Turnkey Fourplex with Private
For Sale
$1,850,000
2729 S Baker, Santa Ana, CA 92707
Four renovated two-bedroom townhome-style units each offer a private patio and individual garage, plus a recently installed brand-new roof.
Property Size3,963 SF
Days on Market60
Property Features for 2729 S Baker
General Information
Standard status
Active
Size
3,963 SF
Total Parking Spaces
4
Property subtype
Quadruplex
Additional Details
Highway Access
Yes
Multifamily Units
4
Amenities
private patio
Building Details
Building Size
3,963 SF
Year Built
1961
Tenancy
Multi
Listing Agency:
Sam S. Jozani
Listed By:
Sam Jozani · License #01986562
Source:
Altamirarealty
Added: Jul 8
Changed: Aug 25
Last Checked: Sep 5 at 8:34AM
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 Sam S. Jozani
Investment Insights
Based on property information with market context.
Turnkey fourplex offering four spacious two-bedroom, townhome-style units. The property has a brand-new roof and extensive interior renovations, including luxury vinyl plank flooring, upgraded electrical sub-panels, modern cabinetry and countertops, reglazed tubs, remodeled bathrooms, dual-pane vinyl windows, fresh interior paint, and updated lighting and electrical fixtures. Select units also include brand-new heating systems. Each unit features a private patio and its own garage. A RUBS (Ratio Utility Billing System) has been implemented.
Located at 2729 S Baker in Santa Ana, the property is described as being just minutes from South Coast Plaza, with convenience to world-class shopping, dining, entertainment, and major freeways. The asset is positioned as a low-maintenance investment through its renovations and utility billing setup.
Located at 2729 S Baker in Santa Ana, the property is described as being just minutes from South Coast Plaza, with convenience to world-class shopping, dining, entertainment, and major freeways. The asset is positioned as a low-maintenance investment through its renovations and utility billing setup.
Key Highlights
- Turnkey fourplex with four renovated 2‑bedroom, townhome‑style units
- Recently installed brand‑new roof
- Each unit includes a private patio and its own garage
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
$68,716
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
3.71%
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%
$1,374,320
$1.4M
Cap Rate 7%
$981,657
$981.7K
Cap Rate 9%
$763,511
$763.5K
Market Conditions
NOI Build-Up for 3,963 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
$102.2K $25.80/SF
− Vacancy
−$4.1K −$1.03/SF
EGI
$98.2K $24.77/SF
− OpEx
−$29.4K −$7.43/SF
NOI
$68.7K $17.34/SF
Area
ZIP 92707
Vacancy
3.99%
Lease Rate
$25.80 /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%
$1,374,320
Cap Rate 7%
$981,657
Cap Rate 9%
$763,511
Alternative Uses
Best Use
Multifamily LT 5
$981.7K
$859.0K – $1.15M
NOI $68,716 @ 7.0% cap · market cap 3.71%
Second Best
Apartment 5plus
$905.6K
$792.4K – $1.06M
NOI $63,395 @ 7.0% cap · market cap 3.43%
Theoretical Best
Office A
$1.09M
$950.9K – $1.27M
NOI $76,071 @ 7.0% cap · market cap 4.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,115
Businesses Nearby
Explore this area
Business Placement
Demographics for 92707, CA
56,456
Population
14,767
Households
3.8
Avg Household Size
33
Median Age
17%
College-Educated
65%
High-School Grad
5.2 sq mi
ZIP Area
10,857
Density / Sq Mi
$99,491
Median Household Income
$35,582
Median Earnings
$2,141
Median Rent
$635,600
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 - Four renovated two-bedroom townhome-style units each offer a private patio and individual garage, plus a recently installed brand-new roof.
Where is this quadplex located?
The property is located at 2729 S Baker Santa Ana, CA.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: Turnkey fourplex with four renovated 2‑bedroom, townhome‑style units; Recently installed brand‑new roof; Each unit includes a private patio and its own garage
