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308 S Laurel Street, Santa Ana, California 92704, Santa Ana, 92704 - bed, bath

308 S Laurel Street, Santa Ana, California 92704 home-pic-0
ACTIVE$1,950,000
308 S Laurel Street, Santa Ana, California 92704
0Bed
0Bath
3,404Sqft
6,524Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:
Multifamily Investment Opportunity: This property presents a robust 4-unit multifamily investment, offering significant income potential and catering to various investor profiles, including 1031-exchange candidates and homeowners seeking additional rental income.
Top Cons:
Inconsistent Property Type Classification: The `sub_type` is listed as 'Single Family Residence' while the description clearly states '4-unit multifamily investment property,' which could create confusion for potential buyers and impact financing options.

Compared to the nearby listings

Price:$1.95M vs avg $935.0K (+$1,015,000)96%
Size:3,404 sqft vs avg 1,491 sqft95%
Price/sqft:$573 vs avg $64029%

More Insights

Built in 2024 (1 years old).
Condition: This property consists of a brand-new ADU built in 2024 and three additional units fully remodeled in 2023. The description explicitly states 'all-new upgrades' including modern cabinets, quartz countertops, high-quality appliances, wood flooring, recessed lighting, and A/C systems. This meets the 'excellent' criteria of being newly built or extensively renovated within the last 5 years, with all components being new or virtually new and meeting current quality standards.
Year Built
2024
Close
-
List price
$1.95M
Original List price
$2.05M
Price/Sqft
$573
HOA
-
Days on market
-
Sold On
-
MLS number
OC24249476
Home ConditionExcellent
Features
Patio
View-

About this home

Welcome to 308 Laurel Apartments, a 4-unit multifamily investment property nestled in the highly desirable neighborhood of Santa Ana. Brand New Construction UNIT 1: What sets this property apart is the addition of a brand-new ADU completed in 2024; offering 2 bed/2 bath 800 SF With an open floor plan, central A/C, modern cabinets, quartz countertops, high-quality appliances, wood flooring, recessed lighting, and washer & dryer hookups. Fully Remodeled UNITS 2-4: 3 units; each offering 2 bed/1 bath, 868 SF each. These units have been fully remodeled in 2023, modern design elements and loaded with all-new upgrades. There are 3 units with 1-car garage, and 4 driveway parking spots providing convenience for residents. Featuring in-unit washer and dryer hookups, A/C, modern cabinets, quartz countertops, high-quality appliances, wood flooring, recessed lighting. All tenants pay for their own utilities; with gas and electricity having individual meters, ensuring hassle-free maintenance and management. Perfect 1031-exchange opportunity, a homeowner looking for additional rental income, or investors.

Condition Rating
Excellent
This property consists of a brand-new ADU built in 2024 and three additional units fully remodeled in 2023. The description explicitly states 'all-new upgrades' including modern cabinets, quartz countertops, high-quality appliances, wood flooring, recessed lighting, and A/C systems. This meets the 'excellent' criteria of being newly built or extensively renovated within the last 5 years, with all components being new or virtually new and meeting current quality standards.
Pros & Cons

Pros

Multifamily Investment Opportunity: This property presents a robust 4-unit multifamily investment, offering significant income potential and catering to various investor profiles, including 1031-exchange candidates and homeowners seeking additional rental income.
New Construction & Recent Remodels: One unit is a brand-new ADU completed in 2024, and the remaining three units were fully remodeled in 2023, ensuring modern appeal, minimal immediate maintenance, and enhanced rental value.
Modern Amenities & High-Quality Finishes: All units boast desirable features such as central A/C (or A/C), modern cabinets, quartz countertops, high-quality appliances, wood flooring, recessed lighting, and in-unit washer/dryer hookups, appealing to a broad tenant base.
Individual Utility Metering: Each unit has individual gas and electricity meters, with tenants responsible for their own utilities, significantly reducing landlord operating expenses and simplifying property management.
Ample Parking: The property provides convenient parking solutions with three 1-car garages and four additional driveway parking spots, a valuable asset in urban environments like Santa Ana.

Cons

Inconsistent Property Type Classification: The `sub_type` is listed as 'Single Family Residence' while the description clearly states '4-unit multifamily investment property,' which could create confusion for potential buyers and impact financing options.
MLS Area/Subdivision Ambiguity: The 'Other' subdivision and 'Not Defined' MLS area (699) may lack the specific market recognition or desirability associated with named neighborhoods, potentially affecting perceived value or marketing efforts.
Price Reduction: The property has undergone a price reduction from $2.05M to $1.95M, which could suggest previous overpricing or a slower-than-anticipated market response, potentially raising questions for prospective buyers.

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