Bread-and-Butter Duplex with
For Sale
$1,100,000
1529 N Van Ness AVE, Santa Ana, CA 92706
Two-bedroom, one-bath duplex offers two detached one-car garages with alley access and separate utilities.
Property Size1,860 SF
Lot Size0.23 Acres
Price / SF$591.40
Days on Market15
Property Features for 1529 N Van Ness AVE
General Information
Standard status
Active
Size
1,860 SF
Lot size
0.23 Acres
Property subtype
Multi Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1948
Tenancy
Multi
Listing Agency:
Century 21 Affiliated
(714) 271-7727
Listed By:
Richard Lobin · License #00704431
(714) 271-7727
Source:
Exitrealty
Added: Jul 25
Changed: Jul 28
Last Checked: Aug 7 at 2:14AM
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 Century 21 Affiliated
Investment Insights
Based on property information with market context.
This bread-and-butter duplex features two units, each configured with two bedrooms and one bathroom. Per public records, each unit is approximately 930 square feet, and the buyer is encouraged to verify all measurements. The property is described as clean, basic, and rent-ready, with the option to live in one unit while renting the other. The original windows were replaced.
There are two electric meters, two gas meters, and one water meter servicing the duplex. At the rear, the property includes two one-car garages with alley access, along with pedestrian access from the garage areas to the units.
The offering is for sale and is delivered vacant, enabling a new owner to rent the units at market rates, as described in the remarks. The lot size is reported as nearly 10,000 square feet per public records, and the buyer should verify. The remarks also note that the potential for an ADU exists, subject to buyer due diligence.
There are two electric meters, two gas meters, and one water meter servicing the duplex. At the rear, the property includes two one-car garages with alley access, along with pedestrian access from the garage areas to the units.
The offering is for sale and is delivered vacant, enabling a new owner to rent the units at market rates, as described in the remarks. The lot size is reported as nearly 10,000 square feet per public records, and the buyer should verify. The remarks also note that the potential for an ADU exists, subject to buyer due diligence.
Key Highlights
- 1948 duplex with two 2BD/1BA units, each about 930 SF per public records (buyer to verify).
- Lot nearly 10,000 SF per public records (buyer to verify) with alley access to two detached one‑car garages.
- Separate utilities: 2 electric meters, 2 gas meters, and 1 water meter serving the two units.
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
$33,653
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
3.06%
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%
$673,060
$673.1K
Cap Rate 7%
$480,757
$480.8K
Cap Rate 9%
$373,922
$373.9K
Market Conditions
NOI Build-Up for 1,860 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
$50.2K $27.00/SF
− Vacancy
−$2.1K −$1.15/SF
EGI
$48.1K $25.85/SF
− OpEx
−$14.4K −$7.75/SF
NOI
$33.7K $18.09/SF
Area
Santa Ana, CA
Vacancy
4.27%
Lease Rate
$27.00 /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%
$673,060
Cap Rate 7%
$480,757
Cap Rate 9%
$373,922
Alternative Uses
Best Use
Multifamily LT 5
$480.8K
$420.7K – $560.9K
NOI $33,653 @ 7.0% cap · market cap 3.06%
Second Best
Apartment 5plus
$427.1K
$373.7K – $498.3K
NOI $29,895 @ 7.0% cap · market cap 2.72%
Theoretical Best
Office A
$628.5K
$549.9K – $733.3K
NOI $43,995 @ 7.0% cap · market cap 4.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,206
Businesses Nearby
Explore this area
Business Placement
Demographics for 92706, CA
35,621
Population
10,473
Households
3.4
Avg Household Size
35
Median Age
23%
College-Educated
69%
High-School Grad
3.5 sq mi
ZIP Area
10,177
Density / Sq Mi
$96,424
Median Household Income
$36,850
Median Earnings
$1,890
Median Rent
$839,100
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 - Two-bedroom, one-bath duplex offers two detached one-car garages with alley access and separate utilities.
Where is this duplex located?
The property is located at 1529 N Van Ness AVE Santa Ana, CA.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 1948 duplex with two 2BD/1BA units, each about 930 SF per public records (buyer to verify).; Lot nearly 10,000 SF per public records (buyer to verify) with alley access to two detached one‑car garages.; Separate utilities: 2 electric meters, 2 gas meters, and 1 water meter serving the two units.
