1416 Spurgeon StSanta Ana, CA 92701

Property Details for 1416 Spurgeon St

Year built

1978

Lot size

0.34 AC

Property size (Sq ft)

10,887 SF

Property type

Residential income properties

Property subtype

Other 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.

• CAP approach

  CAP return

  Valuation

  6%

  $2,605,432

  6.5%

  $2,405,015

  7%

  $2,233,228

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,122,116

  Geo Method

  $5,939,441

• Alternative Use

  Use

  Valuation

  Residential

  $2,405,015

  Hospitality

  $2,202,980

  Educational

  $1,832,854

  Medical

  $1,895,889

  Retail

  $2,851,106

Location Insight

City

Santa Ana

County

Orange

State

California

Latitude

33.7573

Longitude

-117.866

CBSA code

31080

CBSA name

LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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