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2236 E Franzen

Santa Ana, CA 92705
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Bed 8

Bed

Bath 7

Bath

SqFt7,916

Sqft(Lot)

Located in a highly desirable neighborhood of Santa Ana, near the Tustin and Orange borders, 2236 E. Franzen Avenue presents investors with the opportunity to acquire a well-maintained, fully occupied multifamily asset featuring an attractive mix of one-, two-, and three-bedroom apartment homes. Averaging more than 1,050 square feet per unit, the spacious floor plans appeal to a broad tenant base and offer a significant advantage over many competing properties in the area. The property provides a variety of sought-after resident amenities, including an on-site laundry facility, private patios and balconies, wall air conditioning, and a fireplace in the three-bedroom unit. Parking is well accommodated with four single-car garages, two open parking spaces, and ample street parking for reside nts and guests. The property is also individually metered for electricity and gas, helping to minimize owner-paid utility expenses. Ownership has completed several capital improvements, including the re-plumbing of one unit in 2022, reconstruction of the balconies, and installation of new fencing surrounding most of the private patios, reducing near-term capital expenditure requirements. From an investment perspective, 2236 E. Franzen Avenue offers compelling upside potential. Current rental rates are approximately 22% below market, providing a clear value-add opportunity through the implementation of market rents as units turn over. Combined with its desirable location, generous unit sizes, and strong in-place occupancy, the property represents an attractive long-term investment in one of Orange County's most established rental markets.

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Detail Ic Property Details

Property Type : ResidentialIncome

Price : $1,595,000

AD Id : 89475631

MLS Id : PW26176654

Beds : 8

Lot Size : 7,916 Sqft

Year Built : 1969

Garage : 4

County : Orange

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Feature Features

  • Interior Features

    Balcony
    Laundry Features: CommonArea
  • Heating & Cooling

    Has Cooling: Yes Cooling: WallWindowUnits

  • Building Information

    Year Built: 1969
    Building Area Total: 4213
    Pool Features: None
    Private Pool: No

  • Lot Information

    Main Square Feet: 7916 Lot Size Acres: 0.1817 Lot Size Source: Assessor Lot Size Square Feet: 7,916

    Property Information

    Subdivision: Other Source Property Type: ResidentialIncome Property SubType: Apartment Property Age: 57

  • Listing Price Information

    Listing Price: $1595000
    CashToNewLoan

  • Tax Information

    Parcel Number: 39613146 Tax Lot: 17

  • Parking Information

    Parking Total: 6

    Garage Information

    Has Garage: Yes Garage Space: 4

  • Location Information

    Direction: North of 1st Street and East of Tustin Avenue WaterSource: Public
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ByOwner last updated this listing 08/16/2026 @ 18:18

MLS: PW26176654 LISTED BY: Rick Applebaum, Morgan Skenderian 949-251-8800 SOURCE: CRMLS

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