Santa Ana Multifamily Investment
For Sale
$1,995,000
910 S Townsend Santa, Santa Ana, CA 92704
Well-maintained 8-unit property in a high-demand Santa Ana location.
Property Size5,854 SF
Days on Market193
Property Features for 910 S Townsend Santa
General Information
Standard status
Active
Size
5,854 SF
Property subtype
Apartment
Amenities
Composition
Building Details
Building Size
5,854 SF
Year Built
1961
Stories
2
Listing Agency:
Keller Williams Realty
(714) 524-2423
Listed By:
Chad Langseth · License #00993554
(714) 524-2423
Source:
Kw
Added: Feb 20
Changed: Aug 31
Last Checked: Aug 31 at 1:25AM
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 Keller Williams Realty
Investment Insights
Based on property information with market context.
This well-maintained property in Santa Ana features 8 units, with a mix of 1 and 2 bedrooms. All units are currently occupied by long-term tenants. The property has a 2-level walk-up courtyard design and includes a community laundry facility. There are 9 parking spaces available. The property is located in a bustling area near the 55, 405, and 5 freeways, South Coast Plaza, Southern California beaches, UC Irvine, and Chapman University. This location ensures a high demand for rentals, offering a strong base and ownership opportunity in Southern California's real estate market.
Key Highlights
- 8 Units: A mix of 1 and 2 bedroom units offering diverse rental options.
- Fully Occupied: Ensuring immediate rental income with long‑term tenants.
- Prime Location: Conveniently located near the 55, 405, and 5 freeways, South Coast Plaza, beaches, UC Irvine, and Chapman University.
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
$90,873
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
4.56%
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%
$1,817,460
$1.8M
Cap Rate 7%
$1,298,186
$1.3M
Cap Rate 9%
$1,009,700
$1.0M
Market Conditions
NOI Build-Up for 5,854 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
$172.1K $29.40/SF
− Vacancy
−$6.9K −$1.18/SF
EGI
$165.2K $28.22/SF
− OpEx
−$74.4K −$12.70/SF
NOI
$90.9K $15.52/SF
Area
ZIP 92704
Vacancy
4.00%
Lease Rate
$29.40 /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%
$1,817,460
Cap Rate 7%
$1,298,186
Cap Rate 9%
$1,009,700
Alternative Uses
Best Use
Apartment 5plus
$1.30M
$1.14M – $1.51M
NOI $90,873 @ 7.0% cap · market cap 4.56%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.74M
$1.52M – $2.03M
NOI $121,793 @ 7.0% cap · market cap 6.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
854
Businesses Nearby
Explore this area
Business Placement
Demographics for 92704, CA
82,841
Population
20,887
Households
4
Avg Household Size
35
Median Age
20%
College-Educated
68%
High-School Grad
7.4 sq mi
ZIP Area
11,195
Density / Sq Mi
$94,249
Median Household Income
$37,925
Median Earnings
$2,147
Median Rent
$641,600
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?
Apartment building - Well-maintained 8-unit property in a high-demand Santa Ana location.
Where is this apartment building located?
The property is located at 910 S Townsend Santa Santa Ana, CA.
What is the asking price?
The asking price for this property is $1,995,000.
What are key features of this property?
This property features: 8 Units: A mix of 1 and 2 bedroom units offering diverse rental options.; Fully Occupied: Ensuring immediate rental income with long‑term tenants.; Prime Location: Conveniently located near the 55, 405, and 5 freeways, South Coast Plaza, beaches, UC Irvine, and Chapman University.
