164 & 172 Preble Dr Tustin, CA 92780
Estimated payment $23,413/month
Highlights
- 0.54 Acre Lot
- No HOA
- Cooling System Mounted To A Wall/Window
- Traditional Architecture
- Walk-In Closet
- Laundry Room
About This Home
TWO RARE TUSTIN FOURPLEXS ON TWO SEPARATE HUGE LOTS, CONVENTIONAL CONFORMING FINANCING (2 separate loans) - TWO SEPARATE PROPERTIES BEING SOLD TOGETHER; each property will qualify for it's own financing no commercial loan necessary!!! 164 Preble Drive (APN 401-591-14) and 172 Preble Drive (APN 401-591-15); Approximately 23,387 square feet (over a half acre) according to county records. Close to Police Station, Library, Community Center, Old Towne Tustin, City Cultural and Administrative Centers, Food, Stores, and Restaurants; lots to explore and all within walking distance. Each property is comprised of 4 two bedroom one bath units (approximately 900 sqft each), 4 garage spaces, laundry room, and 6 open parking spaces (Total of 8 units, 8 garage spaces, 2 laundry rooms, and 12 open parking spaces). Each unit has a large enclosed patio off the dining area and a wood burning fireplace. Upside in rents, current rents shown go into effect March 1, 2025. Laundry rooms are currently on month-to-month lease so new owner can negotiate a new contract with laundry company or put own machines in for even more income. Separately metered for electric, no gas, all units are 100% electric. Both buildings have been repiped with pex and have had the roof replaced in the last 10 years. Convenient location near the 5 and 55 freeways.
Listing Agent
ASM Investments Brokerage Email: jay.johnson.cfe@gmail.com License #00969110 Listed on: 10/18/2024
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1964
Lot Details
- 0.54 Acre Lot
- Property fronts an alley
- Two or More Common Walls
- Security Fence
- Wood Fence
- Redwood Fence
- Fence is in good condition
- Density is up to 1 Unit/Acre
- 40159115
Parking
- 8 Car Garage
- 12 Open Parking Spaces
- Parking Storage or Cabinetry
- Parking Available
- Tandem Garage
- Garage Door Opener
- Assigned Parking
Home Design
- Traditional Architecture
- Quadruplex
- Entry on the 1st floor
- Brick Exterior Construction
- Slab Foundation
- Shingle Roof
- Composition Roof
- Wood Siding
- Stucco
Interior Spaces
- 7,200 Sq Ft Home
- 1-Story Property
- Wood Burning Fireplace
- Blinds
- Window Screens
- Living Room with Fireplace
- Security Lights
Kitchen
- Electric Range
- Free-Standing Range
- Range Hood
- Disposal
Flooring
- Carpet
- Laminate
- Vinyl
Bedrooms and Bathrooms
- 16 Bedrooms
- Walk-In Closet
- 8 Bathrooms
Laundry
- Laundry Room
- Leased Washer and Dryer
Outdoor Features
- Exterior Lighting
- Rain Gutters
Location
- Suburban Location
Utilities
- Cooling System Mounted To A Wall/Window
- Heating Available
- Vented Exhaust Fan
- Electric Water Heater
- Phone Available
- Cable TV Available
Listing and Financial Details
- Tax Lot 14
- Tax Tract Number 3994
- Assessor Parcel Number 40159114
- $1,367 per year additional tax assessments
- Seller Considering Concessions
Community Details
Overview
- No Home Owners Association
- 2 Buildings
- 8 Units
Amenities
- Laundry Facilities
Building Details
- 8 Leased Units
- 10 Separate Electric Meters
- 2 Separate Water Meters
- Electric Expense $1,701
- Gardener Expense $4,800
- Insurance Expense $3,475
- Maintenance Expense $9,361
- Pest Control $400
- Trash Expense $3,064
- Water Sewer Expense $3,531
- Operating Expense $26,331
- Gross Income $234,876
- Net Operating Income $208,545
Map
Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 09/05/2025 09/05/25 | For Sale | $3,700,000 | 0.0% | $514 / Sq Ft |
| 05/20/2025 05/20/25 | Off Market | $3,700,000 | -- | -- |
| 02/05/2025 02/05/25 | Price Changed | $3,700,000 | -2.6% | $514 / Sq Ft |
| 01/18/2025 01/18/25 | Price Changed | $3,800,000 | -2.6% | $528 / Sq Ft |
| 12/02/2024 12/02/24 | Price Changed | $3,900,000 | -4.9% | $542 / Sq Ft |
| 11/17/2024 11/17/24 | Price Changed | $4,100,000 | -2.4% | $569 / Sq Ft |
| 10/30/2024 10/30/24 | Price Changed | $4,200,000 | -4.5% | $583 / Sq Ft |
| 10/18/2024 10/18/24 | For Sale | $4,400,000 | -- | $611 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: OC24214946
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
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
- 1112 1114 Napa St
- Plan 1643 Modeled at Stafford Glen
- Plan 1642 at Stafford Glen
- Plan 1387 Modeled at Stafford Glen
- 153 Balsawood
- 157 Balsawood
- 1091 Bonita St
- 1071 & 1073 Walnut St
- 1042 San Juan St
- 14032 Woodlawn Ave
- 1192 Mitchell Ave Unit 3
- 1192 Mitchell Ave Unit 7
- 14332 Kipling Ln
- 13611 Utt Dr
- 1321 Lance Dr
- 1582 Mitchell Ave
- 17121 Mcfadden Ave Unit 11
- 479 E 1st St Unit 10
- 453 E 1st St
- 465 E 1st St
- 1099 Bonita St Unit 2
- 1099 Bonita St Unit 1
- 1097 Bonita St
- 14011 Woodlawn Ave Unit 2
- 345 W Main St
- 1412 Nisson Rd
- 182 Preble Dr
- 1151 Walnut Ave
- 14160 Redhill Ave
- 17200 Mcfadden Ave
- 15482 Pasadena Ave
- 15622 Pasadena Ave Unit 21
- 131 Hall Cir
- 15491 Pasadena Ave
- 15962 S Myrtle Ave Unit 7
- 13843 Tustin East Dr
- 1322 Walnut Ave
- 530 W 1st St
- 13922 Tustin Dr E
- 1782 Andrews St