500 E 15th, Santa Ana, California 92701, Santa Ana, 92701 - bed, bath
500 E 15th
Santa Ana, California 92701
Property Price
SUMMARY
Analysis of 500 E 15th, Santa Ana, California 92701 is currently available with a list price of $1,250,000. The property maintains a Good Condition Rating (78/100), reflecting solid structural condition with well-maintained systems. The property presents an attractive opportunity for buyers seeking a move-in ready home. Located in a high-demand neighborhood within the Santa Ana Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.
Condition Analysis
OVERALL CONDITION SCORE
Property is move-in ready.
Although originally built in 1948, the property is in turnkey condition following significant interior renovations. The kitchens have been modernized with white shaker-style cabinetry, stone countertops, and stainless steel appliances. The bathrooms feature updated vanities and contemporary tiling. With updated laminate flooring, recessed lighting, and fresh paint throughout, the units are move-in ready and well-maintained, meeting the criteria for a high-quality, updated income property.
PROSSTRENGTHS & OPPORTUNITIES
- ADU Expansion Potential
The property includes city-approved plans for a 515 SF garage conversion into a 1-bedroom ADU, offering an immediate path to increase rental income and property value.
- Development Flexibility
Situated on a generous 7,405 SF lot with R3 zoning, the property provides significant long-term upside for investors looking to explore higher-density development options.
- Prime Rental Location
Located near Downtown Santa Ana and major freeways, the property is positioned in a high-demand rental market, ensuring consistent occupancy and strong rental fundamentals.
CONSRISKS & DEFICIENCIES
- MLS Listing Discrepancy
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =7405, other record lot size in square feet = 7630. Living area discrepancy between mls listing and other public or private record. mls listing living area = 1826, other record living area = 1552.
- Limited Unit Mix
The current configuration consists entirely of one-bedroom units, which may limit the tenant pool to individuals or couples and potentially result in higher turnover compared to family-sized units.
- Vintage Infrastructure
Built in 1948, the property may require more frequent maintenance and capital improvements to aging systems compared to newer multifamily assets.
About 500 E 15th
Introducing 500 E 15th St, a well-maintained triplex in the heart of Santa Ana offering strong current income and excellent upside potential. Situated on a 7,405 SF R3 lot, this 1,826 SF multifamily property features three spacious one-bedroom units and approved ADU plans ready to build. A perfect opportunity for investors seeking both stability and future growth. The current unit mix includes one (1) 1-bedroom, 1.5-bath unit (approx. 826 SF) and two (2) 1-bedroom, 1-bath units (approx. 500 SF each). Each residence offers functional layouts with natural light and private access. The property benefits from its prime location near Downtown Santa Ana, schools, and major freeways, offering consistent tenant demand and strong rental fundamentals. With ADU plans approved by the City of Santa Ana for a 515 SF 1-bedroom, 1-bath garage conversion, investors can immediately unlock additional rental income potential. The R3 zoning allows for future development flexibility, while the existing structure provides reliable cash flow today. Located within the Santa Ana Unified School District, this property is ideal for both value-add investors and 1031 exchange buyers looking to grow their Orange County portfolio. This is a rare opportunity to acquire a turnkey triplex with city-approved ADU expansion potential in one of Orange County’s most centrally located rental markets.
Property Details
Public Facts
- Property Type
- Triplex
- Year Built
- 1948
- Lot Size
- 7,405 Sq. Ft.
Interior
- Total Bedrooms
- -
- Total Bathrooms
- -
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Santa Ana Unified Schools
Wallace R. Davis Elementary School
Grades K-5 • 0.1 mi
Garfield Elementary School
Grades K-5 • 0.6 mi
Raymond A. Villa Fundamental Intermediate School
Grades 6-8 • 1.3 mi
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | - | - | 50% |
| Baths | - | - | 50% |
| Square foot | 1,826 | 2,049 | 33% |
| Lot Size | 7,405 | 7,405 | 50% |
| Price | $1.25M | $1.04M | 67% |
| Price per sq ft | $685 | $393 | 89% |
| Built year | 1948 | 1926 | 67% |
| HOA | $0 | $0 | 50% |
| Days on market | 116 | 134 | 33% |
Pricing History
Listed for Sale
Dec 12, 2025
$1,250,000
$1,299,900
-4% Price Drop
Initial Listing
Price Change
Nov 11, 2025
$1,299,900
Initial Listing
Sold
Mar 12, 2021
$930,000
Public Record
Sold
May 24, 2018
$675,000
Public Record
Sold
Jun 13, 2011
$260,000
Public Record