6-Unit Apartment
For Sale
$1,650,000
2001 W Myrtle, Santa Ana, CA 92703
Occupied multifamily property with remodeled kitchens, updated bathrooms, and replacement water heaters.
Property Size4,500 SF
Days on Market28
Property Features for 2001 W Myrtle
General Information
Standard status
Active
Size
4,500 SF
Property subtype
Mixed Use
Occupancy
100%
Units
Unit Mix
6 x 2BR/1BA
Multifamily Units
6
Additional Details
Gross Income
$156,600
Highway Access
Yes
Building Details
Building Size
4,500 SF
Year Built
1957
Buildings
1
Listing Agency:
WeTrust Realty
(909) 606-0888
Listed By:
Ya Ting Chan · License #01872450
Source:
Altamirarealty
Added: Aug 3
Changed: Aug 29
Last Checked: Aug 14 at 11:21AM
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 WeTrust Realty
Investment Insights
Based on property information with market context.
This 6-unit apartment building, constructed in 1957, includes six residences configured with two bedrooms and one bathroom each. Property improvements include three remodeled bathrooms, two renovated kitchens, and new water heaters. The building is described as well maintained, with all units occupied and long-term tenants in place.
Located at 2001 W Myrtle in Santa Ana, the property is near shopping, dining, schools, and major freeways. Its apartment configuration and existing occupancy provide a straightforward multifamily asset with established residential use.
Located at 2001 W Myrtle in Santa Ana, the property is near shopping, dining, schools, and major freeways. Its apartment configuration and existing occupancy provide a straightforward multifamily asset with established residential use.
Key Highlights
- Six apartment units, each with 2 bedrooms and 1 bathroom
- 100% occupancy with long‑term tenants
- 3 remodeled bathrooms and 2 remodeled kitchens
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
$75,478
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
4.57%
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%
$1,509,560
$1.5M
Cap Rate 7%
$1,078,257
$1.1M
Cap Rate 9%
$838,644
$838.6K
Market Conditions
NOI Build-Up for 4,500 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
$143.1K $31.80/SF
− Vacancy
−$5.9K −$1.30/SF
EGI
$137.2K $30.50/SF
− OpEx
−$61.8K −$13.72/SF
NOI
$75.5K $16.77/SF
Area
ZIP 92703
Vacancy
4.10%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
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%
$1,509,560
Cap Rate 7%
$1,078,257
Cap Rate 9%
$838,644
Alternative Uses
Best Use
Apartment 5plus
$1.08M
$943.5K – $1.26M
NOI $75,478 @ 7.0% cap · market cap 4.57%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.30M
$1.14M – $1.52M
NOI $91,171 @ 7.0% cap · market cap 5.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,050
Businesses Nearby
Explore this area
Business Placement
Demographics for 92703, CA
65,621
Population
14,644
Households
4.5
Avg Household Size
34
Median Age
13%
College-Educated
60%
High-School Grad
4.2 sq mi
ZIP Area
15,624
Density / Sq Mi
$80,817
Median Household Income
$33,363
Median Earnings
$1,922
Median Rent
$585,900
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?
Apartment building - Occupied multifamily property with remodeled kitchens, updated bathrooms, and replacement water heaters.
Where is this apartment building located?
The property is located at 2001 W Myrtle Santa Ana, CA.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: Six apartment units, each with 2 bedrooms and 1 bathroom; 100% occupancy with long‑term tenants; 3 remodeled bathrooms and 2 remodeled kitchens
