Remodeled Second-Floor Office
For Sale
$375,000
1913 E 17th Unit 204, Santa Ana, CA 92705
Professional office condo with private rooms, reception space, restroom, and a flexible open work area.
Property Size1,165 SF
Price / SF$321.89
Days on Market26
Property Features for 1913 E 17th Unit 204
General Information
Standard status
Active
Size
1,165 SF
Additional Details
Floor
2
HOA Fee
$877.17
Highway Access
Yes
Office Units
1
Amenities
high-speed internet available
Building Details
Year Built
1982
Tenancy
Multi
Listing Agency:
Amberwood Real Estate
(562) 799-2388
Listed By:
Frank Sergi
Source:
Myfabuloushome
Added: Aug 6
Changed: Aug 29
Last Checked: Aug 30 at 6:43PM
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 Amberwood Real Estate
Investment Insights
Based on property information with market context.
Unit 204 is a second-floor office condominium with 1,165 square feet of interior space. The layout includes three private offices, a private restroom, reception area, and an open section that can accommodate workstations, collaboration, or conference use. The unit was remodeled as part of the broader improvement of Units 204, 205, and 206, with finishes and construction completed together.
The property is located within Orleans Square, a 40-unit professional office complex occupied by businesses including legal, medical, dental, accounting, real estate, and insurance practices. On-site parking is available at both the front and rear of the building for owners, employees, and visitors. The office is near the Santa Ana Civic Center, restaurants, and shopping centers, with access to the 55 and 5 Freeways. HOA services include water and trash, while available internet options include AT&T Fiber, DSL, and Spectrum Cable. The building was constructed in 1982.
The property is located within Orleans Square, a 40-unit professional office complex occupied by businesses including legal, medical, dental, accounting, real estate, and insurance practices. On-site parking is available at both the front and rear of the building for owners, employees, and visitors. The office is near the Santa Ana Civic Center, restaurants, and shopping centers, with access to the 55 and 5 Freeways. HOA services include water and trash, while available internet options include AT&T Fiber, DSL, and Spectrum Cable. The building was constructed in 1982.
Key Highlights
- 1,165 SF second‑floor office condominium
- Three private offices, reception area, private restroom, and open workspace
- Remodeled as part of improvements completed across Units 204, 205, and 206
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
$18,372
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
4.90%
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%
$367,440
$367.4K
Cap Rate 7%
$262,457
$262.5K
Cap Rate 9%
$204,133
$204.1K
Market Conditions
NOI Build-Up for 1,165 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
$30.1K $25.80/SF
− Vacancy
−$5.6K −$4.77/SF
EGI
$24.5K $21.03/SF
− OpEx
−$6.1K −$5.26/SF
NOI
$18.4K $15.77/SF
Area
ZIP 92705
Vacancy
18.50%
Lease Rate
$25.80 /SF/Yr
Expense Ratio
25.00%
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%
$367,440
Cap Rate 7%
$262,457
Cap Rate 9%
$204,133
Alternative Uses
Best Use
Office B
$262.5K
$229.7K – $306.2K
NOI $18,372 @ 7.0% cap · market cap 4.90%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$350.1K
$306.4K – $408.5K
NOI $24,509 @ 7.0% cap · market cap 6.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,430
Businesses Nearby
Explore this area
Business Placement
Demographics for 92705, CA
45,902
Population
16,642
Households
2.8
Avg Household Size
40
Median Age
46%
College-Educated
87%
High-School Grad
11.8 sq mi
ZIP Area
3,890
Density / Sq Mi
$125,928
Median Household Income
$51,830
Median Earnings
$2,250
Median Rent
$1,135,600
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Professional office condo with private rooms, reception space, restroom, and a flexible open work area.
Where is this office units located?
The property is located at 1913 E 17th Unit 204 Santa Ana, CA.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: 1,165 SF second‑floor office condominium; Three private offices, reception area, private restroom, and open workspace; Remodeled as part of improvements completed across Units 204, 205, and 206
