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.