Renovated Four-Unit Apartment
For Sale
$1,275,000
626 E 3rd, Santa Ana, CA 92701
Updated one-bedroom residences near Downtown Santa Ana with access to public transportation and major freeways.
Lot Size0.14 Acres
Days on Market67
Property Features for 626 E 3rd
General Information
Standard status
Active
Lot size
0.14 Acres
Property subtype
Quadruplex
Zoning
SD-84
Additional Details
Highway Access
Yes
Building Details
Building Size
1,740 SF
Year Built
1920
Tenancy
Multi
Listing Agency:
Greysteel California, Inc.
(949) 307-9469
Listed By:
Christian Espinoza · License #02062988
Source:
Stephanieyounggroup
Added: May 28
Changed: Jul 31
Last Checked: Aug 1 at 10:49AM
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 Greysteel California, Inc.
Investment Insights
Based on property information with market context.
This four-unit apartment property at 626 E. 3rd St. in Santa Ana includes four fully updated one-bedroom, one-bathroom residences. Interior and exterior improvements include new appliances, flooring, kitchens, bathrooms, doors, double-pane windows, paint, and A/C units, with work completed to code. The property was built in 1920 and occupies an approximately 6,141 SF lot.
All units are currently achieving market rents, with two units having recently received rental increases. Future annual increases are subject to the City of Santa Ana rent control guidelines. The property is zoned SD-84, which may allow additional units to be added, subject to verification with the City of Santa Ana. It is within walking distance of Downtown Santa Ana amenities and benefits from nearby Amtrak and Metrolink stations, along with access to the 5, 55, and 22 freeways.
All units are currently achieving market rents, with two units having recently received rental increases. Future annual increases are subject to the City of Santa Ana rent control guidelines. The property is zoned SD-84, which may allow additional units to be added, subject to verification with the City of Santa Ana. It is within walking distance of Downtown Santa Ana amenities and benefits from nearby Amtrak and Metrolink stations, along with access to the 5, 55, and 22 freeways.
Key Highlights
- Four fully updated one‑bedroom, one‑bathroom units
- Approximately 6,141 SF lot zoned SD‑84
- Renovations include appliances, flooring, kitchens, bathrooms, doors, windows, paint, and A/C units
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 | $56.4k | $32.40 |
| − Vacancy | −$2.5k | −$1.46 |
| EGI | $53.8k | $30.94 |
| − OpEx | −$16.2k | −$9.28 |
| NOI | $37.7k | $21.66 |
1,740 SF · lease $32.40/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$538.4K
$471.1K – $628.1K
NOI $37,687 @ 7.0% cap · market cap 2.96%
Second Best
Apartment 5plus
$494.0K
$432.3K – $576.4K
NOI $34,583 @ 7.0% cap · market cap 2.71%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,718
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
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 - Updated one-bedroom residences near Downtown Santa Ana with access to public transportation and major freeways.
Where is this quadplex located?
The property is located at 626 E 3rd Santa Ana, CA.
What is the asking price?
The asking price for this property is $1,275,000.
What are key features of this property?
This property features: Four fully updated one‑bedroom, one‑bathroom units; Approximately 6,141 SF lot zoned SD‑84; Renovations include appliances, flooring, kitchens, bathrooms, doors, windows, paint, and A/C units
