Three-Unit Residential Income
For Sale
$1,050,000
1613 Cedar, Santa Ana, CA 92707
Three separately metered units each include private garages and in-unit washer/dryer hookups with fenced private patios.
Property Size3,052 SF
Days on Market24
Property Features for 1613 Cedar
General Information
Standard status
Active
Size
3,052 SF
Property subtype
Investment
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Additional Details
Multifamily Units
3
Building Details
Building Size
3,052 SF
Year Built
1963
Units
3
Listing Agency:
Hoyt Real Estate Inc
(949) 619-6159
Listed By:
Matthew Hoyt · License #01426139
(949) 619-6159
Source:
Elliman
Added: Jul 24
Changed: Aug 8
Last Checked: Jul 31 at 12:30PM
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 Hoyt Real Estate Inc
Investment Insights
Based on property information with market context.
This three-unit residential income property includes one single-story two-bedroom, one-bath home and two townhouse-style two-bedroom, one-and-a-half-bath units. Each unit has its own private garage, with one unit offering direct interior access, and all units include fenced private patios and in-unit washer and dryer hookup. Units are separately metered for gas and electric.
Additional street and alley parking is available for tenant convenience. The exterior has been upgraded with new windows throughout.
Two of the three units have undergone nearly complete interior renovations, including new drywall, flooring, granite countertops, new cabinetry, updated kitchen and bathroom fixtures, gas range, and forced air heating and cooling.
Additional street and alley parking is available for tenant convenience. The exterior has been upgraded with new windows throughout.
Two of the three units have undergone nearly complete interior renovations, including new drywall, flooring, granite countertops, new cabinetry, updated kitchen and bathroom fixtures, gas range, and forced air heating and cooling.
Key Highlights
- Three‑unit property built in 1963 in Central Santa Ana
- Unit mix: one single‑story 2BD/1BA and two townhouse‑style 2BD/1.5BA units
- Each unit has its own private garage and fenced private patio, with in‑unit washer/dryer hookup
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
$52,920
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
5.04%
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%
$1,058,400
$1.1M
Cap Rate 7%
$756,000
$756.0K
Cap Rate 9%
$588,000
$588.0K
Market Conditions
NOI Build-Up for 3,052 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
$78.7K $25.80/SF
− Vacancy
−$3.1K −$1.03/SF
EGI
$75.6K $24.77/SF
− OpEx
−$22.7K −$7.43/SF
NOI
$52.9K $17.34/SF
Area
ZIP 92707
Vacancy
3.99%
Lease Rate
$25.80 /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%
$1,058,400
Cap Rate 7%
$756,000
Cap Rate 9%
$588,000
Alternative Uses
Best Use
Multifamily LT 5
$756.0K
$661.5K – $882.0K
NOI $52,920 @ 7.0% cap · market cap 5.04%
Second Best
Apartment 5plus
$697.5K
$610.3K – $813.7K
NOI $48,822 @ 7.0% cap · market cap 4.65%
Theoretical Best
Office A
$836.9K
$732.3K – $976.4K
NOI $58,584 @ 7.0% cap · market cap 5.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,856
Businesses Nearby
Explore this area
Business Placement
Demographics for 92707, CA
56,456
Population
14,767
Households
3.8
Avg Household Size
33
Median Age
17%
College-Educated
65%
High-School Grad
5.2 sq mi
ZIP Area
10,857
Density / Sq Mi
$99,491
Median Household Income
$35,582
Median Earnings
$2,141
Median Rent
$635,600
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?
Triplex - Three separately metered units each include private garages and in-unit washer/dryer hookups with fenced private patios.
Where is this triplex located?
The property is located at 1613 Cedar Santa Ana, CA.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: Three‑unit property built in 1963 in Central Santa Ana; Unit mix: one single‑story 2BD/1BA and two townhouse‑style 2BD/1.5BA units; Each unit has its own private garage and fenced private patio, with in‑unit washer/dryer hookup
