2318 Franzen, Santa Ana, California 92705, Santa Ana, 92705 - bed, bath
ACTIVE$1,850,000
2318 Franzen, Santa Ana, California 92705
0Bed
0Bath
4,180Sqft
7,841Lot
Year Built
1969
Close
-
List price
$1.85M
Original List price
$2.05M
Price/Sqft
$443
HOA
-
Days on market
-
Sold On
-
MLS number
PW25259316
Home ConditionGood
Features
View-
About this home
We found 4 Cons,5 Pros.
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.
Nearby schools
5/10
La Veta Elementary School
Public,•K-6•0.9mi
7/10
El Modena High School
Public,•9-12•1.9mi
Price History
Date
Event
Price
11/27/25
Price Change
$1,850,000-9.8%
11/12/25
Listing
$2,050,000
07/27/21
Sold
$1,625,000
06/29/15
Sold
$990,000
Condition Rating
Good
The property, built in 1969, benefits from significant recent updates. The description explicitly states that one 3-bedroom unit has been 'fully refresh[ed] with a new kitchen, updated bathrooms, and new flooring throughout.' The provided images confirm a modern, high-quality bathroom renovation with new vanity, fixtures, and tile. Additionally, the entire property has received 'new dual pane vinyl windows throughout and the recently painted exterior.' While the condition of the other three units is not detailed and the underlying structure is older, these substantial recent renovations make the property largely move-in ready and well-maintained, aligning with the 'Good' criteria for extensive renovations and overall condition.
Pros & Cons
Pros
Multi-Unit Income Potential: As a 4-plex, the property offers diversified rental income streams, providing a strong investment opportunity with multiple revenue sources.
Recently Renovated Unit: The 3-bedroom unit has been fully refreshed with a new kitchen, updated bathrooms, and new flooring, enhancing its marketability and rental income potential immediately.
Significant Capital Improvements: Property-wide upgrades, including new dual-pane vinyl windows and a freshly painted exterior, reduce immediate maintenance concerns and improve curb appeal and energy efficiency.
Established & Well-Maintained Asset: Described as a 'well-maintained 4-plex,' suggesting a history of care and potentially stable tenancy, which is attractive for investors.
Recent Price Adjustment: The property has seen a $200,000 price reduction from its original listing, indicating increased competitiveness and potential value for a buyer.
Cons
MLS Listing Discrepancy: 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.
Restricted Property Access: The 'Do Not Disturb Tenants' clause and 'Units to be toured with accepted offer' severely limit a buyer's ability to conduct thorough due diligence on occupied units prior to an offer.
Age of Structure & Unspecified Systems: Built in 1969, while cosmetic updates are noted, the condition of major underlying systems (e.g., plumbing, electrical, HVAC, roof beyond paint) in the other units is unknown and could lead to future capital expenditures.
Absence of Cooling System Mention: The property description does not specify any air conditioning, which could be a significant detractor for tenants and impact rental rates in Santa Ana's climate.