Santa Ana Fourplex with
For Sale
$1,499,000
1714 Evergreen St, Santa Ana, CA 92707
Four-unit building with remodeled units and garage parking.
Property Size3,300 SF
Days on Market142
Property Features for 1714 Evergreen St
General Information
Standard status
Active
Size
3,300 SF
Property subtype
Investment
Building Details
Building Size
3,300 SF
Year Built
1961
Stories
2
Units
4
Listing Agency:
(714) 202-2888
Listed By:
Tiffany Hua
Source:
Elliman
Added: Apr 11
Changed: Aug 26
Last Checked: Aug 29 at 10:12AM
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 Tiffany Hua
Investment Insights
Based on property information with market context.
This fourplex is a single building structure featuring two units upstairs and two units downstairs, each with an identical layout. Each unit includes two bedrooms and one bathroom. The property has a new roof, new waterproof decking, and new paint. An enclosed garage provides four parking spaces, with additional parking available in the space between the garage and the building. Tenants are responsible for covering the costs of water, electricity, and gas. Units #4 and #2 have been fully remodeled with a modern style. The property offers convenient access to the 55 and 5 freeways. The location is very bikeable with a bike score of 75 and very walkable with a walk score of 74. The transit score is 45, indicating some transit options are available.
Key Highlights
- Tenants pay all utilities, maximizing owner income.
- Two units are fully remodeled with a modern style.
- New roof, waterproof decking, and paint enhance property value and reduce maintenance.**
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
$57,220
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
3.82%
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%
$1,144,400
$1.1M
Cap Rate 7%
$817,429
$817.4K
Cap Rate 9%
$635,778
$635.8K
Market Conditions
NOI Build-Up for 3,300 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
$85.1K $25.80/SF
− Vacancy
−$3.4K −$1.03/SF
EGI
$81.7K $24.77/SF
− OpEx
−$24.5K −$7.43/SF
NOI
$57.2K $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%
$1,144,400
Cap Rate 7%
$817,429
Cap Rate 9%
$635,778
Alternative Uses
Best Use
Multifamily LT 5
$817.4K
$715.3K – $953.7K
NOI $57,220 @ 7.0% cap · market cap 3.82%
Second Best
Apartment 5plus
$754.1K
$659.9K – $879.8K
NOI $52,789 @ 7.0% cap · market cap 3.52%
Theoretical Best
Office A
$904.9K
$791.8K – $1.06M
NOI $63,344 @ 7.0% cap · market cap 4.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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?
Quadplex - Four-unit building with remodeled units and garage parking.
Where is this quadplex located?
The property is located at 1714 Evergreen St Santa Ana, CA.
What is the asking price?
The asking price for this property is $1,499,000.
What are key features of this property?
This property features: Tenants pay all utilities, maximizing owner income.; Two units are **fully remodeled with a modern style.**; New roof, waterproof decking, and paint enhance property value and reduce maintenance.**
