MLS® ID: TR19000324
942 W Bishop Street
Santa Ana, California, 92703 $2,799,000
Gated Well Maintained 11 Unit Apartments. No Rent Control And High Demand Rental Market in the City of Santa Ana Apartment Buildings. Inside 7,567 Sq. Ft. with Lot Size 19,602 Sq.ft. 10 Units of One Bedroom with One Bath in One Level (Each Unit is Approx. 620 Sq.ft.) (Current Monthly Rent is $ 1,295), One Unit is 2 Bedrooms with 1 Bath ( Approx. 1,317 Sq.ft., Current Monthly Rent is $1,650). Annual Gross Income $175,200; Annual Expense with Property Tax and Insurance is $52,921, NET Operating INCOME is $122,279. Located adjacent to Lowell Elementary School, and within walking distance to the Santa Ana Downtown District and Santa Ana High School. The property has 10 single-story, spacious 1-bed/1-bath units, plus one 2-bed/1-bath unit. There are 12 Carport parking spaces. Majority of units are upgraded including kitchen cabinets, tile flooring, paint, bathrooms, interior doors, appliances. The property exterior has been repainted. The baths are equipped with newer vanities, tile surround showers, upgraded plumbing, high-efficiency toilets. The 2-bedroom unit upgrades also include newer wall AC, newer forced air heating. The property also features an onsite laundry room (Equipment on Lease), Long Term Tenants with 100% Occupancy. Next To Elementary School. A Gated Courtyard, 4 Storage Rooms. Located close to Freeways 5 and 55.