| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 76th | Fair |
| Demographics | 21st | Poor |
| Amenities | 86th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 950 W Bishop St, Santa Ana, CA, 92703, US |
| Region / Metro | Santa Ana |
| Year of Construction | 1984 |
| Units | 20 |
| Transaction Date | 1994-05-20 |
| Transaction Price | $886,767 |
| Buyer | TORRANCE BANK |
| Seller | FIRST AMERICAN TITLE CO OF LOS ANGELES |
950 W Bishop St, Santa Ana Multifamily Investment
Neighborhood data point to durable renter demand and high occupancy stability, according to WDSuite’s CRE market data. For investors, the location’s fundamentals suggest steady leasing with room for value-add upside.
Situated in Santa Ana’s Urban Core, the property benefits from a renter-driven neighborhood where a majority of housing units are renter-occupied—supporting depth of tenant demand and lease-up resilience. Neighborhood occupancy is in the top quartile nationally among comparable areas, per WDSuite, which helps underpin income stability at assets serving workforce renters.
Daily needs are well covered: grocery, restaurant, and pharmacy access score in the upper tiers nationally, with groceries and dining performing particularly strongly. That convenience can aid retention and broaden the prospective renter pool. School ratings trend below national norms, which may narrow the appeal for some households but typically steers demand toward smaller-format and value-oriented units.
The area’s housing stock skews older (average vintage around the mid-20th century), while this asset’s 1984 construction is newer than much of the competitive set. That can provide operating advantages versus older properties, though selective modernization of interiors and building systems may still be warranted to strengthen positioning and push effective rents.
Demographic statistics aggregated within a 3-mile radius indicate modest population contraction alongside growth in household counts and smaller average household sizes. For multifamily, this points to a larger tenant base of smaller households over time, supporting occupancy stability. Median incomes have climbed meaningfully in recent years, and contract rents have risen from prior periods, aligning with commercial real estate analysis of Orange County’s sustained renter demand.
Safety trends are mixed. Relative to the Anaheim–Santa Ana–Irvine metro’s 516 neighborhoods, this area ranks below the metro average for safety (crime rank in the lower half), signaling elevated incident rates compared with many peer neighborhoods. Nationally, the neighborhood sits below mid-percentile ranges, indicating it is less safe than the typical U.S. neighborhood.
That said, year-over-year momentum shows improvement: both violent and property offense rates have declined in the most recent period, according to WDSuite’s CRE data. Investors should underwrite with prudent security measures and consider tenant experience initiatives while noting the downward trajectory in reported incidents.
Nearby offices and corporate nodes create a broad employment base that supports renter demand and commute convenience for residents, notably in business services, title insurance, technology, and data storage.
- Xerox — business services (2.2 miles)
- First American Financial — title insurance (2.8 miles) — HQ
- Microsoft Technology Center — technology (4.8 miles)
- Prudential — financial services (5.0 miles)
- Western Digital — data storage (5.2 miles) — HQ
950 W Bishop St is a 20-unit, 1984-vintage asset positioned in a renter-heavy pocket of Santa Ana with strong neighborhood occupancy and everyday-amenity access. The asset’s vintage is newer than much of the local stock, creating a path to competitive positioning through targeted renovations and systems updates. Elevated ownership costs in Orange County reinforce reliance on multifamily housing, supporting pricing power and lease retention for well-managed buildings.
According to CRE market data from WDSuite, the neighborhood’s occupancy outperforms most areas nationally while amenity access ranks in the upper tiers — both constructive for demand durability. Within a 3-mile radius, household counts are expanding even as average household size declines, indicating a growing renter pool of smaller households that can sustain absorption of efficiently sized units (average unit size about 634 SF). Key underwriting considerations include modest safety standing and below-average school ratings, which argue for active property management and pragmatic expectations for tenant mix.
- Renter-heavy location with strong neighborhood occupancy supports income stability
- 1984 construction is newer than much of the area, enabling value-add and modernization upside
- Amenity-rich Urban Core setting aids retention and broadens the leasing funnel
- Household growth within 3 miles and smaller household sizes point to a larger renter pool
- Risks: safety ranks below metro average and school ratings lag national norms; budget for security and responsive management