2318 Franzen, Santa Ana, California 92705, Santa Ana, 92705 - 0 bed, 0 bath
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Santa Ana, California 92705
This Well-Maintained Quadruplex Asset is listed at $1,695,000, representing a stable entry point at its $1,695,000 Fair Market Value. The property features a vacant, fully renovated 3-bedroom unit with a new kitchen and updated bathrooms, providing immediate value-add potential through market-rate leasing. Recent capital improvements, including new dual-pane vinyl windows and a Condition Rating of 3, ensure reduced near-term maintenance costs. Boasting private patios and proximity to El Modena High School, this 4,180 sqft building is perfectly suited for Buy-and-Hold Investors or Owner-Occupants looking to maximize rental yield.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2318 Franzen Subject | $1,695,000* List Price | 0 | 0 | 4,180 | $406 | - |
A 2232 Joana Active | $1,698,000 List Price | 0 | 0 | 4,110 | $413 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
Although built in 1969, the property is well-maintained and features significant recent capital improvements including new dual-pane vinyl windows and fresh exterior paint. The largest 3-bedroom unit has been fully renovated with a modern kitchen, updated bathrooms, and new flooring throughout. While the remaining units are occupied and may not share the same level of interior finish, the overall building is move-in ready with major systems updated or well-maintained.
The largest 3-bedroom unit has been fully renovated with a new kitchen, updated bathrooms, and new flooring, and is currently vacant, allowing a new owner to immediately secure market-rate rent.
The property features significant recent upgrades, including new dual-pane vinyl windows throughout and a freshly painted exterior, reducing immediate maintenance costs for the investor.
The 4-plex offers a versatile mix of one, two, and three-bedroom units, which appeals to a broad tenant base and helps stabilize occupancy and cash flow.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =7841, other record lot size in square feet = 7465.
The requirement that units can only be toured with an accepted offer creates a significant hurdle for due diligence and may deter cautious investors.
A substantial price reduction history from $2.05M to $1.75M suggests the property was initially overpriced for the current market or has faced challenges in attracting qualified buyers.
Great opportunity to own a well-maintained 4-plex. The property consists of 1 3-bedroom 2 bath unit, 2 2-bedroom 2 bath units and a spacious 1-bedroom 1 bath unit. The 3-bedroom unit was just vacated, and the seller used the opportunity to fully refresh the space with a new kitchen, updated bathrooms, mirrored wardrobe closets, a new sliding door, and new flooring throughout thus positioning a new owner to maximize the unit’s rental potential. Other recent improvements include new dual pane vinyl windows throughout and the recently painted exterior. PLEASE DO NOT DISTURB TENANTS. UNITS TO BE TOURED WITH ACCEPTED OFFER.
No exterior & parking available.
Grades K-6 • 0.9 mi
Grades 9-12 • 1.9 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | - | - | 0% |
| Baths | - | - | 0% |
| Square foot | - | - | 0% |
| Lot Size | - | - | 0% |
| Price | - | - | 0% |
| Price per sq ft | - | - | 0% |
| Built year | 1969 | - | 0% |
| HOA | $0 | $0 | 0% |
| Days on market | - | - | 0% |
Mar 19, 2026
$1,695,000
$1,750,000
-3% Price Drop
Initial Listing
Feb 12, 2026
$1,750,000
$1,850,000
-5% Price Drop
Initial Listing
Nov 27, 2025
$1,850,000
$2,050,000
-10% Price Drop
Initial Listing
Nov 12, 2025
$2,050,000
Initial Listing
Jul 27, 2021
$1,625,000
Public Record
Jun 29, 2015
$990,000
Public Record