Duplex with Two 3BR
For Sale
$1,350,000
2210 E Buffalo, Santa Ana, CA 92705
Duplex includes two 3-bedroom, 2-bath units with garage parking, patios, and upgraded mechanicals.
Property Size2,630 SF
Price / SF$513.31
Days on Market99
Property Features for 2210 E Buffalo
General Information
Standard status
Active
Size
2,630 SF
Property subtype
Apartment
Additional Details
Multifamily Units
2
Amenities
garage parking
back yard area
large patio
air conditioning
laundry hookups
dishwashers
updated flooring
Building Details
Building Size
2,630 SF
Year Built
1976
Year Renovated
2021
Tenancy
Multi
Listing Agency:
Morgan Skenderian
Listed By:
Michael Arp · License #01488586
(714) 262-8992
Source:
Altamirarealty
Added: May 28
Changed: Sep 3
Last Checked: Sep 1 at 12:26AM
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 Morgan Skenderian
Investment Insights
Based on property information with market context.
This duplex apartment building features two large 3-bedroom, 2-bath units. The property is approximately 2,630 square feet and offers tenant amenities that include garage parking, back yard area for the 2210 unit, and a large patio for the 2212 unit. Both units also have air conditioning, laundry hookups, dishwashers, and updated flooring.
The building was completely re-piped in 2016 with a lifetime warranty. In 2021, the kitchen of the 2210 apartment was remodeled, and both HVAC units have been upgraded.
Located in unincorporated Santa Ana within the North Tustin School District, the property is served by Hewes Middle School and Foothill High School.
The building was completely re-piped in 2016 with a lifetime warranty. In 2021, the kitchen of the 2210 apartment was remodeled, and both HVAC units have been upgraded.
Located in unincorporated Santa Ana within the North Tustin School District, the property is served by Hewes Middle School and Foothill High School.
Key Highlights
- 2,630 SF duplex in unincorporated Santa Ana with two large 3‑bedroom, 2‑bath units
- Completely re‑piped in 2016 with a lifetime warranty
- Kitchen in the 2210 unit remodeled in 2021
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
$47,585
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
3.52%
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%
$951,700
$951.7K
Cap Rate 7%
$679,786
$679.8K
Cap Rate 9%
$528,722
$528.7K
Market Conditions
NOI Build-Up for 2,630 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
$71.0K $27.00/SF
− Vacancy
−$3.0K −$1.15/SF
EGI
$68.0K $25.85/SF
− OpEx
−$20.4K −$7.75/SF
NOI
$47.6K $18.09/SF
Area
ZIP 92705
Vacancy
4.27%
Lease Rate
$27.00 /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%
$951,700
Cap Rate 7%
$679,786
Cap Rate 9%
$528,722
Alternative Uses
Best Use
Multifamily LT 5
$679.8K
$594.8K – $793.1K
NOI $47,585 @ 7.0% cap · market cap 3.52%
Second Best
Apartment 5plus
$603.9K
$528.4K – $704.5K
NOI $42,271 @ 7.0% cap · market cap 3.13%
Theoretical Best
Specialty Retail
$790.4K
$691.6K – $922.2K
NOI $55,329 @ 7.0% cap · market cap 4.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,976
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 Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Duplex includes two 3-bedroom, 2-bath units with garage parking, patios, and upgraded mechanicals.
Where is this duplex located?
The property is located at 2210 E Buffalo Santa Ana, CA.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: 2,630 SF duplex in unincorporated Santa Ana with two large 3‑bedroom, 2‑bath units; Completely re‑piped in 2016 with a lifetime warranty; Kitchen in the 2210 unit remodeled in 2021
