| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 76th | Fair |
| Demographics | 21st | Poor |
| Amenities | 86th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 931 W Bishop St, Santa Ana, CA, 92703, US |
| Region / Metro | Santa Ana |
| Year of Construction | 1978 |
| Units | 20 |
| Transaction Date | 2015-01-06 |
| Transaction Price | $3,925,000 |
| Buyer | BARNETT TROY R |
| Seller | PARK CENTER EXCHANGE INC |
931 W Bishop St Santa Ana Multifamily Investment
Neighborhood occupancy is high with a sizable renter-occupied base, pointing to durable leasing fundamentals, according to WDSuite’s CRE market data. For investors, this location’s demand profile supports steady operations while leaving room to enhance positioning through targeted upgrades.
Situated in Santa Ana’s Urban Core, the property benefits from a renter-occupied share at the neighborhood level near six in ten units, indicating depth in the tenant base and consistent multifamily demand. Neighborhood occupancy is strong at 97.7% (a level that is above the metro median), supporting lease stability and limiting downtime between turns.
Daily-life amenities are a relative strength. Amenity access ranks among the top quartile nationally and is competitive among Anaheim–Santa Ana–Irvine neighborhoods (amenity rank 48 out of 516). Grocery, dining, parks, and pharmacies all score in the 80th–90th national percentiles, which helps with resident retention and leasing velocity.
Home values in the neighborhood are elevated versus national norms, and the value-to-income ratio sits in a high national percentile, signaling a high-cost ownership market. That dynamic tends to sustain reliance on rental housing and supports pricing power for well-managed assets. Neighborhood NOI per unit is also above national median levels, reinforcing the area’s income potential for stabilized multifamily operations.
The asset’s 1978 vintage is newer than the neighborhood’s older housing stock, offering a relative competitive edge versus pre-war inventory while still warranting continued capital planning for aging systems and selective modernization. Within a 3-mile radius, demographics show modest population contraction alongside an increase in households and rising incomes; smaller household sizes suggest ongoing renter pool expansion that can support occupancy and renewals.
Safety indicators are mixed. The neighborhood sits below the national median for safety (around the 40th percentile nationwide) but trends are improving, with both violent and property offense rates declining over the past year. Within the Anaheim–Santa Ana–Irvine metro, the neighborhood’s crime ranking (341 out of 516) places it below the metro median for safety, so prudent security measures and active management remain advisable.
For underwriting, the recent year-over-year reductions in estimated violent offenses (approximately mid-teens) and property offenses (roughly late-20s percentage decline) suggest directional improvement, but investors should monitor momentum and incorporate appropriate operating practices.
Proximity to a diversified employment base supports workforce housing demand and commute convenience, with nearby employers spanning technology, financial services, and corporate services. The list below highlights major nodes most relevant to renter retention and leasing stability.
- Xerox — corporate services (2.2 miles)
- First American Financial — title & financial services (2.8 miles) — HQ
- Microsoft Technology Center — technology offices (4.9 miles)
- Prudential — financial services (5.1 miles)
- Western Digital — technology & storage (5.3 miles) — HQ
931 W Bishop St combines strong neighborhood occupancy and a high renter-occupied share with amenity density that supports retention. The 1978 vintage is newer than much of the surrounding stock, providing relative competitiveness versus older product while still benefiting from targeted value-add and systems modernization. Elevated home values at the neighborhood level reinforce reliance on multifamily, sustaining depth in the tenant base and pricing power for well-run assets.
Based on commercial real estate analysis using WDSuite’s CRE market data, the neighborhood’s income profile and household growth within a 3-mile radius point to a larger renter pool over time, even as population trends modestly contract. Directional crime improvements and above-median neighborhood NOI per unit further support stable operations with prudently managed risk.
- High neighborhood occupancy and sizable renter-occupied share support leasing stability
- 1978 vintage is newer than local stock, enabling competitive positioning plus value-add potential
- Amenity-rich Urban Core location aids retention and lease-up velocity
- High-cost ownership market underpins rental demand and pricing power
- Risks: safety sits below national median and modest population slippage—mitigated by improving trends and household growth