1008 W 3rd Street, Santa Ana, California 92703, Santa Ana, 92703 - bed, bath
ACTIVE UNDER CONTRACT$720,000
1008 W 3rd Street, Santa Ana, California 92703
0Bed
0Bath
1,470Sqft
6,098Lot
Year Built
1929
Close
-
List price
$720K
Original List price
$779K
Price/Sqft
$490
HOA
-
Days on market
-
Sold On
-
MLS number
OC25215551
Home ConditionFair
Features
View-
About this home
We found 3 Cons,5 Pros. Rank: price - $720.0K(36th), sqft - 1470(45th), beds - undefined(50th), baths - undefined(50th).
Discover a prime investment opportunity at 1008–1010 W. 3rd Street, a well-maintained side-by-side duplex ideally located near downtown Santa Ana. Each unit features 2 bedrooms, 1 bathroom, and a detached single-car garage. The property is currently leased to long-term tenants on month-to-month agreements, generating $3,495/month in rent with market potential of approximately $4,000/month. The seller prefers to sell with tenants in place. This turnkey property offers immediate cash flow and long-term upside in a growing rental market. Please do not disturb tenants—showings available for qualified buyers only.
Price History
Date
Event
Price
11/12/25
Price Change
$720,000-2.7%
10/29/25
Price Change
$740,050-5.0%
09/11/25
Listing
$779,000
Condition Rating
Fair
The property was built in 1929, making it 95 years old. While the description states it is 'well-maintained' and 'turnkey' with long-term tenants, there are no interior images to assess the condition of the kitchen, bathrooms, appliances, flooring, or other critical systems. Given its age, it is highly probable that major components are functional but outdated, requiring minor updates or renovations to meet current standards. The exterior image shows an older structure consistent with its build year, but does not suggest significant recent modernization. Without evidence of extensive renovation within the last 15-30 years, it falls into the 'Fair' category, indicating it is aged but maintained, with functional but likely outdated features.
Pros & Cons
Pros
Income-Generating Duplex: A well-maintained side-by-side duplex offering two units, ideal for residential income and investment purposes.
Immediate Cash Flow: Currently leased to long-term tenants on month-to-month agreements, providing instant rental income of $3,495/month.
Rental Upside Potential: Current rents are below market potential, with an estimated upside to approximately $4,000/month, offering future income growth.
Prime Location: Strategically located near downtown Santa Ana, enhancing tenant demand and long-term property value.
Individual Garages: Each unit benefits from a detached single-car garage, adding convenience and appeal for tenants.
Cons
Limited Access for Showings: The property is tenant-occupied with strict showing restrictions (qualified buyers only, no disturbing tenants), complicating thorough buyer inspections and due diligence.
Active Under Contract Status: The property is currently 'Active Under Contract,' meaning a primary offer is already accepted, potentially limiting opportunities for new buyers.
Recent Price Reductions: Multiple price reductions from an original list price of $779,000 to $720,000 suggest potential overpricing or challenges in attracting buyers at previous price points.