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$ 1,725,000
Est. payment /mo
Price Dropped by $65K
802 N Spurgeon ST Santa Ana, CA 92701
9,583 Sqft Lot
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.
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
Listed by Justin White Justin White 714.231.2537, DRE #01267826