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Multifamily

1212 N Broadway

1212 N Broadway, Santa Ana, CA 92701

Listing Price: $11,000,000

Cap Rate
6.91%
Number of Units
30
GRM
10.89
Price/Unit
$366,667
Price/Gross SF
$529.36
Gross SF
20,780

Investment Overview

Marcus & Millichap is proud to present to market an incredible multifamily investment opportunity in prime downtown Santa Ana, California. The offering comprises 1212 North Broadway, a completely remodeled 30-unit building, as well as 300 West Washington Boulevard, a large 0.48-acre parking lot on a separate parcel that is partially leased to a neighboring school and generates significant income. Currently operated as VRBO short-term rentals, 1212 North Broadway offers a new investor the unique opportunity to reposition a pride-of-ownership asset that may be delivered vacant.

The building boasts a memorable New Orleans-style facade that leads to a stunning courtyard, two stories of virtually brand new apartments, and a separate 500-square foot office. The apartment building offers 20 one-bed/one-baths and 10 two-bed/two-baths, each with in-unit laundry, mini splits, new appliances, modern baths, and upgraded finishes.

The apartments’ enviable interiors are poised to attract a strong tenant base; well-located in the heart of Santa Ana near the city’s historic downtown and Orange County’s civic center, 1212 North Broadway is within walking distance of major employers, schools, including the OC School of the Arts, and the upcoming OC Streetcar line set to open in 2025.

Investment Highlights

  • Fantastic opportunity to acquire a turnkey apartment building in prime Downtown Santa Ana currently operated as VRBO's
  • Not subject to Santa Ana rent control
  • Offering includes a second parcel with a large 0.48-acre parking lot that is partially leased to a neighboring school and generates significant additional income
  • Apartment building features 20 one-bed/one-bath units, 10 two-bed/two-bath units, a 500-square foot office, and a stunning courtyard
  • Units are in immaculate condition and feature upgraded finishes, mini splits, new appliances, in-unit laundry, modern baths, and more
  • Excellent location in the heart of Downtown Santa Ana adjacent to El Sol Academy, a block to the OC School of the Arts, across from the One Broadway Plaza development site, and walking distance to historic Santa Ana attractions, civic center employers, and the upcoming OC Street Car line set to open in 2025

Exclusively Listed By

Multifamily

1212 N Broadway

Listing Price: $11,000,000

Cap Rate
6.91%
Number of Units
30
GRM
10.89
Price/Unit
$366,667
Price/Gross SF
$529.36
Gross SF
20,780

Investment Highlights

  • Fantastic opportunity to acquire a turnkey apartment building in prime Downtown Santa Ana currently operated as VRBO's
  • Not subject to Santa Ana rent control
  • Offering includes a second parcel with a large 0.48-acre parking lot that is partially leased to a neighboring school and generates significant additional income
  • Apartment building features 20 one-bed/one-bath units, 10 two-bed/two-bath units, a 500-square foot office, and a stunning courtyard
  • Units are in immaculate condition and feature upgraded finishes, mini splits, new appliances, in-unit laundry, modern baths, and more
  • Excellent location in the heart of Downtown Santa Ana adjacent to El Sol Academy, a block to the OC School of the Arts, across from the One Broadway Plaza development site, and walking distance to historic Santa Ana attractions, civic center employers, and the upcoming OC Street Car line set to open in 2025

Investment Overview

Marcus & Millichap is proud to present to market an incredible multifamily investment opportunity in prime downtown Santa Ana, California. The offering comprises 1212 North Broadway, a completely remodeled 30-unit building, as well as 300 West Washington Boulevard, a large 0.48-acre parking lot on a separate parcel that is partially leased to a neighboring school and generates significant income. Currently operated as VRBO short-term rentals, 1212 North Broadway offers a new investor the unique opportunity to reposition a pride-of-ownership asset that may be delivered vacant. The building boasts a memorable New Orleans-style facade that leads to a stunning courtyard, two stories of virtually brand new apartments, and a separate 500-square foot office. The apartment building offers 20 one-bed/one-baths and 10 two-bed/two-baths, each with in-unit laundry, mini splits, new appliances, modern baths, and upgraded finishes. The apartments’ enviable interiors are poised to attract a strong tenant base; well-located in the heart of Santa Ana near the city’s historic downtown and Orange County’s civic center, 1212 North Broadway is within walking distance of major employers, schools, including the OC School of the Arts, and the upcoming OC Streetcar line set to open in 2025.

Exclusively Listed By

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