924 S Broadway, Santa Ana, California 92701, Santa Ana, 92701 - 0 bed, 0 bath
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Santa Ana, California 92701
This High-Potential Investment Opportunity is listed at $829,000, positioned slightly above the $790,272 Fair Market Value. While the property requires capital improvements to reach its full potential, its Fair Condition Rating is offset by significant ADU & Development Potential on a 6,970 sq. ft. lot. With a projected $6,000 monthly gross income, this asset is ideal for Buy-and-Hold Investors seeking rental yield or Owner-Occupants utilizing the vacant unit for a house-hack strategy to offset mortgage costs.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 924 S Broadway Subject | $829,000* List Price | 0 | 0 | 1,490 | $530 | - |
A 435 S Ross Street Sold | $850,000 | 0 | 0 | 1,790 | $475 | 0.4 mi |
B 412 E Camile Active | $1,049,900 List Price | 0 | 0 | 1,878 | $559 | 0.6 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Originally built in 1940, the property is dated but functional. While the interior images show some recent cosmetic updates such as new laminate flooring and fresh paint in at least one unit, the overall property requires further improvements to kitchens, bathrooms, and likely older systems to reach its full rental potential. It is move-in ready but fits the 'Fair' criteria due to its age and the need for minor updates throughout the multi-unit site.
The property sits on a generous 6,970 sq. ft. lot with two separate garage structures, offering significant value-add potential through ADU conversions to increase unit count and rental yield.
With one unit currently vacant, the property provides a rare opportunity for an owner-occupant to 'house hack' and offset their mortgage, or for an investor to immediately lease at current market rates.
Located in a high-demand Santa Ana submarket with low vacancy, the property has the potential to generate approximately $6,000 in gross monthly income, offering a robust return on investment.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =6970, other record lot size in square feet = 7100.
Built in 1940, the property may require significant capital expenditures for modernizing systems and structural improvements to meet contemporary tenant expectations and maximize rents.
The local assigned schools have low ratings (ranging from 2 to 4), which may limit the property's appeal to long-term family tenants and impact future resale value.
One of those investment opportunities in Santa Ana that has multiple ways to create value. Located in an area with strong rental demand and low vacancy, this property sits on a large, usable 7,000 sq. ft. lot with plenty of room to grow. The property consists of three units: 2-bedroom 1-bath unit, a 1-bedroom 1-bath unit, and a move-in-ready studio above the rear garage. Continue collecting income from the occupied 2-bedroom unit while renovating the front 1-bedroom unit and maximizing the studio's rental potential to achieve top market rents. This flexible setup makes it an excellent opportunity for an owner-occupant looking to offset their mortgage with rental income or an investor seeking to maximize cash flow at market rates. The real story here is the upside. The property includes two separate garage structures that may offer future ADU conversion potential (buyer to verify), giving buyers the opportunity to add additional units and increase income over time. With some improvements, the property has the potential to bring in approximately $6,200 per month in gross rental income. Large lots, multiple units, ample parking, and future development potential are getting harder to find in Santa Ana. Whether you're looking to expand your portfolio, complete a 1031 exchange, or live in one unit while collecting rent from two additional units, this property offers flexibility with room to improve and grow.
No exterior & parking available.
Grades K-5 • 0.4 mi
Grades K-5 • 0.5 mi
Grades 6-8 • 0.1 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 4.0 |
| Baths | 0.0 | 2.5 |
| Square foot | 1,490 | 2,400 |
| Lot Size | 6,970 | 8,139.5 |
| Price | $829.0K | $1.05M |
| Price per sq ft | $556 | $429 |
| Built year | 1940 | 1952 |
| HOA | $0 | $0 |
| Days on market | 21 | 100 |
Jul 1, 2026
$829,000
Initial Listing