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$ 4,550,000
Est. payment /mo
Active
935 W Bishop Street Santa Ana, CA 92703
2 Beds
1 Bath
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID PW25132443
Bedrooms 2
Property Sub-Type Res Income 2-4 Units
Property Description
Pleased to present this fully renovated, 12-unit multifamily property located in the heart of Santa Ana, The offering presents a compelling investment opportunity with strong in-place cash flow and significant future upside. Built in 1971, the building consists entirely of spacious two-bedroom, one-bathroom units, each thoughtfully upgraded to meet modern tenant expectations. All interiors have been completely renovated, featuring in-unit washers and dryers, ceiling fans, and private patios or balconies. Residents also benefit from the convenience of onsite laundry facilities and the added security of controlled, secured entry. These highdemand amenities support tenant retention and enhance the property's competitive position in the local rental market. Currently operating at a 6% CAP rate on actual rents, this property offers the rare advantage of assumable fixed-rate financing at 4.2%, providing an excellent opportunity for stabilized leverage in todays interest rate environment. Ownership is in the process of obtaining full approval for the addition of three Accessory Dwelling Units (ADUs). These ADU's, once constructed, add a projected 25.9% increase in gross income.
Location
State CA
County Orange
Zoning Assessor
Direction South of 1st Street and East of Bristol Street
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 2
Level or Stories 2
Others
Tax ID 01012140
Listed by Rick Applebaum Morgan Skenderian