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Listed by Krikor Garabedian • Keller Williams R. E. Services
$ 2,395,000
Est. payment | /mo
8,800 SqFt
$ 2,395,000
Est. payment | /mo
8,800 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 8,800 sqft
Price per Sqft $272
MLS Listing ID CRGD25176671
HOA Y/N No
Year Built 1987
Lot Size 9,148 Sqft
Property Sub-Type Other
Source Datashare California Regional
Property Description
1810 S Broadway presents a rare opportunity to acquire a well-located, value-driven 8-unit apartment building in the heart of Santa Ana. Built in 1987 and offered at just $272 per square foot, this asset delivers immediate income and long-term upside in one of Orange County’s most dynamic rental markets. Each unit boasts over 1,000 square feet of living space, configured as 3-bedroom, 1-bathroom floor plans with oversized private balconies nearing 250 SF—a feature rarely found in comparable product. The property offers ample parking with 17 on-site spaces, allowing each unit to have two dedicated spaces, a highly attractive amenity for tenants. With a seasoned, long-term tenant base, the property enjoys zero vacancy and historically low turnover, fostering a tight-knit community feel. The asset currently operates at an attractive 11.76 GRM and 5.2% cap rate, with rents below market and room for growth through strategic renovations or repositioning. While the property is performing well operationally, buyers should note that the third bedrooms in each unit are non-conforming and were not permitted as part of the original 2-bedroom floor plans. In 2024 significant capital expenditure was made modifying several of the balconies. The building would benefit from continued maintena
Location
State CA
County Orange
Interior
Fireplace No
Laundry Other
Building
Lot Description Level, Other
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Ray Marquez
Broker-Associate | Lic# CA DRE#01800314 AZ# BR70577800