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1010 W Bishop Street Santa Ana, CA 92703
$1,675,000

Property listed by Morgan Skenderian, Damien Breaux. IDX Contact: 949-251-8800

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  • David Oronoz

    David Oronoz

    Principal | Multifamily Investments

    DRE# 01838862

  • Bobby Aschtiani

    Bobby Aschtiani

    Principal | Multifamily Investments

    DRE# 02048373

  • Chris Pettit

    Chris Pettit

    Founder

    DRE# 01983950

Property Description

1010 W. Bishop Street is a property consisting of (1) 3-bedroom detached house, and (4) single-story 2-bedroom apartments, located in the high demand Santa Ana rental market. The Bishop Street Apartments are within walking distance of elementary schools and Santa Ana High School, and are just one mile from the heart of downtown, with its abundant restaurant and retail offerings. Family owned and operated for 30 years, the property has undergone several more recent upgrades, including new windows (2014), a new roof on the house, new concrete patios, and 4 of the units remodeled (the house, and units A, B, and C). There are individual water heaters for each unit, and the (4) 2-bedroom units are all electric; no gas. there is a laundry room on-site, though it is not currently in use. The next owner may opt to reinstall laundry machines for additional income. Also, there may be the possibility to redevelop the house into multiple townhouse-style units. Buyer to satisfy themselves with regards to city zoning, building requirements, etc.

Property Details & Features

Property Type

  • Residential Income

Year Built

  • 1959

House

  • 1 total stories
  • Built in 1959
  • Stories: 1
  • 3644 total building sqft
  • 2+ Common Walls
  • One

Community

  • Curbs
  • Sidewalks

Expenses

  • Electric Expense: $1,563
  • Fuel Expense: $1,563
  • Insurance Expense: $1,459
  • Operating Expense: $35,440
  • Water Sewer Expense: $1,563

Heating

  • Forced Air

Income

  • Gross Income: 112380
  • Gross Scheduled Income: 112380
  • Net Operating Income: 73568

Laundry

  • Common Area

Listing

  • Listing ID: PW22168838
  • Listed on 2022-08-01
  • Rent controlled

Location

  • County: Orange

Lot

  • 10242 sqft
  • 0.2351 acres
  • Area: 10242
  • 2-5 Units/Acre

Parking

  • 4 open parking spaces
  • 4 total parking spaces

Property

  • 2 buildings
  • 5 units
  • Property attached

Sewer

  • Public Sewer

Taxes

  • Annual Amount: $18,927

Utilities

  • 6 separate water meters

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