315 S Garnsey St
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315 S Garnsey St
5 Unit Apartment Building $1,300,000 ($260,000/Unit) 3.18% Cap Rate Santa Ana, CA 92701
Investment Highlights
- Value- Add Investment Opportunity
- Projected ±51% in Rental Upside
- Amenities Include: 3 Garage Spaces, 4 Open Parking Spaces, and On-Site Laundry Facility
- 100% One-Bedroom Floorplans
- Potential ADU Conversion Opportunity
- Projected 6.0% CAP Rate on Market Rents, 5.2% Cash on Cash Return, 5.8% Total Return
Executive Summary
The Kirklen Investment Group, the exclusive listing agent, is thrilled to present 315 South Garnsey Street, a prime 5-unit multifamily investment property located in the desirable Heninger Park Neighborhood of Santa Ana, CA.
Built in 1964, this property features five one-bedroom apartments, complete with amenities such as garages and open parking, as well as an on-site laundry facility. This property presents a value-add opportunity with significant rental upside, making it an attractive investment for savvy buyers. Additionally, the property offers the opportunity to convert the garages into an Additional Dwelling Unit (ADU), further increasing the rental income potential. The buyer must verify this possibility with the City of Santa Ana to ensure compliance with local zoning and building regulations.
Its prime location is just 1.10 miles from Downtown Santa Ana and the lively 4th Street Market, providing tenants with easy access to local businesses, dining, and nightlife. Additionally, the property is within 1.80 miles of Santa Ana College, appealing to students and faculty. With close proximity to the 5 Interstate, residents can conveniently connect to major employment hubs across Orange and Los Angeles Counties. This investment not only promises attractive living spaces but also the potential for strong tenant demand in a thriving area.
*Call, Text, or Email for Marketing Package.*
*Drive by only. Do not walk the property or disturb the residents. Please contact the Listing Agent.*
Built in 1964, this property features five one-bedroom apartments, complete with amenities such as garages and open parking, as well as an on-site laundry facility. This property presents a value-add opportunity with significant rental upside, making it an attractive investment for savvy buyers. Additionally, the property offers the opportunity to convert the garages into an Additional Dwelling Unit (ADU), further increasing the rental income potential. The buyer must verify this possibility with the City of Santa Ana to ensure compliance with local zoning and building regulations.
Its prime location is just 1.10 miles from Downtown Santa Ana and the lively 4th Street Market, providing tenants with easy access to local businesses, dining, and nightlife. Additionally, the property is within 1.80 miles of Santa Ana College, appealing to students and faculty. With close proximity to the 5 Interstate, residents can conveniently connect to major employment hubs across Orange and Los Angeles Counties. This investment not only promises attractive living spaces but also the potential for strong tenant demand in a thriving area.
*Call, Text, or Email for Marketing Package.*
*Drive by only. Do not walk the property or disturb the residents. Please contact the Listing Agent.*
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $1,300,000 | Building Class | C |
| Price Per Unit | $260,000 | Lot Size | 0.13 AC |
| Sale Type | Investment | Building Size | 3,036 SF |
| Cap Rate | 3.18% | Average Occupancy | 97% |
| No. Units | 5 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1964 |
| Property Subtype | Apartment | Parking Ratio | 2.31/1,000 SF |
| Apartment Style | Low Rise |
| Price | $1,300,000 |
| Price Per Unit | $260,000 |
| Sale Type | Investment |
| Cap Rate | 3.18% |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.13 AC |
| Building Size | 3,036 SF |
| Average Occupancy | 97% |
| No. Stories | 2 |
| Year Built | 1964 |
| Parking Ratio | 2.31/1,000 SF |
Unit Amenities
- Balcony
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 5 | - | - |
PROPERTY TAXES
| Parcel Number | 008-202-17 | Total Assessment | $877,554 (2024) |
| Land Assessment | $711,851 (2024) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $165,703 (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
008-202-17
Land Assessment
$711,851 (2024)
Improvements Assessment
$165,703 (2024)
Total Assessment
$877,554 (2024)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2023
zoning
| Zoning Code | R3, Santa Ana |
| R3, Santa Ana |
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315 S Garnsey St
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