2236 E Franzen,Santa Ana, CA 92705
Santa Ana, CA 92705
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 Orange County's most established rental markets.
Details
| MLS # | PW26176654 |
|---|---|
| Listing Type | For Sale |
| Style | Condominium |
| Sub-Type | Resale |
| Status | Active Under Contract |
| Year | 1969 |
| Days On Site | 25 |
| Listing Provided By | Morgan Skenderian | Rick Applebaum |
Features
| SQ Feet | 4,213 |
|---|---|
| Garage | 4 |
| Story(s) | 2 |
| Units | 4 |
| Building(s) | 1 |
| Acreage | 0.18 |
Interior
| Cooling | Wall Window Units |
|---|---|
| Cooling Yes / No | Yes |
| Interior Features | Balcony |
| Fireplace Yes / No | Yes |
Parking
| Garage Yes / No | Yes |
|---|
Utilities
| Sewer | Public Sewer |
|---|
Location
| Community Features | Biking, Curbs, Dog Park, Foothills, Gutters, Park, Sidewalks |
|---|
Area Information
| State | CA |
|---|---|
| County | Orange |
| City | Santa Ana |
| Zip Code | 92705 |
| Area | 70 Santa Ana North of First |
| Community Name | Other |
| Listing VS Median (in Other) | |
Price: $1,595,000 low | high Med: $800,000 sqft: 4,213 low | high Med: 1,490 $ / sqft: $379 low | high Med: $540 On site: 25 low | high Med: 34 | |
Market Activity 92705
Request a showing
Request a showing
Contact
Learn More About This Property
| State | CA |
|---|---|
| County | Orange |
| City | Santa Ana |
| Zip Code | 92705 |
| Area | 70 Santa Ana North of First |
| Community Name | Other |
| Listing VS Median (in Other) | |
Price: $1,595,000 low | high Med: $800,000 sqft: 4,213 low | high Med: 1,490 $ / sqft: $379 low | high Med: $540 On site: 25 low | high Med: 34 | |
 | $1,499,0002318 FranzenSanta Ana, CA 92705 |