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1515 N Dresser Street 1515 N Dresser St 19 Unit Apartment Building $5,394,224 CAD ($283,907 CAD/Unit) 7.02% Cap Rate Santa Ana, CA 92701
INVESTMENT HIGHLIGHTS
- Prime location in the heart of Downtown Santa Ana’s French Court neighborhood
- Gated subterranean garage
EXECUTIVE SUMMARY
Prime multifamily investment opportunity in the heart of Downtown Santa Ana’s French Court neighborhood. A well-maintained 19-unit property consisting of a mix of one- and two-bedroom residences. Each unit offers private outdoor space, gated tandem parking, and access to onsite laundry. Select units have been updated with modern finishes, offering immediate appeal to renters and potential for increased income. Located in a highly walkable area, the property is within close proximity to local schools, shopping, dining, and entertainment. Easy access to the 5, 55, and 22 freeways connects residents to all of Orange County. With current rents below market, there is long-term upside for the next owner through strategic management and continued unit upgrades. This is a rare opportunity to acquire a stabilized asset in one of Orange County’s most dynamic rental markets.
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $5,394,224 CAD | Building Class | C |
| Price Per Unit | $283,907 CAD | Lot Size | 0.26 AC |
| Sale Type | Investment | Building Size | 13,140 SF |
| Cap Rate | 7.02% | Average Occupancy | 100% |
| Gross Rent Multiplier | 11.22 | No. Stories | 2 |
| No. Units | 19 | Year Built | 1984 |
| Property Type | Multifamily | Parking Ratio | 2.21/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | MF - Multifamily | ||
| Price | $5,394,224 CAD |
| Price Per Unit | $283,907 CAD |
| Sale Type | Investment |
| Cap Rate | 7.02% |
| Gross Rent Multiplier | 11.22 |
| No. Units | 19 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.26 AC |
| Building Size | 13,140 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1984 |
| Parking Ratio | 2.21/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | MF - Multifamily |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Balcony
- Heating
- Kitchen
- Refrigerator
- Oven
SITE AMENITIES
- Laundry Facilities
- Property Manager on Site
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 14 | - | 595 |
| 2+1 | 1 | - | 662 |
| 2+2 | 4 | - | 710 |
1 1
Walk Score®
Very Walkable (82)
PROPERTY TAXES
| Parcel Number | 398-142-18 | Total Assessment | $4,943,761 CAD (2025) |
| Land Assessment | $2,852,175 CAD (2025) | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $2,091,586 CAD (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
398-142-18
Land Assessment
$2,852,175 CAD (2025)
Improvements Assessment
$2,091,586 CAD (2025)
Total Assessment
$4,943,761 CAD (2025)
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2024
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1515 N Dresser Street | 1515 N Dresser St
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