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2732 West Orion Ave, Santa Ana, California 92704, Santa Ana, - bed, bath

home-pic
ACTIVE$1,710,000
2732 West Orion Ave, Santa Ana, California 92704
0Bed
0Bath
4,553Sqft
7,841Lot
Year Built
1970
Close
-
List price
$1.71M
Original List price
$1.71M
Price/Sqft
-
HOA
-
Days on market
-
Sold On
-
MLS number
PW25223888
Home ConditionFair
Features
View-

About this home

2732 W. Orion Ave is a highly sought after Covington Style 4-unit multifamily investment property located in Santa Ana, CA. Built in 1970, this property consists of (1) 3- bedroom 2- bath, (2) 2-bedroom 2-bath, and (1) 2- bedroom 1-Bath units. Additionally, each fourplex includes four private garages, enhancing tenant demand and providing additional income potential. The property exudes pride of ownership. There is an ability to further enhance yield with the implementation of a RUBS system to minimize the expense for water and trash. This property is being sold alongside another property at 3626 S. Marine St. . Properties can be sold as a portfolio or individually. The property is ideally located minutes from South Coast Plaza, Metro Pointe, The Camp, The Lab, Segerstrom Center, John Wayne Airport, Orange County Museum of Art, Santa Ana College, Mater Dei High School. The property is ideally located near the 405, 55 and 5 FWY for an easy commute.

Price History

Date
Event
Price
09/23/25
Listing
$1,710,000
Neighborhood Comparison
 SubjectAverage HomeNeighbourhood Ranking (8 Listings)
Beds00
Baths00
Square foot4,5532,450
78%
Lot Size7,8416,970
67%
Price$1.71M$1.5M
89%
Price per square foot$376$486
44%
Built year19701964
89%
HOA
Days on market43178
11%
Condition Rating
Fair
Built in 1970, this property is over 50 years old. While some cosmetic updates like laminate flooring are visible in the living areas, the bathroom is significantly dated with an older vanity, mirror, and a very outdated strip light fixture. The presence of window AC units suggests a lack of central cooling, indicating major systems are functional but outdated. The property appears maintained but requires substantial updates to kitchens and bathrooms, and potentially HVAC, to meet modern standards.
Pros & Cons

Pros

Prime Location & Amenities: The property boasts an exceptional location minutes from major attractions like South Coast Plaza, cultural centers, John Wayne Airport, and educational institutions, ensuring high tenant demand.
Excellent Transportation Access: Strategic proximity to the 405, 55, and 5 Freeways provides tenants with convenient commuting options, enhancing the property's appeal.
Private Garages for Each Unit: The inclusion of four private garages significantly boosts tenant desirability and offers a clear opportunity for additional income generation.
Clear Value-Add Opportunity: The explicit mention of implementing a RUBS system presents a straightforward strategy to enhance net operating income by minimizing water and trash expenses.
Diversified Multifamily Investment: As a 4-unit quadruplex with a varied unit mix (3-bed, 2-bed), it offers diversified income streams and is a sought-after asset class for stable investment returns.

Cons

Age of Property: Built in 1970, the property is over 50 years old, which may indicate aging infrastructure and systems potentially requiring significant capital expenditures for updates or replacements.
Lack of Specific Unit Renovation Details: While 'pride of ownership' is noted, the description lacks specific information on recent unit renovations, suggesting units may be dated and require investment to achieve market-leading rents.
Current Utility Expense Structure: Without an existing RUBS system, the current owner likely bears the full cost of water and trash, representing a higher operating expense and a missed opportunity for immediate yield optimization.

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