116 S Orange Ave
- $204,167 Price/Unit
- Newer Roofs (2022), Electrical Panels (2024) and SB721 Compliant
- Prime Rental Location just a few Blocks from Downtown/4th Street Market
- Long-Term, Multigenerational Ownership
- Projected ±31% in Rental Upside, Over ±13% Cash on Cash Return on Market Rents
- Estimate of ±30% Increase in Value Upon Stabilization
Property Description
This well-maintained 18-unit apartment community presents a compelling value-add opportunity in the heart of a rapidly evolving urban core. The property features all one-bedroom units and offers desirable amenities including private garages, secured access, a central landscaped courtyard, and on-site laundry, creating strong tenant appeal. Recent capital improvements include new roofs, replaced electrical panels, and full SB 721 compliance, significantly reducing near-term maintenance and risk. Offered at an exceptionally attractive $204,167 per unit, the asset delivers impressive fundamentals with approximately ±31% rent upside, over ±13% cash flow on market rents, and projected ±30% equity growth upon stabilization. Situated blocks from Downtown Santa Ana and the vibrant 4th Street Market, residents enjoy walkable access to a thriving mix of dining, entertainment, nightlife, and cultural attractions, along with proximity to major employment centers and transit, making this an ideal location for tenants seeking both convenience and lifestyle.
Broker Details
Morgan Skenderian Investment Real Estate Group (949) 251-8800
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $3,675,000 |
| No. of Units: | 18 |
| Year Built: | 1953 |
| Lot Size: | 0.34 Acres |
| Opportunity Zone: | No |
| Price per unit: | $204,167 |
| Property Website | Click Here |
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