Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    515 S Van Ness Ave, Unit 513 Santa Ana, CA 92701

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $1,040,000

    Specialty property available for sale in Santa Ana.

    Lot size:
    0.14 Acres

    Property Features for 515 S Van Ness Ave

    General Information

    Lot size
    0.14 Acres

    Building Details

    Year built
    1939

    We can help!

    Listing Contact
    Martin Le
    Source: Elliman

    Listing Agent: Martin Le

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Santa Ana Specialty Property

    This specialty property is available for sale. The list price is $1,040,000.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Specialty properties

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Santa Ana
    County
    Orange
    State
    California
    Longitude
    -117.873085
    Latitude
    33.740143

    Nearby Similar for Sale

    • $1,250,000
      2,494 SF

      Santa Ana Medical Office Building

      Multi-tenant medical office building with income and upside potential.
      1126 N Flower St, Santa Ana, CA 92703
      View Details
    • $330,000
      20,000 SF

      Santa Ana Office Condo For Sale

      Professional office condo in Santa Ana, great for owner/user.
      960 W 17Th St, Santa Ana, CA 92706
      View Details
    • $430,000
      20,000 SF

      Santa Ana Professional Office Condo

      Professional office condo in Santa Ana, suitable for owner/user or investment.
      960 W 17Th St, Santa Ana, CA 92706
      View Details
    • New
      $899,000
      1,296 SF

      Renovated Duplex in Historic Neighborhood

      Turnkey duplex in Santa Ana's Heninger Park neighborhood.
      604 S Van Ness Ave, Santa Ana, CA 92701
      View Details
    • $3,499,000
      10,000 SF

      Santa Ana Commercial Property For Sale

      Three lots with a 7,600 SF building and mezzanine.
      711 N Fairview St, Santa Ana, CA 92703
      View Details
    • $95,000

      Medical Clinic Business Opportunity

      Established medical clinic for sale in Santa Ana, CA.
      726 S Main St, Santa Ana, CA 92701
      View Details
    • New
      $835,000
      1,350 SF

      Historic Queen Anne Style Home

      Historic home in downtown Santa Ana, potential office space.
      1820 N Bush St, Santa Ana, CA 92706
      View Details
    • $1,499,000
      2,339 SF

      Updated Duplex: Income Opportunity

      Updated duplex featuring two homes on one lot in Santa Ana.
      728 N Euclid St, Santa Ana, CA 92703
      View Details
    • $1,150,000
      3,689 SF

      Santa Ana Four-Unit Apartment Building

      Well-maintained four-unit apartment building in Santa Ana with long-term stability.
      1813 Cedar St, Santa Ana, CA 92707
      View Details
    • $1,650,000
      2,391 SF

      Santa Ana Duplex Investment Opportunity

      Well-maintained duplex in a prime Santa Ana location.
      821 Gunther St, Santa Ana, CA 92703
      View Details
    • $1,798,000
      3,342 SF

      Updated Santa Ana Multifamily Opportunity

      Five-unit multifamily property with recent updates and desirable amenities.
      1519 N Ross St, Santa Ana, CA 92706
      View Details
    • $775,000
      1,216 SF

      Santa Ana Duplex on Corner Lot

      Two detached units on a large corner lot with development potential.
      212 E Adams St, Santa Ana, CA 92707
      View Details

    FAQs

    What type of property is this?
    Specialty property - Specialty property available for sale in Santa Ana.
    Where is this specialty property located?
    The property is located at 515 S Van Ness Ave, Unit 513 Santa Ana, CA.
    What is the asking price?
    The asking price for this property is $1,040,000.
    What are key features of this property?
    This property features: - Year Built: 1939, offering character and established neighborhood appeal; - Price: $11, potentially a very low price point; - Additional property details available
    (657) 208-3070
    Request Owner's contact information
    515 S Van Ness Ave, Unit 513 Santa Ana, CA 92701
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    515 S Van Ness Ave, Unit 513
    Santa Ana, CA 92701
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    515 S Van Ness Ave, Unit 513 Santa Ana, CA 92701
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Martin Le
    (657) 208-3070 (888) 584-9427
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!