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$1,595,000
Est. payment /mo
8 Beds
7 Baths
7,916 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID PW26176654
Bedrooms 8
Lot Size 7,916 Sqft
Property Sub-Type Res Income 2-4 Units
Property Description
Located in a highly desirable neighborhood of Santa Ana, near the Tustin and Orange borders, 2236 E. Franzen Avenue presents investors with the opportunity to acquire a well-maintained, fully occupied multifamily asset featuring an attractive mix of one-, two-, and three-bedroom apartment homes. Averaging more than 1,050 square feet per unit, the spacious floor plans appeal to a broad tenant base and offer a significant advantage over many competing properties in the area. The property provides a variety of sought-after resident amenities, including an on-site laundry facility, private patios and balconies, wall air conditioning, and a fireplace in the three-bedroom unit. Parking is well accommodated with four single-car garages, two open parking spaces, and ample street parking for residents and guests. The property is also individually metered for electricity and gas, helping to minimize owner-paid utility expenses. Ownership has completed several capital improvements, including the re-plumbing of one unit in 2022, reconstruction of the balconies, and installation of new fencing surrounding most of the private patios, reducing near-term capital expenditure requirements. From an investment perspective, 2236 E. Franzen Avenue offers compelling upside potential. Current rental rates are approximately 22% below market, providing a clear value-add opportunity through the implementation of market rents as units turn over. Combined with its desirable location, generous unit sizes, and strong in-place occupancy, the property represents an attractive long-term investment in one of
Location
State CA
County Orange
Zoning Assessor
Direction North of 1st Street and East of Tustin Avenue
Interior
Cooling Wall/Window
Fireplace No
Exterior
View Y/N No
Building
Story 2
Level or Stories 2
Others
Senior Community No
Tax ID 39613146
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Listed by Rick Applebaum, DRE#01273871 Morgan Skenderian
Nearby School & Business
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