4518 W 1st Street, Santa Ana, California 92703, Santa Ana, 92703 - 1 bed, 1 bath
ACTIVE$2,288,888
4518 W 1st Street, Santa Ana, California 92703
1Bed
1Bath
800Sqft
17,550Lot
Year Built
1948
Close
-
List price
$2.29M
Original List price
$2.19M
Price/Sqft
$2,861
HOA
-
Days on market
-
Sold On
-
MLS number
PW25098263
Home ConditionPoor
Features
Patio
View-
About this home
We found 3 Cons,5 Pros. Rank: price - $2.29M(50th), sqft - 800(50th), beds - 1(50th), baths - 1(50th).
Opportunity! Opportunity! Opportunity for developer, investor, or owner-user to purchase a property at land-value. Hard to find this type of mixed-use property in this neighborhood. The property consists of almost 18k square feet of land with 1,600 square foot of commercial building and a residential building containing approximately 800 square feet. The neighborhood is a mixed-use neighborhood, with residential, commercial, and industrial uses, with high visibility and daily traffic in the range of 20-30k per day. THIS LISTING IS SELLING TOGETHER WITH THE OTHER COMMERICAL LISTING ID#PW25097615. THIS IS FOR THE SAME PARCEL#10810234 WITH ONE COMMERCIAL BUILDING AND ONE RESIDENTIAL BUILDING AS MIXED-USE.
Nearby schools
4/10
Heritage Elementary School
Public,•PK-6•0.3mi
6/10
Rosita Elementary School
Public,•K-6•0.6mi
8/10
R. F. Hazard Elementary School
Public,•K-6•0.6mi
5/10
Newhope Elementary School
Public,•K-6•0.8mi
8/10
Morningside Elementary School
Public,•K-6•1.2mi
5/10
Woodbury Elementary School
Public,•K-6•1.3mi
5/10
Mamie L. Northcutt Elementary School
Public,•K-6•1.8mi
5/10
Linton T. Simmons Elementary School
Public,•K-6•3.5mi
4/10
Stephen R. Fitz Intermediate School
Public,•7-8•0.5mi
7/10
James Irvine Intermediate School
Public,•7-8•1.0mi
5/10
Los Amigos High School
Public,•9-12•1.5mi
7/10
Santiago High School
Public,•9-12•1.8mi
8/10
Bolsa Grande High School
Public,•9-12•2.2mi
Condition Rating
Poor
Built in 1948, the property is explicitly marketed at 'land-value,' indicating the existing structures have low intrinsic value and require 'substantial renovation, modernization, or complete redevelopment.' While recent cosmetic updates (new flooring, paint, recessed lighting, basic kitchen cabinets, and bathroom fixtures) make the residential unit superficially livable, these do not address the likely significant underlying issues of a 76-year-old building. The kitchen and bathroom are new but very basic and lack modern features or style. The overall condition suggests major systems and structural components are likely outdated or in need of substantial repair, aligning with a 'poor' rating despite the recent superficial refresh.
Pros & Cons
Pros
Mixed-Use Zoning & Versatility: The property's mixed-use designation, featuring both commercial and residential buildings on a single parcel, offers exceptional versatility for various business models, development, or owner-occupancy with rental income.
Large Lot Size for Redevelopment: With almost 18,000 sqft of land, the property presents a significant opportunity for future expansion, redevelopment, or maximizing land use in a desirable mixed-use neighborhood.
High Traffic & Visibility Location: Situated in a high-visibility area with 20-30k daily traffic, this location is ideal for commercial enterprises seeking maximum exposure and customer flow.
Investment/Development Potential: Explicitly marketed as an 'Opportunity for developer, investor, or owner-user,' indicating strong potential for value appreciation through strategic development or repositioning.
Dual Income Stream Capability: The presence of both a commercial and a residential building on the same parcel allows for diversified income generation, enhancing its appeal to investors.
Cons
Age of Structures & Potential for Extensive Renovation/Redevelopment: Built in 1948, the existing buildings are old, suggesting they may require substantial renovation, modernization, or complete redevelopment, which entails significant additional capital investment.
Mandatory Combined Sale: The requirement to purchase this listing 'together with the other commercial listing' (PW25097615) could limit the buyer pool and increase the overall acquisition cost and complexity of the transaction.
Land-Value Focus Implies Low Building Value: Being marketed 'at land-value' suggests that the current structures themselves may not contribute significantly to the property's overall value, implying that buyers should budget for substantial work or demolition.