The Mogharebi Group | Multifamily Investment Advisory

Property Summary

Price	$14,800,000
Price Per Unit	$314,894
Units	47

Investment Highlights

First Time Available in Over Two Decades
Balanced Mix Of Studios, One-Bedrooms With Dens, And Two-Bedroom Units
Attractive Prime Downtown Santa Ana Location
Transit-Oriented Asset Next To Trolley Lines And The Santa Ana Metrolink Station
Strong Occupancy History
Value-Add Opportunity
Short Term Favorable Financing Available

Property Description

Hacienda De Santa Ana is a 47-unit multifamily community (45 legal units + 2 non-conforming) located in the heart of Downtown Santa Ana—one of Orange County’s most active, walkable, and transit-connected urban submarkets. The property offers a compelling investment opportunity with a rare combination of stabilized operations, strong in-place cash flow, and significant value-add upside through continued unit renovations and operational efficiencies.

Situated just steps from East 4th Street’s vibrant mix of restaurants, nightlife, coffee shops, and retail, the property benefits from excellent walkability and immediate access to the Santa Ana Metrolink Station, trolley lines, and major regional highways. The surrounding area is experiencing substantial public and private reinvestment, including several mixed-use developments and the ongoing revitalization of Santa Ana’s Artists Village and civic core.

The three-story building features an efficient and well-balanced unit mix consisting of studios, one-bedroom units with dens, and two-bedroom units—many of which exceed 1,000 square feet. Two additional non-conforming units, including a former rec room now used as a manager’s unit, present potential ADU conversion upside. Of the total units, 10 have been fully renovated with upgraded kitchens, tile flooring, granite countertops, and modern fixtures, while an additional 10 units have been partially upgraded. Currently 100% occupied and subject to the City of Santa Ana’s Rent Stabilization Ordinance (RSO), Hacienda De Santa Ana provides a stable foundation with a clear path to enhanced income through renovations, operational improvements, and long-term appreciation in a rapidly improving infill location.

502 East 6th Street
Santa Ana, CA 92701

Hacienda De Santa Ana is strategically positioned in the heart of Downtown Santa Ana, one of Orange County’s most dynamic and walkable urban submarkets. The property sits just steps from East 4th Street—home to a thriving mix of restaurants, boutique retailers, coffee shops, nightlife, and creative workspaces. The area has undergone significant revitalization in recent years, with continued public and private investment fueling long-term renter demand and positioning the neighborhood for sustained growth.

Downtown Santa Ana’s East End features major draws such as the refurbished Yost Theater and The Playground, one of the region’s most acclaimed restaurants. The nearby 4th Street Market, a modern indoor food hall, serves as a culinary hub with tenants like Portola Coffee and Electric City Butcher, and includes an incubator kitchen for emerging food entrepreneurs. Just blocks away, the Artists Village—spanning galleries, studios, and creative offices—anchors the area’s cultural and economic energy.

The location offers exceptional connectivity and long-term fundamentals. The property benefits from close proximity to the Santa Ana Metrolink Station, trolley lines, and major regional highways, providing direct access to job centers across Orange and Los Angeles Counties. The surrounding neighborhood continues to densify, with several new developments in progress.