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Listed by Mike Marcu • Mike Marcu, Broker
$16,750,000
Est. payment /mo
50,850 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Square Footage 50,850 sqft
Price per Sqft $329
MLS Listing ID OC-26129355
Year Built 1987
Lot Size 0.382 Acres
Property Sub-Type Apartment
Source California Regional Multiple Listing Service (CRMLS)
Property Description
Vista Royale Apartments is a well-maintained 55-unit multifamily community located in Santa Ana's highly desirable Floral Park neighborhood, directly across from Willard Elementary School and less than one mile from Downtown Santa Ana. The property benefits from strong renter demand, excellent regional connectivity, and proximity to major employment, retail, and entertainment destinations.
Built in 1987, the community consists of 7 one-bedroom units and 48 oversized floorplans featuring one bedroom, two bathrooms, and a den, effectively competing with traditional two-bedroom, two-bathroom apartments. These unique units also feature dual private balconies, a rare amenity that enhances resident appeal and supports rental growth.
Offered at an attractive 5.84% capitalization rate, Vista Royale provides immediate cash flow with approximately $235,000 in loss-to-lease, creating a clear opportunity to increase revenue through continued rent growth.
The property is exceptionally efficient from an operational standpoint, with 100% separate gas and electric metering and a well-established RUBS program that recovers a substantial portion of water and trash expenses. Ownership has also recently completed both the SB 721 inspection and the City of Santa Ana Fire Department sprinkler inspection, minimizing near-term compliance and capital expenditure concerns.
Combining strong in-place income, meaningful rental upside, proven expense recoveries, and a premier Orange County location, Vista Royale offers investors a compelling opportunity to acquire a high-quality multifamily asset with durable cash flow and long-term appreciation potential.
The property may also be acquired together with the neighboring 45-unit apartment community plus two non-conforming units located at 502 East 6th Street, creating a rare 102-unit portfolio opportunity in one of Orange County's most desirable rental markets.
Built in 1987, the community consists of 7 one-bedroom units and 48 oversized floorplans featuring one bedroom, two bathrooms, and a den, effectively competing with traditional two-bedroom, two-bathroom apartments. These unique units also feature dual private balconies, a rare amenity that enhances resident appeal and supports rental growth.
Offered at an attractive 5.84% capitalization rate, Vista Royale provides immediate cash flow with approximately $235,000 in loss-to-lease, creating a clear opportunity to increase revenue through continued rent growth.
The property is exceptionally efficient from an operational standpoint, with 100% separate gas and electric metering and a well-established RUBS program that recovers a substantial portion of water and trash expenses. Ownership has also recently completed both the SB 721 inspection and the City of Santa Ana Fire Department sprinkler inspection, minimizing near-term compliance and capital expenditure concerns.
Combining strong in-place income, meaningful rental upside, proven expense recoveries, and a premier Orange County location, Vista Royale offers investors a compelling opportunity to acquire a high-quality multifamily asset with durable cash flow and long-term appreciation potential.
The property may also be acquired together with the neighboring 45-unit apartment community plus two non-conforming units located at 502 East 6th Street, creating a rare 102-unit portfolio opportunity in one of Orange County's most desirable rental markets.
Location
State CA
County Orange
Area 70 - Santa Ana North Of First
Interior
Laundry Community
Exterior
Parking Features Assigned
Garage Spaces 96.0
Pool None
Community Features Urban
Building
Lot Description Sprinkler System, 36-40 Units/Acre
Sewer Public Sewer
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Nearby Locations
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John R Thompson
Broker/Owner | License ID: 01200900
Broker/Owner License ID: 01200900