NOT LISTED FOR SALE

150 W Walnut Ave Orange, CA 92867

Estimated Value: $1,248,000 - $1,477,586

4 Beds
3 Baths
1,916 Sq Ft
$730/Sq Ft Est. Value

Last Sold March 21, 2022

Last sale price $1,350,000 $705 Per Sq Ft

Est. 4% increase in value since last sale

Current estimated payment $8,613/month

3 Days on Market

Highlights

  • Wood Flooring
  • Built-In Features
  • Laundry Room
  • No HOA
  • Park
  • Central Air

About This Home

As of March 2022

DRIVE BY ONLY - DO NOT DISTURB TENANTS - 2 Detached homes on one lot! Rare opportunity to own a prime income producing duplex that is steps away from Chapman University. Located in the heart of Old Town Orange with high rental demand for college students these 2 properties have strong income potential. The 150 W Walnut Unit has 2 Bedrooms, 1 Bathroom, estimated 958 square feet with a fire place in the living room. There is wood flooring throughout the unit, built in cabinet storage with a kitchen ready for bar seating. There is a private fenced patio in the backyard with a fruit tree & a detached garage. 495 N Olive has 2 bedrooms, 2 bathrooms, estimated 958 square feet with an open floor plan and bar seating in the kitchen. Each bedroom is equipped with its own private bathroom. There is an intimate outside backyard area to soak in the sun. Continuous rental demand can be found with this location on a beautiful historic, well cared for neighborhood with immediate proximity to Chapman University. Enjoy all the amenities of the Orange Circle including shopping, restaurants & community events.

Last Agent to Sell the Property

Garett Green

Joseph Martelli R E Invst Inc License #01874973 Listed on: 01/28/2022

Last Buyer's Agent

Garett Green

Joseph Martelli R E Invst Inc License #01874973 Listed on: 01/28/2022

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1926

Lot Details

  • 4,979 Sq Ft Lot
  • No Common Walls
  • Density is 2-5 Units/Acre

Parking

  • 2 Car Garage

Home Design

  • Duplex

Interior Spaces

  • 1,916 Sq Ft Home
  • 1-Story Property
  • Built-In Features
  • Entryway
  • Living Room with Fireplace
  • Wood Flooring
  • Laundry Room

Kitchen

  • Microwave
  • Dishwasher

Bedrooms and Bathrooms

  • 4 Bedrooms
  • 3 Bathrooms

Outdoor Features

  • Rain Gutters

Utilities

  • Central Air
  • Natural Gas Connected
  • Water Heater
  • Phone Available
  • Cable TV Available

Listing and Financial Details

  • Tenant pays for all utilities
  • Legal Lot and Block 23 / A
  • Tax Tract Number 169
  • Assessor Parcel Number 03914401
  • $500 per year additional tax assessments

Community Details

Overview

  • No Home Owners Association
  • 2 Buildings
  • 2 Units

Recreation

  • Park

Building Details

  • 2 Leased Units
  • 2 Separate Electric Meters
  • 2 Separate Gas Meters
  • 2 Separate Water Meters
  • Insurance Expense $2,000
  • Operating Expense $2,000
  • Gross Income $57,000
  • Net Operating Income $57,000

Property Details

Home Type

Multi-Family

Year Built

Built in 1926

Lot Details

0

Parking

2

Listing Details

  • Assessments: Yes
  • Property Attached: No
  • Subdivision Name Other: Old Town Orange
  • View: No
  • Property Sub Type: Duplex
  • Property Type: Residential Income
  • Parcel Number: 03914401
  • Year Built: 1926
  • Special Features: None

Interior Features

  • Fireplace: Yes
  • Interior Amenities: Built-in Features
  • Stories: 1
  • Common Walls: No Common Walls
  • Flooring: Wood
  • Appliances: Yes
  • Fireplace Features: Living Room
  • Levels: One
  • Price Per Square Foot: 704.59
  • Room Type: All Bedrooms Down, Entry, Kitchen, Living Room, Master Bedroom

Exterior Features

  • Pool Private: No
  • Spa: No

Garage/Parking

  • Garage Spaces: 2.00
  • Total Parking Spaces: 2.00

Utilities

  • Utilities: Cable Available, Electricity Connected, Natural Gas Connected, Phone Available, Sewer Connected, Water Connected
  • Laundry: Yes
  • Appliances: Dishwasher, Microwave, Refrigerator, Water Heater
  • Laundry Features: In Closet
  • Sewer: Public Sewer
  • Water Source: Public
  • Cooling: Central Air
  • Cooling: Yes

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Curbs, Gutters, Park

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 2-5 Units/Acre
  • Lot Size Sq Ft: 4979.00
  • Lot Size Acres: 0.1143

Rental Info

  • Tenant Pays: All Utilities

Multi Family

  • Gross Income: 57000.00
  • Gross Scheduled Income: 57000.00
  • Insurance Expense: 2000.00
  • Lot Size Area: 4979.0000 Square Feet
  • Net Operating Income: 57000.00
  • Number Of Separate Electric Meters: 2
  • Number Of Separate Gas Meters: 2
  • Number Of Separate Water Meters: 2
  • Number Of Units Leased: 2
  • Number Of Units Total: 2
  • Number With Dishwasher: 2
  • Number With Disposal: 2
  • Number With Patio: 2
  • Number With Refrigerator: 2
  • Rent Control: No
  • Total Actual Rent: 4750.00
  • Total Expenses: 2000.00

Tax Info

  • Tax Block: A
  • Tax Census Tract: 759.01
  • Tax Lot: 23
  • Tax Tract Number: 169
  • TaxOtherAnnualAssessmentAmount: 500.00

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jan 28, 2022
Closed on
Feb 10, 2022
Sold by
Martell Family Trust
Bought by
Chapman University
Seller's Agent
Garett Green
Joseph Martelli R E Invst Inc
Buyer's Agent
Garett Green
Joseph Martelli R E Invst Inc
List Price
$1,049,999
Sold Price
$1,350,000
Premium/Discount to List
$300,001
28.57%
Current Estimated Value
$1,398,897

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$48,897
Avg. Annual Appreciation
0.95%

Purchase Details

Closed on
Aug 10, 2021
Sold by
Glassell Sycamore Llc
Bought by
Chapman University

Purchase Details

Closed on
Aug 19, 2014
Sold by
Fey Therese M
Bought by
Fey Therese M

Purchase Details

Closed on
Jul 17, 2014
Sold by
Fey Stephen William
Bought by
Fey Therese M

Purchase Details

Closed on
Jul 29, 2005
Sold by
Martelli Joseph M and Martelli Lisa Gayle
Bought by
Martelli Joseph M and Martelli Lisa Gayle

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$359,650
Interest Rate
5.46%
Mortgage Type
Stand Alone Refi Refinance Of Original Loan
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Chapman University $1,350,000 First American Title
Therese M Fey Trust -- First American Title
Chapman University $3,500,000 First Amer Ttl Ins Co Ncs
Fey Therese M -- None Available
Fey Therese M -- None Available
Martelli Joseph M -- North American Title Co
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Martelli Joseph M $359,650
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
03/21/2022 03/21/22 Sold $1,350,000 +28.6% $705 / Sq Ft
01/28/2022 01/28/22 For Sale $1,049,999 -- $548 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Tax History

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 $15,392 $1,432,630 $1,289,367 $143,263
2024 $15,392 $1,404,540 $1,264,086 $140,454
2023 $15,056 $1,377,000 $1,239,300 $137,700
2022 $4,179 $347,695 $263,748 $83,947
2021 $4,067 $340,878 $258,577 $82,301
2020 $4,029 $337,383 $255,925 $81,458
2019 $3,982 $330,768 $250,907 $79,861
2018 $3,923 $324,283 $245,987 $78,296
2017 $3,768 $317,925 $241,164 $76,761
2016 $3,698 $311,692 $236,436 $75,256
2015 $3,644 $307,011 $232,885 $74,126
2014 $3,567 $300,998 $228,324 $72,674
Source: Public Records

Agents Affiliated with this Home

  • G

    Seller's Agent in 2022

    Garett Green

    Joseph Martelli R E Invst Inc

    (714) 778-5300

    6 in this area

    27 Total Sales

    Garett Green
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW22017587

California Regional Multiple Listing Service (CRMLS)

APN: 039-144-01

California Orange County Orange 92866

150 W Walnut Ave, Orange, CA

Not Listed for Sale

MultiFamily

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