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

1405 S Broadway, Santa Ana, California 92707 home-pic-0
ACTIVE$1,540,000
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:
High Current Income & Full Occupancy: The property is fully rented, generating a strong monthly income of $9,300 from four units, providing immediate and stable cash flow for an investor.
Top Cons:
MLS Listing Discrepancy: Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =6098, other record lot size in square feet = 6150.

Compared to the nearby listings

Price:$1.54M vs avg $1.13M (+$410,000)67%
Size:3,272 sqft vs avg 2,625 sqft53%
Price/sqft:$471 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 indicates that some units have been 'recently remodeled' or feature a 'newly updated kitchen,' the overall age of the building and the dated appearance of common areas, such as the laundry room (with older appliances and finishes), suggest that not all systems or units have undergone comprehensive recent renovations. The exterior appears maintained but not modern. This aligns with a 'Fair' condition, indicating an aged property maintained through regular upkeep and occasional updates, where major components are functional but show signs of being outdated.
Year Built
1951
Close
-
List price
$1.54M
Original List price
$1.54M
Price/Sqft
$471
HOA
-
Days on market
-
Sold On
-
MLS number
OC25275467
Home ConditionFair
Features
Good View:
Deck
Patio
View-

About this home

High Cap rate, 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-50.5mi
2/10
Julia C. Lathrop Intermediate School
Public,6-80.3mi
3/10
Gerald P. Carr Intermediate School
Public,6-81.5mi
6/10
Saddleback High School
Public,7-121.4mi

Price History

Date
Event
Price
08/03/95
Sold
$270,000
06/24/24
Sold
$1,445,000
11/16/12
Sold
$550,000
05/30/02
Sold
$389,000
Condition Rating
Fair

The property was built in 1951, making it over 70 years old. While the listing indicates that some units have been 'recently remodeled' or feature a 'newly updated kitchen,' the overall age of the building and the dated appearance of common areas, such as the laundry room (with older appliances and finishes), suggest that not all systems or units have undergone comprehensive recent renovations. The exterior appears maintained but not modern. This aligns with a 'Fair' condition, indicating an aged property maintained through regular upkeep and occasional updates, where major components are functional but show signs of being outdated.
Pros & Cons

Pros

High Current Income & Full Occupancy: The property is fully rented, generating a strong monthly income of $9,300 from four units, providing immediate and stable cash flow for an investor.
Strategic Investment Potential: Advertised with a 'High Cap rate' and 'long-term upside' in a revitalizing Santa Ana market, positioning it as a strong asset for portfolio growth.
Separately Metered Utilities: All four units are separately metered for gas and electric, significantly reducing owner operating expenses and simplifying tenant utility management.
Prime Wilshire Square Location & Amenities: Situated in the desirable and historic Wilshire Square neighborhood, offering walkability to dining, shops, museums, and proximity to educational institutions.
Excellent Freeway Accessibility: Tenants benefit from easy access to major freeways (5, 55, and 22), making it highly convenient for commuters across Orange County.

Cons

MLS Listing Discrepancy: Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =6098, other record lot size in square feet = 6150.
Restricted Property Access: The 'drive by only' instruction and request not to disturb tenants limit thorough interior inspections prior to an offer, potentially hindering comprehensive due diligence.
Property Age & Potential Maintenance: Built in 1951, the property is over 70 years old, which may imply higher ongoing maintenance costs and potential for outdated systems (e.g., plumbing, electrical) compared to newer constructions.
Varied Local School Ratings: While some local schools have moderate ratings, others like Julia C. Lathrop Intermediate School have lower ratings (2/10), which could be a consideration for families seeking specific educational environments.

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