Residential
For Sale
Contact for pricing
2229 Ponderosa, Santa Ana, CA 92705
Two-unit residential property near shopping, dining, daily conveniences, and major freeway connections.
Property Size2,280 SF
Price / SF$557.02
Days on Market121
Property Features for 2229 Ponderosa
General Information
Standard status
Active
Size
2,280 SF
Property subtype
Multifamily
Zoning
Assessor
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Multifamily Units
2
Building Details
Buildings
2
Units
2
Listing Agency:
J1 Realty Group
Listed By:
David Lee · License #01320447
Source:
Crexi
Added: May 2
Changed: Aug 29
Last Checked: Aug 29 at 4:00PM
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 J1 Realty Group
Investment Insights
Based on property information with market context.
This residential duplex at 2229 Ponderosa provides approximately 2,280 square feet of living space in a property built during the 1970s. The asset is positioned on a quiet residential street and is surrounded by a combination of single-family homes and other multifamily residences. It is suited to both owner-occupancy and rental use based on the stated property configuration.
The Santa Ana location places the property near shopping, dining, and everyday services along 17th Street and Tustin Avenue. Regional commuting is supported by access to the 55 and 22 freeways, with Irvine, Costa Mesa, and Anaheim identified as nearby employment hubs. The property information also notes potential to improve rental income through interior updates and operational changes.
The Santa Ana location places the property near shopping, dining, and everyday services along 17th Street and Tustin Avenue. Regional commuting is supported by access to the 55 and 22 freeways, with Irvine, Costa Mesa, and Anaheim identified as nearby employment hubs. The property information also notes potential to improve rental income through interior updates and operational changes.
Key Highlights
- Approximately 2,280 square feet of living space
- Duplex configuration suited to owner‑users or rental operations
- Built in the 1970s
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
$41,252
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
3.25%
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%
$825,040
$825.0K
Cap Rate 7%
$589,314
$589.3K
Cap Rate 9%
$458,356
$458.4K
Market Conditions
NOI Build-Up for 2,280 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
$61.6K $27.00/SF
− Vacancy
−$2.6K −$1.15/SF
EGI
$58.9K $25.85/SF
− OpEx
−$17.7K −$7.75/SF
NOI
$41.3K $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%
$825,040
Cap Rate 7%
$589,314
Cap Rate 9%
$458,356
Alternative Uses
Best Use
Multifamily LT 5
$589.3K
$515.7K – $687.5K
NOI $41,252 @ 7.0% cap · market cap 3.25%
Second Best
Apartment 5plus
$523.5K
$458.1K – $610.8K
NOI $36,646 @ 7.0% cap · market cap 2.89%
Theoretical Best
Specialty Retail
$685.2K
$599.6K – $799.4K
NOI $47,966 @ 7.0% cap · market cap 3.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential property near shopping, dining, daily conveniences, and major freeway connections.
Where is this duplex located?
The property is located at 2229 Ponderosa Santa Ana, CA.
What is the asking price?
The asking price for this property is $1,270,000.
What are key features of this property?
This property features: Approximately 2,280 square feet of living space; Duplex configuration suited to owner‑users or rental operations; Built in the 1970s
