Presenting 1221-1227 N Lacy Street, a value-add four-unit multifamily property in Santa Ana’s historic French Park neighborhood. Offered for the first time in more than 20 years, the property gives an investor a rare chance to acquire a well-located asset close to Downtown Santa Ana.
The property consists of four two-bedroom, one-bath units, each with a garage space, open parking, and access to an on-site laundry facility. The interiors are largely original. This creates a value-add opportunity for an investor who plans to renovate units as they turn over. The property also offers a potential ADU opportunity. Buyer must verify with the City of Santa Ana.
The property is approximately 0.9 miles from Downtown Santa Ana and its restaurants, entertainment, and employment base. It is also approximately 0.3 miles from the planned Santa Ana Blvd and Lacy St station on the OC Streetcar line. Residents have convenient access to the I-5 freeway and the Santa Ana Regional Transportation Center.
Under contract
Listed by: Kirklen Investment Group • Justin Butler • Contact: 949-202-7255
$1,200,000
1221 N Lacy St, Santa Ana, CA 92701
8beds
4baths
3,715sqft
Quadruplex
Built in 1948
-- sqft lot
$-- Zestimate®
$323/sqft
$-- HOA
What's special
- 6 days
- 343
- 32
Zillow last checked:
Listing updated:
Listed by:
Justin Butler DRE #02092220 949-202-7255,
Kirklen Investment Group
Source: CRMLS,MLS#: OC26224237
Originating MLS: California Regional MLS
Originating MLS: California Regional MLSFacts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 8
- Bathrooms: 4
Heating
- Wall Furnace
Cooling
- None
Appliances
- Laundry: Common Area
Features
- Has fireplace: No
- Fireplace features: None
- Common walls with other units/homes: 2+ Common Walls
Interior area
- Total structure area: 3,715
- Total interior livable area: 3,715 sqft
Property
Parking
- Total spaces: 8
- Parking features: Assigned
- Garage spaces: 4
- Uncovered spaces: 4
Features
- Entry location: front
- Pool features: None
Lot
- Size: 6,800 Square Feet
- Features: 2-5 Units/Acre
Details
- Parcel number: 39803301
- Special conditions: Standard
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Quadruplex
- Attached to another structure: Yes
Condition
- New construction: No
- Year built: 1948
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
Community & HOA
Community
- Features: Curbs, Gutter(s), Storm Drain(s), Street Lights, Sidewalks
Location
- Region: Santa Ana
Financial & listing details
- Price per square foot: $323/sqft
- Tax assessed value: $681,022
- Date on market: 10/15/2026
- Cumulative days on market: 7 days
- Listing terms: Cash,Cash to New Loan,1031 Exchange
- Tenant pays: Electricity, Gas
Estimated market value
Not available
Estimated sales range
Not available
$3,226/mo
Price history
| Date | Event | Price |
|---|---|---|
| 10/22/2026 | Contingent | $1,200,000$323/sqft |
Source:  CRMLS #OC26224237 Report a problem | ||
| 10/15/2026 | Listed for sale | $1,200,000+160.3%$323/sqft |
Source: CRMLS #OC26224237 Report a problem | ||
| 9/27/2002 | Sold | $461,000+106.3%$124/sqft |
Source: Public Record Report a problem | ||
| 5/14/1998 | Sold | $223,500$60/sqft |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2026 | -- | $681,022 +2% |
| 2025 | $8,582 +2.7% | $667,669 +2% |
| 2024 | $8,356 +2.6% | $654,578 +2% |
| 2023 | $8,145 +1.2% | $641,744 +2% |
| 2022 | $8,051 +2.3% | $629,161 +2% |
| 2021 | $7,868 -0.1% | $616,825 +1% |
| 2020 | $7,878 | $610,501 +2% |
| 2019 | $7,878 +1.9% | $598,531 +2% |
| 2018 | $7,733 +4.7% | $586,796 +2% |
| 2017 | $7,385 | $575,291 +2% |
| 2016 | $7,385 +2% | $564,011 +1.5% |
| 2015 | $7,243 +3.1% | $555,540 +2% |
| 2014 | $7,026 | $544,658 +0.5% |
| 2013 | -- | $542,197 +2% |
| 2012 | -- | $531,566 +2% |
| 2011 | -- | $521,144 +0.8% |
| 2010 | -- | $517,250 -0.2% |
| 2009 | -- | $518,480 +2% |
| 2008 | -- | $508,314 +2% |
| 2007 | -- | $498,348 +2% |
| 2006 | -- | $488,577 +2% |
| 2005 | -- | $478,998 +2% |
| 2004 | -- | $469,606 +1.9% |
| 2003 | -- | $461,000 +90.8% |
| 2002 | -- | $241,572 +2% |
| 2001 | $2,666 -0.2% | $236,836 +2% |
| 2000 | $2,670 | $232,193 |
Find assessor info on the county website
Monthly payment
Est. payment
Payment breakdown
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