NOT LISTED FOR SALE

1929 E Adams Ave Orange, CA 92867

3 Beds
2 Baths
2,820 Sq Ft
8,276 Sq Ft Lot

Last Sold October 21, 2022

Last sale price $975,000 $346 Per Sq Ft

52 Days on Market

Highlights

  • No HOA
  • Forced Air Heating System
  • Rectangular Lot
  • Laundry Room

About This Home

As of October 2022

Price reduced for quick sale! The Adams Avenue Triplex is a well-located apartment building in Orange which sits just east of N. Tustin St. and south of Katella. The two-story structure measures 2,820 square feet and sits atop a large, 8,011 square foot lot. The unit mix consists of (2) 2 bed 1bath townhomes & (1) 1 bed 1 bath. The 2 bed townhomes measure approximately 1,100 SF while the 1 bed is 620 SF. Apartment amenities include: enclosed yards (2 beds) and patio (1 bed), laundry hookups, garage & open parking spaces, individual water heaters, and all apartments have access to a large enclosed back yard area behind the structure. The rear yard area presents an excellent opportunity to add an ADU. The Adams Avenue triplex is conveniently located off N Tustin St. which is host to many restaurants and retail shopping venues while being within blocks of the 55 freeway.

Last Agent to Sell the Property

Michael Arp

Morgan Skenderian License #01488586 Listed on: 07/29/2022

Co-Listed By

Jay Skenderian

Morgan Skenderian License #01220368

Last Buyer's Agent

Sammer Mudawar

The Brokeredge License #01723613

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1960

Lot Details

  • 8,276 Sq Ft Lot
  • No Common Walls
  • Rectangular Lot
  • Level Lot

Parking

  • 3 Car Garage
  • 3 Open Parking Spaces
  • Parking Available
  • Front Facing Garage

Interior Spaces

  • 2,820 Sq Ft Home
  • 2-Story Property

Bedrooms and Bathrooms

  • 3 Bedrooms
  • 2 Bathrooms

Laundry

  • Laundry Room
  • Washer and Electric Dryer Hookup

Outdoor Features

  • Exterior Lighting

Utilities

  • Forced Air Heating System
  • Natural Gas Connected
  • Cable TV Available

Listing and Financial Details

  • Tenant pays for cable TV, electricity, gas
  • Tax Lot 12
  • Tax Tract Number 2881
  • Assessor Parcel Number 37554141
  • $749 per year additional tax assessments

Community Details

Overview

  • No Home Owners Association
  • 3 Units

Building Details

  • 3 Separate Electric Meters
  • 3 Separate Gas Meters
  • 1 Separate Water Meter
  • Gardener Expense $1,259
  • Insurance Expense $1,600
  • Maintenance Expense $2,100
  • Trash Expense $900
  • Water Sewer Expense $1,566
  • New Taxes Expense $11,460
  • Operating Expense $19,729
  • Gross Income $4,860
  • Net Operating Income $35,795

Property Details

Home Type

Multi-Family

Year Built

Built in 1960

Lot Details

0

Parking

3

Listing Details

  • CapRate: 3.88
  • Property Attached: No
  • Water Sewer Expenses: 1566.00
  • Zoning: R3
  • Property Type: Residential Income
  • Gardener Expense: 1259.00
  • Parcel Number: 37554141
  • Year Built: 1960
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Stories: 2
  • Common Walls: No Common Walls
  • Levels: Two
  • Price Per Square Foot: 345.74

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 3.00
  • Parking: Yes
  • Parking Features: Garage Faces Front
  • Total Parking Spaces: 6.00
  • Uncovered Spaces: 3.00

Utilities

  • Utilities: Cable Available, Electricity Connected, Natural Gas Connected, Water Connected
  • Heating: Yes
  • Laundry: Yes
  • Heating Type: Forced Air
  • Laundry Features: Electric Dryer Hookup, Washer Hookup
  • Sewer: Public Sewer
  • Trash Expense: 900.00
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Sidewalks, Street Lights

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Level with Street, Rectangular Lot
  • Lot Size Sq Ft: 8276.00
  • Lot Size Acres: 0.1900
  • Latitude Manual: 33.80661600

Rental Info

  • Tenant Pays: Cable TV, Electricity, Gas

Multi Family

  • Average1 Bed Area: 620 Square Feet
  • Average2 Bed Area: 1100 Square Feet
  • Gross Income: 4860.00
  • Gross Multiplier: 17.07
  • Gross Operating Income: 56570.00
  • Gross Scheduled Income: 58320.00
  • Insurance Expense: 1600.00
  • Lot Size Area: 8276.0000 Square Feet
  • Maintenance Expense: 2100.00
  • Net Operating Income: 35795.00
  • Number Of Separate Electric Meters: 3
  • Number Of Separate Gas Meters: 3
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 3
  • Operating Expense: 20775.00
  • Operating Expense Percent: 35.00
  • Rent Control: No
  • Total Expenses: 19729.00
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 11460.00
  • Tax Census Tract: 758.12
  • Tax Lot: 12
  • Tax Tract Number: 2881
  • TaxOtherAnnualAssessmentAmount: 749.00

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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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

Property History

Date Event Price List to Sale Price per Sq Ft
10/21/2022 10/21/22 Sold $975,000 -11.0% $346 / Sq Ft
09/06/2022 09/06/22 Price Changed $1,095,000 -8.4% $388 / Sq Ft
07/29/2022 07/29/22 For Sale $1,195,000 -- $424 / 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 $13,583 $1,249,610 $1,006,527 $243,083
2024 $13,583 $1,183,465 $986,791 $196,674
2023 $11,073 $975,000 $881,925 $93,075
2022 $8,155 $700,177 $596,467 $103,710
2021 $7,933 $686,449 $584,772 $101,677
2020 $7,860 $679,411 $578,776 $100,635
2019 $7,765 $666,090 $567,428 $98,662
2018 $7,648 $653,030 $556,302 $96,728
2017 $7,340 $640,226 $545,394 $94,832
2016 $7,201 $627,673 $534,700 $92,973
2015 $7,096 $618,245 $526,668 $91,577
2014 $6,945 $606,135 $516,351 $89,784
Source: Public Records

Agents Affiliated with this Home

  • Michael Arp

    Seller's Agent in 2022

    Michael Arp

    Morgan Skenderian

    (714) 262-8992

    8 in this area

    45 Total Sales

    Michael Arp
    Section Image
  • Jay Skenderian

    Seller Co-Listing Agent in 2022

    Jay Skenderian

    Morgan Skenderian

    (949) 251-8800

    2 in this area

    18 Total Sales

    Jay Skenderian
    Section Image
  • Sammer Mudawar

    Buyer's Agent in 2022

    Sammer Mudawar

    The Brokeredge

    (714) 660-4008

    3 in this area

    49 Total Sales

    Sammer Mudawar
    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW22166913

California Regional Multiple Listing Service (CRMLS)

APN: 375-541-41

California Orange County Orange 92867

1929 E Adams 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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