2140 S Main Street, Santa Ana, CA 92707

$14,750,000
48,459
SqFt
List Price
$14,750,000
Status
ACTIVE
MLS#
OC20191672
Year Built
1988
Living Sq. Ft
48,459
Lot Size
38,332
Acres
0.88
Lot Location
Landscaped
Days on Market
44
Property Type
Multifamily

Property Description

Southtown at Main is a mixed-use investment property consisting of 44 multifamily units and 4 retail suites located at 2140 South Main Street, Santa Ana, CA. Built in 1988, Southtown at Main offers a fantastic unit mix consisting of spacious studio, one-bedroom, and two-bedroom floor plans, which allow the property to appeal to a wider renter base. The property provides a wide range of amenities including controlled access with keypad entry, gated subterranean parking, an on-site manager's office, a business center, a fitness center, an elevator, and on-site laundry facilities. Since 2015, current ownership has invested nearly one-million dollars towards improving 30 of the 44 residential units, as well as the property's amenities and exterior (contact Listing Agent for more details). A continued renovation plan to complete the remaining units will help a future investor achieve market-level rents across all unit types. Southtown at Main has an ideal Santa Ana location, positioned equidistant from Downtown Santa Ana to the north and the South Coast Metro to the south. The property is also situated within a two and a half mile radius of nearby primary transportation arteries, such as State Routes 55 and 73 and Interstates 5 and 405, providing residents with easy access to major employment centers throughout Orange County. In the unit mix, the last four studios are the four retail suites.

Additional Information

Tract Number
597
Lot Description
Sidewalks, Street Lights
Pool Description
None
Garage Spaces Total
71
Sewer
Public Sewer
Water
Public
Attached Structure
Detached
Number Of Units Total
48
Gross Scheduled Income
$1,086,048
Operating Expense
414496
Unit One Total Units
4
Unit One Baths
1
Unit One Garage Spaces
1.00
Unit One Actual Rent
4999.00
Unit One Total Rent
4999.00
Unit One Pro Forma
5980
Unit One Furnished
Unfurnished
Unit Two Total Units
20
Unit Two Beds
1
Unit Two Baths
1
Unit Two Garage Spaces
30.00
Unit Two Actual Rent
32030.00
Unit Two Total Rent
32030.00
Unit Two Pro Forma
34345
Unit Two Furnished
Unfurnished
Unit Three Total Units
5
Unit Three Beds
1
Unit Three Baths
2
Unit Three Garage Spaces
10.00
Unit Three Actual Rent
10773.00
Unit Three Total Rent
10773.00
Unit Three Pro Forma
11625
Unit Three Furnished
Unfurnished
Unit Four Total Units
2
Unit Four Beds
2
Unit Four Baths
1
Unit Four Garage Spaces
10.00
Unit Four Actual Rent
3238.00
Unit Four Total Rent
3238.00
Unit Four Pro Forma
3900
Unit Four Furnished
Unfurnished

Mortgage Calculator

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Term of Loan
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Calculator source: Real Geeks

Listing courtesy of Tyler Leeson from Marcus & Millichap RE Invest

Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.