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Vista Royale Apartments is a well-maintained 55-unit multifamily community located in Santa Ana's highly desirable Floral Park neighborhood, directly across from Willard Elementary School and less than one mile from Downtown Santa Ana. The property benefits from strong renter demand, excellent regional connectivity, and proximity to major employment, retail, and entertainment destinations. Built in 1987, the community consists of 7 one-bedroom units and 48 oversized floorplans featuring one bedroom, two bathrooms, and a den, effectively competing with traditional two-bedroom, two-bathroom apartments. These unique units also feature dual private balconies, a rare amenity that enhances resident appeal and supports rental growth. Offered at an attractive 5.84% capitalization rate, Vista Royale provides immediate cash flow with approximately $235,000 in loss-to-lease, creating a clear opportunity to increase revenue through continued rent growth. The property is exceptionally efficient from an operational standpoint, with 100% separate gas and electric metering and a well-established RUBS program that recovers a substantial portion of water and trash expenses. Ownership has also recently completed both the SB 721 inspection and the City of Santa Ana Fire Department sprinkler inspection, minimizing near-term compliance and capital expenditure concerns. Combining strong in-place income, meaningful rental upside, proven expense recoveries, and a premier Orange County location, Vista Royale offers investors a compelling opportunity to acquire a high-quality multifamily asset with durable cash flow and long-term appreciation potential. The property may also be acquired together with the neighboring 45-unit apartment community plus two non-conforming units located at 502 East 6th Street, creating a rare 102-unit portfolio opportunity in one of Orange County's most desirable rental markets.
Property Type(s):
Residential Income
| Last Updated | 6/13/2026 | Tract | other |
|---|---|---|---|
| Year Built | 1987 | Community | 70 - Santa Ana North of First |
| Garage Spaces | 96.0 | County | Orange |
Additional Details
| AREA | 70 - Santa Ana North of First |
|---|---|
| GARAGE | Yes |
| LOT | 0.382 acre(s) |
| LOT DIMENSIONS | 16640 |
| PARKING | Assigned |
| POOL DESCRIPTION | None |
| SEWER | Public Sewer |
| STORIES | 4 |
| SUBDIVISION | other |
| WATER | Public |
Location
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Listed with Mike Marcu, Broker
The information being provided by Conejo Simi Moorpark Association of REALTORS® (“CSMAR”) is for the visitor's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (“IDX”) program of CSMAR. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. Any information relating to a property, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CSMAR and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
This IDX solution is (c) Diverse Solutions 2026.
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