
Santa Ana, California 92701
This Quadruplex Residential Income Asset is a High-Potential Investment Opportunity, listed at $1,300,000—positioned well above the $1,243,874 Fair Market Value by 4%. Despite the premium, the property features a Mint Condition Rating with significant interior and exterior renovations, including new A/C and appliances. The SD-84 Zoning and 6,141 SF Lot provide substantial development upside, while the proximity to Downtown Santa Ana and major transit hubs ensures consistent rental demand. This is an ideal acquisition for Buy-and-Hold Investors or Portfolio Managers seeking a turnkey, income-generating asset.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 626 E 3rd Subject | $1,300,000* List Price | 0 | 0 | 1,740 | $715 | - |
A 515 S Van Ness Avenue 513 Sold | $1,040,000 | 0 | 0 | 1,597 | $651 | 0.8 mi |
B 626 N Grand Active | $1,200,000 List Price | 0 | 0 | 1,519 | $790 | 0.6 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
Although built in 1920, the property is a turnkey investment that has undergone significant recent renovations including new kitchens, bathrooms, flooring, double-pane windows, and A/C units, placing it in mint condition.
The property features four fully updated units with new kitchens, bathrooms, flooring, and A/C, offering a move-in ready investment with minimal immediate capital expenditure.
Ideally situated within walking distance of Downtown Santa Ana's amenities and major transit hubs like Amtrak and Metrolink, ensuring high tenant demand.
The large 6,141 SF lot and SD-84 zoning provide a significant opportunity for the potential addition of more units, allowing for future density and yield enhancement.
The property is subject to City of Santa Ana rent control guidelines, which limits the owner's flexibility regarding annual rental increases.
The assigned public schools for this address have relatively low performance ratings, which may affect the property's long-term appeal to families.
We are pleased to present the opportunity to acquire a turnkey investment property located at 626 E. 3rd St. in Santa Ana. The property consists of four (4) fully updated one-bedroom one-bathroom units that have undergone significant interior and exterior renovations by the current owner. Property upgrades include new appliances, flooring, kitchens, bathrooms, doors, double-pane windows, paint, and A/C units, all of which have been completed to code. A new owner will benefit from all units currently achieving market rents, allowing for ease of management and future annual rental increases in accordance with the City of Santa Ana rent control guidelines. There is an ability to further enhance yield with the implementation of a RUBS system to minimize the expense for water and trash. The property exudes pride of ownership and is ideally situated within walking distance of Downtown Santa Ana. The asset also benefits from a large ±6,141 SF lot and is zoned SD-84, which may allow for the addition of more units to the site - buyer to verify with the City of Santa Ana. Additionally, the property is conveniently located near public transportation, including Amtrak and Metrolink stations nearby. Residents are within walking distance to numerous downtown amenities, including 4th Street Market, The Copper Door, The Yost Theater, The Frida Cinema, Santa Ana Zoo, Main Place Mall, Riverview Golf Course, along with a variety of restaurants, entertainment, and nightlife destinations. The property also offers convenient access to the 5, 55, and 22 freeways, providing an easy commute throughout Orange County and surrounding areas. DRIVE BY ONLY. Please do not disturb the tenants. Call Listing Agent.
No exterior & parking available.
Grades K-5 • 0.2 mi
Grades K-5 • 0.4 mi
Grades K-5 • 1.0 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 0.0 | 50% |
| Baths | 0.0 | 0.0 | 50% |
| Square foot | 1,740 | 2,031.5 | 25% |
| Lot Size | 6,141 | 6,773 | 50% |
| Price | $1.30M | $1.06M | 63% |
| Price per sq ft | $747 | $398 | 88% |
| Built year | 1920 | 1925 | 25% |
| HOA | $0 | $0 | 50% |
| Days on market | 9 | 210 | 13% |
May 28, 2026
$1,300,000
Initial Listing
May 23, 2023
$830,000
Public Record