1003 W Bishop St - Apartments FOR SALE


Santa Ana, CA 92703- Pico-Lowell
$5,400,000 USD
714-713-9086
1003 W Bishop St, Santa Ana, CA for Sale
$5,400,000 USD
Apartments - FOR SALE
1/17
null | 6.07% Cap Rate

1003 W Bishop St
Santa Ana, CA 92703
Pico-Lowell


HIGHLIGHTS

  • Attractive Unit Mix comprised of 20 one-bedroom units and 4 two-bedroom units, offering a balanced mix that appeals to a wide tenant base
  • In-Demand Upgraded Units featuring vinyl plank flooring, shaker-style cabinets, & granite countertops
  • Desirable Santa Ana Location providing residents with easy access to the shops, restaurants, and nightlife along 4th Street
  • Central Orange County Location in the heart of Santa Ana
  • Convenient access to major freeways (I-5, SR-55, and SR-22), retail centers, and regional job hubs in Irvine, Costa Mesa, and Anaheim

OVERVIEW

The Leeson Group of Marcus & Millichap, as the exclusive listing agent, is pleased to present 1003 West Bishop Street, a 23+1 unit multifamily investment opportunity located in the city of Santa Ana, California. The property encompasses an approximately 15,873 square foot building situated on a 0.56-acre lot. 1003 West Bishop Street is comprised of a desirable unit mix of four two-bedroom units and twenty one-bedroom unit, one of which is non conforming. Many units have been tastefully upgraded with modern finishes including vinyl plank flooring, shaker-style cabinetry, and granite countertops, providing investors with a stable asset that already benefits from interior improvements and continued rental appeal. Originally constructed in 1965, 1003 West Bishop Street features amenities designed to attract and retain tenants, including tuck-under parking, an on-site laundry facility, and a spacious outdoor common area equipped for BBQs and gatherings. These features enhance resident satisfaction and contribute to long-term tenancy. Strategically positioned in Santa Ana, the property benefits from strong rental demand, driven by the city’s role as the county seat of Orange County and its proximity to key employment, education, and cultural hubs. Residents enjoy convenient access to major freeways (I-5, SR-55, and SR-22), local retail centers, and entertainment destinations, as well as being within commuting distance to regional job centers in Irvine, Costa Mesa, and Anaheim. For investors, 1003 West Bishop Street presents the opportunity to acquire a well-located, mid-sized multifamily property with an attractive unit mix, recent renovations, and reliable tenant demand in a supply-constrained Orange County market. *Drive by only. Do not walk the property or disturb the residents. Please contact the Listing Agent(s).*

FOR SALE DETAILS

PRICE

$5,400,000 USD

PRICE/SF

$340 USD /SF

# OF UNITS

24

PRICE/UNIT

$225,000

CAP RATE

6.07%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Bishop Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1965

PARKING SPACES

24

LAND DETAILS

LAND ACRES

0.56 AC

LAND SF

24,394 SF

ZONING

R4

APN/PARCEL ID

010-121-46

ASK ABOUT THIS PROPERTY

Tyler LeesonMarcus & MillichapMore Info
714-713-9086

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Tyler LeesonMarcus & MillichapMore Info
714-713-9086

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.