1515 N Dresser Street Santa Ana, CA ^$ 3,895,000

1515 N Dresser Street

^$ 3,895,000

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1515 N Dresser Street

Santa Ana, CA, 92701

^$ 3,895,000

Studio Baths23.0 Sq 11,832

Monthly Estimate*

^$ 24,300

Listed by Surterre Properties Inc.

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Studio

Multi-Family Home for sale in Santa Ana, CA

for $3,895,000 with 23 full baths. This 11,832 square foot home was built in 1984 on a lot size of 0.2649.

Prime multifamily investment opportunity in the heart of Downtown Santa Ana’s French Court neighborhood. A well-maintained 19-unit property consisting of a mix of one- and two-bedroom residences. Each unit offers private outdoor space, gated tandem parking, and access to onsite laundry. Select units have been updated with modern finishes, offering immediate appeal to renters and potential for increased income. Located in a highly walkable area, the property is within close proximity to local schools, shopping, dining, and entertainment. Easy access to the 5, 55, and 22 freeways connects residents to all of Orange County. With current rents below market, there is long-term upside for the next owner through strategic management and continued unit upgrades. This is a rare opportunity to acquire a stabilized asset in one of Orange County’s most dynamic rental markets.

Multi-Family Active

Price

^$ 3,895,000

Bedrooms

Studio

Full Bath

Property Type

Multi-Family

Taxes

^$ 44,000

Style

Lot Size

0.2649

Year Built

1984

Town/City

Santa Ana

County/Region

Orange

MLS | Web ID

NP25130863

Days on Market

197

Features

General

Sewer Public Sewer

Possession Close Of Escrow

HOA Fee 0

Garage Spaces 19

Pool Features None

Security Features Security Gate

Year Built 1984

Tenant Pays Parking Fee

View Landmark Mountain(s) Neighborhood

Stories Count 2

Levels Two

Property Subtype Mixed Use

Tax Year 2025

Gross Income 12400

Community Features Sidewalks

County Orange

Net Operating Income 273360

Operating Expense 118900

Insurance Expense 12000

New Construction 0

Property Type Residential Income

HOA 0

MaintenanceExpense 25000

Subdivision Name Water Tower

Facing Direction West

Garage Y/N 1

Special Listing Conditions Standard

Status Active

Directions E 15th St & N Dresser St

City Santa Ana

Disclosures Rent Control

Entry Location 2

Senior Community Y/N 0

Number Of Units Total 19

MLS Area 70 - Santa Ana North of First

Lot Size Units Square Feet

Lot Size Square Feet 11539

Number of Units Leased 19

Listing Terms Cash Cash to New Loan

Spa Features None

Property Attached Y/N 0

Land Lease Y/N 0

Tax Annual Amount 44000

Electric Expense 19200

Fuel Expense 0

Trash Expense 0

Water Sewer Expense 0

Additional Parcels Y/N 0

Rent Control Y/N 1

Building Area Units Square Feet

Standard Status Active

Year Built Source Public Records

Tax Lot 1

Total Actual Rent 31655

Property Sub Type Additional Mixed Use

Cap Rate 6.21

Interior

Total Stories 2

Common Walls No Common Walls

Laundry Features Common Area

Entry Level 2

Exterior

Fencing Wrought Iron

Parking Features Underground

Lot Features 16-20 Units/Acre

Water Source Public

Total Parking 19

Lot Size Area 11539

Number of Buildings 2

Spa 0

Building Area Total 11832

Lot Size Acres 0.2649

Private Pool 0

Lot Size Source Public Records

Number of Separate Water Meters 20

Number of Separate Gas Meters 20

Number of Separate Electric Meters 20

* Excluded Features

List By

Surterre Properties Inc.

Broker

chris@ilovenewport.com

Affordability Calculator

$27,966

Per Month

Monthly Principal & Interest: $24,300
Monthly Property Taxes: $3,667
Monthly Home Insurance: --

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Yearly Home Insurance

Default based on a 30-year fixed rate of 6.375% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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Nearby

Trends
Schools

Multi-family listings in Santa Ana, CA

Average List Price ^$2,436,455

Percent of Sale Price 37%

About Santa Ana, CA

331,906 Population

-2% Since 2002

^$55,844 Median Income

32.48 Median Age

43% Households with Children

View more area information

Trends Information provided by ATTOM Data Solutions.

4827338 Elementary School

4827337 Middle School

Unknown High School High School

See complete school information

Pricing History

Date	Price	Price Change	Description
11/20/2025	$3,895,000		Listed Price

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1515 N Dresser Street, Santa Ana, CA, 92701 is a Multi-Family Home for sale at $3,895,000 with 11,832 sqft and a lot size of 0.2649. 1515 N Dresser Street is a studio with 23.0 baths and was built in 1984. The property's zip code is 92701 which is in Santa Ana, CA

*Information deemed reliable but not guaranteed.

Financial calculator disclaimer: Default based on a 30-year fixed rate of 6.375% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

Listing data provided courtesy of the Internet Data Exchange Program of the California Regional Multiple Listing Service, Inc..

Based on information from California Regional Multiple Listing Service, Inc. as of 12/18/2025. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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1515 N Dresser Street

Multi-Family Home for sale in Santa Ana, CA

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