Santa Ana Multifamily Investment
For Sale
$1,645,000
925 N Lacy St, Santa Ana, CA 92701
Multifamily property in Santa Ana's French Park neighborhood.
Property Size5,490 SF
Price / SF$299.64
Days on Market224
Property Features for 925 N Lacy St
General Information
Standard status
Active
Size
5,490 SF
Building Details
Year Built
1930
Listing Agency:
Ricci Realty
Listed By:
Albert Ricci · License #01011606
(714) 231-6058
Source:
Myfabuloushome
Added: Mar 10
Changed: Oct 11
Last Checked: Oct 7 at 4:23PM
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 Ricci Realty
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Investment Insights
Based on property information with market context.
This multifamily property is located in the French Park neighborhood of Santa Ana. It features 8 units, each with 1 bedroom and 1 bathroom. The property presents a value-add opportunity. The property may qualify for the Mills Act property tax act; interested parties should check with the city. The gross potential rents are $191,520, based on 8 units at $1995. Actual rents are $112,272 from long-term tenants.
Key Highlights
- Value‑add opportunity: increase rents from $112,272 to a potential gross of $191,520.
- Located in the desirable French Park neighborhood of Santa Ana.
- Eight 1‑bedroom, 1‑bath units offer a straightforward rental configuration.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$109,115
Cap Rate
6.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,182,300
$2.2M
Cap Rate 7%
$1,558,786
$1.6M
Cap Rate 9%
$1,212,389
$1.2M
Market Conditions
NOI Build-Up for 5,490 SF
Gross rent
$207.5K $37.80/SF
− Vacancy
−$9.1K −$1.66/SF
EGI
$198.4K $36.14/SF
− OpEx
−$89.3K −$16.26/SF
NOI
$109.1K $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%
$2,182,300
Cap Rate 7%
$1,558,786
Cap Rate 9%
$1,212,389
Alternative Uses
Best Use
Apartment 5plus
$1.56M
$1.36M – $1.82M
NOI $109,115 @ 7.0% cap · market cap 6.63%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1.70M
$1.49M – $1.98M
NOI $118,910 @ 7.0% cap · market cap 7.23%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Location Intelligence
Trade Area within ½ mile
4,005
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
Frequently Asked Questions
What type of property is this?
Apartment building - Multifamily property in Santa Ana's French Park neighborhood.
Where is this apartment building located?
The property is located at 925 N Lacy St Santa Ana, CA.
What is the asking price?
The asking price for this property is $1,645,000.
What are key features of this property?
This property features: Value‑add opportunity: increase rents from $112,272 to a potential gross of $191,520.; Located in the desirable French Park neighborhood of Santa Ana.; Eight 1‑bedroom, 1‑bath units offer a straightforward rental configuration.
