1006 West Bishop Street includes 7 units located in the robust rental market of Santa Ana, California. Built in 1979, the property consists of 6,278 rentable square feet and is in like-new condition after the current owner spent $400,000+ on the recent significant renovations. The superb unit mix consists of Seven 2 Bed / 1 Bath units. The property is situated on a 0.25-acre lot and includes 11 private garage spaces plus 7 additional on-site parking spaces (1.29 per bedroom) with street parking also available. The property is also separately metered for gas and electric with a community laundry room.
Santa Ana is in the county seat of Orange County, California and it is the second most populous in the county. The United States Census Bureau estimated its 2019 population at 332,318, making Santa Ana the 57th most-populous city in the United States. Santa Ana is in Southern California, adjacent to the Santa Ana River, about 10 miles (16 km) from the coast. Founded in 1869, the city is part of the Greater Los Angeles Area, the second largest metropolitan area in the United States, with almost 18 million residents in 2010. Santa Ana is a very densely populated city, ranking fourth nationally in that regard among cities of over 300,000 residents (trailing only New York City, San Francisco, and Boston).
New York Times characterizes Santa Ana as the "face of a new California, a state where Latinos have more influence in everyday life — electorally, culturally and demographically — than almost anywhere else in the country." The local apartment market in the city of Santa Ana remains strong, and thus this property offers an investor the ability to capture quality residents seeking a well-located neighborhood with convenient access to a wide variety of retail, transportation and educational amenities.