615 E Civic Center DR Active Save Request In-Person Tour Request Virtual Tour
Santa Ana,CA 92701
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Subdivision ,Other
MLS Listing ID OC24210554
Year Built 1978
Lot Size 7,501 Sqft
Property Description
615 Civic Center East Drive, a prime 6-unit multifamily investment property located in the desirable French Park Historical Neighborhood of Santa Ana, CA. Built in 1978, this property features large six two-bedroom and two bath floorplans, complete with amenities such as garages, onsite
laundry facility, patio or balconies, and fireplace (select units). The property has had recent capital improvements including upgraded windows, upgraded roof, upgraded facia boards, and is SB-721 compliant. Currently the property offering a 13.76 GIM and a 4.82% CAP rate, providing
investors a great cashflow in a highly desirable location. Additionally, the property offers the opportunity to convert the garages into an Additional Dwelling Unit (ADU), further increasing the rental income potential. The buyer must verify this possibility with the City of Santa Ana to ensure compliance with local zoning and building regulations. Its prime location is just 0.4 miles from Santa Ana Metrolink Station, and 0.6 miles from the lively 4th Street Market and Downtown Santa Ana, providing tenants with easy access to local businesses, dining, and nightlife. Additionally, the property is within 1.90 miles of Santa Ana College, appealing to students and faculty. With proximity to the 5 Interstate, residents can conveniently connect to major employment hubs across Orange and Los Angeles Counties. This investment not only promises attractive living spaces but also the potential for strong tenant demand in a thriving area.
Location
State CA
County Orange
Area 70 - Santa Ana North Of First
Interior
Laundry Common Area
Exterior
Garage Spaces 10.0
Garage Description 10.0
Pool None
Community Features Curbs,Gutter(s),Storm Drain(s),Sidewalks
Building
Lot Description Street Level
Story 2
Sewer Public Sewer
Water Public
New Construction No
Others
Acceptable Financing Cash,Cash to New Loan,1031 Exchange
Listing Terms Cash,Cash to New Loan,1031 Exchange
Special Listing Condition Standard