620 Virginia Avenue, Santa Ana, California 92706, Santa Ana, 92706 - 1 bed, 1 bath
ACTIVE UNDER CONTRACT$799,000
620 Virginia Avenue, Santa Ana, California 92706
1Bed
1Bath
888Sqft
6,080Lot
Price Vs. Estimate
The estimated value ($661,488.625) is $137,511.375 (17%) lower than the list price ($799,000). This property may be overpriced.
Key pros and cons
Top Pros:
Income Potential: The property features both a SFR and a newly built ADU, offering significant income-generating potential through rental opportunities.
Top Cons:
Project Completion Required: The property requires completion, meaning additional investment of time and capital is needed to realize its full potential.
Compared to the nearby listings
Price:$799.0K vs avg $1.20M ($-401,000)3%
Size:888 sqft vs avg 1,704 sqft2%
Price/sqft:$900 vs avg $69893%
More Insights
Built in 1937 (88 years old).
Condition: The property was built in 1937 and is described as an investor opportunity to complete a project. The images show exposed framing, unfinished interiors, and what appears to be water damage. The ADU is a new build, but the main structure requires substantial repairs and rehabilitation.
Year Built
1937
Close
-
List price
$799K
Original List price
$899K
Price/Sqft
$900
HOA
-
Days on market
-
Sold On
-
MLS number
PW25080595
Home ConditionPoor
Features
View-
About this home
PRICE REDUCED ON THIS AMAZING INVESTOR OPPORTUNITY!! Complete this project and reap the rewards of what can be an exceptional income-generating property! This property offers the savvy investor a unique opportunity to complete a 900 square foot 2 bedroom 1 bath SFR + a 700 square foot 1 bedroom 1 bath ADU in Park Santiago, one of the most sought after neighborhoods in the city of Santa Ana! The ADU is an all-new build including plumbing, electrical, driveway, garage pad etc. Don't miss out on this great opportunity!
Condition Rating
Poor
The property was built in 1937 and is described as an investor opportunity to complete a project. The images show exposed framing, unfinished interiors, and what appears to be water damage. The ADU is a new build, but the main structure requires substantial repairs and rehabilitation.
Pros & Cons
Pros
Income Potential: The property features both a SFR and a newly built ADU, offering significant income-generating potential through rental opportunities.
Desirable Location: Located in the highly sought-after Park Santiago neighborhood of Santa Ana, known for its desirability and strong property values.
New ADU Construction: The ADU is a completely new build, including new plumbing, electrical, driveway, and garage pad, minimizing immediate maintenance concerns.
Investor Opportunity: Presents a unique opportunity for investors to complete the project and capitalize on the potential income and increased property value.
Price Reduction: The recent price reduction makes this property a more attractive investment opportunity.
Cons
Project Completion Required: The property requires completion, meaning additional investment of time and capital is needed to realize its full potential.
Limited Information: The description lacks specific details about the current state of the SFR and the remaining work required for both units.
Small Square Footage: The square footage of both the SFR and ADU are relatively small, which might limit appeal to some renters or buyers.