Courtesy of Mark Bridge, Broker, Mark Bridge. IDX Contact: 949-474-4004

1004 French Street Santa Ana, CA 92701
$2,020,000
beds
0 baths
sq ft

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David Oronoz

David Oronoz

Principal | Multifamily Investments

DRE# 01838862

Bobby Aschtiani

Bobby Aschtiani

Principal | Multifamily Investments

DRE# 02048373

Chris Pettit

Chris Pettit

Founder

DRE# 01983950

Property Description

1004 French Street is located in the highly coveted French Park neighborhood of Santa Ana, California. The current owner has taken great care of this 7-unit corner-lot apartment property, with 4 of 7 units receiving significant interior renovations in the past 36 months including new flooring, new paint, new kitchens, and new bathrooms. The unit mix consists of seven 1 bedroom / 1 bathroom units, and is located just blocks from Main Street & Civic Center Drive near a multitude of government employers including the OC Sheriff’s Department, OC Department of Child Support Services, and OC Healthcare Agency. Each unit is separately metered for gas and electric with private on-site surface and garage parking available. Santa Ana is in the county seat of Orange County, California and it is the second most populous in the county. The United States Census Bureau estimated its 2019 population at 332,318, making Santa Ana the 57th most populous city in the United States. Santa Ana is in Southern California, adjacent to the Santa Ana River, about 10 miles (16 km) from the coast. Founded in 1869, the city is part of the Greater Los Angeles Area, the second largest metropolitan area in the United States, with almost 18 million residents in 2010. Santa Ana is a very densely populated city, ranking fourth nationally in that regard among cities of over 300,000 residents (trailing only New York City, San Francisco, and Boston). New York Times characterizes Santa Ana as the face of a new California, a state where Latinos have more influence in everyday life — electorally, culturally and demographically — than almost anywhere else in the country. The local apartment market in the city of Santa Ana remains strong, and thus this property offers an investor the ability to capture quality residents seeking a well-located neighborhood with convenient access to a wide variety of retail, transportation and educational amenities.

Property Details & Features

Property Type

  • Residential Income

Year Built

  • 1947

Appliances and Equipment

  • Gas Range

House

  • 2 total stories
  • Built in 1947
  • Stories: 2
  • 3920 total building sqft
  • 1 Common Wall
  • Two

Community

  • Storm Drain(s)
  • Street Lights
  • Suburban
  • Sidewalks

Cooling

  • No cooling

Expenses

  • Electric Expense: $3,084
  • Fuel Expense: $1,044
  • Insurance Expense: $3,900
  • Maintenance Expense: $3,000
  • Operating Expense: $43,561
  • Water Sewer Expense: $3,912

Garage

  • 3 garage spaces

Heating

  • Wall Furnace

Income

  • Gross Income: 118500
  • Gross Scheduled Income: 118500
  • Net Operating Income: 72584

Laundry

  • Common Area

Listing

  • First day on market
  • Listed on 2021-10-11
  • Rent controlled

Location

  • County: Orange

Lot

  • 9148 sqft
  • 0.21 acres
  • Area: 0.21
  • 6-10 Units/Acre

Parking

  • 4 open parking spaces
  • 7 total parking spaces
  • Assigned
  • Garage

Property

  • 2 buildings
  • 7 units
  • Property attached
  • Updated/Remodeled

Sewer

  • Public Sewer

Taxes

  • New Taxes: $24,529

Tenant Pays

  • Electricity
  • Gas
  • Telephone

Utilities

  • 2 separate water meters
  • Cable Connected
  • Electricity Connected
  • Natural Gas Connected
  • Phone Connected
  • Sewer Connected
  • Water Connected

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