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About the Listing PB8846 - PAPPLRIC,PWESPPAU
Located in a highly desirable neighborhood of Santa Ana, near the Tustin and Orange borders, 2236 E. Franzen Avenue presents investors with the opportunity to acquire a well-maintained, fully occupied multifamily asset featuring an attractive mix of one-, two-, and three-bedroom apartment homes. Averaging more than 1,050 square feet per unit, the spacious floor plans appeal to a broad tenant base and offer a significant advantage over many competing properties in the area. The property provides a variety of sought-after resident amenities, including an on-site laundry facility, private patios and balconies, wall air conditioning, and a fireplace in the three-bedroom unit. Parking is well accommodated with four single-car garages, two open parking spaces, and ample street parking for residents and guests. The property is also individually metered for electricity and gas, helping to minimize owner-paid utility expenses. Ownership has completed several capital improvements, including the re-plumbing of one unit in 2022, reconstruction of the balconies, and installation of new fencing surrounding most of the private patios, reducing near-term capital expenditure requirements. From an investment perspective, 2236 E. Franzen Avenue offers compelling upside potential. Current rental rates are approximately 22% below market, providing a clear value-add opportunity through the implementation of market rents as units turn over. Combined with its desirable location, generous unit sizes, and strong in-place occupancy, the property represents an attractive long-term investment in one of Orange County's most established rental markets.
Listing Highlights
Interior Details
- Bedrooms: 8
- Bathrooms: 7 Full
- Appliances:
- Air Cond: Wall/Window Unit(s)
- Heating:
- Fireplaces: See Remarks
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other: Balcony
- Water: Public
Exterior Details
- Lot Description: No Land Lease
- Garage Capacity: 4 car
- Parking Spaces: 6
- Roof:
- Others: 2+ Total Units
- Sewer: Public Sewer
Financial Details
- Tax Amount: N/A
- Taxes w/Assessments: N/A
- Tax/Property ID: 39613146
- Tax Year: N/A
Payment Calculator
Monthly Payment
- in Principal and Interest
- in Taxes
Questions About..
2236 E Franzen Santa Ana, CA 92705
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