1621 Cedar, Santa Ana, California 92707, Santa Ana, 92707 - 0 bed, 0 bath
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Santa Ana, California 92707
This four-unit Strong Value Opportunity is listed at a List Price of $1,250,000—positioned well below the $1,370,318 Fair Market Value by 8%. This valuation gap provides $120,318 in Instant Equity. Featuring a Condition Rating of 4, the property offers significant upside for modernization. With separately metered utilities and private garages, this asset is designed for low-maintenance operations. It is an ideal acquisition for Buy-and-Hold Investors or Value-Add Developers seeking stable, long-term rental demand in a supply-constrained market.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1621 Cedar Subject | $1,250,000* List Price | 0 | 0 | 3,279 | $418 | - |
A 1911 Cypress Sold | $1,185,000 | 7 | 3 | 2,887 | $410 | 0.5 mi |
B 2114 Orange Sold | $1,155,000 | 0 | 0 | 2,400 | $481 | 0.6 mi |
C 2114 Orange Avenue Sold | $1,155,000 | 6 | 3 | 2,400 | $481 | 0.6 mi |
D 1911 Cypress Sold | $1,185,000 | 0 | 0 | 2,887 | $410 | 0.5 mi |
E 1609 Cedar Active | $1,050,000 List Price | 0 | 0 | 3,052 | $344 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
The property was built in 1961 (65 years old) and the listing lacks mention of recent renovations to kitchens, bathrooms, or core systems like HVAC and electric. While the exterior appears well-maintained and the alley was recently repaved, the age and lack of interior updates categorize it as dated and in need of modernization.
All units are separately metered for gas and electricity with in-unit laundry hookups, resulting in minimal utility costs for the owner and maximizing net operating income.
The property offers a desirable mix of all two-bedroom units with private garages and fenced patios, providing a single-family residential feel that attracts stable, long-term tenants.
Situated in a supply-constrained rental market with immediate access to the 55 Freeway and South Coast Plaza, the property is positioned for consistent demand and long-term appreciation.
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 = 6885. Living area discrepancy between mls listing and other public or private record. mls listing living area = 3279, other record living area = 4099.
The assigned public schools carry low ratings (ranging from 2 to 3), which may limit the property's appeal to families who prioritize high-quality educational districts.
Built in 1961, the property may require significant long-term capital expenditures for aging infrastructure and systems typical of buildings from this era.
We are pleased to present 1621 S. Cedar Street, a four-unit investment opportunity located in the heart of Central Santa Ana. The property features an attractive unit mix of all two-bedroom/one-bath homes, including three single-story units and one unit over garage — offering tenants the feel of individual home living rarely found in multi-family housing. Each unit includes its own private garage, in-unit laundry hookups, and all units are separately metered for gas and electric — resulting in zero utility expense for the owner. Three of the four units feature large fenced private patios. Additional street and alley parking provides tenants convenience beyond their individual garages. The alley has recently been repaved in concrete, reducing future maintenance costs. 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 | 3,279 | 2,400 |
| Lot Size | 6,970 | 8,139.5 |
| Price | $1.25M | $1.05M |
| Price per sq ft | $381 | $429 |
| Built year | 1961 | 1952 |
| HOA | $0 | $0 |
| Days on market | 6 | 100 |
Jul 16, 2026
$1,250,000
Initial Listing
Feb 9, 2018
$950,000
Public Record
Feb 23, 1996
$288,000
Public Record
Mar 11, 1994
$175,000
Public Record