935 W Bishop Street, Santa Ana, CA 92703
Property
Sold March 2026
Listing Agent: Rick Applebaum (DRE #01273871) · Listing Office: Morgan Skenderian · Contact: rma@morganskenderian.com · Bought with: Raed Shehadeh · Casa Real Estate · MLS #PW25132443 · Source: CRMLS
About this property
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 7.0% 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 25.5% increase in gross income.
Listing description from the March 2026 sale, as reported to CRMLS.
Sale history