1416 Spurgeon St Santa Ana, CA 92701
- Apartment buildings
- 10,887 SF
- 0.34 lot acres
Current Use by Public Records
- Apartment buildings
Property Details for 1416 Spurgeon St
- Year built
- 1978
- Lot size
- 0.34 lot acres
- Property size
- 10,887 SF
- Property type
- Apartment buildings
- APN
- 398-133-29
- APU
- 39813329
Description
This exceptional 20-unit apartment building presents a compelling investment opportunity in Santa Ana, California. Built in 1978, this two-story complex boasts a 100% occupancy rate, generating a strong net operating income (NOI) of $214,178 and a 4.70% cap rate. Priced at $4,580,000 ($229,000 per unit), the property offers significant value. The gated community features convenient amenities including garages and covered parking, individually metered gas and electric for each unit, and an on-site laundry room. The unit mix comprises a combination of one-bedroom and studio apartments. Its prime location near an elementary school, shopping, restaurants, and freeways enhances its appeal to tenants. The property benefits from its proximity to the Santa Ana Metro Link Station, the Old Orange County Courthouse, and the Police Department. This well-maintained building presents a rare opportunity for investors seeking a stable, high-performing asset in a desirable location. All information is deemed reliable, but buyers are advised to conduct their own due diligence.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $2,280,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $2,420,000
- 6.5%
- $2,135,000
- 7%
- $2,375,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $2,380,000
- Geo Method
- $2,260,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $2,360,000
- Retail
- $2,705,000
- Mixed-Use
- $2,715,000
- Hospitality
- $2,185,000
- Educational
- $2,065,000
- Residential Income
- $2,055,000
- Energy
- $2,355,000
- Income-Based Land
- $2,265,000
- Food Service
- $2,275,000
Location Insight
- Map
- Local Demand
- City
- Santa Ana
- County
- Orange
- State
- California
- Longitude
- -117.866
- Latitude
- 33.7573
- CBSA code
- 31080
- CBSA name
- LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA
