1342 1340 Fair Way, Santa Ana, California 92706, Santa Ana, - bed, bath
ACTIVE$880,000
1342 1340 Fair Way, Santa Ana, California 92706
0Bed
0Bath
1,571Sqft
6,384Lot
Year Built
1955
Close
-
List price
$880K
Original List price
$857K
Price/Sqft
-
HOA
-
Days on market
-
Sold On
-
MLS number
TR25218469
Home ConditionPoor
Features
View-
About this home
Great income-producing duplex in Santa Ana! Both units are tenant-occupied, offering steady rental income. Conveniently located near schools, shopping, and freeways. A fantastic opportunity for investors or owner-users looking for rental potential in Orange County.
Price History
Date
Event
Price
09/25/25
Price Change
$880,000+2.7%
09/16/25
Listing
$857,000
Neighborhood Comparison
| Subject | Average Home | Neighbourhood Ranking (2 Listings) | |
|---|---|---|---|
| Beds | 0 | 0 | |
| Baths | 0 | 0 | |
| Square foot | 1,571 | 1,757 | 33% |
| Lot Size | 6,384 | 6,970 | 33% |
| Price | $880K | $975K | 33% |
| Price per square foot | $560 | $560 | 50% |
| Built year | 1955 | 1954 | 67% |
| HOA | |||
| Days on market | 49 | 180 | 33% |
Condition Rating
Poor
Built in 1955, this duplex shows significant age with no indication of recent major renovations. The exterior features an old roof, dated windows, worn garage doors, and a cracked driveway, suggesting substantial deferred maintenance. While no interior images are provided, it is highly probable that the kitchen and bathrooms are severely outdated and would require full rehabilitation, along with other major system updates, to meet current standards. The property requires substantial repairs and rehabilitation.
Pros & Cons
Pros
Immediate Income Generation: Both units are tenant-occupied, ensuring steady rental income from day one, making it an attractive proposition for investors.
Strategic Orange County Location: Situated in Santa Ana, a high-demand area within Orange County, offering strong rental market dynamics and potential for property value appreciation.
Excellent Local Amenities & Access: Conveniently located near schools, shopping centers, and major freeways, enhancing tenant desirability and overall accessibility.
Versatile Investment Opportunity: Appeals to both seasoned investors seeking consistent cash flow and owner-users looking to offset mortgage costs by occupying one unit and renting out the other.
Substantial Lot Size: The 6,384 sqft lot provides good outdoor space, potential for landscaping improvements, or future development considerations (subject to local zoning).
Cons
Age-Related Maintenance & Upgrades: Built in 1955, the property likely requires significant capital expenditure for system updates (e.g., plumbing, electrical, HVAC) and cosmetic renovations to maximize rental income and tenant appeal.
Recent Price Adjustment: The list price increased from $857,000 to $880,000, which may indicate a seller testing the market or could be perceived as a higher entry point for buyers.
Lack of Detailed Unit Information: The listing description is general, lacking specifics on individual unit layouts, bedroom/bathroom counts, or interior condition, which can hinder a buyer's initial assessment of value and required improvements.