308 S Laurel Street, Santa Ana, California 92704, Santa Ana, - bed, bath

home-pic
ACTIVE$1,950,000
308 S Laurel Street, Santa Ana, California 92704
0Bed
0Bath
3,404Sqft
6,524Lot
Year Built
2024
Close
-
List price
$1.95M
Original List price
$2.05M
Price/Sqft
-
HOA
-
Days on market
-
Sold On
-
MLS number
OC24249476
Home ConditionExcellent
Features
View-

About this home

Welcome to 308 Laurel Apartments, a 4-unit multifamily investment property nestled in the highly desirable neighborhood of Santa Ana. Brand New Construction UNIT 1: What sets this property apart is the addition of a brand-new ADU completed in 2024; offering 2 bed/2 bath 800 SF With an open floor plan, central A/C, modern cabinets, quartz countertops, high-quality appliances, wood flooring, recessed lighting, and washer & dryer hookups. Fully Remodeled UNITS 2-4: 3 units; each offering 2 bed/1 bath, 868 SF each. These units have been fully remodeled in 2023, modern design elements and loaded with all-new upgrades. There are 3 units with 1-car garage, and 4 driveway parking spots providing convenience for residents. Featuring in-unit washer and dryer hookups, A/C, modern cabinets, quartz countertops, high-quality appliances, wood flooring, recessed lighting. All tenants pay for their own utilities; with gas and electricity having individual meters, ensuring hassle-free maintenance and management. Perfect 1031-exchange opportunity, a homeowner looking for additional rental income, or investors.

Neighborhood Comparison

 SubjectAverage HomeNeighbourhood Ranking (72 Listings)
Beds04
Baths02
Square foot3,4041,490
96%
Lot Size6,5246,104
79%
Price$1.95M$937K
97%
Price per square foot$573$638
25%
Built year20241963
99%
HOA
Days on market293161
93%
Condition Rating
Excellent

The property features brand new construction (ADU built in 2024) and fully remodeled units (2023). The description and images show modern kitchens with quartz countertops, high-quality appliances, modern cabinets, and updated bathrooms. Wood flooring and recessed lighting are present throughout. All components appear new or virtually new.
Pros & Cons

Pros

New Construction ADU: The property features a brand new, 2 bed/2 bath ADU completed in 2024, adding significant value and rental potential.
Fully Remodeled Units: Three of the four units have been fully remodeled in 2023 with modern design elements and all-new upgrades, attracting high-quality tenants.
In-Unit Washer and Dryer Hookups: All units are equipped with in-unit washer and dryer hookups, a highly desirable amenity for renters.
Individual Utility Meters: Tenants pay for their own utilities, with individual gas and electricity meters, simplifying property management and reducing landlord expenses.
Excellent Investment Opportunity: The property is suitable for a 1031 exchange, homeowners seeking rental income, or investors looking for a turnkey rental property.

Cons

Price Reduction: The property has undergone a price reduction, which may indicate challenges in attracting buyers at the original price point.
Limited Parking: While there are garages and driveway spots, the parking may be limited for a 4-unit building, potentially impacting tenant satisfaction.
High List Price: The list price of $1.95 million may be a barrier to entry for some investors, requiring a significant initial investment.

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