1328 Durant StSanta Ana, CA 92706

Property Details for 1328 Durant St

Year built

1979

Property size (Sq ft)

12,506 SF

Property type

Apartment buildings

Description

This exceptional 16-unit apartment building in Santa Ana, CA presents a compelling value-add opportunity. Built in 1979, the property boasts 12,506 square feet on a 10,206 square foot lot and features a three-story building with 16 parking spaces. Currently generating a 5.85% cap rate with a Net Operating Income (NOI) of $187,110, pro forma projections indicate a significant increase to a 9.94% cap rate and a NOI of $317,932. The asking price is $3,200,000, translating to $200,000 per unit and $255.88 per square foot. The property comprises 16 units, averaging approximately 781 square feet each. Recent capital improvements totaling approximately $104,000 have been made, including new windows, exterior paint, decks, railings, and upgraded security access doors and gates. Amenities include community garage parking, patios, balconies, and air conditioning. The property is offered fee simple and is located at 1328 N Durant St, Santa Ana, CA 92706, with APN 398-521-20. This property is ideal for investors seeking strong returns and significant upside potential through value-add strategies. The units are legally configured as studio units with partitions or furniture dividing the bedroom area.

Location Insight

City

Santa Ana

County

Orange

State

California

Latitude

33.7569

Longitude

-117.871

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