Two-Bedroom Residential Income
For Sale
$209,900
67-2767 W 1st Street, Santa Ana, CA 92703
Updated interior package includes stainless steel appliances, solid surface counters, and shaker-style cabinetry.
Property Size987 SF
Price / SF$212.66
Days on Market9
Property Features for 67-2767 W 1st Street
General Information
Standard status
Active
Size
987 SF
Property subtype
Manufactured In Park
Building Details
Year Built
2021
Listing Agency:
Cirillo, Michael A.
(714) 720-4098
Listed By:
Michael Cirillo · License #00784825
(714) 720-4098
Source:
Exprealty
Added: Jul 30
Changed: Aug 6
Last Checked: Aug 7 at 10:38AM
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 Cirillo, Michael A.
Investment Insights
Based on property information with market context.
The 2021 Skyline Amber Cove at 67-2767 W 1st Street is a 987-square-foot residential income property with 2 bedrooms and 2 bathrooms. Interior improvements include stainless steel appliances, solid surface countertops, hardwood shaker-style cabinetry, a Lazy Susan, and a closet-style pantry. Both bathrooms feature tub/showers, solid surface countertops, and undermount sinks.
Additional features include 9-foot flat ceilings, ceiling fans, recessed lighting, LED canned lighting throughout, and vinyl dual-pane Low-E windows. The home is also plumbed for a stackable washer/dryer combination.
Additional features include 9-foot flat ceilings, ceiling fans, recessed lighting, LED canned lighting throughout, and vinyl dual-pane Low-E windows. The home is also plumbed for a stackable washer/dryer combination.
Key Highlights
- 2021 Skyline Amber Cove with 987 SF of living area
- 2 bedrooms and 2 bathrooms
- Upgraded kitchen with stainless steel appliances and solid surface countertops
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
$16,555
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
7.89%
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%
$331,100
$331.1K
Cap Rate 7%
$236,500
$236.5K
Cap Rate 9%
$183,944
$183.9K
Market Conditions
NOI Build-Up for 987 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
$31.4K $31.80/SF
− Vacancy
−$1.3K −$1.30/SF
EGI
$30.1K $30.50/SF
− OpEx
−$13.5K −$13.72/SF
NOI
$16.6K $16.77/SF
Area
ZIP 92703
Vacancy
4.10%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
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%
$331,100
Cap Rate 7%
$236,500
Cap Rate 9%
$183,944
Alternative Uses
Best Use
Apartment 5plus
$236.5K
$206.9K – $275.9K
NOI $16,555 @ 7.0% cap · market cap 7.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$285.7K
$250.0K – $333.3K
NOI $19,997 @ 7.0% cap · market cap 9.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
772
Businesses Nearby
Explore this area
Business Placement
Demographics for 92703, CA
65,621
Population
14,644
Households
4.5
Avg Household Size
34
Median Age
13%
College-Educated
60%
High-School Grad
4.2 sq mi
ZIP Area
15,624
Density / Sq Mi
$80,817
Median Household Income
$33,363
Median Earnings
$1,922
Median Rent
$585,900
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Updated interior package includes stainless steel appliances, solid surface counters, and shaker-style cabinetry.
Where is this residential income property located?
The property is located at 67-2767 W 1st Street Santa Ana, CA.
What is the asking price?
The asking price for this property is $209,900.
What are key features of this property?
This property features: 2021 Skyline Amber Cove with 987 SF of living area; 2 bedrooms and 2 bathrooms; Upgraded kitchen with stainless steel appliances and solid surface countertops
