515 W Mcfadden Avenue, Santa Ana, California 92707, Santa Ana, 92707 - bed, bath
ACTIVE$549,000
515 W Mcfadden Avenue, Santa Ana, California 92707
0Bed
0Bath
1,742Sqft
7,148Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Dual Income Stream: Comprising two distinct units (2B/2B and 1B/1B), this duplex offers immediate potential for dual rental income, enhancing its investment appeal.
Top Cons:
Historic Property Age: Built in 1922, the property is over a century old, which typically implies a higher likelihood of requiring significant capital expenditures for system upgrades and deferred maintenance.
Compared to the nearby listings
Price:$549.0K vs avg $948.0K ($-399,000)7%
Size:1,742 sqft vs avg 2,604 sqft27%
Price/sqft:$315 vs avg $43013%
More Insights
Built in 1922 (103 years old).
Condition: Built in 1922, this property is over a century old. While some updates like vinyl windows, tile flooring, and laminate flooring are visible, they appear to be older renovations (likely 15-30 years ago) rather than recent. The overall aesthetic is dated, with older style ceiling fans and a lack of modern features. The exterior shows poor maintenance with a dry lawn and cluttered backyard. The kitchen and bathrooms are not clearly visible but are presumed to be outdated given the property's age and visible interior elements. The property is functional but requires significant updates and deferred maintenance, aligning with the 'Fair' condition criteria.
Year Built
1922
Close
-
List price
$549K
Original List price
$549K
Price/Sqft
$315
HOA
-
Days on market
-
Sold On
-
MLS number
PW25177032
Home ConditionFair
Features
Patio
View-
About this home
Excellent Investment Opportunity located in the heart of Santa Ana. 515 and 517 W. McFadden Ave. would be perfect for someone looking to add to their real estate portfolio. 517 W. McFadden Ave. (Front House) is a 2 Bedroom, 2 Bath home with 1,190 Sq. Ft. of living space. 515 W. McFadden Ave (Back House, facing the alley) is a 1 Bedroom, 1 Bathroom home with 552 sq. ft. of living space. Each unit has its own attached single car garage. DO NOT DISTURB THE OCCUPANT.
Condition Rating
Fair
Built in 1922, this property is over a century old. While some updates like vinyl windows, tile flooring, and laminate flooring are visible, they appear to be older renovations (likely 15-30 years ago) rather than recent. The overall aesthetic is dated, with older style ceiling fans and a lack of modern features. The exterior shows poor maintenance with a dry lawn and cluttered backyard. The kitchen and bathrooms are not clearly visible but are presumed to be outdated given the property's age and visible interior elements. The property is functional but requires significant updates and deferred maintenance, aligning with the 'Fair' condition criteria.
Pros & Cons
Pros
Dual Income Stream: Comprising two distinct units (2B/2B and 1B/1B), this duplex offers immediate potential for dual rental income, enhancing its investment appeal.
Strategic Urban Location: Situated 'in the heart of Santa Ana,' the property benefits from a central location, likely providing convenient access to amenities, transportation, and a strong tenant pool.
Dedicated Parking for Each Unit: The provision of an attached single-car garage for each unit is a significant amenity, offering convenience and added value for tenants.
Versatile Investment Opportunity: Explicitly marketed as an 'Excellent Investment Opportunity,' it's ideal for portfolio expansion or first-time income property buyers.
Flexible Unit Configuration: The mix of a 2-bedroom and a 1-bedroom unit allows for catering to diverse tenant demographics, potentially reducing vacancy risk.
Cons
Historic Property Age: Built in 1922, the property is over a century old, which typically implies a higher likelihood of requiring significant capital expenditures for system upgrades and deferred maintenance.
Restricted Access for Showings: The instruction 'DO NOT DISTURB THE OCCUPANT' indicates limited access for potential buyers to conduct thorough inspections and viewings, complicating the due diligence process.
Absence of Scenic Views: The property description explicitly states 'view: None,' meaning it lacks any desirable scenic outlooks that could otherwise enhance its market value or tenant appeal.