,583 Sqft Lot

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UPDATED:

Key Details

Property Type Apartment

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

Subdivision French Park Condos (Frpc)

MLS Listing ID PW26063396

HOA Y/N No

Year Built 1937

Lot Size 9,583 Sqft

Property Sub-Type Apartment

Property Description

An excellent opportunity to acquire an 8-unit multifamily building in Santa Ana. Located at 802 N Spurgeon St, this multifamily asset was built in 1937. It offers four 2 bed, 1 bath units, two units with 1 bedroom and dining room, and two studios. Residents of the property enjoy use of an off-street parking lot, as well as three garages for additional storage. The buildings boast a total of 5,042 gross rentable square feet on a good sized 9,288 square foot corner lot.
Santa Ana has seen a steady increase in demand for apartment units as rental prices are still relatively low compared to other neighborhoods in Orange County. While rents remain reasonable in some neighborhoods, other areas such as the Downtown and Lacy neighborhoods have A-quality developments that have already been completed. Recent development projects such as The 301 Development at City Place, The Madison and The Depot @ Santiago have attracted additional buzz. Santa Ana offers an astonishing variety of activities including dining & shopping options in the Downtown District, concerts at the Observatory and nightlife at Velvet Lounge and Mission Bar.
Residents of 802 N Spurgeon St enjoy the property for a combination of reasons including accessibility to quick transportation, quality schools and universities, nearby parks and golf courses and of course the Disney Land/California Adventure theme parks only a few exits down the freeway. The property is only two blocks away from Downtown Santa Ana with an abundance of shops, bars and restaurants to choose from. It is walking distance to 7-Eleven, Burger King, Jack in the Box, Starbucks, McFadden Public Market and Wells Fargo Bank. Sports fans will find the location particularly appealing due to its convenient location, which is about fifteen minutes by car to The Honda Center and Angel Stadium. Transportation is especially easy because the neighborhood is bordered by the 5 freeway. With the neighborhood being located between a number of universities such as UC Irvine and Cal State Fullerton a high concentration of students tend to reside here.
For the right investor, this multi-family asset will represent a great opportunity to generate years of steady cash flow and a higher-than-average ROI. With a minor investment in fixtures and aesthetics a significant increase in rental income will be achievable.

Location

State CA

County Orange

Area 70 - Santa Ana North Of First

Interior

Fireplace No

Laundry None

Exterior

Garage Spaces 3.0

Garage Description 3.0

Pool None

Community Features Suburban

Total Parking Spaces 3

Private Pool No

Building

Lot Description Corner Lot, Yard

Story 2

Entry Level Two

Sewer Aerobic Septic

Water Public

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 39801605

Acceptable Financing Cash, Cash to New Loan

Listing Terms Cash, Cash to New Loan

Special Listing Condition Standard

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Listed by Justin White Justin White 714.231.2537, DRE #01267826

NEARBY SCHOOL & BUSINESS

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802 N Spurgeon ST Santa Ana, CA 92701