NOT LISTED FOR SALE

130 W Hoover Ave Orange, CA 92867

Orange Area
3 Beds
2 Baths
12,800 Sq Ft
0.42 Acre Lot

Sale Details

Date Sold: October 27, 2012

Last sale price $2,720,000 $212 Per Sq Ft

176 Days on Market

Highlights

  • 0.42 Acre Lot
  • Wood Siding
  • No Heating

About This Home

As of October 2012

EXCHANGE BUYERS ALL YOU NEED IS 25% DOWN PAYMENT AND YOU CAN TRADE INTO THIS PRIME ORANGE COUNTY APARTMENT BUILDING. With employment centers all around it this 20 unit apartment building offers an opportunity to operate a business in a very stable marketplace. Featuring 16 one bedroom one bath and 4 two bedroom one bath units that are individually metered for electricity and have had energy efficient lighting installed the property operates at a low expense factor. Parking is made up of six two car and 6 one car garages

Last Agent to Sell the Property

Mike Marcu

Mike Marcu, Broker License #00919594 Listed on: 03/13/2012

Last Buyer's Agent

Ruben Khorsandi

Alliance Investment RE Group License #01085411

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Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1961

Lot Details

  • 0.42

Parking

  • 18 Parking Spaces

Home Design

  • 12,800 Sq Ft Home
  • Wood Siding
  • Stucco

Bedrooms and Bathrooms

  • 3 Bedrooms
  • 2 Bathrooms

Additional Features

  • Leased Washer and Dryer
  • 18,432 Sq Ft Lot
  • No Heating

Listing and Financial Details

  • Tenant pays for cable TV, electricity
  • Tax Lot 375
  • Tax Tract Number 283
  • Assessor Parcel Number 37528307

Community Details

Overview

  • 2 Buildings
  • 20 Units

Building Details

  • 20 Leased Units
  • 21 Separate Electric Meters
  • 1 Separate Gas Meter
  • 1 Separate Water Meter
  • Electric Expense $1,524
  • Gardener Expense $1,800
  • Insurance Expense $4,489
  • Maintenance Expense $10,403
  • Pest Control $576
  • Professional Management Expense $9,538
  • Trash Expense $1,149
  • Water Sewer Expense $6,457
  • New Taxes Expense $28,364
  • Gross Income $20,408
  • Net Operating Income $157,927

Property Details

Home Type

Multi-Family

Year Built

Built in 1961

Lot Details

0.42 Acres

Listing Details

  • Assessments: No
  • CapRate: 5.69
  • Professional Management Expense: 9538.00
  • View: No
  • Water Sewer Expenses: 6457.00
  • Property Type: Residential Income
  • Gardener Expense: 1800.00
  • Parcel Number: 37528307
  • Year Built: 1961
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: No
  • Appliances: No
  • Price Per Square Foot: 212.50

Exterior Features

  • Pool Private: No
  • Spa: No
  • Construction Materials: Stucco, Wood Siding

Garage/Parking

  • Parking: No
  • Total Parking Spaces: 18.00

Utilities

  • Heating: No
  • Laundry: No
  • Pest Control Expense: 576.00
  • Trash Expense: 1149.00

Condo/Co-op/Association

  • Senior Community: No

Lot Info

  • Lot Size Sq Ft: 18432.00
  • Lot Size Acres: 0.4230

Rental Info

  • Tenant Pays: Cable TV, Electricity

Multi Family

  • Electric Expense: 1524.00
  • Gross Income: 20408.00
  • Gross Multiplier: 11.33
  • Gross Scheduled Income: 244894.00
  • Gross Spendable Income: 41666.00
  • Insurance Expense: 4489.00
  • Laundry Equipment Own Lease: Lease
  • Lot Size Area: 18432.0000 Square Feet
  • Maintenance Expense: 10403.00
  • Net Operating Income: 157927.00
  • Number Of Separate Electric Meters: 21
  • Number Of Separate Gas Meters: 1
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 20
  • Number Of Units Total: 20
  • Operating Expense: 75045.00
  • Vacancy Allowance Rate: 5.00

Tax Info

  • New Taxes Expense: 28364.00
  • Tax Lot: 375
  • Tax Tract Number: 283

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
Oct 4, 2019
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
$3,000,000
Outstanding Balance
$2,569,324
Interest Rate
3.5%
Mortgage Type
Commercial

Purchase Details

Listed on
Mar 13, 2012
Closed on
Oct 11, 2012
Sold by
Bought by
Seller's Agent
Mike Marcu
Mike Marcu, Broker
Buyer's Agent
Ruben Khorsandi
Alliance Investment RE Group
List Price
$2,775,000
Sold Price
$2,720,000
Premium/Discount to List
-$55,000
-1.98%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$2,040,000
Interest Rate
3.5%
Mortgage Type
Future Advance Clause Open End Mortgage

Purchase Details

Closed on
Dec 22, 2003
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
$1,400,000
Interest Rate
6.03%
Mortgage Type
Commercial

Purchase Details

Closed on
Apr 15, 2002
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
$1,087,500
Interest Rate
5.87%
Mortgage Type
Construction
Source: Public Records

Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

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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
-- Fidelity National Title
-- Lawyers Title Company
-- Commonwealth Land Title Co
$1,450,000 Lawyers Title Company
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 $3,000,000
Previous Owner $2,040,000
Previous Owner $1,400,000
Previous Owner $1,087,500
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
10/27/2012 10/27/12 Sold $2,720,000 -2.0% $213 / Sq Ft
09/05/2012 09/05/12 Pending -- -- --
03/13/2012 03/13/12 For Sale $2,775,000 -- $217 / 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
2026 $22,922 $1,942,163 $1,131,012 $811,151
2025 $22,922 $1,904,082 $1,108,835 $795,247
2024 $22,398 $1,866,748 $1,087,094 $779,654
2023 $21,884 $1,830,146 $1,065,779 $764,367
2022 $21,444 $1,794,261 $1,044,881 $749,380
2021 $20,868 $1,759,080 $1,024,393 $734,687
2020 $20,673 $1,741,043 $1,013,889 $727,154
2019 $20,430 $1,706,905 $994,008 $712,897
2018 $20,124 $1,673,437 $974,518 $698,919
2017 $17,284 $1,443,014 $954,937 $488,077
2016 $16,962 $1,414,720 $936,213 $478,507
2015 $16,712 $1,393,470 $922,150 $471,320
2014 $16,358 $1,366,174 $904,086 $462,088
Source: Public Records

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: S691223

California Regional Multiple Listing Service (CRMLS)
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