NOT LISTED FOR SALE
16 Beds
10 Baths
8,132 Sq Ft
0.33 Acre Lot

Sale Details

Date Sold: January 31, 2017

Last sale price $2,350,000 $289 Per Sq Ft

123 Days on Market

Highlights

  • No HOA
  • 11 Car Garage
  • Wrought Iron Fence
  • Fullerton Union High School Rated A-

About This Home

As of January 2017

This 11 unit multi-family investment opportunity in the City of Fullerton is comprised of one and two bedroom units, and was built in 1957. The property has a unit mix of 3 two bed / one bath, 2 two* bed / one bath (No Closet), and 6 one bed / one bath units. Each unit is individually metered for gas and electric and includes air conditioning and security screen doors. This is a gated property, providing tenants privacy and security. The property contains 11 garages as well as 5 open spots and street parking, providing ample parking for tenants. The common area of the building comes with an on-site laundry facility, a grass lawn, and a shared BBQ courtyard and patio.

Located in the City of Fullerton, this property is conveniently positioned near the 5 and 91 freeways, providing tenants easy access to many Southern California regions. The property is seconds away from Pacific Drive Park, Independence Park, Nicholas Park, and the Los Coyotes Country Club. It is also less than 5 miles from Disneyland and Knott's Berry Farm. The building is situated in close proximity to major retail, education, and employment opportunities.

Last Agent to Sell the Property

Mark Bridge

Mark Bridge, Broker License #01316702 Listed on: 08/29/2016

Last Buyer's Agent

William Chou

Lucky Real Estate License #00929418

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1957

Lot Details

  • 14,375 Sq Ft Lot
  • 1 Common Wall
  • Wrought Iron Fence
  • Density is 11-15 Units/Acre

Parking

  • 11 Car Garage
  • 5 Open Parking Spaces
  • Parking Available

Home Design

  • Property Attached

Interior Spaces

  • 8,132 Sq Ft Home
  • 2-Story Property
  • Leased Washer and Dryer

Bedrooms and Bathrooms

  • 16 Bedrooms
  • 10 Bathrooms

Outdoor Features

  • Exterior Lighting
  • Rain Gutters

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Legal Lot and Block 031 / 363
  • Tax Tract Number 22
  • Assessor Parcel Number 03136322

Community Details

Overview

  • No Home Owners Association
  • 11 Units

Building Details

  • 11 Leased Units
  • 11 Separate Electric Meters
  • 11 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $1,440
  • Gardener Expense $1,200
  • Insurance Expense $1,356
  • Maintenance Expense $7,500
  • Other Expense $2,000
  • Trash Expense $3,000
  • Water Sewer Expense $3,075
  • New Taxes Expense $25,970
  • Operating Expense $51,353
  • Gross Income $13,200
  • Net Operating Income $102,367

Property Details

Home Type

Multi-Family

Year Built

Built in 1957

Lot Details

0.33 Acres

Parking

11

Listing Details

  • Assessments: Yes
  • CapRate: 4.20
  • Property Attached: Yes
  • Water Sewer Expenses: 3075.00
  • Property Type: Residential Income
  • Gardener Expense: 1200.00
  • Parcel Number: 03136322
  • Year Built: 1957
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Stories: 2
  • Common Walls: 1 Common Wall
  • Levels: Two
  • Price Per Square Foot: 288.98

Exterior Features

  • Fencing: Wrought Iron
  • Pool Private: No

Garage/Parking

  • Garage Spaces: 11.00
  • Parking: Yes
  • Parking Features: Garage
  • Total Parking Spaces: 16.00
  • Uncovered Spaces: 5.00

Utilities

  • Utilities: Sewer Available
  • Trash Expense: 3000.00
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Curbs, Gutters, Sidewalks, Street Lights, Storm Drains

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 11-15 Units/Acre
  • Lot Size Sq Ft: 14375.00
  • Price Per Lot Square Foot: 170.43

Rental Info

  • Tenant Pays: Electricity, Gas

Multi Family

  • Average1 Bed Area: 667
  • Average2 Bed Area: 826
  • Electric Expense: 1440.00
  • Gross Income: 13200.00
  • Gross Multiplier: 14.90
  • Gross Operating Income: 151320.00
  • Gross Scheduled Income: 156000.00
  • Gross Spendable Income: 102367.00
  • Insurance Expense: 1356.00
  • Laundry Equipment Own Lease: Lease
  • Laundry Income: 200.00
  • Maintenance Expense: 7500.00
  • Net Operating Income: 102367.00
  • Number Of Separate Electric Meters: 11
  • Number Of Separate Gas Meters: 11
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 11
  • Number Of Units Total: 11
  • Operating Expense: 51353.00
  • Other Expense: 2000.00
  • Other Expense Description: Reserves
  • Other Income Description: Month to Month Laundry Lease
  • Rent Control: No
  • Total Actual Rent: 13000.00
  • Total Expenses: 51353.00
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 25970.00
  • Tax Block: 363
  • Tax Lot: 031
  • Tax Tract Number: 22

Ownership History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Name Owned For Owner Type

Purchase Details

Closed on
Jan 6, 2021
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,100,000
Interest Rate
0.0271%
Mortgage Type
Future Advance Clause Open End Mortgage

Purchase Details

Listed on
Aug 29, 2016
Closed on
Jan 18, 2017
Sold by
Bought by
Seller's Agent
Mark Bridge
Mark Bridge, Broker
Buyer's Agent
William Chou
Lucky Real Estate
List Price
$2,450,000
Sold Price
$2,350,000
Premium/Discount to List
-$100,000
-4.08%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,135,000
Interest Rate
0.0416%
Mortgage Type
Commercial

Purchase Details

Closed on
Jul 1, 2014
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,196,000
Interest Rate
0.0318%
Mortgage Type
Commercial

Purchase Details

Listed on
Jan 9, 2012
Closed on
May 4, 2012
Sold by
Bought by
Seller's Agent
Babette Ison
Betty Elkins-Rice
Buyer's Agent
James Hou
Hou Realty
List Price
$1,550,000
Sold Price
$1,350,000
Premium/Discount to List
-$200,000
-12.9%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,000,000
Interest Rate
0.0398%
Mortgage Type
Commercial

Purchase Details

Closed on
Jan 13, 2005
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$900,000
Interest Rate
0.055%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Dec 10, 2004
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$900,000
Interest Rate
0.055%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Apr 25, 1997
Sold by
Bought by

Purchase Details

Closed on
Aug 4, 1994
Sold by
Bought by
Source: Public Records
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area

Purchase History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Buyer Sale Price Title Company
-- Lawyers Title Company
$2,350,000 Commonwealth Title
$1,840,000 Ticor Title
$1,350,000 First American Title Company
-- First American Title Co
$1,350,000 First American Title Co
-- --
-- --
Source: Public Records

Mortgage History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Status Borrower Loan Amount
Open $1,100,000
Closed $1,135,000
Previous Owner $1,196,000
Previous Owner $1,000,000
Previous Owner $900,000
Source: Public Records

Property History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Event Price List to Sale Price per Sq Ft Prior Sale
01/31/2017 01/31/17 Sold $2,350,000 -4.1% $289 / Sq Ft
11/08/2016 11/08/16 Pending -- -- --
08/29/2016 08/29/16 For Sale $2,450,000 0.0% $301 / Sq Ft
08/13/2016 08/13/16 Pending -- -- --
08/02/2016 08/02/16 Price Changed $2,450,000 -1.8% $301 / Sq Ft
07/08/2016 07/08/16 For Sale $2,495,000 +84.8% $307 / Sq Ft
05/21/2012 05/21/12 Sold $1,350,000 -12.9% $168 / Sq Ft View Prior Sale
04/16/2012 04/16/12 Pending -- -- --
01/09/2012 01/09/12 For Sale $1,550,000 -- $193 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $32,723 $2,727,374 $2,470,653 $256,721
2024 $31,443 $2,673,897 $2,422,209 $251,688
2023 $30,674 $2,621,468 $2,374,715 $246,753
2022 $30,446 $2,570,067 $2,328,152 $241,915
2021 $29,925 $2,519,674 $2,282,502 $237,172
2020 $29,756 $2,493,838 $2,259,097 $234,741
2019 $29,008 $2,444,940 $2,214,801 $230,139
2018 $28,576 $2,397,000 $2,171,373 $225,627
2017 $23,281 $1,905,421 $1,553,333 $352,088
2016 $22,810 $1,868,060 $1,522,875 $345,185
2015 $22,190 $1,840,000 $1,500,000 $340,000
2014 $17,111 $1,383,251 $1,168,134 $215,117
Source: Public Records

Agents Affiliated with this Home

  • Section Image
  • Section Image
  • Section Image
  • Section Image
See All Agents

Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: OC16148228

California Regional Multiple Listing Service (CRMLS)
Your Personal Tour Guide

Ask me questions while you tour the home.