Two-Unit Duplex with Private
For Sale
$1,150,000
1514 E 4th, Santa Ana, CA 92701
Separate residences offer individual outdoor space, laundry areas, and shared access to a two-car garage.
Property Size2,463 SF
Lot Size0.22 Acres
Days on Market96
Property Features for 1514 E 4th
General Information
Standard status
Active
Size
2,463 SF
Lot size
0.22 Acres
Property subtype
Duplex
Units
Unit Mix
1 x 5BR/1.5BA, 1 x 2BR/1.5BA
Multifamily Units
2
Amenities
fireplace
covered patio
private yard
laundry area
mature fruit trees
Building Details
Building Size
2,463 SF
Year Built
1948
Listing Agency:
Circa Properties, Inc.
Listed By:
Young Park · License #01930023
(949) 433-8988
Source:
Stephanieyounggroup
Added: Jun 1
Changed: Sep 3
Last Checked: Sep 4 at 10:00AM
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 Circa Properties, Inc.
Investment Insights
Based on property information with market context.
This 1948 duplex at 1514 E 4th in Santa Ana includes two separate residences on an approximately 9,583 SF parcel. The front home provides approximately 1,750 SF with 5 bedrooms and 1.5 bathrooms, along with dual-pane windows, hardwood floors, two fireplaces, a kitchen, and a covered patio. The rear residence is positioned behind the garage and contains approximately 750 SF, 2 bedrooms, and 1.5 bathrooms.
Each unit has a private yard and laundry area. The property also includes shared access to a spacious 2-car garage, additional on-site parking, and mature orange, lemon, fig, and persimmon trees. Located near Santa Ana’s downtown district, the property is zoned for professional use; permitted uses should be verified with the City of Santa Ana.
Each unit has a private yard and laundry area. The property also includes shared access to a spacious 2-car garage, additional on-site parking, and mature orange, lemon, fig, and persimmon trees. Located near Santa Ana’s downtown district, the property is zoned for professional use; permitted uses should be verified with the City of Santa Ana.
Key Highlights
- Two separate residences on an approximately 9,583 SF lot
- Front residence offers approximately 1,750 SF, 5 bedrooms, and 1.5 bathrooms
- Rear residence includes approximately 750 SF, 2 bedrooms, and 1.5 bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$53,347
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.64%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,066,940
$1.1M
Cap Rate 7%
$762,100
$762.1K
Cap Rate 9%
$592,744
$592.7K
Market Conditions
NOI Build-Up for 2,463 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$79.8K $32.40/SF
− Vacancy
−$3.6K −$1.46/SF
EGI
$76.2K $30.94/SF
− OpEx
−$22.9K −$9.28/SF
NOI
$53.3K $21.66/SF
Area
ZIP 92701
Vacancy
4.50%
Lease Rate
$32.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,066,940
Cap Rate 7%
$762,100
Cap Rate 9%
$592,744
Alternative Uses
Best Use
Multifamily LT 5
$762.1K
$666.8K – $889.1K
NOI $53,347 @ 7.0% cap · market cap 4.64%
Second Best
Apartment 5plus
$699.3K
$611.9K – $815.9K
NOI $48,953 @ 7.0% cap · market cap 4.26%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,455
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Separate residences offer individual outdoor space, laundry areas, and shared access to a two-car garage.
Where is this duplex located?
The property is located at 1514 E 4th Santa Ana, CA.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Two separate residences on an approximately 9,583 SF lot; Front residence offers approximately 1,750 SF, 5 bedrooms, and 1.5 bathrooms; Rear residence includes approximately 750 SF, 2 bedrooms, and 1.5 bathrooms
