935 W. Bishop Street

Santa Ana is located 30 miles southeast of Los Angeles in the heart of Orange County. The city is the financial and governmental center of Orange County and a major city in the state. With a population of 351,697, Santa Ana is Orange County's largest city, ninth largest city in the state and 52nd largest city in the nation. It's central location and easy access to freeways makes it a great spot from which to see Southern California's attractions, such as, Disneyland, Knott's Berry Farm, South Coast Plaza and some of the finest beaches in all of California. Santa Ana has a median Household Income of $43,412, making it a prime location for rental units. The city is home to nearly 30 elementary schools, 7 junior highs, 6 high schools and minutes from 12 community colleges & universities. The city of Santa Ana's strong economy is due to its designation as an "Enterprise Zone" which offers tax breaks and other incentives to attract & retain Business. Santa Ana's largest private employers include First American Title, The Orange County Register, Western Medical Center, Ingram Micro and Diversified Maintenance Service.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.