926 W. Highland Street

• 11.53 GRM & 6.1% CAP Rate on Current Rent with a Projected ±27% in Rental Upside
• Built in 1987
• 71% Two-Bedroom Units
• All New Balconies & Walkways; SB721 Compliant
• Approximately 10 of 14 Unit Renovated
• New Roof & Fascia Boards, New Rain Gutters, Resurfaced Driveway, Approx. 50% of Water Heaters Replaced
• Located Across from Pio Pico and Lowell Elementary Schools. Down the Street from the Boys and Girls Club

Property Description

Morgan Skenderian is pleased to present 926 W. Highland Street, a 14-unit apartment complex located in the premium rental market of Santa Ana. The property was built in 1987 and presents an excellent investment opportunity, especially given the recent capital improvements including all new walkways & balconies (SB721 Compliant), a new roof, all new fascia boards, rain gutters, and a resurfaced driveway. With 71% of the units being two-bedroom apartments and its proximity to several elementary schools and the Boys and Girls Club, the property appeals to families and long-term renters. Currently offering an 11.53 GRM and a 6.1% CAP rate, it provides solid cash flow, with additional potential for growth. The projected ±27% rental upside in rents indicates significant value-add opportunities, particularly as 10 out of the 14 interiors have already been renovated and approximately 50% of the water heaters have been replaced. This leaves room for further modernization and rent increases, positioning the property for even greater returns in a high-demand rental market.