942 W Bishop

    Santa Ana, CA 92703
    • $2,820,000
    • STATUS: Active
    • ON SITE: 79 days
    • ID#: TR18161142
    $2,820,000
    • 0
      BEDS
    • 0.45
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 7,567
      SQFT
    • $373
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1961
    County:

    School Ratings & Info

    Description

    Well Maintained 11 Units Gated 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, and a Security Camera System. Located close to Freeway 5 and 55.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-09-23T00:32:58.077. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
    www.playavistaliving.com/homes/85333121

    942 W Bishop Santa Ana, CA 92703

    • Price: $2,820,000
    • Status: Active
    • ID#: TR18161142
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.45
    Acres
    7,567
    SQFT
    $373
    $/SQFT
    1961
    Built
    Neighborhood:
    Other (Othr)
    County:
    Orange
    Area:
    69 - Santa Ana South of First
    Property Description
    Well Maintained 11 Units Gated 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, and a Security Camera System. Located close to Freeway 5 and 55.
    Exterior Features

    Carport Spaces 11.00 Garage Spaces 0.00 Lot Features Lot 10000-19999 Sqft Lot Size Source Assessor Lot Size Units Square Feet Parking Total 11.00 Pool Features None Pool Private YN No Property Attached YN No

    Interior Features

    Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls No Common Walls Laundry Features Individual Room

    Property Features

    Additional Parcels YN No Association Fee 0.00 Association YN No Building Area Units Square Feet Cap Rate 4.36 Community Features Sidewalks Country Us Electric Expense 1320.00 Elevation Units Feet Fuel Expense 7044.00 Gardener Expense 1200.00 Gross Income 175740.00 Gross Scheduled Income 175740.00 Insurance Expense 4811.00 Land Lease YN No Laundry YN Yes Net Operating Income 122819.00 New Taxes Expense 24506.00 Number Of Separate Electric Meters 11 Number Of Separate Gas Meters 11 Number Of Separate Water Meters 1 Operating Expense 52921.00 Professional Management Expense 6000.00 Property Sub Type Apartment Rent Control YN No Senior Community YN No Special Listing Conditions Standard Subdivision Name Other None Total Expenses 52921.00 Trash Expense 2040.00 Water Sewer Expense 6000.00 Water Source Public Year Built Source Assessor

    Listing provided courtesy of Sheng Wang of Century 21 Care.


    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-09-23T00:32:58.077. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
     
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