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1405 S Broadway, Santa Ana, California 92707, Santa Ana, 92707 - bed, bath

1405 S Broadway, Santa Ana, California 92707 home-pic-0
ACTIVE$1,550,000
1405 S Broadway, Santa Ana, California 92707
0Bed
0Bath
3,272Sqft
6,098Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:
Strong Current Income: The property is fully rented with a total monthly income of $9,300, providing immediate and stable cash flow for an investor.
Top Cons:
Property Age & Potential Maintenance: Built in 1951, the property's age suggests potential for aging infrastructure and systems (e.g., plumbing, electrical, roof) that may require significant capital expenditures in the future, despite some unit updates.

Compared to the nearby listings

Price:$1.55M vs avg $1.13M (+$420,000)67%
Size:3,272 sqft vs avg 2,625 sqft53%
Price/sqft:$474 vs avg $43473%

More Insights

Built in 1951 (74 years old).
Condition: The property was built in 1951, making it over 70 years old. While the listing mentions that one 2-bedroom unit was 'recently remodeled' and one 1-bedroom unit includes a 'newly updated kitchen,' indicating some modernizations, the overall property's age suggests potential for aging infrastructure and systems. The exterior appears well-maintained, and the property is fully rented, implying functional living conditions. However, without interior images of all units, especially bathrooms and other kitchens, and considering the age of the building, it's likely that some components are functional but show signs of being outdated, aligning with the 'Fair' condition criteria. It's aged but maintained with occasional updates, rather than extensively renovated throughout.
Year Built
1951
Close
-
List price
$1.55M
Original List price
$1.59M
Price/Sqft
$474
HOA
-
Days on market
-
Sold On
-
MLS number
OC25244242
Home ConditionFair
Features
Patio
View-

About this home

Prime 4-Unit Investment Opportunity in Wilshire Square – Strong Income & Ideal Location Discover an exceptional, fully-rented fourplex in the charming and historic Wilshire Square neighborhood of Santa Ana. This well-maintained property features four separately metered units (gas and electric), providing stable income with minimal owner expenses. Unit Mix & Current Rents (2) Two-Bedroom, One-Bath Units • Downstairs 2BR – $2,800/mo: Recently remodeled by previous owner • Upstairs 2BR – $2,500/mo: Well cared for with reliable long-term appeal (2) One-Bedroom, One-Bath Units • Downstairs 1BR – $2,000/mo: Includes a newly updated kitchen • Upstairs 1BR – $2,000/mo: Consistently strong tenant demand Total Monthly Rental Income: $9,300 A shared laundry room adds convenience for residents and offers potential for additional revenue. Ideally situated within the sought-after Wilshire Square community, this property blends neighborhood charm with urban accessibility. Tenants enjoy close proximity to: • Bowers Museum and Santa Ana Zoo • Walkable dining, cafés, and shops along Main Street and Downtown Santa Ana • Santa Ana College and Mater Dei High School • Easy access to the 5, 55, and 22 freeways—ideal for commuters Whether you're a seasoned investor or entering the multi-family market, this fourplex delivers immediate cash flow with long-term upside. With Santa Ana’s ongoing revitalization and sustained rental demand, it’s a strategic addition to any portfolio. Drive by only—please do not disturb tenants.

Nearby schools

5/10
Martin Elementary School
Public,•K-5•0.5mi
2/10
Julia C. Lathrop Intermediate School
Public,•6-8•0.3mi
3/10
Gerald P. Carr Intermediate School
Public,•6-8•1.5mi
6/10
Saddleback High School
Public,•7-12•1.4mi
Condition Rating
Fair
The property was built in 1951, making it over 70 years old. While the listing mentions that one 2-bedroom unit was 'recently remodeled' and one 1-bedroom unit includes a 'newly updated kitchen,' indicating some modernizations, the overall property's age suggests potential for aging infrastructure and systems. The exterior appears well-maintained, and the property is fully rented, implying functional living conditions. However, without interior images of all units, especially bathrooms and other kitchens, and considering the age of the building, it's likely that some components are functional but show signs of being outdated, aligning with the 'Fair' condition criteria. It's aged but maintained with occasional updates, rather than extensively renovated throughout.
Pros & Cons

Pros

Strong Current Income: The property is fully rented with a total monthly income of $9,300, providing immediate and stable cash flow for an investor.
Ideal Investment Opportunity: As a quadruplex in a desirable neighborhood, it represents a prime multi-family investment opportunity with long-term upside and sustained rental demand in Santa Ana.
Reduced Owner Expenses: All four units are separately metered for gas and electric, significantly minimizing the owner's utility expenses and simplifying management.
Prime Location & Accessibility: Located in the charming Wilshire Square neighborhood, offering urban accessibility, proximity to cultural attractions, walkable dining, schools, and easy access to major freeways (5, 55, 22).
Unit Upgrades & Amenities: Some units have been recently remodeled or updated (e.g., downstairs 2BR, downstairs 1BR kitchen), enhancing tenant appeal, and a shared laundry room adds convenience for residents and potential for additional revenue.

Cons

Property Age & Potential Maintenance: Built in 1951, the property's age suggests potential for aging infrastructure and systems (e.g., plumbing, electrical, roof) that may require significant capital expenditures in the future, despite some unit updates.
Restricted Access for Due Diligence: The 'drive by only - please do not disturb tenants' instruction limits prospective buyers from conducting thorough interior inspections, which can hinder a comprehensive assessment of property condition and tenant situations.
Recent Price Reductions: The property has undergone multiple price reductions from its original listing price, which may indicate an initial overvaluation or a lack of strong buyer interest at previous price points, potentially signaling market resistance.

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