NOT LISTED FOR SALE
9 Beds
7 Baths
4,391 Sq Ft
7,841 Sq Ft Lot

Last Sold June 25, 2021

Last sale price $1,990,000 $453 Per Sq Ft

4 Days on Market

Highlights

  • All Bedrooms Downstairs
  • Open Floorplan
  • Park or Greenbelt View
  • College View Elementary School Rated 9+
  • Property is near a park
  • Stone Countertops

About This Home

As of June 2021

This Covington 4-plex offers everything a discerning investor would want, located in a highly sought-after rental market this well-maintained property offers an excellent unit mix including a 3 bedroom/2 bath, two – 2 bedroom/2 bath and one 2 bedroom/1 bath. The building has been upgraded over time including kitchens, bathrooms, double pained vinyl windows and sliding doors, vinyl wood like flooring, and composition shingle roof (2010). Unit 4 has more recently experienced a complete remodel to include an amazing kitchen offering quart countertops, new cabinets, brushed nickel hardware, stainless-steel appliances, a beautiful bathroom, and in unit washer/dryer. Property also includes a large, shared laundry room with individual laundry hook-ups for each unit, an enclosed garage space with each unit along with additional parking spaces next to the building. Located on a cul-de-sac in close proximity to major employers, grocery stores, businesses, parks, schools, Goldenwest College, Bella Terra and much more, this 4-plex is in the heart of Huntington Beach with easy freeway access. If you are looking for a multi-family investment property in a beach city that make sense, this turnkey property provides an excellent return in a stable rental market with low vacancy and turn over. Buyer to cooperate with Seller's 1031 Exchange.

Last Agent to Sell the Property

Jessica Hakimian

Coastal Realty Advisors Inc License #01774151 Listed on: 05/22/2021

Co-Listed By

Teri Diersing

Coastal Realty Advisors Inc License #02014063

Last Buyer's Agent

Zen Ziejewski

Real Broker License #00998118

Real Broker

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1968 | Remodeled

Lot Details

  • 7,841 Sq Ft Lot
  • Two or More Common Walls
  • Cul-De-Sac
  • South Facing Home
  • Wood Fence
  • Landscaped
  • Paved or Partially Paved Lot
  • Level Lot
  • Irregular Lot
  • Front Yard Sprinklers
  • Lawn

Parking

  • 4 Car Garage
  • 5 Open Parking Spaces
  • Rear-Facing Garage
  • Two Garage Doors
  • Parking Lot
  • Off-Street Parking
  • Assigned Parking

Property Views

  • Park or Greenbelt
  • Neighborhood

Home Design

  • Quadruplex
  • Turnkey
  • Slab Foundation
  • Shingle Roof
  • Composition Roof
  • Stucco

Interior Spaces

  • 4,391 Sq Ft Home
  • 2-Story Property
  • Open Floorplan
  • Gas Fireplace
  • Double Pane Windows
  • Blinds
  • Sliding Doors
  • Family Room with Fireplace
  • Living Room

Kitchen

  • Gas Oven
  • Gas Cooktop
  • Microwave
  • Water Line To Refrigerator
  • Dishwasher
  • Stone Countertops

Flooring

  • Carpet
  • Laminate
  • Vinyl

Bedrooms and Bathrooms

  • 9 Bedrooms
  • All Bedrooms Down
  • All Upper Level Bedrooms
  • 7 Bathrooms

Laundry

  • Laundry Room
  • Stacked Washer and Dryer

Home Security

  • Carbon Monoxide Detectors
  • Fire and Smoke Detector

Utilities

  • Central Heating
  • Heating System Uses Natural Gas
  • Natural Gas Connected
  • Gas Water Heater
  • Cable TV Available

Additional Features

  • Exterior Lighting
  • Property is near a park

Listing and Financial Details

  • Tenant pays for all utilities
  • Tax Lot 10
  • Tax Tract Number 6682
  • Assessor Parcel Number 14244118

Community Details

Overview

  • No Home Owners Association
  • 4 Units

Recreation

  • Park

Building Details

  • 4 Leased Units
  • 5 Separate Electric Meters
  • 5 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $358
  • Fuel Expense $457
  • Gardener Expense $960
  • Insurance Expense $2,842
  • Other Expense $1,285
  • Trash Expense $1,713
  • Water Sewer Expense $2,282
  • New Taxes Expense $20,857
  • Operating Expense $30,754
  • Gross Income $113,916
  • Net Operating Income $81,370

Property Details

Home Type

Multi-Family

Year Built

Built in 1968 | Remodeled

Lot Details

0

Parking

4

Listing Details

  • CapRate: 4.20
  • Price Per Unit: 474750
  • Property Attached: Yes
  • Road Surface Type: Paved
  • Security: Carbon Monoxide Detector(s), Smoke Detector(s)
  • Subdivision Name Other: Murdy
  • View: Yes
  • Water Sewer Expenses: 2282.00
  • Property Condition: Turnkey, Updated/Remodeled
  • Property Sub Type: Quadruplex
  • Property Type: Residential Income
  • Gardener Expense: 960.00
  • Parcel Number: 14244118
  • Year Built: 1968
  • Special Features: None

Interior Features

  • Fireplace: Yes
  • Interior Amenities: Open Floorplan, Stone Counters
  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Flooring: Carpet, Laminate, Vinyl
  • Appliances: Yes
  • Door Features: Sliding Doors
  • Fireplace Features: Family Room, Gas
  • Levels: Two
  • Price Per Square Foot: 453.20
  • Room Type: All Bedrooms Down, All Bedrooms Up, Family Room, Kitchen, Laundry, Living Room, Main Floor Bedroom, Main Floor Master Bedroom, Master Bedroom
  • Window Features: Blinds, Double Pane Windows

Exterior Features

  • Direction Faces: South
  • Foundation: Slab
  • View: Neighborhood, Park/Greenbelt
  • Fence: Yes
  • Fencing: Wood
  • Pool Private: No
  • Roof: Composition, Shingle
  • Spa: No
  • Construction Materials: Stucco

Garage/Parking

  • Garage Spaces: 4.00
  • Parking Features: Assigned, Paved, Garage, Garage Faces Rear, Garage - Two Door, Off Street, Parking Space
  • Total Parking Spaces: 9.00
  • Uncovered Spaces: 5.00

Utilities

  • Utilities: Cable Available, Electricity Connected, Natural Gas Connected, Phone Connected, Sewer Connected, Water Connected
  • Heating: Yes
  • Laundry: Yes
  • Appliances: Dishwasher, Gas Oven, Gas Range, Gas Cooktop, Gas Water Heater, Microwave, Water Heater, Water Line to Refrigerator
  • Heating Type: Central, Natural Gas, Fireplace(s)
  • Laundry Features: Gas Dryer Hookup, Individual Room, Stackable, Washer Hookup
  • Sewer: Public Sewer
  • Trash Expense: 1713.00
  • Water Source: Public

Condo/Co-op/Association

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

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Cul-De-Sac, Front Yard, Landscaped, Lawn, Irregular Lot, Level, Park Nearby, Paved, Sprinkler System, Sprinklers In Front, Sprinklers Timer
  • Lot Size Sq Ft: 7841.00
  • Lot Size Acres: 0.1800

Rental Info

  • Tenant Pays: All Utilities

Multi Family

  • Average2 Bed Area: 1002 Square Feet
  • Average3 Bed Area: 1405 Square Feet
  • Electric Expense: 358.00
  • Fuel Expense: 457.00
  • Gross Income: 113916.00
  • Gross Multiplier: 16.70
  • Gross Operating Income: 112302.00
  • Gross Scheduled Income: 113916.00
  • Insurance Expense: 2842.00
  • Lot Size Area: 7841.0000 Square Feet
  • Net Operating Income: 81369.99
  • Number Of Separate Electric Meters: 5
  • Number Of Separate Gas Meters: 5
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 4
  • Number Of Units Total: 4
  • Number With Dishwasher: 4
  • Number With Disposal: 4
  • Number With Range: 4
  • Number With Refrigerator: 1
  • Operating Expense: 30932.00
  • Operating Expense Percent: 26.70
  • Other Expense: 1285.00
  • Rent Control: No
  • Total Actual Rent: 9493.00
  • Total Expenses: 30754.00
  • Vacancy Allowance: 3277
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 20857.00
  • Tax Census Tract: 994.11
  • Tax Lot: 10
  • Tax Tract Number: 6682

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
06/25/2021 06/25/21 Sold $1,990,000 +4.8% $453 / Sq Ft
05/26/2021 05/26/21 Pending -- -- --
05/22/2021 05/22/21 For Sale $1,899,000 -- $432 / 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: OC21107761

California Regional Multiple Listing Service (CRMLS)