$1,895,000
$155K PRICE DROP

1423 W Lingan Ln Santa Ana, CA 92704

Mid-City Neighborhood

Estimated payment $12,361/month

Total Views 8,880
1 Bed
1 Bath
4,584 Sq Ft
$413 Price per Sq Ft

Highlights

  • Double Pane Windows
  • Family Room
  • Wall Furnace
  • Laundry Room
  • Wrought Iron Fence

About This Home

We are pleased to present the Lingan Lane Apartments located at 1423 Lingan Lane in a solid Santa Ana rental location. This garden-style two-story walkup is in great condition thanks to quality management and a strong pride of ownership. Six of the eight 1 bed / 1 bath units have been renovated at a cost of about $22,000 each unit. The building has gated pedestrian access, pitched composition roofs, covered carports parking, and on-site laundry. The units have garbage disposals, mostly new double-pane vinyl windows, and are separately metered for electricity. The buildings plumbing has been re-piped with copper plumbing at a cost of about $25,000, new exterior paint, and new landscaping that was installed in 2025. Ownership has also implemented a RUBS program to keep utility costs down.

The strong City of Santa Ana location at Bristol & McFadden offers an investor the ability to attract quality residents seeking a well-located residence with convenient access to a wide variety of activities and retail amenities. Nearby are Main Place Mall, The Santa Ana Zoo, South Coast Plaza, Orange County Great Park, Irvine Regional Park, Centennial Park, and Riverview Golf Course. The overall demand for well-located apartments like this will be a key driver in the continued growth for the Lingan Lane Apartments in Santa Ana, California.

Listing Agent

Mark Bridge

Mark Bridge, Broker Brokerage Email: Mark.Bridge@matthews.com License #01316702 Listed on: 03/28/2025

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1959 | Remodeled

Lot Details

  • 7,405 Sq Ft Lot
  • 1 Common Wall
  • Wrought Iron Fence
  • Density is 6-10 Units/Acre

Home Design

  • Property Attached
  • Slab Foundation
  • Fire Rated Drywall
  • Frame Construction
  • Shingle Roof
  • Composition Roof
  • Stucco

Interior Spaces

  • 4,584 Sq Ft Home
  • 2-Story Property
  • Double Pane Windows
  • Entryway
  • Family Room

Kitchen

  • Gas Oven
  • Gas Cooktop
  • Disposal

Bedrooms and Bathrooms

  • 1 Bedroom
  • 1 Bathroom

Laundry

  • Laundry Room
  • Leased Washer and Dryer

Parking

  • 8 Parking Spaces
  • 8 Carport Spaces
  • Parking Available
  • Assigned Parking

Outdoor Features

  • Exterior Lighting
  • Rain Gutters

Location

  • Suburban Location

Utilities

  • Wall Furnace
  • Natural Gas Connected
  • Cable TV Available

Listing and Financial Details

  • Tax Lot 2
  • Tax Tract Number 3245
  • Assessor Parcel Number 10907203

Community Details

Building Details

  • Rent Control
  • 9 Separate Electric Meters
  • 1 Separate Gas Meter
  • 1 Separate Water Meter
  • Electric Expense $1,200
  • Fuel Expense $4,500
  • Gardener Expense $2,400
  • Insurance Expense $5,500
  • Maintenance Expense $4,000
  • Other Expense $3,000
  • Pest Control $900
  • Trash Expense $4,500
  • Water Sewer Expense $5,500
  • New Taxes Expense $21,227
  • Operating Expense $54,672
  • Gross Income $180,056
  • Net Operating Income $122,001

Additional Features

  • 8 Units
  • Laundry Facilities

Property Details

Home Type

Multi-Family

Year Built

Built in 1959 | Remodeled

Lot Details

0

Listing Details

  • CapRate: 6.44
  • Price Per Unit: 236875
  • Property Attached: Yes
  • Road Frontage Type: City Street
  • Road Surface Type: Paved
  • Subdivision Name Other: Mid-city
  • Water Sewer Expenses: 5500.00
  • Property Condition: Updated/Remodeled
  • Property Sub Type: Commercial/Residential
  • Property Type: Residential Income
  • Gardener Expense: 2400.00
  • Parcel Number: 10907203
  • Year Built: 1959
  • Special Features: None

Interior Features

  • Stories: 2
  • Entry Location: 1
  • Common Walls: 1 Common Wall
  • Appliances: Yes
  • Entry Level: 1
  • Levels: Two
  • Price Per Square Foot: 413.39
  • Room Type: Entry, Family Room, Kitchen
  • Window Features: Double Pane Windows

Exterior Features

  • Foundation: Slab
  • Exterior Features: Lighting
  • Fence: Yes
  • Fencing: Wrought Iron
  • Pool Private: No
  • Roof: Composition, Shingle
  • Spa: No
  • Construction Materials: Drywall Walls, Frame, Stucco

Garage/Parking

  • Carport Spaces: 8.00
  • Parking: Yes
  • Parking Features: Assigned
  • Total Parking Spaces: 8.00

Utilities

  • Utilities: Cable Connected, Electricity Connected, Natural Gas Connected, Phone Connected, Sewer Connected, Water Connected
  • Heating: Yes
  • Laundry: Yes
  • Appliances: Disposal, Gas Oven, Gas Range, Gas Cooktop
  • Heating Type: Wall Furnace
  • Laundry Features: Common Area
  • Pest Control Expense: 900.00
  • Sewer: Public Sewer
  • Trash Expense: 4500.00
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Curbs, Gutters, Sidewalks, Storm Drains, Street Lights, Suburban

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 6-10 Units/Acre
  • Lot Size Sq Ft: 7405.20
  • Lot Size Acres: 0.1700

Rental Info

  • Tenant Pays: Electricity

Multi Family

  • Average1 Bed Area: 573 Square Feet
  • Electric Expense: 1200.00
  • Fuel Expense: 4500.00
  • Gross Income: 180056.00
  • Gross Multiplier: 11.21
  • Gross Operating Income: 176674.00
  • Gross Scheduled Income: 180056.00
  • Gross Spendable Income: 122001.00
  • Insurance Expense: 5500.00
  • Laundry Equipment Own Lease: Lease
  • Laundry Income: 1340.00
  • Lot Size Area: 0.1700 Acres
  • Maintenance Expense: 4000.00
  • Net Operating Income: 122001.00
  • Number Of Separate Electric Meters: 9
  • Number Of Separate Gas Meters: 1
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 8
  • Number With Disposal: 8
  • Number With Range: 8
  • Operating Expense: 54672.00
  • Other Expense: 3000.00
  • Other Expense Description: Reserves
  • Other Income1: 9600.00
  • Other Income Description: RUBS (Utility Reimbursement)
  • Rent Control: Yes
  • Total Expenses: 54672.00
  • Vacancy Allowance: 3382

Tax Info

  • New Taxes Expense: 21227.00
  • Tax Census Tract: 747.02
  • Tax Lot: 2
  • Tax Tract Number: 3245

Map

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
05/29/2025 05/29/25 Price Changed $1,895,000 -2.8% $413 / Sq Ft
05/02/2025 05/02/25 Price Changed $1,950,000 -4.9% $425 / Sq Ft
03/28/2025 03/28/25 For Sale $2,050,000 -- $447 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

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Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: OC25067410

California Regional Multiple Listing Service (CRMLS)

California Orange County Santa Ana 92704 Mid-City

1423 W Lingan Ln, Santa Ana, CA

This home is located at 1423 W Lingan Ln, Santa Ana, CA 92704 and is currently priced at $1,895,000, approximately $413 per square foot. This property was built in 1959. 1423 W Lingan Ln is a home located in Orange County with nearby schools including Martin Luther King Jr. Elementary School, Gerald P. Carr Intermediate School, and Valley High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

California Regional Multiple Listing Service (CRMLS) The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.

Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information

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Mark Bridge
Listing Agent
Mark Bridge
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Mark Bridge, Broker
(657) 467-7970