515 W Mcfadden Avenue, Santa Ana, California 92707, Santa Ana, 92707 - 3 bed, 3 bath
ACTIVE$549,000
515 W Mcfadden Avenue, Santa Ana, California 92707
3Beds
3Baths
1,742Sqft
7,148Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Income-Generating Duplex: The property features two distinct units (a 2-bedroom, 2-bath front house and a 1-bedroom, 1-bath back house), providing multiple income streams or a flexible owner-occupy with rental potential.
Top Cons:
Advanced Age of Property: Built in 1922, the property is over a century old, which likely implies a need for significant updates to major systems (plumbing, electrical, HVAC) and general modernization.
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 100 years old and shows significant signs of age and deferred maintenance. The visible interior features, such as dated ceramic tile flooring, basic ceiling fans, and vertical blinds, suggest that the property has not undergone major renovations in many decades. The exterior and backyard are neglected and cluttered. Crucially, there are no images of the kitchen or bathrooms, and the 'DO NOT DISTURB THE OCCUPANT' note implies these critical areas are likely in poor, outdated condition, requiring substantial rehabilitation and full renovation to meet modern standards. Major systems (electrical, plumbing, HVAC) are highly likely to be original or very old, necessitating significant upgrades.
Year Built
1922
Close
-
List price
$549K
Original List price
$549K
Price/Sqft
$315
HOA
-
Days on market
-
Sold On
-
MLS number
PW25177051
Home ConditionPoor
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
Poor
Built in 1922, this property is over 100 years old and shows significant signs of age and deferred maintenance. The visible interior features, such as dated ceramic tile flooring, basic ceiling fans, and vertical blinds, suggest that the property has not undergone major renovations in many decades. The exterior and backyard are neglected and cluttered. Crucially, there are no images of the kitchen or bathrooms, and the 'DO NOT DISTURB THE OCCUPANT' note implies these critical areas are likely in poor, outdated condition, requiring substantial rehabilitation and full renovation to meet modern standards. Major systems (electrical, plumbing, HVAC) are highly likely to be original or very old, necessitating significant upgrades.
Pros & Cons
Pros
Income-Generating Duplex: The property features two distinct units (a 2-bedroom, 2-bath front house and a 1-bedroom, 1-bath back house), providing multiple income streams or a flexible owner-occupy with rental potential.
Prime Investment Opportunity: Explicitly marketed as an 'Excellent Investment Opportunity' for those looking to expand their real estate portfolio, highlighting its potential for return.
Individual Garages: Each unit benefits from its own attached single-car garage, a valuable amenity for tenants offering convenient parking and storage.
Central Santa Ana Location: Situated 'in the heart of Santa Ana,' suggesting a desirable and accessible location with potential for strong tenant demand.
Generous Lot Size: The property sits on a substantial 7,148 sq. ft. lot, offering ample outdoor space or potential for future enhancements (subject to zoning).
Cons
Advanced Age of Property: Built in 1922, the property is over a century old, which likely implies a need for significant updates to major systems (plumbing, electrical, HVAC) and general modernization.
Occupied Status & Access Limitations: The 'DO NOT DISTURB THE OCCUPANT' instruction indicates restricted access for showings and inspections, potentially complicating buyer due diligence and limiting the pool of interested parties.
Potential for Deferred Maintenance: Given its age and status as an investment property, there is a high likelihood of requiring substantial repairs, renovations, or system upgrades, which could incur significant additional costs for the buyer.