Santa Ana, CA 92701,223 S Orange
Santa Ana, CA 92701,223 S Orange
Santa Ana, CA 92701,223 S Orange
Santa Ana, CA 92701,223 S Orange
Santa Ana, CA 92701,223 S Orange
Santa Ana, CA 92701,223 S Orange
REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
Sat
24
Jan
Sun
25
Jan
Mon
26
Jan
Denise Hicks

Denise Hicks

+1(530) 428-8923
$ 1,350,000
Est. payment | /mo

6,534 Sqft Lot

Save
$ 1,350,000
Est. payment | /mo
Save

6,534 Sqft Lot

Key Details

Property Type Apartment

Sub Type Apartment

Listing Status Active Under Contract

Purchase Type For Sale

MLS Listing ID OC25265433

HOA Y/N No

Year Built 1963

Lot Size 6,534 Sqft

Property Sub-Type Apartment

Property Description

Presenting 223 South Orange Avenue, a high-cash-flow five-unit multifamily investment property located in the desirable Pacific Park neighborhood of Santa Ana, California. The property features a spacious Victorian front house configured as a five-bedroom, five-bath unit, complemented by a rear four-plex offering efficient studio floorplans designed to maximize rental income and promote long-term occupancy stability. Residents enjoy desirable amenities including an on-site laundry facility, a shared central courtyard, four individual garage parking spaces, and security screen doors. The property has been professionally managed throughout ownership, ensuring consistent performance and reliable cash flow. A Ratio Utility Billing System (RUBS) is in place, effectively reducing ownership expenses and improving operating efficiency. Recent capital improvements include upgraded electrical panel on the front house. While the property provides strong in-place income, additional interior and exterior renovations present a clear opportunity to further enhance value, elevate curb appeal, and achieve higher market rents. The garages offer an additional value-add opportunity in which buyers may rent them out for supplemental income or explore converting them into an ADU to further maximize returns (buyer to verify all ADU feasibility with the City of Santa Ana). The asset currently generates $129,775 in gross annual income ($10,815 per month), reflecting a strong 10.40 Gross Income Multiplier (GIM) with meaningful upside through strategic improvements and rent repositioning. Ideally located less than half a mile from Downtown Santa Ana and 4th Street Market, the property offers exceptional connectivity to employment, education, and entertainment corridors. Santa Ana College, MainPlace Mall, and the new OC Streetcar line are all just minutes away, providing residents with convenient transit options and everyday amenities. Proximity to the I-5 and CA-22 freeways further enhances access to major job centers throughout Orange and Los Angeles Counties. Combining stable in-place income, low operating costs, and a prime central location, 223 South Orange Avenue presents investors with a compelling opportunity to acquire a turnkey multifamily asset offering reliable cash flow today and substantial long-term growth potential.

Location

State CA

County Orange

Area 699 - Not Defined

Interior

Fireplace No

Laundry Common Area

Exterior

Garage Spaces 4.0

Garage Description 4.0

Pool None

Community Features Curbs, Storm Drain(s), Street Lights, Sidewalks

Total Parking Spaces 4

Private Pool No

Building

Lot Description 2-5 Units/Acre, Corner Lot

Story 2

Entry Level Two

Sewer Public Sewer

Water Public

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 40409307

Energy Description 2420.0

Acceptable Financing Cash, Cash to New Loan, 1031 Exchange

Listing Terms Cash, Cash to New Loan, 1031 Exchange

Special Listing Condition Standard

CRMLS – RECore
Listed by Justin Butler Kirklen Investment Group 949-202-7255

Schools and Properties Nearby

SCHOOLSPROPERTIES
Elementary Schools 20
  • 8

    Jim Thorpe Fundamental

    Public | KG - 5

  • 7

    Earl Warren Elementary School

    Public | KG - 6

  • 7

    El Sol Santa Ana Science and Arts Academy

    Public | KG - 8

  • 7

    John Muir Fundamental Elementary School

    Public | KG - 5

  • 7

    Heritage Elementary School

    Public | KG - 5

  • 6

    Riverdale Elementary School

    Public | KG - 6

  • 6

    Gonzalo Felicitas Mendez Fundamental Intermediate School

    Public | 5 - 8

  • 6

    Franklin Elementary School

    Public | KG - 5

  • 6

    West Orange Elementary School K - 5

    Public | KG - 5

  • 6

    Walker Elementary School

    Public | KG - 5

  • 5

    Dwight D. Eisenhower Elementary School

    Public | KG - 6

  • 5

    Lampson Elementary School K - 5

    Public | KG - 5

  • 5

    Greenville Fundamental Elementary School

    Public | KG - 5

  • 5

    Carl Harvey Elementary School

    Public | KG - 5

  • 5

    Santiago K - 8 School

    Public | KG - 8

  • 5

    Martin Elementary School

    Public | KG - 5

  • 5

    Pio Pico Elementary School

    Public | KG - 5

  • 5

    Orange County Educational Arts Academy

    Public | KG - 8

  • 5

    Hoover Elementary School

    Public | KG - 5

  • 5

    Madison Elementary School

    Public | KG - 5

Middle Schools 14
  • 10

    Ocsa

    Public | 7 - 12

  • 6

    Leroy L. Doig Intermediate School

    Public | 7 - 8

  • 5

    Douglas Macarthur Fundamental Intermediate School

    Public | 6 - 8

  • 5

    Columbus Tustin Middle School

    Public | 6 - 8

  • 4

    McFadden Intermediate School

    Public | 6 - 8

  • 4

    Raymond A. Villa Fundamental Intermediate School

    Public | 6 - 8

  • 4

    Sycamore High (Alternative)

    Public | 7 - 12

  • 4

    Currie Middle School

    Public | 6 - 8

  • 1

    Carr Intermediate School

    Public | 6 - 8

  • 1

    Willard Intermediate School

    Public | 6 - 8

  • 1

    Lathrop Intermediate School

    Public | 6 - 8

  • 1

    Sierra Preparatory Academy

    Public | 6 - 8

  • 0

    Community Day Intermediate and High School

    Public | 7 - 12

  • 0

    Ousd Community Day

    Public | 7 - 12

High Schools 14
  • 9

    Nova Academy

    Public | 9 - 12

  • 8

    The Academy

    Public | 9 - 12

  • 8

    Middle College High School

    Public | 9 - 12

  • 7

    Hector G. Godinez

    Public | 9 - 12

  • 6

    Segerstrom High School

    Public | 9 - 12

  • 4

    Saddleback High School

    Public | 9 - 12

  • 3

    Valley High School

    Public | 9 - 12

  • 3

    Century High School

    Public | 9 - 12

  • 2

    Santa Ana High School

    Public | 9 - 12

  • 0

    Lorin Griset Academy

    Public | 9 - 12

  • 0

    Mater Dei High School

    Private | 9 - 12

  • 0

    Central Orange County Cte Partnership (Ctep)

    Public | 10 - 12

  • 0

    Cesar E. Chavez High School

    Public | 9 - 12

  • 0

    Hillview High (Continuation)

    Public | 9 - 12

School and business data provided by Attom Data.

Learn More About LPT Realty

Name
Phone*
Message

By checking this box, I agree by electronic signature to the Electronic Disclosure Consent Agreement; to receive recurring marketing communication from or on behalf of Denise Hicks, including auto-dialed calls, texts, and artificial/prerecorded voice messages (message frequency varies; data rates may apply; reply "STOP" to opt-out of texts or "HELP" for assistance); and to the Terms of Service and Privacy Policy of this website. Consent not required to make a purchase. I understand that I can call to obtain direct assistance.

Tour the Home

223 S Orange