8
See all 8 photos
$1,350,000
Est. payment /mo
5 Beds
6,534 Sqft Lot
Active Under Contract
223 S Orange Santa Ana, CA 92701
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Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active Under Contract
Purchase Type For Sale
MLS Listing ID OC25265433
Bedrooms 5
Lot Size 6,534 Sqft
Property Sub-Type Res Income 2-4 Units
Property Description
Presenting 223 South Orange Avenue, a high-cash-flow five-unit multifamily investment property located in the desirable Pacific Park neighborhood of Santa Ana, California. The property features a spacious Victorian front house configured as a five-bedroom, five-bath unit, complemented by a rear four-plex offering efficient studio floorplans designed to maximize rental income and promote long-term occupancy stability. Residents enjoy desirable amenities including an on-site laundry facility, a shared central courtyard, four individual garage parking spaces, and security screen doors. The property has been professionally managed throughout ownership, ensuring consistent performance and reliable cash flow. A Ratio Utility Billing System (RUBS) is in place, effectively reducing ownership expenses and improving operating efficiency. Recent capital improvements include upgraded electrical panel on the front house. While the property provides strong in-place income, additional interior and exterior renovations present a clear opportunity to further enhance value, elevate curb appeal, and achieve higher market rents. The garages offer an additional value-add opportunity in which buyers may rent them out for supplemental income or explore converting them into an ADU to further maximize returns (buyer to verify all ADU feasibility with the City of Santa Ana). The asset currently generates $129,775 in gross annual income ($10,815 per month), reflecting a strong 10.40 Gross Income Multiplier (GIM) with meaningful upside through strategic improvements and rent repositioning. Ideally loc
Location
State CA
County Orange
Zoning Assessor
Direction Corner of S Orange Ave and E Pine St
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 2
Level or Stories 2
Others
Senior Community No
Tax ID 40409307
Acceptable Financing Cash, Exchange
Listing Terms Cash, Exchange
Listed by Justin Butler Kirklen Investment Group
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