620 Virginia Avenue, Santa Ana, California 92706, Santa Ana, - bed, bath
ACTIVE UNDER CONTRACT$799,000
620 Virginia Avenue, Santa Ana, California 92706
1Bed
1Bath
888Sqft
6,080Lot
Year Built
1937
Close
-
List price
$799K
Original List price
$899K
Price/Sqft
-
HOA
-
Days on market
-
Sold On
-
MLS number
PW25080595
Home ConditionPoor
Features
View-
About this home
PRICE REDUCED ON THIS AMAZING INVESTOR OPPORTUNITY!! Complete this project and reap the rewards of what can be an exceptional income-generating property! This property offers the savvy investor a unique opportunity to complete a 900 square foot 2 bedroom 1 bath SFR + a 700 square foot 1 bedroom 1 bath ADU in Park Santiago, one of the most sought after neighborhoods in the city of Santa Ana! The ADU is an all-new build including plumbing, electrical, driveway, garage pad etc. Don't miss out on this great opportunity!
Neighborhood Comparison
| Subject | Average Home | Neighbourhood Ranking (59 Listings) | |
|---|---|---|---|
| Beds | 1 | 3 | 2% |
| Baths | 1 | 2 | 7% |
| Square foot | 888 | 1,591 | 2% |
| Lot Size | 6,080 | 7,200 | 17% |
| Price | $799K | $1.18M | 3% |
| Price per square foot | $900 | $697.5 | 93% |
| Built year | 1937 | 9760976 | 15% |
| HOA | |||
| Days on market | 207 | 142 | 80% |
Condition Rating
Poor
The property was built in 1937 and is described as an investor opportunity to complete a project. The images show exposed framing, unfinished interiors, and what appears to be water damage. The ADU is a new build, but the main structure requires substantial repairs and rehabilitation.
Pros & Cons
Pros
Income Potential: The property features both a SFR and a newly built ADU, offering significant income-generating potential through rental opportunities.
Desirable Location: Located in the highly sought-after Park Santiago neighborhood of Santa Ana, known for its desirability and strong property values.
New ADU Construction: The ADU is a completely new build, including new plumbing, electrical, driveway, and garage pad, minimizing immediate maintenance concerns.
Investor Opportunity: Presents a unique opportunity for investors to complete the project and capitalize on the potential income and increased property value.
Price Reduction: The recent price reduction makes this property a more attractive investment opportunity.
Cons
Project Completion Required: The property requires completion, meaning additional investment of time and capital is needed to realize its full potential.
Limited Information: The description lacks specific details about the current state of the SFR and the remaining work required for both units.
Small Square Footage: The square footage of both the SFR and ADU are relatively small, which might limit appeal to some renters or buyers.