1423 S Sycamore St

Santa Ana, the county seat of Orange County, is a vibrant and dynamic city known for its history, cultural diversity, and strategic location. As the second-largest city in Orange County, with a population exceeding 330,000 residents, Santa Ana has earned its nickname as “Downtown Orange County.” Santa Ana’s strategic location, robust economy, and cultural landscape make it a cornerstone of Orange County’s identity. Santa Ana’s central location places it within 30 minutes of most major Southern California destinations, making it a highly desirable place to live and work. The city’s density and transportation infrastructure support a sustainable lifestyle, allowing residents and employees to commute via bus, bicycle, or on foot. Santa Ana offers a variety of cultural and recreational attractions that appeal to residents and visitors alike such as: Downtown Santa Ana, Artist’s Village, Discovery Cube Orange County, Heritage Museum of Orange County, Santa Ana Zoo, and Bowers Museum. The city’s housing options, energetic nightlife, and cultural amenities make it an attractive destination for a diverse population. Santa Ana continues to grow and evolve, offering an exceptional quality of life and numerous opportunities for residents, businesses, and investors. Santa Ana is home to over 30,000 businesses that collectively employ more than 150,000 people. The city’s economic vitality is bolstered by its diverse business base and corporate headquarters of major companies, including Behr Paint and First American Financial Corporation. This economic strength is reflected in Santa Ana’s AA issuer credit rating assigned by Standard & Poor’s in 2016.1419-1423 represents the opportunity to acquire 12 units situated across two adjacent parcels just one block off Main Street in Santa Ana. This well-maintained property is comprised of 100% 2 bed + 1 bath units averaging approximately 750 square feet each. Built in 1953, the buildings boast a total of 8,995 square feet with aggregate lot square footage of 12,502. Each unit is rented with one off-street parking space. Interior plumbing was updated on both buildings in 2021 and includes a 10-year warranty that allows for a one-time transfer to a new buyer. Water shutoff valves were also installed inside each unit. Both buildings have passed SB 721 balcony inspections. Tenants enjoy living on Sycamore because of it’s convenient proximity to both Main Street and Edinger Avenue. The property is within a 5-minute walk of shops and restaurants including: DG Market, Superior Grocers, Family Nails, Pizza Trio, Jack in the Box, KFC, Tierra Mia Coffee and many more. The units are generating strong cash flow with a 5.87% cap rate. With a minor investment in fixtures and aesthetics a buyer will be able to capture a significant amount of upside.