
Santa Ana, California 92707
This triplex presents a High-Potential Investment Opportunity with a List Price of $1,050,000—positioned well below the $1,257,274 Fair Market Value by 16%. This valuation gap offers $207,274 in Instant Equity. Featuring a Condition Rating of 3, the property includes renovated interiors, private garages, and fenced patios. With separate utility metering and strong rental demand, this is a stable Buy-and-Hold Asset ideal for Value-Add Investors or Portfolio Diversifiers seeking immediate cash flow and long-term appreciation.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1609 Cedar Subject | $1,050,000* List Price | 0 | 0 | 3,052 | $412 | - |
A 1911 Cypress Sold | $1,185,000 | 7 | 3 | 2,887 | $410 | 0.5 mi |
B 1911 Cypress Sold | $1,185,000 | 0 | 0 | 2,887 | $410 | 0.5 mi |
C 1621 Cedar Active | $1,250,000 List Price | 0 | 0 | 3,279 | $381 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
Although built in 1961, the property has undergone significant recent capital improvements. Two of the three units feature nearly complete interior renovations including new kitchens with granite countertops and cabinetry, updated bathrooms, and new forced air HVAC systems. The exterior is well-maintained with updated energy-efficient windows throughout.
The property features a unique blend of a single-story house and townhouse-style units, all offering rare multi-family amenities including private garages, large fenced patios, and in-unit laundry hookups.
All units are separately metered for gas and electricity, resulting in zero utility expenses for the owner and a more streamlined bottom line for investors.
Two units have been extensively renovated with modern finishes and HVAC, and the entire property benefits from new energy-efficient windows, reducing immediate maintenance needs.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =6970, other record lot size in square feet = 6887.
The assigned elementary, intermediate, and high schools all carry low ratings (2 to 3 out of 10), which may deter some long-term family tenants and impact appreciation.
Since only two of the three units are renovated, the buyer will eventually need to invest additional capital and manage a turnover to bring the third unit up to the same market standard.
We are pleased to present 1609 S. Cedar Street, a three-unit investment opportunity located in the heart of Central Santa Ana. The property features an attractive unit mix of one single-story two-bedroom/one-bath home and two townhouse-style two-bedroom/one-and-a-half-bath units — offering tenants a distinctive living experience rarely found in multi-family housing. Each unit includes its own private garage, with one unit featuring direct interior garage access, and all units offer large fenced private patios and in-unit washer and dryer hookups. All units are separately metered for gas and electric — resulting in zero utility expense for the owner. Additional street and alley parking provides tenants convenience beyond their individual garages. Two of the three units have received nearly complete interior renovations including new drywall, flooring, granite countertops, new cabinetry, updated kitchen and bathroom fixtures, gas range, and forced air heating and cooling. The exterior has also been upgraded with new windows throughout, enhancing curb appeal and energy efficiency. The property is ideally situated in Central Santa Ana's supply-constrained rental market, offering investors stable long-term demand fundamentals. Tenants enjoy convenient access to numerous recreational parks within two miles, top-rated schools nearby, and some of Southern California's premier shopping, dining, and entertainment at South Coast Plaza — just minutes away. Commuters benefit from immediate proximity to the 55 Freeway and are just five miles from John Wayne Airport, providing seamless connectivity throughout the Southern California region and beyond.
No exterior & parking available.
Grades K-5 • 0.5 mi
Grades 6-8 • 0.8 mi
Grades 9-12 • 0.5 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 4.0 |
| Baths | 0.0 | 2.5 |
| Square foot | 3,052 | 2,400 |
| Lot Size | 6,970 | 8,139.5 |
| Price | $1.05M | $1.05M |
| Price per sq ft | $344 | $429 |
| Built year | 1961 | 1952 |
| HOA | $0 | $0 |
| Days on market | 6 | 100 |
Jul 16, 2026
$1,050,000
Initial Listing
Jul 6, 2017
$800,000
Public Record
Aug 29, 2016
$515,000
Public Record