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4/30/24
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A private investor paid $1.16 mil for a 0.29-acre development site, fully entitled for 15 apartment homes, near Downtown Santa Ana.
The “shovel-ready” development, currently named 4G Lofts, is situated at 1212 East 4th St, near the intersection of North Grand Ave in one of Orange County’s most sought-after communities to live, work and play.
The plans for 4G Lofts feature studio units and one- and two-bedroom units, with one apartment home designated as “very low affordable.” The development will include 17 parking spaces.
The 4G Lofts site is centrally located in one of Santa Ana’s employment cores. Within one mile of the site, there is over 4.4 msf of office space. Major employers in the immediate area include multiple state and national government agencies, Judicate West, Merrill Lynch, Geico, Kaiser Permanente, the Federal Courthouse, numerous law and accounting firms, mortgage lenders and many others.
The apartment site is a 12-minute walk from the Metrolink Inland Empire-Orange County Line and the Metrolink Orange County Line at the Santa Ana Metrolink Station stop. Nearby parks include Logan Park, Prentice Park and Mabury Park. There is also an eclectic mix of restaurant options, a Sprouts Farmers Market grocery store a mile away, as well as numerous smaller specialty grocers.
Michelle Jefcoat and Dan Blackwell with CBRE represented the seller, a private investor, based in Orange County. According to Jefcoat, the property is situated in an opportunity zone and less than a mile from Downtown Santa Ana.
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