223 S Orange, Santa Ana, CA 92701
Local realty services provided by:ERA Excel Realty
223 S Orange,Santa Ana, CA 92701
$1,350,000
- - Beds
- - Baths
- 3,554 sq. ft.
- Multi-family
- Pending
Listed by: justin butler
Office: kirklen investment group
MLS#:OC25265433
Source:CRMLS
Price summary
- Price:$1,350,000
- Price per sq. ft.:$379.85
About this home
Presenting 223 South Orange Avenue, a high-cash-flow five-unit multifamily investment property located in the desirable Pacific Park neighborhood of Santa Ana, California. The property features a spacious Victorian front house configured as a five-bedroom, five-bath unit, complemented by a rear four-plex offering efficient studio floorplans designed to maximize rental income and promote long-term occupancy stability. Residents enjoy desirable amenities including an on-site laundry facility, a shared central courtyard, four individual garage parking spaces, and security screen doors. The property has been professionally managed throughout ownership, ensuring consistent performance and reliable cash flow. A Ratio Utility Billing System (RUBS) is in place, effectively reducing ownership expenses and improving operating efficiency. Recent capital improvements include upgraded electrical panel on the front house. While the property provides strong in-place income, additional interior and exterior renovations present a clear opportunity to further enhance value, elevate curb appeal, and achieve higher market rents. The garages offer an additional value-add opportunity in which buyers may rent them out for supplemental income or explore converting them into an ADU to further maximize returns (buyer to verify all ADU feasibility with the City of Santa Ana). The asset currently generates $129,775 in gross annual income ($10,815 per month), reflecting a strong 10.40 Gross Income Multiplier (GIM) with meaningful upside through strategic improvements and rent repositioning. Ideally located less than half a mile from Downtown Santa Ana and 4th Street Market, the property offers exceptional connectivity to employment, education, and entertainment corridors. Santa Ana College, MainPlace Mall, and the new OC Streetcar line are all just minutes away, providing residents with convenient transit options and everyday amenities. Proximity to the I-5 and CA-22 freeways further enhances access to major job centers throughout Orange and Los Angeles Counties. Combining stable in-place income, low operating costs, and a prime central location, 223 South Orange Avenue presents investors with a compelling opportunity to acquire a turnkey multifamily asset offering reliable cash flow today and substantial long-term growth potential.
Contact an agent
Home facts
- Year built:1963
- Listing ID #:OC25265433
- Added:96 day(s) ago
- Updated:February 28, 2026 at 08:36 AM
Rooms and interior
- Living area:3,554 sq. ft.
Structure and exterior
- Year built:1963
- Building area:3,554 sq. ft.
- Lot area:0.15 Acres
- Lot Features:Corner Lot
- Levels:2 Story
Utilities
- Water:Public
- Sewer:Public Sewer
Finances and disclosures
- Price:$1,350,000
- Price per sq. ft.:$379.85
New listings near 223 S Orange
- Open Sat, 1 to 4pmNew
$1,395,000Active4 beds 3 baths2,208 sq. ft.3126 S Rita Way, Santa Ana, CA 92704
MLS# PW26043736Listed by: SAL NESH, BROKER - Open Sat, 12pm to 3amNew
$915,000Active3 beds 2 baths1,233 sq. ft.1221 Carlton, Santa Ana, CA 92707
MLS# OC26043457Listed by: MARSHALL REDDICK REAL ESTATE - New
$260,000Active2 beds 2 baths1,440 sq. ft.4211 First Street #76, Santa Ana, CA 92703
MLS# WS26039591Listed by: HOMEQUEST REAL ESTATE - Open Sun, 1 to 4pmNew
$649,000Active3 beds 2 baths1,285 sq. ft.2030 E Santa Clara #K2, Santa Ana, CA 92705
MLS# PW26034985Listed by: 1VISION REAL ESTATE - Open Sat, 1 to 4pmNew
$898,000Active4 beds 4 baths2,221 sq. ft.319 Standard, Santa Ana, CA 92701
MLS# CV26031452Listed by: KELLER WILLIAMS REALTY COLLEGE PARK - New
$2,800,000Active5 beds 3 baths3,589 sq. ft.1762 Terry Lynn Drive, Santa Ana, CA 92705
MLS# PW26041508Listed by: FIRST TEAM REAL ESTATE - Open Sat, 1 to 4pmNew
$898,000Active4 beds 4 baths2,221 sq. ft.319 N Standard, Santa Ana, CA 92701
MLS# CV26031452Listed by: KELLER WILLIAMS REALTY COLLEGE PARK - New
$2,495,000Active5 beds 5 baths4,496 sq. ft.3334 S. Crawford Glen, Santa Ana, CA 92704
MLS# OC26037172Listed by: BERKSHIRE HATHAWAY HOMESERVICE - New
$2,049,900Active4 beds 3 baths3,563 sq. ft.18831 Winnwood Lane, Santa Ana, CA 92705
MLS# PW26039872Listed by: FIRST TEAM REAL ESTATE - New
$399,000Active3 beds 2 baths1,124 sq. ft.1321 S Standard #D, Santa Ana, CA 92707
MLS# PW26042030Listed by: KEVIN DAVIS R.E. BROKER