Birch Street Apartments presents an outstanding opportunity to acquire a well-maintained, 33-unit multifamily asset built in 1984 with substantial value-add potential. Constructed with wood-frame and stucco, the property features garage parking on the ground level, with most units offering private patios that enhance tenant appeal. The property is separately metered for gas and electricity, helping to reduce owner utility expenses, and is served by a central gas water heater. Residents also benefit from the convenience of an on-site laundry facility. While the property is subject to the City of Santa Ana's rent stabilization ordinance, it offers significant long-term income growth potential. Based on current market conditions, a knowledgeable investor may have the opportunity to achieve rental increases exceeding 25% as units naturally turn over and are thoughtfully renovated. This combination of stable in-place income, desirable construction, and meaningful upside makes Birch Street Apartments a compelling investment opportunity in one of Orange County's strongest rental markets.