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French Park 2 On A Lot 833 N Lacy St 8 Unit Apartment Building $2,787,334 CAD ($348,417 CAD/Unit) 4.38% Cap Rate Santa Ana, CA 92701
Investment Highlights
- Corner Lot
- On-Site Coin-Op Laundry
- Value-Add Opportunity
Executive Summary
Great Value-Add opportunity in the renowned French Park neighborhood in Santa Ana. Located 1 block away from East Civic Center Drive. Be right in the action of the redevelopment going on in Downtown Santa Ana. This is a pair of fourplexes, one facing 506 Vance St and one facing 833 N Lacy. Both have a similar layout: eight one-bedroom floorplans with an eat-in kitchen, living room, and full bathroom. There are four ground-level units and four units on the second level, all with individual access. A third building houses the community/coin-op washer and dryer; the washer/dryer units are leased. Seven one-car garage spaces are available for tenant use; three face the alley towards the North East, and four face Vance St on the North West Side. The units' flooring is a combination of laminate tile and vinyl flooring, and countertops are tile. All tenants are on a month-to-month tenancy.
Data Room Click Here to Access
- Operating and Financials
- Third Party Reports
Financial Summary (Actual - 2025) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$194,753
|
$33.12
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$5,842
|
$0.99
|
| Effective Gross Income |
$188,911
|
$32.13
|
| Taxes |
$39,052
|
$6.64
|
| Operating Expenses |
$27,658
|
$4.70
|
| Total Expenses |
$66,710
|
$11.35
|
| Net Operating Income |
$122,201
|
$20.78
|
Financial Summary (Actual - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $194,753 |
| Annual Per SF | $33.12 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $5,842 |
| Annual Per SF | $0.99 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $188,911 |
| Annual Per SF | $32.13 |
| Taxes (CAD) | |
|---|---|
| Annual | $39,052 |
| Annual Per SF | $6.64 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $27,658 |
| Annual Per SF | $4.70 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $66,710 |
| Annual Per SF | $11.35 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $122,201 |
| Annual Per SF | $20.78 |
Property Facts
| Price | $2,787,334 CAD | Building Class | C |
| Price Per Unit | $348,417 CAD | Lot Size | 0.20 AC |
| Sale Type | Investment | Building Size | 5,880 SF |
| Cap Rate | 4.38% | Average Occupancy | 100% |
| Gross Rent Multiplier | 14.3 | No. Stories | 2 |
| No. Units | 8 | Year Built | 1946 |
| Property Type | Multifamily | Parking Ratio | 1.19/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | SD-19 - Specific Development No.19 | ||
| Price | $2,787,334 CAD |
| Price Per Unit | $348,417 CAD |
| Sale Type | Investment |
| Cap Rate | 4.38% |
| Gross Rent Multiplier | 14.3 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.20 AC |
| Building Size | 5,880 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1946 |
| Parking Ratio | 1.19/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | SD-19 - Specific Development No.19 |
Amenities
- Smoke Detector
Unit Amenities
- Disposal
- Heating
- Ceiling Fans
- Eat-in Kitchen
- Kitchen
- Oven
- Tub/Shower
- Family Room
- Vinyl Flooring
Site Amenities
- Laundry Facilities
- Gas Range
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 8 | $2,515 CAD | 650 - 670 |
Moderately walkable
70/100
Very drivable
80/100
Some public transit
50/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 398-042-01 | Total Assessment | $3,213,468 CAD |
| Land Assessment | $2,732,107 CAD | Annual Taxes | $39,052 CAD ($6.64 CAD/SF) |
| Improvements Assessment | $481,361 CAD | Tax Year | 2025 |
Property Taxes
Parcel Number
398-042-01
Land Assessment
$2,732,107 CAD
Improvements Assessment
$481,361 CAD
Total Assessment
$3,213,468 CAD
Annual Taxes
$39,052 CAD ($6.64 CAD/SF)
Tax Year
2025
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French Park 2 On A Lot | 833 N Lacy St
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