Homes for sale - 626 S Broadway, Santa Ana, CA 92701

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Candice Blair

candice@candiceblairgroup.com +1(949) 466-0620

$ 899,900

Est. payment -/mo

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Active

626 S Broadway Santa Ana, CA 92701

2,021 SqFt

UPDATED:

11/25/2024 07:55 PM

Key Details

Property Type Commercial

Sub Type Mixed Use

Listing Status Active

Purchase Type For Sale

Square Footage 2,021 sqft

Price per Sqft $445

MLS Listing ID OC24233577

HOA Y/N No

Year Built 1919

Annual Tax Amount $4,171

Lot Size 6,098 Sqft

Acres 0.14

Property Description

Excellent Opportunity to own a Commercial building in the heart of Henninger Park in Historic Santa Ana along the well trafficked South Broadway corridor. This property boasts 3 units, each with their own electric meter, and a nearly 5:1 parking ratio with a fully enclosed and gated parking lot with up to 15 gated parking spaces and plenty of off-street parking as well. Each unit has its own private bathroom. Bonus full sized basement allows for additional storage and access to all plumbing and electric for service, maintenance and repairs. There is huge upside in rents with the current tenants in 2 of the 3 units, who are on month-to-month lease well below market value. The third unit is in the process of being leased for a 12 month term. This property has very unique zoning (SD-40) which allows for either residential or a variety professional and retail commercial uses. Convert this property to residential units and really hit an income home-run with at least $6,000/month of pro forma gross income. Roof was replaced in 2017, all new ABS plumbing waste-lines in 2018, all copper plumbing throughout and a mini-split heat pump (HVAC) in unit 624 in 2018. This one won't last long, so come quick!

Location

State CA

County Orange

Area 69 - Santa Ana South Of First

Zoning SD-40

Interior

Heating Heat Pump, Wall Furnace

Cooling Heat Pump

Laundry None

Exterior

Fence Block, Wrought Iron

Utilities Available Electricity Available, Electricity Connected, Natural Gas Available, Natural Gas Connected, See Remarks, Sewer Available, Sewer Connected, Water Available, Water Connected

Roof Type Asphalt

Building

Lot Description Corner Lot

Story 1

Water Public

Others

Acceptable Financing None

Listing Terms None

Financing None

Special Listing Condition Standard

Confidential INFO

TERMS 1031 Exchange,Cash,Cash To New Loan,Conventional

LIST AGRMT Exclusive Right To Sell

LIST SERVICE Full Service

PRIVATE REMARKS The property is zoned both R2 and Professional. Specific zoning for this property is SD-40 in Area 3. Allowed property uses per the SD-40 zoning document provided by the City of Santa Ana includes multifamily and professional and retail commercial uses. Currently the building is being used as commercial only. Unit 622 is a Juice Shop and pays $1000/month and is on a month-to-month lease. Unit 624 is a Barber Shop and pays $1200/month and is currently on a month-to-month lease. 626 is in the process of being leased for $1400/month with a 12 month lease term to someone who intends to open a Beauty Shop with a 12-1-2024 start date. The is major upside in rents at the current rates, and even more so by building these units out as residential units at an estimated $2,000 per month per unit, or $6,000 per month total. Landlord currently pays water/sewer, gas, trash, and internet. Only one water meter and one gas meter. Each tenant pays their own electricity as there are there electric meters. Please contact Brendan Kane with any questions. Please note that the listing broker is the owner.

SHOW CONTACT TYPE Agent

SHOW CONTACT NAME Brendan Kane

SHOW CONTACT PH 9494007049

SHOW INSTRUCTIONS No Lockbox. Showings by appointment only. Please do not disturb the tenants, so please drive-by only prior to having a scheduled appointment. Please email, text or call Brendan Kane at 949-400-7049 for an appointment.

Listed by Ardor Realty, Inc

Candice Blair

Broker Associate | License ID: 01395953 ‌

+1(949) 466-0620

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