Investment Overview

Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire 1409 West Lingan Lane, an 11-unit multifamily investment property located in Santa Ana, California. Situated on a 0.25-acre lot, 1409 West Lingan Lane consists of one and two-bedroom units and includes amenities such as gated pedestrian access, a central courtyard, garage parking, and on-site laundry. There is potential for new ownership to further increase cash flow through the conversion of the current laundry facility into an accessory dwelling unit (ADU). 1409 West Lingan Lane is within walking distance of the Bristol Swap Mall, offering nearly 60,000 square feet of retail space and over 50 stores, providing residents with convenient access to a variety of retail, dining, and entertainment options. Additionally, the property is located just over 1 mile from Downtown Santa Ana and the bustling 4th Street Market, which grants residents easy access to the City’s civic center as well as a trendy, local culinary hub. 1409 West Lingan Lane is within a 1-mile radius of numerous education centers such as Martin Luther King Jr. Elementary School, Carr Intermediate School, Valley High School, and Mater Dei High School. The property is just 1.20 miles from Centennial Regional Park, a sprawling community center that spans just over 69 acres, providing residents easy access to a number of outdoor activities. Furthermore, 1409 West Lingan Lane is just over 3 miles from the Interstate 5 and State Route 55 Interchange. Named the county seat in 1889, Santa Ana is also known as the financial and governmental center of Orange County. It’s been in recent competition with its fast growing neighbor, the city of Irvine in regards to commercial growth. As the city’s commercial wealth grows, average household income growth is also projected to rise by 18.32 percent to $111,750 by 2026. Santa Ana’s average effective rents have increased by 11 percent year-over-year since first quarter 2021. In addition, Santa Ana’s average vacancy rate as of first quarter 2023 is 3.8 percent, one of the lowest in Orange County. Given the strong market dynamics and unique appeal of the subject property, 1409 West Lingan Lane is well suited to provide investors with strong returns and value appreciation over the long-term investment horizon.