208 N Wright Street, Santa Ana, California 92701, Santa Ana, 92701 - 0 bed, 0 bath
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Santa Ana, California 92701
This Income-Generating Triplex represents a High-Potential Investment Opportunity listed at $1,490,000, aligning precisely with its $1,490,000 Fair Market Value. The asset features a 1,500 sqft freestanding front house paired with two rear apartments, all maintaining a Fair Condition Rating that offers significant Value-Add Potential through market-rate rent adjustments. With separate utility meters and a spacious 10,742 sqft lot, the property ensures operational efficiency and long-term rental demand near the Santa Ana Zoo. This versatile acquisition is ideal for Buy-and-Hold Investors or Owner-Occupants seeking a strategic house-hack.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 208 N Wright Street Subject | $1,490,000* List Price | 0 | 0 | 4,200 | $355 | - |
A 806 N Lacy Sold | $1,725,000 | 0 | 0 | 4,500 | $383 | 1.0 mi |
B 600 N Grand Avenue Sold | $1,311,250 | 0 | 0 | 3,260 | $402 | 0.4 mi |
C 812 E Santa Ana Boulevard A-d Sold | $1,080,000 | 0 | 0 | 3,200 | $338 | 0.8 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1979, the property is well-maintained but shows significant signs of age. The kitchen features dated oak-style cabinetry, laminate countertops, and older white appliances, while the bathrooms and living areas utilize basic tile and older fixtures. While functional and clean, the lack of recent modern renovations to major systems and interior finishes aligns with the fair condition category.
With long-term tenants currently paying below-market rates, there is a significant opportunity for an investor to increase rental income and realize immediate equity growth.
The property features a large 1,500 sqft freestanding front house plus two rear apartments, offering a flexible layout that appeals to both multi-generational families and traditional renters.
The units are separately metered for gas and electricity, which minimizes landlord expenses and simplifies the management of utility costs for the owner.
The presence of long-term tenants at low rents may present challenges in achieving market-rate returns quickly due to potential relocation costs or local rent stabilization considerations.
Built in 1979, the property may require upcoming capital expenditures for major systems or cosmetic updates to remain competitive with newer rental inventory in the area.
Nice 3-plex in great condition, well taken care of complex. The front house is a freestanding 1500 sqft 3 bed 2 bath home with a front and back yard. At the back of the lot there are two bed, one bath up and down apartments. There are long time tenants occupying now. Units are very easy to the rent, the rents are low and there is an opportunity to increase. It's separately metered for gas and electric. Close to schools, shopping, ZOO, public transportation and other amenities.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 0.0 | 50% |
| Baths | 0.0 | 0.0 | 50% |
| Square foot | 4,200 | 3,200 | 71% |
| Lot Size | 10,742 | 8,442 | 71% |
| Price | $1.49M | $1.08M | 71% |
| Price per sq ft | $355 | $383 | 43% |
| Built year | 1979 | 1939 | 86% |
| HOA | $0 | $0 | 50% |
| Days on market | 280 | 180 | 86% |
Feb 26, 2026
$1,490,000
$1,550,000
-4% Price Drop
Initial Listing
Jul 16, 2025
$1,550,000
Initial Listing