Five-Bedroom
For Sale
$1,270,000
2229 Ponderosa, Santa Ana, CA 92705
Santa Ana, CA
Property Size2,280 SF
Lot Size0.14 Acres
Price / SF$557.02
Days on Market121
Property Features for 2229 Ponderosa
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
5
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 5, Laundry Room, Bedroom 4, Bathroom 3, Bathroom 4, Bedroom 1, Bedroom 2, Bedroom 3, Bathroom 1, Bathroom 2
Parking
3
Parking features
Driveway, Assigned
Fireplace
1
Appliances
Electric Range, Electric Oven
Subdivision
Other (OTHR)
Lot features
2-5 Units/ Acre
Directions
From E Santa Clara ave, west side of 55 Frwy, south corner lot of N.Ponderosa st.
Standard status
Active
APN
39628148
Lot size
0.14 Acres
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1976
Floors in Building
2
Number of units
2
Roof type
Shingle
Listing Agency:
eXp Realty of California Inc
(888) 584-9427
Listed By:
David Lee · License #01320447
(949) 310-7773
Added: May 2
Changed: Aug 29
Last Checked: Aug 30 at 5:06AM
MLS# OC26097142
Copyright © 2026 California Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This duplex contains approximately 2,280 square feet of living space on a 0.14-acre lot. Built in 1976, the residence includes five bedrooms, four bathrooms, a laundry room, central heating, central air conditioning, electric range and oven, and a fireplace. Driveway and assigned parking are provided, with a shingle roof and public water and sewer service.
The property is located at 2229 Ponderosa in Santa Ana, California 92705. R-2 zoning supports duplex use and small multifamily applications. The surrounding area includes single-family and multifamily residences, with shopping, dining, and everyday services along 17th Street and Tustin Avenue. Access to the 55 and 22 freeways connects the property with Orange County employment centers and surrounding communities.
The property is located at 2229 Ponderosa in Santa Ana, California 92705. R-2 zoning supports duplex use and small multifamily applications. The surrounding area includes single-family and multifamily residences, with shopping, dining, and everyday services along 17th Street and Tustin Avenue. Access to the 55 and 22 freeways connects the property with Orange County employment centers and surrounding communities.
Key Highlights
- Approximately 2,280 square feet of living space on a 0.14‑acre lot
- Five bedrooms and four bathrooms, plus a laundry room
- R‑2 zoning supports duplex and small multifamily use
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
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Frequently Asked Questions
What type of property is this?
Duplex - R-2 zoning, central climate control, assigned parking, and public utilities support the property’s residential income use.
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 on a 0.14‑acre lot; Five bedrooms and four bathrooms, plus a laundry room; R‑2 zoning supports duplex and small multifamily use
