NOT LISTED FOR SALE
8 Beds
6 Baths
4,087 Sq Ft
7,405 Sq Ft Lot

Last Sold December 24, 2018

Last sale price $1,420,000 $347 Per Sq Ft

35 Days on Market

About This Home

As of December 2018

The Mirada Villas is a pride of ownership, Covington style, 4-unit apartment complex located in prestigious Sunny Hills, Fullerton. The subject property is comprised of (1) 3 bedroom + 2 bath owners unit with fireplace & patio, (1) 2 bedroom + 2 bath, (1) 2 bedroom + 1 bath, and (1) 1 bedroom + 1 bath with patio. Tenant amenities include: private patios or balconies, garages, separate tenant electric and gas meters and an on-site laundry room for additional landlord income. The subject property has underdone numerous recent upgrades including: new concrete garage driveway apron, new vinyl fencing and new exterior LED lighting. The Mirada Villas are ideally located in Sunny Hills, Fullerton, offering tenants access to the prestigious Sunny Hills High School (a magnet school), Parks Jr High and the "Amerige Heights" shopping center with numerous retail amenities including: Target Superstore, Islands, Soup Plantation, McDonald's and many others - this location has historically produced extremely high tenant demand for stable occupancy, high resale value and high investor demand.

Last Agent to Sell the Property

Ed Diaz

Vanguard Property Group License #01022469 Listed on: 08/14/2018

Last Buyer's Agent

Ed Diaz

Vanguard Property Group License #01022469 Listed on: 08/14/2018

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1965

Lot Details

  • 7,405 Sq Ft Lot
  • Two or More Common Walls
  • Density is 2-5 Units/Acre

Parking

  • 6 Car Garage
  • Rear-Facing Garage
  • On-Street Parking

Home Design

  • Property Attached

Interior Spaces

  • 4,087 Sq Ft Home
  • 2-Story Property

Bedrooms and Bathrooms

  • 8 Bedrooms
  • 6 Bathrooms

Laundry

  • Laundry Room
  • Leased Washer and Dryer

Listing and Financial Details

  • Tax Lot 24
  • Tax Tract Number 5987
  • Assessor Parcel Number 28810207

Community Details

Building Details

  • 5 Separate Electric Meters
  • 5 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $400
  • Fuel Expense $581
  • Gardener Expense $1,140
  • Insurance Expense $1,300
  • Maintenance Expense $3,062
  • Trash Expense $442
  • Water Sewer Expense $3,575
  • New Taxes Expense $16,158
  • Operating Expense $26,701
  • Gross Income $1,200
  • Net Operating Income $49,208

Additional Features

  • 4 Units
  • Laundry Facilities

Property Details

Home Type

Multi-Family

Year Built

Built in 1965

Lot Details

0

Parking

6

Listing Details

  • Assessments: Yes
  • CapRate: 3.40
  • Property Attached: Yes
  • Subdivision Name Other: /
  • Water Sewer Expenses: 3575.00
  • Property Type: Residential Income
  • Gardener Expense: 1140.00
  • Parcel Number: 28810207
  • Year Built: 1965
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Levels: Two
  • Price Per Square Foot: 347.44

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 6.00
  • Parking Features: Garage Faces Rear, Street
  • Total Parking Spaces: 6.00

Utilities

  • Laundry: Yes
  • Laundry Features: Community
  • Sewer: Public Sewer
  • Trash Expense: 442.00
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Curbs

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 2-5 Units/Acre
  • Lot Size Sq Ft: 7405.00
  • Lot Size Acres: 0.1700

Multi Family

  • Electric Expense: 400.00
  • Fuel Expense: 581.00
  • Gross Income: 1200.00
  • Gross Multiplier: 18.39
  • Gross Operating Income: 75427.00
  • Gross Scheduled Income: 76560.00
  • Insurance Expense: 1300.00
  • Laundry Equipment Own Lease: Lease
  • Lot Size Area: 7405.0000 Square Feet
  • Maintenance Expense: 3062.00
  • Net Operating Income: 49208.00
  • Number Of Separate Electric Meters: 5
  • Number Of Separate Gas Meters: 5
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 4
  • Operating Expense: 26219.00
  • Rent Control: No
  • Total Actual Rent: 6380.00
  • Total Expenses: 26701.00
  • Vacancy Allowance: 2332
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 16158.00
  • Tax Census Tract: 17.04
  • Tax Lot: 24
  • Tax Tract Number: 5987

Range of Values:

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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 Change Sq Ft Price
12/24/2018 12/24/18 Sold $1,420,000 -0.7% $347 / Sq Ft
08/14/2018 08/14/18 For Sale $1,429,995 +30.6% $350 / Sq Ft
01/21/2016 01/21/16 Sold $1,095,000 +0.9% $268 / Sq Ft
11/01/2015 11/01/15 Pending -- -- --
10/22/2015 10/22/15 For Sale $1,085,000 -- $266 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW18196306

California Regional Multiple Listing Service (CRMLS)

APN: 288-102-07