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About the Listing OC06634 - SMARCMIK
Vista Royale Apartments is a well-maintained 55-unit multifamily community located in Santa Ana's highly desirable Floral Park neighborhood, directly across from Willard Elementary School and less than one mile from Downtown Santa Ana. The property benefits from strong renter demand, excellent regional connectivity, and proximity to major employment, retail, and entertainment destinations. Built in 1987, the community consists of 7 one-bedroom units and 48 oversized floorplans featuring one bedroom, two bathrooms, and a den, effectively competing with traditional two-bedroom, two-bathroom apartments. These unique units also feature dual private balconies, a rare amenity that enhances resident appeal and supports rental growth. Offered at an attractive 5.84% capitalization rate, Vista Royale provides immediate cash flow with approximately $235,000 in loss-to-lease, creating a clear opportunity to increase revenue through continued rent growth. The property is exceptionally efficient from an operational standpoint, with 100% separate gas and electric metering and a well-established RUBS program that recovers a substantial portion of water and trash expenses. Ownership has also recently completed both the SB 721 inspection and the City of Santa Ana Fire Department sprinkler inspection, minimizing near-term compliance and capital expenditure concerns. Combining strong in-place income, meaningful rental upside, proven expense recoveries, and a premier Orange County location, Vista Royale offers investors a compelling opportunity to acquire a high-quality multifamily asset with durable cash flow and long-term appreciation potential. The property may also be acquired together with the neighboring 45-unit apartment community plus two non-conforming units located at 502 East 6th Street, creating a rare 102-unit portfolio opportunity in one of Orange County's most desirable rental markets.
Listing Highlights
Status
Active
Days on Site
22
Property Type
Multi-Family
MLS ®
OC26129355
Year Built
1987
Total Square Footage
50,850
Lot/Acreage
0.38
Interior Details
- Bedrooms: 3
- Bathrooms: 3 Full
- Appliances:
- Air Cond:
- Heating:
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water: Public
Exterior Details
- Lot Description: 36-40 Units/Acre,Sprinkler System,No Land Lease
- Garage Capacity: 96 car
- Parking Spaces: 96
- Roof:
- Others: 2+ Total Units
- Sewer: Public Sewer
- Parking Features: Assigned
Financial Details
- Tax Amount: N/A
- Taxes w/Assessments: N/A
- Tax/Property ID: 39852108
- Tax Year: N/A
Payment Calculator
Monthly Payment
- in Principal and Interest
- in Taxes
Years
% Down Payment
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Questions About..
1327 N Ross Santa Ana, CA 92706
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