1810 S Broadway presents a rare opportunity to acquire a well-located, value-driven 8-unit apartment building in the heart of Santa Ana. Built in 1987 and  offered at just $272 per square foot, this asset delivers immediate income and long-term upside in one of Orange County’s most dynamic rental markets.

Each unit boasts over 1,000 square feet of living space, configured as 3-
bedroom, 1-bathroom floor plans with oversized private balconies nearing
250 SF—a feature rarely found in comparable product. The property offers
ample parking with 17 on-site spaces, allowing each unit to have two
dedicated spaces, a highly attractive amenity for tenants.

With a seasoned, long-term tenant base, the property enjoys zero vacancy
and historically low turnover, fostering a tight-knit community feel. The
asset currently operates at an attractive 11.76 GRM and 5.2% cap rate, with
rents below market and room for growth through strategic renovations or
repositioning.

While the property is performing well operationally, buyers should note that
the third bedrooms in each unit are non-conforming and were not permitted
as part of the original 2-bedroom floor plans. In 2024 significant capital
expenditure was made modifying several of the balconies. The building
would benefit from continued maintenance, systems upgrades and
cosmetic improvements. This is an ideal acquisition for investors seeking a
stable, seasoned tenant base with immediate cash flow, below-market
rents, and multiple paths to value creation. Don’t miss this rare chance to
own a unique building with oversized units, strong bones, and built-in
community.