833 N Lacy Street, Santa Ana, CA 92701
- Added:
- May 7, 2025
- Days on Market:
- 403
- Last Refresh:
- Jun 13 at 10:06 pm
Property Features for 833 N Lacy Street
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Standard status
- Active
- APN
- 39804201
- Size
- 5,880 SF
Utilities
- Cooling system
- Multi Units, Wall/Window Unit(s), Window Unit(s)
Building Details
- Year built
- 1946
- Architectural style
- Other
Listing agent Albert Ricci License #01011606 (714) 231-6058
Listing office Ricci Realty 606 E Chapman #100, Orange, CA (714) 633-3600
Listing date May 7, 2025
Copyright © 2026 California Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Pair of fourplexes in Santa Ana’s French Park neighborhood: one at 506 Vance St and one at 833 N Lacy
- Both buildings offer 8 one‑bedroom units each with eat‑in kitchen, living room, and full bathroom
- All 16 units have individual access, with 4 ground‑level units and 4 second‑level units per building
- Community/coin‑op washer and dryer building with leased washer/dryer units; coin‑op laundry provided on site
- Seven one‑car garage spaces for tenant use: three facing the alley and four facing Vance St
- 1946 year built; actual rents total $139,392 with potential rents of $191,520
Overview
One building faces 506 Vance St and the other faces 833 N Lacy St. A third building on site houses the community/coin-op washer and dryer, and the washer/dryer units are leased. Garage parking includes seven one-car spaces for tenant use, with three spaces facing the alley toward the north east and four spaces facing Vance St on the north west side. The property is located one block from East Civic Center Drive, in the French Park neighborhood of Santa Ana.
For investors or owner-operators seeking a residential income asset, the unit mix is uniform across both buildings, which can simplify leasing and operations. The listing also notes potential rents of $191,520 compared with actual rents of $139,392, providing a basis for evaluating upside through rent performance and expense management.
Local 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 | $190.5k | $32.40 |
| − Vacancy | −$8.6k | −$1.46 |
| EGI | $181.9k | $30.94 |
| − OpEx | −$54.6k | −$9.28 |
| NOI | $127.4k | $21.66 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Santa Ana
- County
- Orange
- State
- California
- Longitude
- -117.8623828
- Latitude
- 33.7532321
