NOT LISTED FOR SALE

131 W Hoover Ave Orange, CA 92867

16 Beds
8 Baths
6,575 Sq Ft
0.48 Acres

Last Sold August 29, 2016

Last sale price $1,925,000 $293 Per Sq Ft

10 Days on Market

Highlights

  • 20,909 Sq Ft lot
  • 8 Car Garage
  • 1-Story Property
  • No HOA

About This Home

As of August 2016

Please review this upgraded, and owner maintained three building complex on almost 1/2 an Acre. The family has owned over 30 years. The complex is 100% single story construction made up of three buildings, eight garages, and eight open spots. The buildings have pitched roofs, washer and dryer hookups, and separate gas and electric meters. There is no owner gas or electric bill. Each unit has its own water heater and security screen door. 5 out of 8 of the units have had an extensive owner upgrade (Please refer to agent for pictures and list of items). Also, in 2007 all three buildings received new roofing. The front building has a gated front yard, and units have private yards. The property has well manacured landscaping and provides comely curb appeal.

This property is located in the City of Orange, just off of Katella Avenue and N Glassell Street. Less than two miles from the Honda Center and Angel Stadium and five miles from Disneyland, this property provides a central location to major retail, entertainment, and employment opportunities for tenants. The property is also minutes away from the 55 and 57 freeways for ease of transportation.

Last Agent to Sell the Property

Mark Bridge

Mark Bridge, Broker License #01316702 Listed on: 06/07/2016

Last Buyer's Agent

Mark Bridge

Mark Bridge, Broker License #01316702 Listed on: 06/07/2016

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1965

Lot Details

  • 0.48 Acre Lot
  • 1 Common Wall
  • Density is 6-10 Units/Acre

Parking

  • 8 Car Garage
  • Parking Available
  • Assigned Parking

Home Design

  • Property Attached
  • Entry on the 1st floor

Interior Spaces

  • 6,575 Sq Ft Home
  • 1-Story Property

Bedrooms and Bathrooms

  • 16 Bedrooms
  • 8 Bathrooms

Outdoor Features

  • Exterior Lighting
  • Rain Gutters

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Legal Lot and Block 375 / 271
  • Tax Tract Number 2
  • Assessor Parcel Number 37527102

Community Details

Overview

  • No Home Owners Association
  • 3 Buildings
  • 8 Units

Building Details

  • 8 Leased Units
  • 8 Separate Electric Meters
  • 8 Separate Gas Meters
  • 1 Separate Water Meter
  • Gardener Expense $1,440
  • Insurance Expense $2,860
  • Maintenance Expense $6,000
  • Other Expense $3,000
  • Professional Management Expense $6,644
  • Trash Expense $900
  • Water Sewer Expense $1,602
  • New Taxes Expense $22,445
  • Gross Income $11,415
  • Net Operating Income $87,785

Property Details

Home Type

Multi-Family

Year Built

Built in 1965

Lot Details

0

Parking

8

Listing Details

  • Assessments: Yes
  • CapRate: 4.56
  • Professional Management Expense: 6644.00
  • Property Attached: Yes
  • Water Sewer Expenses: 1602.00
  • Property Type: Residential Income
  • Gardener Expense: 1440.00
  • Parcel Number: 37527102
  • Year Built: 1965
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Stories: 1
  • Common Walls: 1 Common Wall
  • Entry Level: 1
  • Levels: One
  • Price Per Square Foot: 292.78

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 8.00
  • Parking: Yes
  • Parking Features: Assigned, Garage
  • Total Parking Spaces: 32.00

Utilities

  • Utilities: Sewer Available
  • Trash Expense: 900.00
  • Water Source: Public

Condo/Co-op/Association

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

Lot Info

  • Land Lease: No
  • Lot Features: 6-10 Units/Acre
  • Lot Size Sq Ft: 20909.00
  • Price Per Lot Square Foot: 92.07

Rental Info

  • Tenant Pays: Electricity, Gas

Multi Family

  • Average2 Bed Area: 822
  • Gross Income: 11415.00
  • Gross Multiplier: 14.05
  • Gross Scheduled Income: 136980.00
  • Gross Spendable Income: 87785.00
  • Insurance Expense: 2860.00
  • Maintenance Expense: 6000.00
  • Net Operating Income: 87785.00
  • Number Of Separate Electric Meters: 8
  • Number Of Separate Gas Meters: 8
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 8
  • Number Of Units Total: 8
  • Operating Expense: 45086.00
  • Other Expense: 3000.00
  • Other Expense Description: Reserves
  • Rent Control: No
  • Total Actual Rent: 11415.00
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 22445.00
  • Tax Block: 271
  • Tax Lot: 375
  • Tax Tract Number: 02

Range of Values:

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Value Increase
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Percent Increase
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Adjusted for Inflation
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
08/29/2016 08/29/16 Sold $1,925,000 0.0% $293 / Sq Ft
06/17/2016 06/17/16 Pending -- -- --
06/07/2016 06/07/16 For Sale $1,925,000 -- $293 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Mark Bridge

    Seller's Agent in 2016

    Mark Bridge

    Mark Bridge, Broker

    (949) 419-3200

    1 in this area

    51 Total Sales

    Mark Bridge
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: OC16125168

California Regional Multiple Listing Service (CRMLS)
California Orange County Orange 92867

131 W Hoover Ave, Orange, CA

Not Listed for Sale

MultiFamily

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California Regional Multiple Listing Service (CRMLS) The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.

Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information

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