18-Unit Apartment Community with
For Sale
$3,450,000
116 S Orange, Santa Ana, CA 92701
Well-maintained 18-unit community offering secured access, private garages, and on-site laundry in Santa Ana’s urban core.
Property Size12,487 SF
Days on Market248
Property Features for 116 S Orange
General Information
Standard status
Active
Size
12,487 SF
Property subtype
Apartment
Additional Details
Multifamily Units
18
Building Details
Building Size
12,487 SF
Year Built
1953
Listing Agency:
Morgan Skenderian
Listed By:
Rick Applebaum · License #01273871
Source:
Altamirarealty
Added: Feb 17
Changed: Oct 16
Last Checked: Oct 21 at 5:59AM
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 Morgan Skenderian
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Investment Insights
Based on property information with market context.
This well-maintained 18-unit apartment community features all one-bedroom units. Residents benefit from secured access, a central landscaped courtyard, private garages, and on-site laundry. Recent capital improvements include new roofs, replaced electrical panels, and full SB 721 compliance, addressing near-term maintenance and risk concerns while supporting long-term operational stability.
The property is located in Santa Ana, CA, in close proximity to Downtown Santa Ana and the 4th Street Market. The surrounding area offers a mix of dining, entertainment, and shopping, with nearby cultural attractions including the Santa Ana Zoo and Bowers Museum. The remarks also indicate convenient access to major transportation hubs and proximity to educational institutions.
For buyers and operators, this asset provides a straightforward residential income profile with consistent unit mix and resident-focused amenities. The combination of secured entry, private garages, and shared courtyard space may appeal to tenants seeking comfort and practicality, while the documented property improvements and SB 721 compliance can help reduce immediate uncertainty for new ownership.
The property is located in Santa Ana, CA, in close proximity to Downtown Santa Ana and the 4th Street Market. The surrounding area offers a mix of dining, entertainment, and shopping, with nearby cultural attractions including the Santa Ana Zoo and Bowers Museum. The remarks also indicate convenient access to major transportation hubs and proximity to educational institutions.
For buyers and operators, this asset provides a straightforward residential income profile with consistent unit mix and resident-focused amenities. The combination of secured entry, private garages, and shared courtyard space may appeal to tenants seeking comfort and practicality, while the documented property improvements and SB 721 compliance can help reduce immediate uncertainty for new ownership.
Key Highlights
- 18‑unit apartment community in Santa Ana, built in 1953
- All units are 1‑bedroom and the property includes private garages
- Secured access with a central landscaped courtyard and on‑site laundry
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$248,182
Cap Rate
7.19%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,963,640
$5.0M
Cap Rate 7%
$3,545,457
$3.5M
Cap Rate 9%
$2,757,578
$2.8M
Market Conditions
NOI Build-Up for 12,487 SF
Gross rent
$472.0K $37.80/SF
− Vacancy
−$20.8K −$1.66/SF
EGI
$451.2K $36.14/SF
− OpEx
−$203.1K −$16.26/SF
NOI
$248.2K $19.88/SF
Area
ZIP 92701
Vacancy
4.40%
Lease Rate
$37.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,963,640
Cap Rate 7%
$3,545,457
Cap Rate 9%
$2,757,578
Alternative Uses
Best Use
Apartment 5plus
$3.55M
$3.10M – $4.14M
NOI $248,182 @ 7.0% cap · market cap 7.19%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$3.86M
$3.38M – $4.51M
NOI $270,461 @ 7.0% cap · market cap 7.84%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
18
Residential units
Location Intelligence
Trade Area within ½ mile
3,557
Businesses Nearby
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Business Placement
Demographics for 92701, CA
48,789
Population
13,470
Households
3.6
Avg Household Size
32
Median Age
11%
College-Educated
62%
High-School Grad
3.2 sq mi
ZIP Area
15,247
Density / Sq Mi
$68,697
Median Household Income
$33,846
Median Earnings
$1,650
Median Rent
$608,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Well-maintained 18-unit community offering secured access, private garages, and on-site laundry in Santa Ana’s urban core.
Where is this apartment building located?
The property is located at 116 S Orange Santa Ana, CA.
What is the asking price?
The asking price for this property is $3,450,000.
What are key features of this property?
This property features: 18‑unit apartment community in Santa Ana, built in 1953; All units are 1‑bedroom and the property includes private garages; Secured access with a central landscaped courtyard and on‑site laundry
