2602 W Aurora Street 4, Santa Ana, California 92704, Santa Ana, 92704 - bed, bath

2602 W Aurora Street 4, Santa Ana, California 92704 home-pic-0
ACTIVE$1,845,000
2602 W Aurora Street 4, Santa Ana, California 92704
0Bed
0Bath
4,519Sqft
8,712Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:
High Gross Rental Income: The property boasts a significant gross rental income of $116,352 per year, indicating strong cash flow potential for investors.
Top Cons:
Property Age: Built in 1968, the property is over 50 years old, which may suggest potential for deferred maintenance, outdated systems, or the need for significant capital expenditures in the near future.

Compared to the nearby listings

Price:$1.84M vs avg $1.50M (+$340,000)91%
Size:4,519 sqft vs avg 3,150 sqft64%
Price/sqft:$408 vs avg $40850%

More Insights

Built in 1968 (57 years old).
Condition: Built in 1968, this property is 56 years old. The listing description focuses on its income potential and unit configuration but provides no details or images of interior renovations, kitchens, or bathrooms. The exterior images show a dated but seemingly maintained property, consistent with its age. The lack of interior photos strongly suggests that the kitchens, bathrooms, and other interior finishes are likely original or have only received minor, non-extensive updates over the decades, making them significantly outdated. While the property is functional and generates substantial rental income, indicating it's habitable, it would require significant updates and modernization, particularly in the kitchens and bathrooms, to meet current quality and aesthetic standards. Major components are likely functional but show clear signs of being outdated, aligning with the 'Fair' condition criteria.
Year Built
1968
Close
-
List price
$1.84M
Original List price
$1.84M
Price/Sqft
$408
HOA
-
Days on market
-
Sold On
-
MLS number
OC25071566
Home ConditionFair
Features
Deck
Patio
View-

About this home

Bring your investors to this great South Coast Metro Covington 4-Plex that is located very close to South Coast Plaza and close to 405 Freeway. Great gross rental income of $116,352 per year currently. The building consist of a large 3 bedroom 2 bathrooms with a fireplace; 2nd unit has a single story 2 bedroom 2 bathrooms; 3rd unit has 2 bedrooms and 1 bathroom and the 4th unit has a 2 bedroom and 1 bathroom. Three of the units have patios and the 4th unit above the garage has a large balcony. All the 4 garages have washer/dryer hookups. Buyers to verify all information .

Condition Rating
Fair

Built in 1968, this property is 56 years old. The listing description focuses on its income potential and unit configuration but provides no details or images of interior renovations, kitchens, or bathrooms. The exterior images show a dated but seemingly maintained property, consistent with its age. The lack of interior photos strongly suggests that the kitchens, bathrooms, and other interior finishes are likely original or have only received minor, non-extensive updates over the decades, making them significantly outdated. While the property is functional and generates substantial rental income, indicating it's habitable, it would require significant updates and modernization, particularly in the kitchens and bathrooms, to meet current quality and aesthetic standards. Major components are likely functional but show clear signs of being outdated, aligning with the 'Fair' condition criteria.
Pros & Cons

Pros

High Gross Rental Income: The property boasts a significant gross rental income of $116,352 per year, indicating strong cash flow potential for investors.
Prime Investment Location: Strategically located in the desirable South Coast Metro area, very close to South Coast Plaza and the 405 Freeway, enhancing tenant demand and long-term property value.
Diverse Unit Configuration: Features a varied unit mix including a 3-bed/2-bath, a 2-bed/2-bath, and two 2-bed/1-bath units, appealing to a broader range of potential tenants.
Tenant-Friendly Amenities: Most units offer private outdoor spaces (patios or a large balcony), and all four garages include convenient washer/dryer hookups, adding significant appeal for renters.
Dedicated Income Property: As a quadruplex, this property is purpose-built for residential income, providing multiple income streams from a single asset, ideal for investors.

Cons

Property Age: Built in 1968, the property is over 50 years old, which may suggest potential for deferred maintenance, outdated systems, or the need for significant capital expenditures in the near future.
Lack of Renovation Details: The description does not specify any recent updates or renovations, implying the units might be in original or dated condition, potentially impacting rental rates or requiring investment for modernization.
Buyer Due Diligence Required: The explicit statement 'Buyers to verify all information' often signals that the property is being sold without extensive seller guarantees or disclosures, necessitating thorough due diligence from the buyer.

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