Refreshed
For Sale
$1,499,000
2318 Franzen, Santa Ana, CA 92705
Unit mix includes three-bedroom, two-bedroom, and one-bedroom layouts.
Days on Market55
Property Features for 2318 Franzen
General Information
Standard status
Active
Property subtype
Quadruplex
Building Details
Building Size
4,180 SF
Year Built
1969
Tenancy
Multi
Listing Agency:
SR White and Associates
Listed By:
Steven White · License #01925218
Source:
Altamirarealty
Added: Jun 10
Changed: Jul 31
Last Checked: Aug 2 at 12:11PM
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 SR White and Associates
Investment Insights
Based on property information with market context.
This Santa Ana quadplex, built in 1969, includes one three-bedroom, two-bath unit, two two-bedroom, two-bath units, and one spacious one-bedroom, one-bath unit. The three-bedroom unit was recently vacated and fully refreshed with a new kitchen, updated bathrooms, mirrored wardrobe closets, a new sliding door, and new flooring throughout.
Additional improvements include new dual pane vinyl windows throughout and a recently painted exterior. The property is located at 2318 Franzen in Santa Ana, California. Units are to be toured with an accepted offer, and tenants should not be disturbed.
Additional improvements include new dual pane vinyl windows throughout and a recently painted exterior. The property is located at 2318 Franzen in Santa Ana, California. Units are to be toured with an accepted offer, and tenants should not be disturbed.
Key Highlights
- Four‑unit property with one 3‑bedroom, 2‑bath unit, two 2‑bedroom, 2‑bath units, and one 1‑bedroom, 1‑bath unit
- Recently vacated 3‑bedroom unit fully refreshed
- New kitchen, updated bathrooms, mirrored wardrobe closets, new sliding door, and new flooring in 3‑bedroom unit
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $112.9k | $27.00 |
| − Vacancy | −$4.8k | −$1.15 |
| EGI | $108.0k | $25.85 |
| − OpEx | −$32.4k | −$7.75 |
| NOI | $75.6k | $18.09 |
4,180 SF · lease $27.00/SF/yr · vacancy 4.27% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.08M
$945.4K – $1.26M
NOI $75,629 @ 7.0% cap · market cap 5.05%
Second Best
Apartment 5plus
$959.8K
$839.8K – $1.12M
NOI $67,184 @ 7.0% cap · market cap 4.48%
Theoretical Best
Specialty Retail
$1.26M
$1.10M – $1.47M
NOI $87,937 @ 7.0% cap · market cap 5.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
916
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?
Quadplex - Unit mix includes three-bedroom, two-bedroom, and one-bedroom layouts.
Where is this quadplex located?
The property is located at 2318 Franzen Santa Ana, CA.
What is the asking price?
The asking price for this property is $1,499,000.
What are key features of this property?
This property features: Four‑unit property with one 3‑bedroom, 2‑bath unit, two 2‑bedroom, 2‑bath units, and one 1‑bedroom, 1‑bath unit; Recently vacated 3‑bedroom unit fully refreshed; New kitchen, updated bathrooms, mirrored wardrobe closets, new sliding door, and new flooring in 3‑bedroom unit
