12
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Listed by Rick Applebaum • Morgan Skenderian
$4,550,000
Est. payment /mo
9,784 SqFt
New
935 W Bishop Street Santa Ana, CA 92703
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Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 9,784 sqft
Price per Sqft $465
MLS Listing ID CRPW25132443
HOA Y/N No
Year Built 1971
Lot Size 0.410 Acres
Property Sub-Type Other
Source Datashare California Regional
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 today’s 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
Interior
Fireplace No
Laundry Common Area, Other, See Remarks
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