935 W. Bishop Street
- 4.2% Assumable Fixed Rate Financing
- Approved to Add 3 ADUs
- Existing Units are all Two Bedrooms
- All Interiors Fully Renovated; In-Unit Washer/Dryers
- Built in 1971
- 7.0% CAP Rate on Current Rents with Upside
Property Description
Morgan Skenderian, Inc., is 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 high-demand amenities support tenant retention and enhance the property's competitive position in the local rental market. Currently operating at a 7% 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. Additionally, the property comes with approved plans to add three accessory dwelling units (ADUs), unlocking even more income potential and long-term value creation.
Key Property Information
| Listing Status: | Unavailable |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $4,050,000 |
| No. of Units: | 12 |
| Average Occupancy: | 7 |
| Year Built: | 1971 |
| Lot Size: | 0.41 Acres |
| Opportunity Zone: | No |
| Price per unit: | $337,500 |
| Property Website | Click Here |
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