
Santa Ana, California 92707
This Dual-Unit Residential Asset is a Strong Value Opportunity, listed at $1,450,000—positioned above the $1,349,454 Fair Market Value. Despite the premium, the property delivers immediate cash flow of $6,000 monthly via a remodeled 1949 bungalow and a 2022-built 3-bedroom ADU. With an Excellent Condition Rating, this turnkey property offers significant rental stability and modern amenities, including a private patio. It serves as a strategic acquisition for Buy-and-Hold Investors or Owner-Occupants seeking to offset mortgage costs through high-demand rental income.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2118 Park Drive Subject 5 bd · 3 ba · 1,801 sqft · $710 | $1,349,000* List Price | 5 | 3 | 1,801 | $710 | - |
A 2325 S Shelton Sold 3 bd · 2 ba · 1,130 sqft · $876 · 0.3 mi | $990,000 | 3 | 2 | 1,130 | $876 | 0.3 mi |
B 1615 S Van Ness Sold 3 bd · 2 ba · 1,576 sqft · $609 · 0.7 mi | $960,000 | 3 | 2 | 1,576 | $609 | 0.7 mi |
C 3026 S Baker Sold 4 bd · 3 ba · 1,829 sqft · $647 · 0.9 mi | $1,184,000 | 4 | 3 | 1,829 | $647 | 0.9 mi |
D 1205 S Flower Sold 3 bd · 2 ba · 1,301 sqft · $734 · 1.0 mi | $955,000 | 3 | 2 | 1,301 | $734 | 1.0 mi |
E 2218 Towner Pending 5 bd · 3 ba · 1,849 sqft · $676 · 0.1 mi | $1,250,000 List Price | 5 | 3 | 1,849 | $676 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
The property features a brand new ADU built in 2022 and a main residence that has undergone extensive professional remodeling. Interior upgrades include updated kitchens with stone countertops, recessed lighting, newer cabinetry, double-pane windows, and modern tile flooring throughout, meeting the criteria for mint condition with recent renovations.
The property features a remodeled main house and a brand-new 2022 ADU, providing immediate cash flow of $6,000 per month and versatile options for owner-occupants or investors.
The 1949 bungalow has undergone professional remodeling with stone countertops and recessed lighting, while the new ADU offers contemporary 3-bedroom, 2-bathroom accommodations.
A long-term tenant of 14 years in the main residence offers established rental history and stability, with additional upside potential to reach fair-market rent levels.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =6300, other record lot size in square feet = 6245. Living area discrepancy between mls listing and other public or private record. mls listing living area = 1801, other record living area = 802. Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 5, other record bedroom count = 2.
The property is served by elementary and middle schools with low ratings (2-3), which may deter families who prioritize high-performing educational districts.
At a list price of $1.45M, the property represents a significant capital investment for the Santa Ana market, requiring high occupancy and rent levels to maintain a competitive cap rate.
Excellent opportunity for investors or owner-occupants seeking immediate cash flow, multiple living spaces, and additional rental upside. Located at 2118 S Park Dr, Santa Ana, CA 92707, this property features a charming main residence plus a newer 3-bedroom, 2-bath ADU built in 2022. The property currently generates approximately $6,000 per month in combined rental income — roughly $72,000 annually. The main house is occupied by a long-term tenant of approximately 14 years, providing valuable rental stability with annual rent increases. Current rents may also offer additional future upside toward fair-market levels, subject to applicable lease terms and rental regulations. The main residence is a charming circa-1949 bungalow that has undergone extensive professional-level remodeling. Interior upgrades include recessed ceiling lighting, an updated kitchen with black stone countertops, newer cabinetry, stainless-steel sink, easy-care tile flooring throughout, and double-pane windows. A backyard patio slider provides convenient access to the private outdoor living area with steel side-yard gates providing added privacy and security. Adding tremendous value is the 2022-built 3-bedroom, 2-bath ADU, creating a highly desirable two-unit living arrangement and multiple income possibilities. An investor can benefit from income from both residences, while an owner-occupant may choose to live in one unit and rent out the other to help offset the mortgage and monthly housing expenses. Ideal for a buy-and-hold investor, owner-investor, or multi-generational household, this property combines established rental income, a long-term tenancy, substantial improvements, a newer ADU, and future income potential. Approximately $72,000 in current annual gross rental income with potential for more — a compelling Santa Ana investment opportunity with cash flow from day one.
No exterior & parking available.
Grades K-5 • 0.3 mi
Grades K-8 • 0.8 mi
Grades 6-8 • 1.0 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 5.0 | 3.0 |
| Baths | 3.0 | 2.0 |
| Square foot | 1,801 | 1,542.506 |
| Lot Size | 6,300 | 6,744.358 |
| Price | $1.35M | $1.02M |
| Price per sq ft | $749 | $687 |
| Built year | 1949 | 1958 |
| HOA | $0 | $204 |
| Days on market | 51 | 49 |
Oct 16, 2026
$1,349,000
$1,399,000
-4% Price Drop
Initial Listing
Oct 15, 2026
$1,399,000
$1,450,000
-4% Price Drop
Initial Listing
Sep 4, 2026
$1,450,000
Initial Listing
Oct 28, 2011
$200,000
Public Record
Sep 25, 1998
$142,000
Public Record