Detached Three-Unit Multifamily
New
For Sale
$1,468,088
1001 W Myrtle, Santa Ana, CA 92703
Two separate structures offer rental units with individual utility meters.
Property Size3,726 SF
Lot Size0.22 Acres
Days on Market4
Property Features for 1001 W Myrtle
General Information
Standard status
Active
Size
3,726 SF
Lot size
0.22 Acres
Property subtype
Investment
Site & Location
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$12,906
Building Details
Building Size
3,726 SF
Year Built
1987
Year Renovated
2022
Buildings
2
Stories
1
Units
3
Listing Agency:
TNG Real Estate Consultants
Listed By:
Carmen Abram Tawfik · License #01983282
(714) 403-1797
Source:
Elliman
Added: Oct 7
Changed: Oct 10
Last Checked: Oct 9 at 11:17PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of TNG Real Estate Consultants
Investment Insights
Based on property information with market context.
This multifamily property comprises two detached buildings sold together, with three rental units, 10 rooms, three full baths, and two full kitchens. The buildings were remodeled in 2022, including updates to windows, flooring, kitchen cabinetry, countertops, bathroom vanities, and tubs. The property also has five garages and additional on-site parking on a 9,583-square-foot lot.
Existing garage structures have documented potential for ADU conversion, with stamped plans available for review. The property is near the Tustin and Orange borders, with access to major freeways, employment centers, shopping, dining, and schools. Separate utility meters serve the buildings.
Existing garage structures have documented potential for ADU conversion, with stamped plans available for review. The property is near the Tustin and Orange borders, with access to major freeways, employment centers, shopping, dining, and schools. Separate utility meters serve the buildings.
Key Highlights
- Two detached buildings contain three rental units
- Remodeled in 2022, with updates to windows, flooring, kitchens, and bathrooms
- 9,583‑square‑foot lot with five garages and additional parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$62,496
Cap Rate
4.26%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,249,920
$1.2M
Cap Rate 7%
$892,800
$892.8K
Cap Rate 9%
$694,400
$694.4K
Market Conditions
NOI Build-Up for 3,726 SF
Gross rent
$118.5K $31.80/SF
− Vacancy
−$4.9K −$1.30/SF
EGI
$113.6K $30.50/SF
− OpEx
−$51.1K −$13.72/SF
NOI
$62.5K $16.77/SF
Area
ZIP 92703
Vacancy
4.10%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,249,920
Cap Rate 7%
$892,800
Cap Rate 9%
$694,400
Alternative Uses
Best Use
Apartment 5plus
$892.8K
$781.2K – $1.04M
NOI $62,496 @ 7.0% cap · market cap 4.26%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.08M
$943.6K – $1.26M
NOI $75,490 @ 7.0% cap · market cap 5.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,814
Businesses Nearby
Explore this area
Business Placement
Demographics for 92703, CA
65,621
Population
14,644
Households
4.5
Avg Household Size
34
Median Age
13%
College-Educated
60%
High-School Grad
4.2 sq mi
ZIP Area
15,624
Density / Sq Mi
$80,817
Median Household Income
$33,363
Median Earnings
$1,922
Median Rent
$585,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Multifamily property - Two separate structures offer rental units with individual utility meters.
Where is this multifamily property located?
The property is located at 1001 W Myrtle Santa Ana, CA.
What is the asking price?
The asking price for this property is $1,468,088.
What are key features of this property?
This property features: Two detached buildings contain three rental units; Remodeled in 2022, with updates to windows, flooring, kitchens, and bathrooms; 9,583‑square‑foot lot with five garages and additional parking
