1102 North French Street, 3 legal + 1 non-conforming unit, is located in the robust rental market of Santa Ana, California. Built in 1955, the property has been updated by the current owner, who spent $250,000+ on the recent significant renovations. The desirable unit mix consists of three 1 Bed / 1 Bath and one 3 Bed / 2 Bath units. The property is also separately metered for gas and electric with a community laundry room. The property can be sold individually or with 4 units on the neighboring parcel at 1104 N French St.
Santa Ana is in the county seat of Orange County; California and it is the second most populous in the county. The United States Census Bureau estimated its 2019 population at 332,318, making Santa Ana the 57th most-populous city in the United States. Santa Ana is in Southern California, adjacent to the Santa Ana River, about 10 miles (16 km) from the coast. Founded in 1869, the city is part of the Greater Los Angeles Area, the second largest metropolitan area in the United States, with almost 18 million residents in 2010. Santa Ana is a very densely populated city, ranking fourth nationally in that regard among cities of over 300,000 residents (trailing only New York City, San Francisco, and Boston). New York Times characterizes Santa Ana as the “face of a new California, a state where Latinos have more influence in everyday life — electorally, culturally, and demographically — than almost anywhere else in the country. The local apartment market in the city of Santa Ana remains strong, and thus this property offers an investor the ability to capture quality residents seeking a well-located neighborhood with convenient access to a wide variety of retail, transportation, and educational amenities. This overall demand for well-located apartments.