2236 E Franzen, Santa Ana, CA 92705
2236 E Franzen, Santa Ana, CA 92705
2236 E Franzen, Santa Ana, CA 92705
2236 E Franzen, Santa Ana, CA 92705
2236 E Franzen, Santa Ana, CA 92705
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Jessamine Walker

Jessamine Walker

+1(949) 241-2927
$ 1,595,000
Est. payment | /mo

7,914 Sqft Lot

Save
$ 1,595,000
Est. payment | /mo
Save

7,914 Sqft Lot

Key Details

Property Type Other Types

Sub Type Apartment

Listing Status Active Under Contract

Purchase Type For Sale

MLS Listing ID PW26176654

HOA Y/N No

Year Built 1969

Lot Size 7,914 Sqft

Property Sub-Type Apartment

Property Description

Located in a highly desirable neighborhood of Santa Ana, near the Tustin and Orange borders, 2236 E. Franzen Avenue presents investors with the opportunity to acquire a well-maintained, fully occupied multifamily asset featuring an attractive mix of one-, two-, and three-bedroom apartment homes. Averaging more than 1,050 square feet per unit, the spacious floor plans appeal to a broad tenant base and offer a significant advantage over many competing properties in the area. The property provides a variety of sought-after resident amenities, including an on-site laundry facility, private patios and balconies, wall air conditioning, and a fireplace in the three-bedroom unit. Parking is well accommodated with four single-car garages, two open parking spaces, and ample street parking for residents and guests. The property is also individually metered for electricity and gas, helping to minimize owner-paid utility expenses.

Ownership has completed several capital improvements, including the re-plumbing of one unit in 2022, reconstruction of the balconies, and installation of new fencing surrounding most of the private patios, reducing near-term capital expenditure requirements. From an investment perspective, 2236 E. Franzen Avenue offers compelling upside potential. Current rental rates are approximately 22% below market, providing a clear value-add opportunity through the implementation of market rents as units turn over. Combined with its desirable location, generous unit sizes, and strong in-place occupancy, the property represents an attractive long-term investment in one of Orange County's most established rental markets.

Location

State CA

County Orange

Area 70 - Santa Ana North Of First

Interior

Interior Features Balcony

Cooling Wall/Window Unit(s)

Fireplaces Type See Remarks

Fireplace Yes

Laundry Common Area

Exterior

Garage Spaces 4.0

Garage Description 4.0

Pool None

Community Features Biking, Curbs, Dog Park, Foothills, Gutter(s), Park, Sidewalks

Total Parking Spaces 6

Private Pool No

Building

Story 2

Sewer Public Sewer

Water Public

New Construction No

Others

Senior Community No

Tax ID 39613146

Energy Description 1920.0

Acceptable Financing Cash to New Loan

Listing Terms Cash to New Loan

Special Listing Condition Standard

CRMLS Full IDX Feed (MAIN Website Search)
Listed by Rick Applebaum Morgan Skenderian rma@morganskenderian.com, DRE #01273871

Nearby Locations

Jessamine Walker

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(949) 241-2927

jessamine@walkerpropertygroupca.com

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2236 E Franzen

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