Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1502 Van Ness Ave Santa Ana, CA 92706-3862

    • Apartment buildings
    • 14,122 SF
    • 0.50 lot acres
    OFF-MARKET
    Value Estimations
    $390,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-2581583
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Apartment buildings

    Property Details for 1502 Van Ness Ave

    Year built
    1948
    Lot size
    0.50 lot acres
    Property size
    14,122 SF
    Property type
    Apartment buildings
    APN
    005-111-17
    APU
    511117

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $305,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $470,000
      Market price range: $470k - $1.16M

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Santa Ana
    County
    Orange
    State
    California
    Longitude
    -117.874
    Latitude
    33.7582
    CBSA code
    31080
    CBSA name
    LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $8,659
    $111,826
    $237,492
    $349,318
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $730,000
      37,400 SF

      1401 Ross St

      APARTMENT HOUSE (5+ UNITS) • 37,400 SF
      1401 Ross St, Santa Ana, CA 92706-4082
      View Details
    • Value Estimation
      $915,000
      3,314 SF

      1724 Spurgeon St

      APARTMENT HOUSE (5+ UNITS) • 3,314 SF
      1724 Spurgeon St, Santa Ana, CA 92706-4100
      View Details
    • Value Estimation
      $300,000
      5,901 SF

      1518 Durant St

      APARTMENT HOUSE (5+ UNITS) • 5,901 SF
      1518 Durant St, Santa Ana, CA 92706-3853
      View Details
    • Value Estimation
      $390,000
      10,143 SF

      1901 Spurgeon St

      APARTMENT HOUSE (5+ UNITS) • 10,143 SF
      1901 Spurgeon St, Santa Ana, CA 92706-2835
      View Details
    • Value Estimation
      $310,000
      3,457 SF

      2033 Bush St

      APARTMENT HOUSE (5+ UNITS) • 3,457 SF
      2033 Bush St, Santa Ana, CA 92706-2829
      View Details
    • Value Estimation by Request
      12,506 SF

      1328 Durant St

      Multifamily properties • 12,506 SF
      1328 Durant St, Santa Ana, CA 92706
      View Details

    Similar Nearby for Sale

    • $1,798,000
      3,342 SF

      Updated Santa Ana Multifamily Opportunity

      Five-unit multifamily property with recent updates and desirable amenities.
      1519 N Ross St, Santa Ana, CA 92706
      View Details
    • $850,000

      Santa Ana Duplex For Sale

      Duplex in prime location, each unit is 2 bed/1 bath.
      2128 N Bristol St, Santa Ana, CA 92706
      View Details
    • $2,150,000
      1 SF

      New Santa Ana Fourplex

      Modern four-unit property in Santa Ana, built in 2024.
      1423 Mar Les 1423, Santa Ana, CA 92706
      View Details
    • $2,150,000

      New Modern Santa Ana Fourplex

      Newly built fourplex in Santa Ana with modern amenities.
      1423 Mar Les, Santa Ana, CA 92706
      View Details
    • $549,999
      775 SF

      Charming Condo in Central Orange

      Updated 2 bed, 2 bath condo with private patios.
      2608 Monte Carlo Dr, Santa Ana, CA 92706
      View Details
    • $1,050,000

      Santa Ana Commercial Lot For Sale

      Commercial lot with paved parking and lights in Santa Ana.
      2410 W 17Th St, Santa Ana, CA 92706
      View Details

    Similar Nearby for Lease

    • $2,299 /Mo

      Refreshed Apartment in Historic Floral

      One bedroom apartment with upgrades in Santa Ana, CA.
      1801 Greenleaf St, Santa Ana, CA 92706
      View Details
    • Contact for pricing
      6,000 SF

      Santa Ana Retail Space For Lease

      Prime 6,000 SF Retail Church Space
      555 Memory Ln, Santa Ana, CA 92706
      View Details
    • $2 SF/Yr
      5,526 SF

      Floral Park Promenade Retail Space

      Prime Orange County retail space available.
      2705-2729 Bristol St, Santa Ana, CA 92706
      View Details
    • $2 SF/Yr
      12,918 SF

      Retail/Restaurant Space For Lease

      Retail or restaurant space with excellent parking in Santa Ana.
      501-515 W 17Th St, Santa Ana, CA 92706
      View Details
    • $3 SF/Yr
      71 SF

      Retail Space with Anchor Tenants

      Retail space with Planet Fitness and Dollar Tree as anchors.
      2705-2729 N Bristol St, Santa Ana, CA 92706
      View Details
    • Contact for pricing
      6,719 SF

      Freestanding Office Building For Rent

      Freestanding office building on a large lot available for rent.
      1327 N Broadway, Santa Ana, CA 92706
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1502 Van Ness Ave
    Santa Ana, CA 92706-3862
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.