924 S Broadway, Santa Ana, CA 92701
- $829,000
- List Price
- $829,000
- Status
- PENDING
- MLS#
- IV26142843
- Year Built
- 1940
- Lot Size
- 6,970
- Acres
- 0.16
- Lot Location
- Front Yard, Rectangular Lot
- Days on Market
- 10
- Property Type
- Multifamily
- Property Sub Type
- Duplex
- Neighborhood
- Unknown
Property Description
One of those investment opportunities in Santa Ana that has multiple ways to create value. Located in an area with strong rental demand and low vacancy, this property sits on a large, usable 7,000 sq. ft. lot with plenty of room to grow. The property consists of three units: 2-bedroom 1-bath unit, a 1-bedroom 1-bath unit, and a move-in-ready studio above the rear garage. Continue collecting income from the occupied 2-bedroom unit while renovating the front 1-bedroom unit and maximizing the studio's rental potential to achieve top market rents. This flexible setup makes it an excellent opportunity for an owner-occupant looking to offset their mortgage with rental income or an investor seeking to maximize cash flow at market rates. The real story here is the upside. The property includes two separate garage structures that may offer future ADU conversion potential (buyer to verify), giving buyers the opportunity to add additional units and increase income over time. With some improvements, the property has the potential to bring in approximately $6,200 per month in gross rental income. Large lots, multiple units, ample parking, and future development potential are getting harder to find in Santa Ana. Whether you're looking to expand your portfolio, complete a 1031 exchange, or live in one unit while collecting rent from two additional units, this property offers flexibility with room to improve and grow.
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Additional Information
- Appliances
- Gas Range, Water Heater
- Pool Description
- None
- Heat
- Floor Furnace
- Cooling Description
- None
- Garage Spaces Total
- 8
- Sewer
- Public Sewer
- Water
- Public
- Interior Features
- Attic, Bedroom on Main Level
- Attached Structure
- Attached
- Number Of Units Total
- 3
- Gross Scheduled Income
- $21,600
- Operating Expense
- 4700
Listing courtesy of Listing Agent: OMAR ANSARI (pactrustre@gmail.com) from Listing Office: eXp Realty of Greater Los Angeles.
Mortgage Calculator
Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.