Santa Ana South of First (69) Homes with Apartment Subtype

Welcome to Santa Ana South of First, a vibrant neighborhood nestled in the heart of Orange County, California. Known for its rich cultural diversity and dynamic community spirit, this area is an ideal blend of urban convenience and suburban charm. With its close proximity to downtown Santa Ana, residents enjoy easy access to a plethora of dining, shopping, and entertainment options, making it a lively place to call home.

One of the standout features of this region is its unique housing options, particularly the homes with an apartment subtype. These residences offer an exceptional opportunity for both homeowners and investors alike. With a variety of layouts and sizes, these properties are perfect for multi-generational living or for those looking to generate rental income. Imagine having the flexibility to live in one unit while renting out another, providing both comfort and financial benefits.

Santa Ana South of First is not only about the homes; it’s also about the lifestyle. The area boasts beautiful parks, community events, and a rich tapestry of local art and culture. Whether you're strolling through the historic downtown district or enjoying a weekend at one of the many nearby parks, there’s always something to do.

With its prime location, diverse housing options, and a welcoming community, Santa Ana South of First is more than just a place to live; it's a place to thrive. Explore the possibilities today and discover why this neighborhood is the perfect fit for your next home!

Newest Santa Ana South of First (69) Homes with Apartment Subtype

$1,900,000

OC26225906 MLS ⋅ Active Status

Unlock a rare, high-yield multifamily asset in the heart of Orange County. Located at 2732 W. Orion Ave, Santa Ana, this coveted "Covington Style" fourplex stands out as a prime investment built for strong rental demand and long-term appreciation. The diverse, high-occupancy unit mix features one 3BR/2BA, one 2BR/2BA, one 2BR/1.5BA, and one 2BR/1BA unit—all meticulously maintained, showcasing true pride of ownership. Investors can immediately boost their bottom line and maximize yields by implementing a RUBS system for water and trash utilities. Further driving tenant retention are four private, dedicated garages that offer lucrative secondary income potential. Positioned just minutes from world-class destinations like South Coast Plaza, Segerstrom Center, and John Wayne Airport, with effortless access to the 405, 55, and 5 freeways, this property commands premium rental rates.

2732 W Orion, Santa Ana

$2,100,000

PW26222716 MLS ⋅ Active Status

1109 S. Standard Avenue is a 10-unit multifamily investment property located on a major thoroughfare in Santa Ana, CA. Constructed with 6,004 net rentable square feet on a 7,303 square foot lot, the asset features a uniform unit mix of ten 1-bedroom / 1-bathroom units, on-site laundry facilities, and 10 open parking spaces. Current ownership has recently completed several capital improvement projects including SB 721 compliance, deck repairs and railing replacements, new windows, new water heater, and new exterior paint, improving curb appeal and helping to minimize near-term capital expenditures. Situated directly next door to Gerardo Mouet Park, offering tenants basketball courts, a skate park, a playground, and exercise areas, the property provides immediate access to community amenities. Held by long-term ownership with a motivated seller, the property is offered at a discounted purchase price due to low current rents, presenting a compelling value-add opportunity with a 62% projected rental upside.

1109 S Standard Avenue, Santa Ana

$2,200,000

PW26222660 MLS ⋅ Active Status

809 S. Townsend Street is a 10-unit, 1961-vintage multifamily asset in Santa Ana totaling 6,840 SF of net rentable area on a 12,240 SF lot. The property is 100% occupied with a mix of six 1BR/1BA and four 2BR/1BA units, each with a private garage plus on-site laundry and ample street parking. Current ownership has recently completed several capital improvement projects including SB 721 compliance, deck repairs, new railings, new windows, and a new water heater, improving curb appeal and helping to minimize near-term capital expenditures. Current rent levels project to have 57% upside, with an 8.5% pro forma cap rate on market rents. Long-term ownership and a motivated seller create a clear value-add path for investors seeking stable in-place income with substantial rental upside in a high-demand Orange County submarket.

809 S Townsend Street, Santa Ana

$2,540,000

PW26219588 MLS ⋅ Active Status

Excellent opportunity to acquire a 10-unit multifamily building on the border of Santa Ana and Tustin. Located at 549 N Tustin Ave, this multifamily asset was built in 1976. It offers ten large and well maintained 1 bedroom + 1 bathroom units. The building boasts a total of 7,040 gross rentable square feet and is part of a community of 35 similar buildings. The complex is managed by an HOA which staffs an on-site management office. Gated access, two pool areas, a large playground, off-street parking and on-site laundry facilities make the property particularly appealing for renters and landlords. The property conveniently located right on the border of Santa Ana and Tustin with onramps to both the 55 and 5 freeways a couple of minutes away. The property is walking distance to Subway Restaurant, Country Café, Noodle Place and more. Just to the North of the property are multiple hospitals and medical clinics offering convenient care and job opportunities. Sports fans will find the location particularly appealing due to its convenient location about fifteen minutes by car to The Honda Center and Angel Stadium. For the right investor, this multifamily asset represents a the perfect opportunity to generate years of steady cash flow with minimal management or maintenance responsibilities. With the HOA handling management, maintenance and leasing this is the perfect passive investment for an owner who is looking for a completely hands-off ownership experience. As units turn over, the upside in rental income will be easily achievable.

549 N Tustin Avenue, Santa Ana

$2,975,000

PW26219394 MLS ⋅ Active Status

409-415 E. Pine Street is a 12-unit multifamily property located in Santa Ana, CA, offering investors an opportunity to acquire a well-located Orange County asset. Built in 1983, the property consists of two contiguous parcels totaling 8,628 square feet of rentable area situated on a 14,000 square foot lot. The community features a desirable unit mix of four 1BR/1BA units and eight 2BR/1BA units, along with amenities including on-site laundry, gated entry, individual water heaters, and patios/balconies in select units. Recent capital improvements include roof restoration, HVAC replacements, water heater replacement, and interior updates to select units. The property is offered at a 6% CAP Rate on current income with 25% rental upside, providing investors with additional growth potential through continued upgrades, turnover, and rent increases.

409 E Pine Street, Santa Ana

$4,300,000

OC26212080 MLS ⋅ Active Status

7.28% Market CAP. 3.35% Current CAP. Only $215,000 per unit! We are pleased to present 1433-37 S Standard Ave, a 20-unit multifamily investment opportunity located in the heart of Santa Ana. The property features a desirable mix of one-bed and two-bed units, providing a balanced unit composition that appeals to a broad segment of the rental market. With its larger unit count and established location, the asset offers investors the opportunity to acquire scale within one of Orange County’s strongest multifamily submarkets. The property recently got a new roof installed on the entire building, reducing near-term capital expenditure needs for ownership and also benefits from a well-diversified rent roll and a layout designed to support long-term tenant retention. The combination of one- and two-bedroom floor plans creates flexibility within the property while positioning ownership to capitalize on continued rental demand throughout the Santa Ana market. The asset presents a compelling blend of stable in-place income and future upside potential. Ideally situated in central Santa Ana, the property provides residents with convenient access to a wide variety of employment centers, retail destinations, educational institutions, and entertainment amenities. Nearby attractions include Downtown Santa Ana, the Civic Center, Artist Village, 4th Street Market, Santa Ana College, and South Coast Plaza. Residents also benefit from excellent regional connectivity via the I-5, SR-22, SR-55, and SR-57 Freeways, offering convenient access throughout Orange County and the greater Southern California region. With its attractive unit mix, strategic location, and strong market fundamentals, 1433-37 S. Standard Avenue represents an outstanding opportunity to acquire a larger-scale multifamily asset in a high-demand rental market.

1433 1437 S Standard Avenue, Santa Ana

$1,689,000

OC26172416 MLS ⋅ Active Status

Multifamily 6 unit apartment complex in Santa Ana. 2 units are 2 bedrooms and 1 bathroom, 4 units are 1 bedroom and 1 bathroom. Each unit has a private patio/deck. Gated parking in back of the building, with electronic access. Each 1 bedroom unit gets one space and the 2 bedrooms get 2 spots. Laundry room has 2 washers and 2 dryers. Great location close to freeways and downtown Santa Ana dining and entertainment district.

620 E Pine, Santa Ana

$5,200,000

OC26160223 MLS ⋅ Active Status

Presenting the Bishop Apartments, a well-maintained multifamily investment opportunity in the heart of Santa Ana. The property features a unit mix of one- and two-bedroom units including one non conforming unit (1BD / 1BA), generating stable cash flow via strong tenant demand. Recent capital improvements, including seismic retrofitting, combined with on-site laundry, private patio space, and ample parking position the property for continued strong performance and future upside. The Bishop Apartments offers investors a compelling opportunity to acquire a quality asset with stable in-place income and long-term appreciation potential in one of Orange County's strongest rental markets.

1003 W Bishop, Santa Ana

$3,450,000

PW26035733 MLS ⋅ Active Status

This well-maintained 18-unit apartment community presents a compelling value-add opportunity in the heart of a rapidly evolving urban core. The property features all one-bedroom units and offers desirable amenities including private garages, secured access, a central landscaped courtyard, and on-site laundry, creating strong tenant appeal. Recent capital improvements include new roofs, replaced electrical panels, and full SB 721 compliance, significantly reducing near-term maintenance and risk. Offered at an exceptionally attractive $191,667 per unit, the asset delivers impressive fundamentals with approximately 25% rent upside, approximately 15% cash flow on market rents, and projected 38% equity growth upon stabilization. Situated blocks from Downtown Santa Ana and the vibrant 4th Street Market, residents enjoy walkable access to a thriving mix of dining, entertainment, nightlife, and cultural attractions, along with proximity to major employment centers and transit, making this an ideal location for tenants seeking both convenience and lifestyle.

116 S Orange, Santa Ana

$4,974,000

OC25079080 MLS ⋅ Active Status

The Flower Street Apartments is comprised of a 20 unit gated apartment complex located in the heart of Santa Ana. All of the units have been COMPLETELY renovated with approximately $500,000 spent over the last 5 years in both the interiors and exterior. The property is individually metered for both gas & electric and has their own water heater. Each unit has a large patio/balcony for the tenants to enjoy. The renovated units include new kitchens with quartz countertops, stainless steel appliances, new bathrooms/showers with new vanities, tile shower walls, high-efficiency toilets, LED recessed lighting and new windows. The exterior renovations include paint, new staircases and decking, security camera system, exterior lighting and new landscaping. The building is also equipped with a fire sprinkler system throughout. There is also a laundry room with owned equipment that generates additional monthly cashflow. Although existing rents are strong, there is still rental upside with the opportunity for a new investor to raise rents for even better cash flow. This is a great investment opportunity for the passive investor who wants a turnkey, pride of ownership property with great cash flow! Agents/Broker of Record takes no responsibility for the accuracy of this information. All information is deemed to be reliable, however, buyer to verify all information & to conduct their own due diligence.

317 S Flower Street, Santa Ana

$4,720,000

AR24144156 MLS ⋅ Active Status

Great cashflow! Current actual income is $440,081.16. Current actual CAP Rate is 6.91%. Market rent is $508,8000. Market CAP Rate is 8.24%. 20 high demand rental units located in the heart of Orange County. Separate APN numbers so buyer does not need on-site manager. Amenities include a spacious and quiet central courtyard, security doors, 2 on-site laundry rooms, and ample surface parking. Minnie Street is located just south of Santa Ana’s Downtown and is within the Pacific Park neighborhood. The property is within 1 mile of the bustling retail corridor of Downtown Santa Ana which provides residents with convenient access to a plethora of retail, dining, and entertainment options. The property is conveniently located within 0.75 miles to Kennedy Elementary School, Lathrop Intermediate School, and Century High School. Convenient excess to I-5 freeway. Separate electric meters paid by tenants. The landlord pays for water, trash, gas, and sewer. 8-2 bedrooms and 12-1 bedroom. The rent is below market bringing upside opportunity to increase rents by new buyer.

1426 Minnie Street, Santa Ana

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Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

Santa Ana South of First (69) Homes with Apartment Subtype

Newest Santa Ana South of First (69) Homes with Apartment Subtype

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