Four-Unit Residential Income
For Sale
$1,200,000
Pending
1617 Cedar, Santa Ana, CA 92707
Four separately metered units include private garages and in-unit laundry hookups, with fenced patios on most units.
Property Size3,279 SF
Days on Market105
Property Features for 1617 Cedar
General Information
Standard status
Pending
Size
3,279 SF
Total Parking Spaces
4
Property subtype
Residential Income
Net Operating Income
$67,084
Site & Location
Neighborhood
Cedar Evergreen Co-Op
Highway Access
Yes
Additional Details
Multifamily Units
4
Amenities
private garage
in-unit laundry hookups
separately metered gas and electric
private patios
Building Details
Building Size
3,279 SF
Year Built
1963
Buildings
1
Stories
2
Tenancy
Multi
Listing Agency:
Hoyt Real Estate, Inc.
Listed By:
Matthew Hoyt · License #01426139
(949) 619-6159
Source:
Evrealestate
Added: Jul 23
Changed: Oct 25
Last Checked: Nov 3 at 5:42AM
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.
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Investment Insights
Based on property information with market context.
This four-unit residential income property offers a practical unit mix of three two-bedroom, one-bath units and one larger one-bedroom unit over a garage. The buildings include three single-story units and one unit configured over garage, and each unit has its own private garage plus in-unit laundry hookups. All units are separately metered for gas and electric, and three of the four units include large fenced private patios.
The property provides additional street and alley parking for tenant convenience. The alley was recently repaved in concrete, which may help reduce near-term maintenance needs.
Designed for tenant-friendly everyday living, the layout provides private outdoor space for most units and separate utility metering across all four homes.
The property provides additional street and alley parking for tenant convenience. The alley was recently repaved in concrete, which may help reduce near-term maintenance needs.
Designed for tenant-friendly everyday living, the layout provides private outdoor space for most units and separate utility metering across all four homes.
Key Highlights
- Four‑unit property built in 1963 in Central Santa Ana
- Unit mix: three 2 bed/1 bath units plus one large 1 bed unit over garage
- All units have private garages and in‑unit laundry hookups; units are separately metered for gas and electric
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$56,856
Cap Rate
4.74%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,137,120
$1.1M
Cap Rate 7%
$812,229
$812.2K
Cap Rate 9%
$631,733
$631.7K
Market Conditions
NOI Build-Up for 3,279 SF
Gross rent
$84.6K $25.80/SF
− Vacancy
−$3.4K −$1.03/SF
EGI
$81.2K $24.77/SF
− OpEx
−$24.4K −$7.43/SF
NOI
$56.9K $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 Rate 5%
$1,137,120
Cap Rate 7%
$812,229
Cap Rate 9%
$631,733
Alternative Uses
Best Use
Multifamily LT 5
$812.2K
$710.7K – $947.6K
NOI $56,856 @ 7.0% cap · market cap 4.74%
Second Best
Apartment 5plus
$749.3K
$655.7K – $874.2K
NOI $52,453 @ 7.0% cap · market cap 4.37%
Theoretical Best
Office A
$899.2K
$786.8K – $1.05M
NOI $62,941 @ 7.0% cap · market cap 5.25%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
4
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,856
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Quadplex - Four separately metered units include private garages and in-unit laundry hookups, with fenced patios on most units.
Where is this quadplex located?
The property is located at 1617 Cedar Santa Ana, CA.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Four‑unit property built in 1963 in Central Santa Ana; Unit mix: three 2 bed/1 bath units plus one large 1 bed unit over garage; All units have private garages and in‑unit laundry hookups; units are separately metered for gas and electric
