935 W Bishop St

$4,050,000
Price
2
Beds
12
Baths
9,784 Sq. Ft.
$414 / Sq. Ft.
9,784
Sq. Ft.
$414
per Sq. Ft.

Description

Pleased to present this fully renovated, 12-unit multifamily property located in the heart of Santa Ana, The offering presents a compelling investment opportunity with strong in-place cash flow and significant future upside. Built in 1971, the building consists entirely of spacious two-bedroom, one-bathroom units, each thoughtfully upgraded to meet modern tenant expectations. All interiors have been completely renovated, featuring in-unit washers and dryers, ceiling fans, and private patios or balconies....Pleased to present this fully renovated, 12-unit multifamily property located in the heart of Santa Ana, The offering presents a compelling investment opportunity with strong in-place cash flow and significant future upside. Built in 1971, the building consists entirely of spacious two-bedroom, one-bathroom units, each thoughtfully upgraded to meet modern tenant expectations. All interiors have been completely renovated, featuring in-unit washers and dryers, ceiling fans, and private patios or balconies. Residents also benefit from the convenience of onsite laundry facilities and the added security of controlled, secured entry. These highdemand amenities support tenant retention and enhance the property's competitive position in the local rental market. Currently operating at a 7.0% CAP rate on actual rents, this property offers the rare advantage of assumable fixed-rate financing at 4.2%, providing an excellent opportunity for stabilized leverage in today’s interest rate environment. Ownership is in the process of obtaining full approval for the addition of three Accessory Dwelling Units (ADUs). These ADU's, once constructed, add a projected 25.5% increase in gross income.
  1. Listed by Rick Applebaum • DRE #01273871 • Brokerage DRE #01220368 • Morgan Skenderian • rma@morganskenderian.com
  2. Listed by Paul Espinosa • DRE #01942627 • Brokerage DRE #01220368 • Morgan Skenderian

Property Details for 935 West Bishop Street

Parking Spaces Total
26
Private Pool
No
Total Units
12.0
Building Type
Detached
Lot Size Source
Assessor
Living Area
9784
Assessor Parcel Number
010-121-40
Property Attached YN
false
LISTING UPDATED: 11/24/2025 11:51 AM

Property Details for 935 West Bishop Street

StatusActive
MLS #PW25132443
Days on Market185
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income / Res Income 2-4 Units
Year Built1971
CountyOrange County

Location

Listing Courtesy of Morgan Skenderian, Rick Applebaum, DRE #01273871; Morgan Skenderian, Paul Espinosa, DRE #01942627
Add your commute

Building Information for 935 West Bishop Street

Building/Complex935 W Bishop StFloor-Stories2Residences-Pet Policy-Pet Policy Details-Year Built1971Building Size-

Payment Calculator

$23,277 per month

30 year fixed, 6.28% Interest

Principal and Interest

$20,012

Property Taxes

$3,265

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 935 West Bishop Street

Income / Expense / Tax Details
Income Details
  • Gross Income: $388,536
  • Gross Scheduled Income: $388,536
  • Vacancy Allowance: 11656
  • Vacancy Allowance Rate: 3
  • Gross Operating Income: $376,880
  • Net Operating Income: $283,085
  • Laundry Income: $1,800
  • Other Income Description: RUBS
  • Other Income 1: $16,800
  • Gross Multiplier: 10.42
  • Cap Rate: 7.0
Expense Details
  • Operating Expense: $93,795
  • Operating Expense Percent: 24.10%
  • New Taxes Expense: $48,256
  • Gardener Expense: $2,400
  • Fuel Expense: $4,320
  • Licenses Expense: $1,000
  • Electric Expense: $4,320
  • Insurance Expense: $9,784
  • Maintenance Expense: $11,306
  • Maintenance Percent: 3.00%
  • Professional Management Expense: $0
  • Other Expense: $3,769
  • Other Expense Description: Reserves
  • Trash Expense: $4,320
  • Water Sewer Expense: $4,320
  • Total Expenses: $93,795
Tax / Assessment Info
  • Tax Tract Number: 502
  • Tax Census Tract: 749.01
  • CFD/Mello-Roos Fee: $3,186
  • Tax Lot: 14
Community / Development
Community / Development
  • Community Features: Biking, Curbs, Park, Sidewalks
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Community, Gas Dryer Hookup, See Remarks, Washer Hookup
Exterior Features
  • Entry Location: Street
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
  • Pool Heat: N/K
Land/Lot Info
  • Lot Features: Lot 10000-19999 Sqft
  • Number Of Units: 12
  • Land Lease: No
  • Land Lease Type: Fee
  • Levels: Two
  • Water: Public
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 13
  • Uncovered Spaces: 13
  • Open Other Spaces Total: 13
  • Parking Garage Spaces: 13
  • Carport Spaces: 0
Property / Structure Info
  • Builders Tract Name: Other
  • Builders Tract Code: Other (OTHR)
  • Residential Styles: Res Income 2-4 Units
Unit Information
Unit 1
  • Unit Type Units Total: 12
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $2,569
  • Unit Type Total Rent: $30,828
  • Unit Type Pro Forma: 34200
  • Unit Type Type: 1
Unit Information
  • Rent Controlled: Yes
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 12
  • Number Of Separate Gas Meters: 12
  • Number Of Separate Water Meters: 1

Property History for 935 West Bishop Street

DateEvent & SourcePriceAppreciation
Nov 24, 2025

Price Change

CLAW #PW25132443MR

$4,050,000
Nov 24, 2025

Price Change

CRMLS #PW25132443

$4,050,000
Nov 23, 2025

Price Change

SDMLS #PW25132443

$4,050,000
Aug 20, 2025

Price Change

CLAW #PW25132443MR

$4,195,000
Aug 20, 2025

Price Change

CRMLS #PW25132443

$4,195,000
Aug 20, 2025

Price Change

SDMLS #PW25132443

$4,195,000
Aug 11, 2025

Price Change

CLAW #PW25132443MR

$4,375,000
Aug 11, 2025

Price Change

CRMLS #PW25132443

$4,375,000
Jun 12, 2025

Listed (Active)

SDMLS #PW25132443

$4,550,000
Jun 12, 2025

Listed (Active)

CRMLS #PW25132443

$4,550,000
Jun 12, 2025

Listed (Active)

CLAW #PW25132443MR

$4,550,000
Jul 13, 2021

Sold (Public Record)

Public Record #1466847295

$3,020,000

+12.1% / yr

Sep 29, 2006

Sold (Public Record)

Public Record #203088749

$555,000
DateEvent & SourcePrice
11/24/2025

Price Change

CLAW #PW25132443MR

$4,050,000
11/24/2025

Price Change

CRMLS #PW25132443

$4,050,000
11/23/2025

Price Change

SDMLS #PW25132443

$4,050,000
08/20/2025

Price Change

CLAW #PW25132443MR

$4,195,000
08/20/2025

Price Change

CRMLS #PW25132443

$4,195,000
08/20/2025

Price Change

SDMLS #PW25132443

$4,195,000
08/11/2025

Price Change

CLAW #PW25132443MR

$4,375,000
08/11/2025

Price Change

CRMLS #PW25132443

$4,375,000
06/12/2025

Listed (Active)

SDMLS #PW25132443

$4,550,000
06/12/2025

Listed (Active)

CRMLS #PW25132443

$4,550,000
06/12/2025

Listed (Active)

CLAW #PW25132443MR

$4,550,000
07/13/2021

Sold (Public Record)

Public Record #1466847295

$3,020,000

+12.1% / yr

09/29/2006

Sold (Public Record)

Public Record #203088749

$555,000

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 935 West Bishop Street

Taxable ValueLand$2,653,020Additions$551,828Total$3,204,848
Tax Record2025$39,175 ($3,265 / month)
Home Facts
Total Finished SqFt9,784 SqFtAbove Grade Finished SqFt9,784 SqFtStories2Lot Size17,994 SqFtStyleMulti-Family Res (5+ Units)Year Built1971CountyORANGEAPN010-121-40

Schools near 935 West Bishop Street

This home is within Santa Ana Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Charter - 9 to 12
Rating
School
Distance
Lowell Elementary School
PublicK to 5

Willard Intermediate School
Public6 to 8

Santa Ana High School
Public9 to 12

Nova Academy Early College High
Charter9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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935 West Bishop Street is a multi-family home for sale in Santa Ana, CA 92703. This property was listed for sale on June 12, 2025 by Morgan Skenderian, it's currently listed at $4,050,000. It has been on the market for a total of 185 days and was last sold on July 13, 2021. This listing's school district is Santa Ana Unified School District. Nearby schools include Lowell Elementary School, Willard Intermediate School and Santa Ana High School. 935 West Bishop Street is a 2-bed, 12-bath, 9,784 sqft multi-family home built in 1971.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Morgan Skenderian, Rick Applebaum, DRE #01273871; Morgan Skenderian, Paul Espinosa, DRE #01942627

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.