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Introducing 500 E 15th St, a well-maintained triplex in the heart of Santa Ana offering strong current income and excellent upside potential. Situated on a 7,405 SF R3 lot, this 1,826 SF multifamily property features three spacious one-bedroom units and approved ADU plans ready to build. A perfect opportunity for investors seeking both stability and future growth. The current unit mix includes one (1) 1-bedroom, 1.5-bath unit (approx. 826 SF) and two (2) 1-bedroom, 1-bath units (approx. 500 SF each). Each residence offers functional layouts with natural light and private access. The property benefits from its prime location near Downtown Santa Ana, schools, and major freeways, offering consistent tenant demand and strong rental fundamentals. With ADU plans approved by the City of Santa Ana for a 515 SF 1-bedroom, 1-bath garage conversion, investors can immediately unlock additional rental income potential. The R3 zoning allows for future development flexibility, while the existing structure provides reliable cash flow today. Located within the Santa Ana Unified School District, this property is ideal for both value-add investors and 1031 exchange buyers looking to grow their Orange County portfolio. This is a rare opportunity to acquire a turnkey triplex with city-approved ADU expansion potential in one of Orange County's most centrally located rental markets.
| DAYS ON MARKET | 129 | LAST UPDATED | 12/11/2025 |
|---|---|---|---|
| YEAR BUILT | 1948 | COMMUNITY | 69 - Santa Ana South of First |
| GARAGE SPACES | 2.0 | COUNTY | Orange |
| STATUS | Active | PROPERTY TYPE(S) | Residential Income |
| PRICE HISTORY | |
| Prior to Dec 11, '25 | $1,299,900 |
|---|---|
| Dec 11, '25 - Today | $1,250,000 |
| ADDITIONAL DETAILS | |
| AREA | 69 - Santa Ana South of First |
|---|---|
| GARAGE | Yes |
| LOT | 7405 sq ft |
| LOT DESCRIPTION | Paved |
| LOT DIMENSIONS | 7405 |
| PARKING | Carport, Driveway, Garage |
| POOL DESCRIPTION | None |
| SEWER | Public Sewer |
| STORIES | 1 |
| WATER | Public |
TOTAL MONTHLY PAYMENT
| SATELLITE VIEW |
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Based on information from California Regional Multiple Listing Service, Inc. as of 3/15/26 6:07 AM PDT 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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