1409 West Lingan Lane

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Address: 1409 W Lingan Ln, Santa Ana, CA 92704, USA

California & West + Apartment Buildings

Created date: February 7, 2024

Date last updated: August 14, 2024

Attractive Mix of One & Two-Bedroom Units
Features 82 Percent Two-Bedroom Floor Plans
Potential Accessory Dwelling Unit Conversion Utilizing the Existing Laundry Facility
New Roof Installed in 2021
Gated Pedestrian Access & Spacious Central Courtyard
The Community Offers an On-Site Laundry Facility & Ample Garage Parking
Within Walking Distance of Bristol Swap Mall & Northgate Market
Just Over 1 Mile from Downtown Santa Ana, Granting Residents Easy Access to the City’s Civic Center as well as a Trendy, Local Culinary Hub
1.20 Miles from Centennial Regional Park, Allowing Residents Easy Access to a Number of Outdoor Activities
Just Over 2 Miles from The South Coast Metro, a Major Employment & Retail Hub for the Region
Convenient Access to the Interstate 5 & State Route 55 Interchange, Connecting Residents to Employment Hubs Throughout Orange County

Property Description

Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire 1409 West Lingan Lane, an 11-unit multifamily investment property located in Santa Ana, California. Situated on a 0.25-acre lot, 1409 West Lingan Lane consists of one and two-bedroom units and includes amenities such as gated pedestrian access, a central courtyard, garage parking, and an on-site laundry facility. There is potential for new ownership to further increase cash flow through the conversion of the current laundry facility into an accessory dwelling unit (ADU). 1409 West Lingan Lane is within walking distance of the Bristol Swap Mall, offering nearly 60,000 square feet of retail space and over 50 stores, providing residents with convenient access to a variety of retail, dining, and entertainment options. Additionally, the property is located just over 1 mile from Downtown Santa Ana and the bustling 4th Street Market, which grants residents easy access to the City’s civic center as well as a trendy, local culinary hub. 1409 West Lingan Lane is within a 1-mile radius of numerous education centers such as Martin Luther King Jr. Elementary School, Carr Intermediate School, Valley High School, and Mater Dei High School. The property is just 1.20 miles from Centennial Regional Park, a sprawling community center that spans just over 69 acres, providing residents easy access to a number of outdoor activities. Furthermore, 1409 West Lingan Lane is just over 3 miles from the Interstate 5 and State Route 55 Interchange. Named the county seat in 1889, Santa Ana is also known as the financial and governmental center of Orange County. It’s been in recent competition with its fast growing neighbor, the city of Irvine, in regards to commercial growth. As the city’s commercial wealth grows, average household income growth is also projected to rise by 18.32 percent to $111,750 by 2026. Given the strong market dynamics and unique appeal of the subject property, 1409 West Lingan Lane is well suited to provide investors with strong returns and value appreciation over the long-term investment horizon.

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Key Property Information

Listing Status:	Unavailable
Listing Type:	Call for offers
Property Types:	Apartment Buildings
Price:	$2,950,000
No. of Units:	11
Average Occupancy:	6
Year Built:	1959
Lot Size:	0.25 Sq ft
Opportunity Zone:	No
Price per unit:	$268,182
Property Website	Click Here