NOT LISTED FOR SALE

2024 E Whiting Ave Fullerton, CA 92831

3 Beds
2 Baths
4,660 Sq Ft
7,075 Sq Ft Lot

Last Sold October 20, 2021

Last sale price $1,820,000 $391 Per Sq Ft

19 Days on Market

Highlights

  • Private Yard
  • Troy High School Rated A+
  • Laundry Room

About This Home

As of October 2021

2024 E. Whiting Avenue is a rarely available 6 unit apartment complex in the city of Fullerton. The subject property is desirably comprised of majority two bedroom units making this asset in demand to investors and tenants. Additionally, tenants are provided garage parking, on-site laundry, air condition and secured entry with a private courtyard. Renters also benefit from the property’s proximity to Downtown Fullerton (approximately 2 miles) and Cal State Fullerton University (approximately 1 mile) as wells it’s convenient access to the 57, 91 & 5 Freeways allowing expedient travel throughout Orange & Los Angeles County. The property has been well maintained by the existing ownership with two of the units seeing full interior renovations. Great upside potential will allow the new owner to increase rents quickly while continuing the upgrading of the property and substantially improving the return on investment. All of these attributes attract long term renters at elevated rent levels leading to exceptional returns for the new investor in this complex.

Last Agent to Sell the Property

Rick Applebaum

Morgan Skenderian License #01273871 Listed on: 07/14/2021

Co-Listed By

Paul Espinosa

Morgan Skenderian License #01942627

Last Buyer's Agent

Michael Arp

Morgan Skenderian License #01488586

Property Details

Home Type

  • Apartment

Year Built

  • Built in 1961

Lot Details

  • 7,075 Sq Ft Lot
  • No Common Walls
  • Private Yard
  • Lawn

Parking

  • 6 Car Garage

Home Design

  • 4,660 Sq Ft Home

Bedrooms and Bathrooms

  • 3 Bedrooms
  • 2 Bathrooms

Additional Features

  • Laundry Room
  • Exterior Lighting
  • Sewer Paid

Listing and Financial Details

  • Tax Lot 40
  • Tax Tract Number 2807
  • Assessor Parcel Number 26909303

Community Details

Overview

  • 6 Units
  • Classic Homes Subdivision

Amenities

  • Laundry Facilities

Building Details

  • Rent Control
  • 7 Separate Electric Meters
  • 1 Separate Gas Meter
  • 1 Separate Water Meter
  • Electric Expense $2,216
  • Fuel Expense $2,216
  • Gardener Expense $1,800
  • Insurance Expense $1,864
  • Maintenance Expense $6,857
  • Other Expense $500
  • Trash Expense $2,216
  • Water Sewer Expense $2,216
  • New Taxes Expense $21,122
  • Operating Expense $41,007
  • Gross Income $2,616
  • Net Operating Income $73,274

Property Details

Home Type

Apartment

Year Built

Built in 1961

Lot Details

0

Parking

6

Listing Details

  • CapRate: 4.05
  • Other Phone Description: Office Phone
  • Other Phone Number: 949-251-8800
  • Price Per Unit: 301666
  • Property Attached: No
  • Subdivision Name Other: Classic Homes (CLAS)
  • Water Sewer Expenses: 2216.00
  • Property Type: Residential Income
  • Gardener Expense: 1800.00
  • Parcel Number: 26909303
  • Year Built: 1961
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: No Common Walls
  • Price Per Square Foot: 390.56

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 6.00
  • Total Parking Spaces: 6.00

Utilities

  • Laundry: Yes
  • Laundry Features: Community
  • Sewer: Sewer Paid
  • Trash Expense: 2216.00
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Common Interest: Community Apartment
  • Community Features: Street Lights

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Lawn, Yard
  • Lot Size Sq Ft: 7075.00
  • Lot Size Acres: 0.1624

Multi Family

  • Electric Expense: 2216.00
  • Fuel Expense: 2216.00
  • Gross Income: 2616.00
  • Gross Multiplier: 15.36
  • Gross Operating Income: 114282.00
  • Gross Scheduled Income: 117816.00
  • Insurance Expense: 1864.00
  • Laundry Income: 1416.00
  • Lot Size Area: 7075.0000 Square Feet
  • Maintenance Expense: 6857.00
  • Maintenance Percent: 6.00
  • Net Operating Income: 73274.00
  • Number Of Separate Electric Meters: 7
  • Number Of Separate Gas Meters: 1
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 6
  • Operating Expense: 41007.00
  • Operating Expense Percent: 34.80
  • Other Expense: 500.00
  • Other Expense Description: MISC
  • Other Income1: 1200.00
  • Rent Control: Yes
  • Total Expenses: 41007.00
  • Vacancy Allowance: 3534
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 21122.00
  • Tax Lot: 40
  • Tax Tract Number: 2807

Range of Values:

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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
10/20/2021 10/20/21 Sold $1,820,000 +0.6% $391 / Sq Ft
08/02/2021 08/02/21 Pending -- -- --
07/14/2021 07/14/21 For Sale $1,810,000 -- $388 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Rick Applebaum

    Seller's Agent in 2021

    Rick Applebaum

    Morgan Skenderian

    (949) 251-8800

    66 Total Sales

    Rick Applebaum
    Section Image
  • Paul Espinosa

    Seller Co-Listing Agent in 2021

    Paul Espinosa

    Morgan Skenderian

    (714) 206-2688

    36 Total Sales

    Paul Espinosa
    Section Image
  • Michael Arp

    Buyer's Agent in 2021

    Michael Arp

    Morgan Skenderian

    (714) 262-8992

    45 Total Sales

    Michael Arp
    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW21154134

California Regional Multiple Listing Service (CRMLS)

APN: 269-093-03

California Orange County Fullerton 92831

2024 E Whiting Ave, Fullerton, CA

This home is located at 2024 E Whiting Ave, Fullerton, CA 92831 since 14 July 2021. This property was built in 1961. 2024 E Whiting Ave is a home located in Orange County with nearby schools including Commonwealth Elementary School, Ladera Vista Junior High School, and Troy High School.

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.

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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