Santa Corona North Apartments | 1910 N Spurgeon St
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Santa Corona North Apartments 1910 N Spurgeon St
24 Unit Apartment Building $5,472,000 ($228,000/Unit) Santa Ana, CA 92706
Investment Highlights
- Mix of Studio & One-Bedroom Floor Plans | Select Units Feature a Private Balcony
- Attractive Location, Situated Between Floral Park & French Park
- Just One Mile North of the Abundance of Retail, Dining, & Entertainment Options on 4th Street
- Gated Access & an On-Site Laundry Facility | Ample Parking in Gated Parking Garage
- 0.85 Miles from the Santa Ana Regional Transportation Center, a Combined Transportation Center Offering Access to Amtrak, Metrolink, OCTA, & More
- Within 1.25 Miles of Santa Ana College, the 3rd Top Employer in the City with More Than 3,500 Employees per Santa Ana’s 2022 ACFR
Executive Summary
The Leeson Group of Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire Santa Corona North Apartments, a 24-unit multifamily investment property located in Santa Ana, CA.
With a prime Santa Ana location, situated between Floral Park and French Park, residents of Santa Corona North Apartments are at the epicenter of all that Santa Ana has to offer. The property is surrounded by an abundance of retail, dining, and entertainment options along 4th Street, 17th Street, and Main Street. Additionally, the property is just under 1.25 miles from Santa Ana College, the 3rd top employer within the city, per Santa Ana’s 2023 Annual Comprehensive Financial Report. Furthermore, residents enjoy the property’s close proximity to Interstate 5, connecting residents to major employment hubs throughout Orange and Los Angeles Counties.
Built in 1979, Santa Corona North Apartments offers a mix of studio and one-bedroom floor plans on a spacious 0.36-acre lot. The property offers highly desirable amenities including private balconies (select units), a gated parking garage and an on-site laundry facility. With current rents below market rates, Santa Corona North Apartments represents a unique value-add opportunity through the execution of a property renovation plan.
With a prime Santa Ana location and ample upside, Santa Corona North Apartments represents an enticing opportunity for a new owner.
*Drive by only. Do not walk the property or disturb the residents. Please contact the Listing Agent(s).*
With a prime Santa Ana location, situated between Floral Park and French Park, residents of Santa Corona North Apartments are at the epicenter of all that Santa Ana has to offer. The property is surrounded by an abundance of retail, dining, and entertainment options along 4th Street, 17th Street, and Main Street. Additionally, the property is just under 1.25 miles from Santa Ana College, the 3rd top employer within the city, per Santa Ana’s 2023 Annual Comprehensive Financial Report. Furthermore, residents enjoy the property’s close proximity to Interstate 5, connecting residents to major employment hubs throughout Orange and Los Angeles Counties.
Built in 1979, Santa Corona North Apartments offers a mix of studio and one-bedroom floor plans on a spacious 0.36-acre lot. The property offers highly desirable amenities including private balconies (select units), a gated parking garage and an on-site laundry facility. With current rents below market rates, Santa Corona North Apartments represents a unique value-add opportunity through the execution of a property renovation plan.
With a prime Santa Ana location and ample upside, Santa Corona North Apartments represents an enticing opportunity for a new owner.
*Drive by only. Do not walk the property or disturb the residents. Please contact the Listing Agent(s).*
Financial Summary (Actual - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$387,818
|
$24.88
|
| Other Income |
$4,800
|
$0.31
|
| Vacancy Loss |
$11,635
|
$0.75
|
| Effective Gross Income |
$380,983
|
$24.45
|
| Taxes |
$60,629
|
$3.89
|
| Operating Expenses |
$98,760
|
$6.34
|
| Total Expenses |
$159,389
|
$10.23
|
| Net Operating Income |
$221,594
|
$14.22
|
Financial Summary (Actual - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $387,818 |
| Annual Per SF | $24.88 |
| Other Income | |
|---|---|
| Annual | $4,800 |
| Annual Per SF | $0.31 |
| Vacancy Loss | |
|---|---|
| Annual | $11,635 |
| Annual Per SF | $0.75 |
| Effective Gross Income | |
|---|---|
| Annual | $380,983 |
| Annual Per SF | $24.45 |
| Taxes | |
|---|---|
| Annual | $60,629 |
| Annual Per SF | $3.89 |
| Operating Expenses | |
|---|---|
| Annual | $98,760 |
| Annual Per SF | $6.34 |
| Total Expenses | |
|---|---|
| Annual | $159,389 |
| Annual Per SF | $10.23 |
| Net Operating Income | |
|---|---|
| Annual | $221,594 |
| Annual Per SF | $14.22 |
Property Facts
| Price | $5,472,000 | Building Class | C |
| Price Per Unit | $228,000 | Lot Size | 0.36 AC |
| Sale Type | Investment | Building Size | 15,585 SF |
| No. Units | 24 | Average Occupancy | 96% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1979 |
| Apartment Style | Low Rise | Parking Ratio | 1.08/1,000 SF |
| Price | $5,472,000 |
| Price Per Unit | $228,000 |
| Sale Type | Investment |
| No. Units | 24 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.36 AC |
| Building Size | 15,585 SF |
| Average Occupancy | 96% |
| No. Stories | 2 |
| Year Built | 1979 |
| Parking Ratio | 1.08/1,000 SF |
Unit Amenities
- Air Conditioning
- Balcony
- Kitchen
- Refrigerator
- Oven
- Range
- Patio
Site Amenities
- Courtyard
- Laundry Facilities
- Property Manager on Site
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 9 | - | 550 |
| 1+1 | 15 | - | 700 |
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Walk Score ®
Very Walkable (82)
PROPERTY TAXES
| Parcel Number | 003-141-40 | Total Assessment | $3,812,094 (2023) |
| Land Assessment | $2,079,327 (2023) | Annual Taxes | $60,629 ($3.89/SF) |
| Improvements Assessment | $1,732,767 (2023) | Tax Year | 2024 Payable 2024 |
PROPERTY TAXES
Parcel Number
003-141-40
Land Assessment
$2,079,327 (2023)
Improvements Assessment
$1,732,767 (2023)
Total Assessment
$3,812,094 (2023)
Annual Taxes
$60,629 ($3.89/SF)
Tax Year
2024 Payable 2024
zoning
| Zoning Code | R3 (multiple-family residential) |
| R3 (multiple-family residential) |
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Santa Corona North Apartments | 1910 N Spurgeon St
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