717 Garfield St Santa Ana, CA 92701
- Apartment buildings
- 22,500 SF
- 0.52 lot acres
Current Use by Public Records
- Apartment buildings
Property Details for 717 Garfield St
- Year built
- 1979
- Lot size
- 0.52 lot acres
- Property size
- 22,500 SF
- Property type
- Apartment buildings
- APN
- 398-303-02
- APU
- 39830302
Description
This exceptional 30-unit apartment building presents a compelling investment opportunity in Santa Ana, California. Located at 717 N Garfield St, 92701, this two-story, 1979-constructed property boasts a 100% occupancy rate, generating a substantial net operating income (NOI) of $306,601 and a 4.52% cap rate. The asking price is $6,870,000, translating to an attractive price per unit of $229,000. The property features a gated community with both garages and covered parking, providing ample parking for residents. Each unit is individually metered for gas and electric, with tenants responsible for utility costs. Further enhancing its appeal, the property includes an on-site laundry room. Its convenient location offers proximity to an elementary school, shopping, restaurants, and freeways, making it highly attractive to tenants. This well-maintained property presents a strong value-add opportunity with significant potential for rental income growth. The property is not subject to a ground lease. All information should be verified independently by the buyer.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $3,420,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $3,110,000
- 6.5%
- $3,010,000
- 7%
- $3,250,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $3,760,000
- Geo Method
- $3,230,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $3,415,000
- Retail
- $3,905,000
- Mixed-Use
- $3,045,000
- Hospitality
- $3,400,000
- Educational
- $3,875,000
- Residential Income
- $3,065,000
- Energy
- $3,755,000
- Income-Based Land
- $4,140,000
- Food Service
- $3,260,000
Location Insight
- Map
- Local Demand
- City
- Santa Ana
- County
- Orange
- State
- California
- Longitude
- -117.86
- Latitude
- 33.7522
- CBSA code
- 31080
- CBSA name
- LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA
