Active

2513 W 1st Street

Santa Ana CA, 92703

$3,100,000


$572.38 per sqft

Active

5,416 sqft

Commercial

Built in 1948

Listed by Chas Patterson with The Firm Real Estate Services Inc. 949-877-8827

This strategically located industrial-commercial development property in the heart of Santa Ana is now available. The low cost basis should provide significant upside after development and lease out of a new building. (The city plan shows zoning for light industrial and the owner reports that it may also allow commercial development of 6+ stories.) The expansive 30,055 square foot lot currently boasts two single-story buildings totaling 5,414 square feet. It is currently configured with 9-units that are approved as transitional housing, ensuring immediate income while a new buyer goes through the entitlement process. However, the true value of the property lies in its future potential under the City of Santa Ana's "West Santa Ana Blvd Specific Plan," which has this property zoned as FLEX-1.5 (Low-Industrial/Flex). This zoning opens doors to many potential uses, including, light industrial, office-industrial flex spaces, small-scale clean manufacturing, R&D, commercial retail, live-work units and more. The FLEX-1.5 zoning permits a maximum height of 3-stories and a generous 1.5 FAR (Floor Area Ratio). This should allow for approximately 45,000 buildable square feet and/or up to 30 dwelling units per acre, unlocking incredible value and flexibility for future development. Don't miss this opportunity to acquire a central Orange County industrial-commercial development property before it's too late!

***The information contained herein was obtained from sources that we deem reliable and, while thought to be correct, is not guaranteed by The Firm Real Estate Services Inc. Buyers and other parties in receipt of this information should independently confirm the accuracy of the information through their own due diligence and determine suitability of the property for their needs.

OC23139718

MLS ID

July 28, 2023

Listed

April 15, 2024

Updated

Map

2513 W 1st Street
Santa Ana CA, 92703

Interior Features

Total Stories

1


Laundry Description

Common Area


Fireplace

No


Cooling

No


Heating

No

Exterior/Building Features

Lot Size

0.69 Acres


Lot Features

Level, Value In Land

Other Property Details

Area Name

70 - Santa Ana North of First


Days on Market

262


Garage

No


View

No


County

Orange


Water Source

Public


Pool

No


Zoning

M1 and Flex-1.5


Buyer Agency Compensation

2.5%

Listing History

Date

Event

Price

4/15/2024

Price Change

$3,100,000

-7%

Listing Contact: 949-877-8827 

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 4/15/2024. 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, the 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. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

©2024 California Regional Multiple Listing Service (CRMLS) all rights reserved.

Data last updated on 4/15/2024 at 10:11 PM UTC

 

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