Santa Ana Multifamily Investment
For Sale
$1,495,000
502 E Wellington Ave, Santa Ana, CA 92701
Six-unit apartment complex in Santa Ana's French Park.
Property Size5,018 SF
Lot Size0.19 Acres
Days on Market221
Property Features for 502 E Wellington Ave
General Information
Standard status
Active
Size
5,018 SF
Lot size
0.19 Acres
Property subtype
Commercial
Building Details
Building Size
5,018 SF
Year Built
1929
Units
6
Listing Agency:
Ricci Realty
Listed By:
Albert Ricci · License #01011606
(714) 231-6058
Source:
Elliman
Added: Mar 10
Changed: Oct 6
Last Checked: Oct 16 at 10:16AM
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 Ricci Realty
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Located in Santa Ana's French Park neighborhood, this property features a 6-unit apartment complex. The complex consists of two buildings situated on a corner lot. All six units are configured with two bedrooms and one bathroom. The architectural style is Mediterranean, and each of the two-story buildings has wood-frame windows and exterior balconies. Washer and dryer hookups are available in each unit. Two of the units are positioned above two single-car garages, and dedicated surface parking is provided for the remaining four units. The property offers a value-add opportunity with favorable floor plans. The property may qualify for the Mills Act property tax act.
Key Highlights
- Value‑add opportunity with potential to increase rents from $90,024 to $137,700 annually.
- Six 2‑bedroom, 1‑bath units provide a desirable unit mix.
- Located in Santa Ana's French Park.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$99,734
Cap Rate
6.67%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,994,680
$2.0M
Cap Rate 7%
$1,424,771
$1.4M
Cap Rate 9%
$1,108,156
$1.1M
Market Conditions
NOI Build-Up for 5,018 SF
Gross rent
$189.7K $37.80/SF
− Vacancy
−$8.3K −$1.66/SF
EGI
$181.3K $36.14/SF
− OpEx
−$81.6K −$16.26/SF
NOI
$99.7K $19.88/SF
Area
ZIP 92701
Vacancy
4.40%
Lease Rate
$37.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,994,680
Cap Rate 7%
$1,424,771
Cap Rate 9%
$1,108,156
Alternative Uses
Best Use
Apartment 5plus
$1.42M
$1.25M – $1.66M
NOI $99,734 @ 7.0% cap · market cap 6.67%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1.55M
$1.36M – $1.81M
NOI $108,687 @ 7.0% cap · market cap 7.27%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
4,005
Businesses Nearby
Explore this area
Business Placement
Demographics for 92701, CA
48,789
Population
13,470
Households
3.6
Avg Household Size
32
Median Age
11%
College-Educated
62%
High-School Grad
3.2 sq mi
ZIP Area
15,247
Density / Sq Mi
$68,697
Median Household Income
$33,846
Median Earnings
$1,650
Median Rent
$608,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Six-unit apartment complex in Santa Ana's French Park.
Where is this apartment building located?
The property is located at 502 E Wellington Ave Santa Ana, CA.
What is the asking price?
The asking price for this property is $1,495,000.
What are key features of this property?
This property features: Value‑add opportunity with potential to increase rents from $90,024 to $137,700 annually.; Six 2‑bedroom, 1‑bath units provide a desirable unit mix.; Located in Santa Ana's French Park.
