615 Civic Center Drive East
Description
laundry facility, patio or balconies, and fireplace (select units). The property has had recent capital improvements including upgraded windows, upgraded roof, upgraded facia boards, and is SB-721 compliant. Currently...615 Civic Center East Drive, a prime 6-unit multifamily investment property located in the desirable French Park Historical Neighborhood of Santa Ana, CA. Built in 1978, this property features large six two-bedroom and two bath floorplans, complete with amenities such as garages, onsite
laundry facility, patio or balconies, and fireplace (select units). The property has had recent capital improvements including upgraded windows, upgraded roof, upgraded facia boards, and is SB-721 compliant. Currently the property offering a 13.76 GIM and a 4.82% CAP rate, providing
investors a great cashflow in a highly desirable location. Additionally, the property offers the opportunity to convert the garages into an Additional Dwelling Unit (ADU), further increasing the rental income potential. The buyer must verify this possibility with the City of Santa Ana to ensure compliance with local zoning and building regulations. Its prime location is just 0.4 miles from Santa Ana Metrolink Station, and 0.6 miles from the lively 4th Street Market and Downtown Santa Ana, providing tenants with easy access to local businesses, dining, and nightlife. Additionally, the property is within 1.90 miles of Santa Ana College, appealing to students and faculty. With proximity to the 5 Interstate, residents can conveniently connect to major employment hubs across Orange and Los Angeles Counties. This investment not only promises attractive living spaces but also the potential for strong tenant demand in a thriving area.
- Listed by Justin Butler • DRE #02092220 • Brokerage DRE #02128238 • Kirklen Investment Group • 949-202-7255
Property Details for 615 Civic Center Drive East
Property Details for 615 Civic Center Drive East
| Status | Active |
|---|---|
| MLS # | OC24210554 |
| Days on Market | 54 |
| Taxes | - |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Multi Family |
| MLS Type | Residential Income |
| Year Built | 1978 |
| County | Orange County |
Building Information for 615 Civic Center Drive East
Property Information for 615 Civic Center Drive East
- Gross Income: $169,598
- Gross Scheduled Income: $162,720
- Vacancy Allowance: 4882
- Vacancy Allowance Rate: 3
- Gross Operating Income: $157,838
- Net Operating Income: $115,651
- Garage Income: $9,600
- Laundry Income: $2,160
- Gross Multiplier: 13.76
- Cap Rate: 4.82
- Operating Expense: $53,947
- New Taxes Expense: $28,300
- Fuel Expense: $3,095
- Electric Expense: $596
- Insurance Expense: $6,500
- Maintenance Expense: $3,600
- Professional Management Expense: $0
- Other Expense: $3,200
- Trash Expense: $4,702
- Water Sewer Expense: $3,950
- Total Expenses: $53,947
- Tax Block: 74
- Tax Tract Number: 698
- Tax Census Tract: 744.05
- CFD/Mello-Roos Fee: $1,545
- Tax Lot: 17
- Community Features: Curbs, Gutters, Sidewalks, Storm Drains
- Laundry: Yes
- Laundry Features: Common Area
- Entry Location: First level
- Pool Features: None
- Pool Description: None
- Pool: N/K
- Lot Features: Level with Street
- Number Of Units: 6
- Land Lease: No
- Land Lease Type: Fee
- Topography: Level
- Levels: Two
- Water: Public
- Sewer: Public Sewer
- Water Source: Public
- Garage Spaces: 10
- Parking Garage Spaces: 10
- Carport Spaces: 0
- Builders Tract Name: Other
- Builders Tract Code: Other (OTHR)
- Unit Type Units Total: 6
- Unit Type Beds Total: 2
- Unit Type Baths Total: 2
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 10
- Unit Type Garage Attached: Yes
- Unit Type Actual Rent: $2,260
- Unit Type Total Rent: $13,560
- Unit Type Pro Forma: 16800
- Unit Type Type: 1
- Number Of Units Leased: 6
- Rent Controlled: Yes
- Number Of Buildings: 2
- Number Of Separate Electric Meters: 7
- Number Of Separate Gas Meters: 7
- Number Of Separate Water Meters: 1
Property History for 615 Civic Center Drive East
| Date | Event & Source | Price | Appreciation |
|---|
| Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 615 Civic Center Drive East
Schools near 615 Civic Center Drive East
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | K to 5 | |||
| Public - | K to 8 | |||
| Public - | 9 to 12 | |||
| Charter - | K to 8 |
Rating | School | Distance |
|---|---|---|
Garfield Elementary School PublicK to 5 | ||
Sierra Preparatory Academy PublicK to 8 | ||
Century High School Public9 to 12 | ||
Orange County Educational Arts Academy CharterK to 8 |
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.
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Listing Courtesy of Kirklen Investment Group, Justin Butler, DRE #02092220
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.