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

home-pic
ACTIVE$1,900,000
308 S Laurel Street, Santa Ana, California 92704
0Bed
0Bath
3,404Sqft
6,524Lot
Year Built
2024
Close
-
List price
$1.9M
Original List price
$1.9M
Price/Sqft
-
HOA
-
Days on market
-
Sold On
-
MLS number
OC25238691
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.

Price History

Date
Event
Price
10/30/25
Listing
$1,900,000
06/15/23
Sold
$895,000
Neighborhood Comparison

 SubjectAverage HomeNeighbourhood Ranking (72 Listings)
Beds04
Baths02
Square foot3,4041,490
96%
Lot Size6,5246,104
79%
Price$1.9M$937K
95%
Price per square foot$558$638
22%
Built year20241963
99%
HOA
Days on market6153
1%
Condition Rating
Excellent

This property consists of a brand-new ADU built in 2024 and three additional units fully remodeled in 2023. The description and images confirm modern, high-quality finishes throughout, including new cabinets, quartz countertops, high-quality stainless steel appliances, wood-look flooring, recessed lighting, and updated bathrooms with contemporary fixtures and tiling. All major systems, including A/C, are new or recently installed, indicating no deferred maintenance and minimal physical depreciation. The property is essentially new construction or extensively renovated within the last year, aligning perfectly with the 'Excellent' criteria.
Pros & Cons

Pros

New/Recently Renovated Units: The property boasts a brand-new ADU completed in 2024 and three fully remodeled units from 2023, minimizing immediate capital expenditures and attracting high-quality tenants.
Modern Amenities & Finishes: All units are equipped with central A/C (ADU) or A/C, modern cabinets, quartz countertops, high-quality appliances, wood flooring, recessed lighting, and in-unit washer/dryer hookups, appealing to contemporary renters.
Individual Utility Metering: Tenants are responsible for their own gas and electricity through individual meters, simplifying property management and significantly reducing landlord operating expenses.
Ample Parking Provision: The property offers convenient parking with three 1-car garages and four additional driveway parking spots, a valuable asset in urban environments.
Strong Investment Opportunity: As a 4-unit multifamily property in a desirable Santa Ana neighborhood, it presents an excellent income-generating asset suitable for 1031 exchange or investors seeking consistent rental income.

Cons

Vague Location Specificity: The subdivision name 'Other' and MLS area 'Not Defined' provide limited specific neighborhood context, which could require additional due diligence for precise market positioning.
Limited Unit Diversity: All units are 2-bedroom (2/2 for ADU, 2/1 for others), which might limit the property's appeal to a broader range of tenant demographics seeking different unit sizes.
Potential for Limited Outdoor Space: A 6,524 sqft lot for four units, while efficient, may offer limited common outdoor space or private yard areas for residents, which some tenants might desire.

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