Multifamily Property with Private
For Sale
$1,595,000
Pending
2236 E Franzen, Santa Ana, CA 92705
Fully occupied apartment property with varied floor plans, resident laundry, individual utility metering, and dedicated parking improvements.
Property Size4,213 SF
Days on Market74
Property Features for 2236 E Franzen
General Information
Standard status
Pending
Size
4,213 SF
Total Parking Spaces
6
Property subtype
Apartment
Occupancy
100%
Additional Details
Utilities to Site
Yes
Amenities
on-site laundry facility
private patios and balconies
wall air conditioning
fireplace in the three-bedroom unit
Building Details
Building Size
4,213 SF
Year Built
1969
Listing Agency:
Morgan Skenderian
Listed By:
Rick Applebaum · License #01273871
(949) 251-8800
Source:
Stephanieyounggroup
Added: Aug 12
Changed: Oct 21
Last Checked: Oct 23 at 1:51PM
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
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Investment Insights
Based on property information with market context.
2236 E Franzen is a well-maintained multifamily property in Santa Ana with one-, two-, and three-bedroom apartment homes averaging more than 1,050 square feet per unit. Resident features include private patios and balconies, wall air conditioning, on-site laundry, and a fireplace in the three-bedroom residence. Parking includes four single-car garages and two open spaces, with additional street parking available.
The property is positioned near the Tustin and Orange borders. Electricity and gas are individually metered. Recent improvements include re-plumbing one unit in 2022, rebuilding the balconies, and adding fencing around most private patios. The asset has maintained full occupancy and was built in 1969.
The property is positioned near the Tustin and Orange borders. Electricity and gas are individually metered. Recent improvements include re-plumbing one unit in 2022, rebuilding the balconies, and adding fencing around most private patios. The asset has maintained full occupancy and was built in 1969.
Key Highlights
- One-, two-, and three‑bedroom apartment mix averaging more than 1,050 square feet per unit
- Fully occupied multifamily property in Santa Ana near the Tustin and Orange borders
- Four single‑car garages plus two open parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$67,714
Cap Rate
4.25%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,354,280
$1.4M
Cap Rate 7%
$967,343
$967.3K
Cap Rate 9%
$752,378
$752.4K
Market Conditions
NOI Build-Up for 4,213 SF
Gross rent
$128.9K $30.60/SF
− Vacancy
−$5.8K −$1.38/SF
EGI
$123.1K $29.22/SF
− OpEx
−$55.4K −$13.15/SF
NOI
$67.7K $16.07/SF
Area
ZIP 92705
Vacancy
4.50%
Lease Rate
$30.60 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,354,280
Cap Rate 7%
$967,343
Cap Rate 9%
$752,378
Alternative Uses
Best Use
Apartment 5plus
$967.3K
$846.4K – $1.13M
NOI $67,714 @ 7.0% cap · market cap 4.25%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.27M
$1.11M – $1.48M
NOI $88,631 @ 7.0% cap · market cap 5.56%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Lease Details
100%
Occupancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
916
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Multifamily property - Fully occupied apartment property with varied floor plans, resident laundry, individual utility metering, and dedicated parking improvements.
Where is this multifamily property located?
The property is located at 2236 E Franzen Santa Ana, CA.
What is the asking price?
The asking price for this property is $1,595,000.
What are key features of this property?
This property features: One-, two-, and three‑bedroom apartment mix averaging more than 1,050 square feet per unit; Fully occupied multifamily property in Santa Ana near the Tustin and Orange borders; Four single‑car garages plus two open parking spaces
