
Santa Ana, California 92707
This triplex represents a High-Potential Investment Opportunity with a List Price of $1,050,000—positioned well below the $1,257,848 Fair Market Value by 16%. This valuation gap offers $207,848 in Instant Equity. Featuring a Good Condition Rating, the property includes two renovated units with Granite Kitchens and new HVAC systems. With zero owner-paid utilities and high-demand amenities like Private Garages and Fenced Patios, this asset is ideal for Buy-and-Hold Investors or Value-Add Investors seeking stable, long-term rental demand in Central Santa Ana.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1613 Cedar Subject | $1,050,000* List Price | 0 | 0 | 3,052 | $413 | - |
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 1609 Cedar Active | $1,015,000 List Price | 0 | 0 | 3,052 | $333 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
While built in 1963, the property has undergone significant recent renovations. Two of the three units feature nearly complete interior updates including new kitchens (granite/cabinets), bathrooms, and flooring. Major systems have been addressed with new forced air HVAC and energy-efficient windows. The 'Good' rating reflects that the property is move-in ready and well-maintained, though one unit appears to remain in older condition.
All units are separately metered for gas and electricity, resulting in zero utility expense for the owner and maximizing net operating income.
Two of the three units feature comprehensive interior renovations and the entire property has new windows and updated HVAC, reducing immediate maintenance requirements for a new investor.
Each unit offers rare multi-family features including private garages, large fenced patios, and in-unit laundry hookups, ensuring strong tenant retention and competitive rental rates.
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 public schools have low ratings (2-3 out of 10), which may limit the property's appeal to families prioritizing high-performing educational districts.
With only two units renovated, the investor will eventually face additional capital expenditure and potential vacancy to bring the third unit up to the same modern standard.
We are pleased to present 1613 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 | 2.1 |
| Square foot | 3,052 | 1,895.889 |
| Lot Size | 6,970 | 28,507.667 |
| Price | $1.05M | $911.2K |
| Price per sq ft | $344 | $477 |
| Built year | 1963 | 1956 |
| HOA | $0 | $438 |
| Days on market | 48 | 83 |
Jul 23, 2026
$1,050,000
Initial Listing
Jul 6, 2017
$775,000
Public Record
Sep 30, 2016
$515,000
Public Record