Santa Ana Multifamily Investment
For Sale
$6,299,850
717 N Garfield Street, Santa Ana, CA 92701
Gated multifamily property in Historic French Park area with upside.
Property Size22,500 SF
Days on Market204
Property Features for 717 N Garfield Street
General Information
Standard status
Active
Size
22,500 SF
Property subtype
Apartment
Building Details
Building Size
22,500 SF
Year Built
1979
Listing Agency:
Alliance Investment RE Group
Listed By:
Ruben Khorsandi · License #01085411
(949) 250-0400
Source:
Stephanieyounggroup
Added: Mar 26
Changed: Oct 10
Last Checked: Oct 12 at 11:44PM
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 Alliance Investment RE Group
Investment Insights
Based on property information with market context.
Located in the Prime Historic French Park area, this gated multifamily property presents a value-add opportunity. The 1979 construction is situated close to an Elementary School, shopping, restaurants, and the freeway, offering convenient access for tenants. The property is also located minutes from Downtown Santa Ana, the Old Orange County Courthouse, the Police Department, and the Santa Ana Metrolink Station. The community is 100% occupied and individually metered for both gas and electric, with tenants responsible for these utilities. The property includes an on-site laundry room and ample parking space, with both garages and covered gated parking available. The property offers huge rental upside.
Key Highlights
- One of the cheapest price per unit properties in Santa Ana.
- Located in the highly desirable Prime Historic French Park area.
- Individually metered for gas and electric (tenant paid).
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$447,193
Cap Rate
7.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$8,943,860
$8.9M
Cap Rate 7%
$6,388,471
$6.4M
Cap Rate 9%
$4,968,811
$5.0M
Market Conditions
NOI Build-Up for 22,500 SF
Gross rent
$850.5K $37.80/SF
− Vacancy
−$37.4K −$1.66/SF
EGI
$813.1K $36.14/SF
− OpEx
−$365.9K −$16.26/SF
NOI
$447.2K $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%
$8,943,860
Cap Rate 7%
$6,388,471
Cap Rate 9%
$4,968,811
Alternative Uses
Best Use
Apartment 5plus
$6.39M
$5.59M – $7.45M
NOI $447,193 @ 7.0% cap · market cap 7.10%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$6.96M
$6.09M – $8.12M
NOI $487,336 @ 7.0% cap · market cap 7.74%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Location Intelligence
Trade Area within ½ mile
4,085
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
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Apartment building - Gated multifamily property in Historic French Park area with upside.
Where is this apartment building located?
The property is located at 717 N Garfield Street Santa Ana, CA.
What is the asking price?
The asking price for this property is $6,299,850.
What are key features of this property?
This property features: One of the cheapest price per unit properties in Santa Ana.; Located in the highly desirable Prime Historic French Park area.; Individually metered for gas and electric (tenant paid).
