510 South Flower Street

Santa Ana, CA 92703

$4,790,000
Price
20
Beds
19
Baths
12,613 Sq. Ft.
$380 / Sq. Ft.
12,613
Sq. Ft.
$380
per Sq. Ft.

Description

Located in a prime residential area near Heninger Park, renowned for its collection of early 20th-century homes, this 19-unit gated apartment building presents an excellent investment opportunity. Positioned at the edge of Santa Ana's historic downtown district, the property enjoys a desirable location in a thriving neighborhood. The building offers a diverse unit mix, featuring (16) 1-bedroom/1-bath units, (2) 2-bedroom/1-bath units, and a studio unit. The 1-bedroom units average 700 sq. ft. of...Located in a prime residential area near Heninger Park, renowned for its collection of early 20th-century homes, this 19-unit gated apartment building presents an excellent investment opportunity. Positioned at the edge of Santa Ana's historic downtown district, the property enjoys a desirable location in a thriving neighborhood. The building offers a diverse unit mix, featuring (16) 1-bedroom/1-bath units, (2) 2-bedroom/1-bath units, and a studio unit. The 1-bedroom units average 700 sq. ft. of living space, while the 2-bedroom units are approximately 900 sq. ft. Each unit boasts its own private patio or balcony, perfect for outdoor enjoyment. Additional amenities include an on-site laundry room and carport parking, providing convenience for residents. This property is a great opportunity for steady rental income in a sought-after Santa Ana location. Don't miss outconduct your due diligence today and seize the chance to invest in this income-generating gem!
  1. Listed by Christine Hong • DRE #01325115 • Brokerage DRE #01853483 • Hilton & Hyland
  2. Listed by Herbert L McGurk • DRE #01361267 • Brokerage DRE #01464847 • Coldwell Banker Realty

Property Details for 510 South Flower Street

Zoning
R3
Parcel Number
01012159
Total Units
19.0
Living Area
12613
Source Living Area
Vendor Enhanced
Area
Santa Ana South of First (69)
Vacancy Rate
0
Lot Size Area
18731
LISTING UPDATED: 01/08/2025 04:39 PM

Property Details for 510 South Flower Street

StatusActive
MLS #25-476831
Days on Market1
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1979
Lot Size0.43 AC / 18,731 SF
CountyOrange County

Building Information for 510 South Flower Street

Stories2Residences-Year Built1979Building Size-Lot Size0.43 AC / 18,731 SF

Property Information for 510 South Flower Street

Community / Development
Community / Development
  • Number Of Units: 19
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 1
  • Type Of Units: Multi Unotes
Contract Info
Contract Info
  • Probate: No
  • Financing: Cash To New Loan, Cash
  • Disclosures: As Is
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $353,235
  • Net Operating Income: $275,255.40
  • Gross Income: $364,159
  • Cap Rate: 5.75%
  • Gross Rent Multiplier: $13.56
  • Financial Info as Of: 01/06/2025
  • Total Annual Expense: 77979.72
Land / Lot Info
Land / Lot Info
  • Land Lease Type: Fee
  • Land Lease: No
  • Lot Acreage: 0.43
  • Lot Size Square Feet: 18731
  • Lot Size Dimensions: 75x245
  • Source Lot Size Dimensions: Vendor Enhanced
Parking Details
Parking Details
  • Parking Garage: Attached, Covered Parking, Community Garage
  • Total Parking: 28
  • Parking Features: Covered, Community Structure
  • Attached Garage: Yes
Interior Features
Interior Features
  • Levels: Two
  • Cooling Type: Wall Unit(s)
  • Heating: Forced Air
  • Heating Type: Forced Air
  • Equipment: Other
  • Common Walls: Attached
  • Laundry: Community
Exterior Features
Exterior Features
  • Pool: No
  • Private Pool: No
  • Pool Description: None
  • Pool Features: None
  • Spa: No
  • Spa: None
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 01-07-2025
  • Rent Control: Yes
Unit Details
Unit 1 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $3,374.00
  • Unit Actual Rent: $4,790.00
  • Unit Projected Rent: $3,374.00
  • Like Units: 2
Unit 2 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $24,951.00
  • Unit Actual Rent: $31,120.00
  • Unit Projected Rent: $24,951.00
  • Like Units: 16
Unit 3 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,476.00
  • Unit Actual Rent: $1,495.00
  • Unit Projected Rent: $1,476.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108
  • Number of Electric Meters: 20
  • Number of Gas Meters: 20
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $1,020,000.00
  • Assessed Improvement Percent: 18.43
  • Assessed Land Value: $4,513,500.00
  • Assessed Land Percent: 81.57
  • Assessed Total Value: $5,533,500.00

Property History for 510 South Flower Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 510 South Flower Street

Taxable ValueLand$4,603,770Additions$1,040,400Total$5,644,170
Tax Record2024$67,847 ($5,654 / month)
Home Facts
Total Finished SqFt12,613 SqFtAbove Grade Finished SqFt12,613 SqFtStories2Lot Size18,639 SqFtStyleMulti-Family Res (5+ Units)Year Built1980CountyORANGEAPN010-121-59

Schools near 510 South Flower Street

This home is within Santa Ana Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Charter - 9 to 12
Rating
School
Distance
Lowell Elementary School
PublicK to 5

Willard Intermediate School
Public6 to 8

Santa Ana High School
Public9 to 12

Nova Academy Early College High
Charter9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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510 South Flower Street is a multi-family home for sale in Santa Ana, CA 92703. This property was listed for sale on January 7, 2025 by Hilton & Hyland, it's currently listed at $4,790,000. It has been on the market for a total of 1 days and was last sold on December 8, 2021. This listing's school district is Santa Ana Unified School District. Nearby schools include Lowell Elementary School, Willard Intermediate School and Santa Ana High School. 510 South Flower Street is a 20-bed, 19-bath, 12,613 sqft multi-family home built in 1979.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Hilton & Hyland, Christine Hong, DRE #01325115; Coldwell Banker Realty, Herbert L McGurk, DRE #01361267

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.