NOT LISTED FOR SALE

2036 E Whiting Ave Fullerton, CA 92831

3 Beds
2 Baths
10,368 Sq Ft
16,117 Sq Ft Lot

Last Sold August 12, 2020

Last sale price $3,693,334 $356 Per Sq Ft

48 Days on Market

Highlights

  • Laundry Room
  • Troy High School Rated A+
  • Landscaped

About This Home

As of August 2020

We are pleased to present the opportunity to acquire Magnolia Garden Apartments, a 14-unit multifamily investment property located in Fullerton, one of the strongest rental markets in Southern California.

Situated on a 0.37-acre lot, the 10,368 square foot property consists of 6, one-bedroom units and 8, two-bedroom units and offers amenities including garage parking, a spacious courtyard, security doors, and on-site laundry.

Last Agent to Sell the Property

Tyler Leeson

Marcus & Millichap RE Invest License #01451551 Listed on: 04/10/2020

Last Buyer's Agent

NoEmail NoEmail

NONMEMBER MRML

NONMEMBER MRML

Property Details

Home Type

  • Apartment

Year Built

  • Built in 1960

Lot Details

  • 0.37 Acre Lot
  • No Common Walls
  • Landscaped

Parking

  • 14 Car Garage

Interior Spaces

  • 10,368 Sq Ft Home
  • 2-Story Property
  • Laundry Room

Bedrooms and Bathrooms

  • 3 Bedrooms
  • 2 Bathrooms

Outdoor Features

  • Rain Gutters

Listing and Financial Details

  • Tax Lot 38
  • Tax Tract Number 2807
  • Assessor Parcel Number 26909304

Community Details

Overview

  • 2 Buildings
  • 14 Units

Amenities

  • Laundry Facilities

Building Details

  • 14 Leased Units
  • Rent Control
  • 14 Separate Electric Meters
  • 14 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $3,071
  • Fuel Expense $3,071
  • Insurance Expense $4,158
  • Maintenance Expense $7,000
  • Other Expense $7,950
  • Professional Management Expense $11,684
  • Trash Expense $3,071
  • Water Sewer Expense $3,071
  • New Taxes Expense $48,638
  • Operating Expense $91,712
  • Gross Income $267,540
  • Net Operating Income $167,928

Property Details

Home Type

Apartment

Year Built

Built in 1960

Lot Details

0.37 Acres

Parking

14

Listing Details

  • Professional Management Expense: 11684.00
  • Property Attached: No
  • Water Sewer Expenses: 3070.50
  • Zoning: R3
  • Property Type: Residential Income
  • Parcel Number: 26909304
  • 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: 356.22

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 14.00
  • Total Parking Spaces: 14.00

Utilities

  • Laundry: Yes
  • Laundry Features: Common Area
  • Sewer: Public Sewer
  • Trash Expense: 3070.50
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Common Interest: Community Apartment
  • Community Features: Curbs, Gutters, Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Landscaped
  • Lot Size Sq Ft: 16117.20
  • Lot Size Acres: 0.3700

Multi Family

  • Electric Expense: 3070.50
  • Fuel Expense: 3070.50
  • Gross Income: 267540.00
  • Gross Operating Income: 259640.00
  • Gross Scheduled Income: 263340.00
  • Insurance Expense: 4158.00
  • Lot Size Area: 0.3700 Acres
  • Maintenance Expense: 7000.00
  • Net Operating Income: 167928.00
  • Number Of Separate Electric Meters: 14
  • Number Of Separate Gas Meters: 14
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 14
  • Number Of Units Total: 14
  • Operating Expense: 91712.00
  • Other Expense: 7950.00
  • Other Expense Description: Misc
  • Other Income1: 4200.00
  • Other Income Description: Miscellaneous
  • Rent Control: Yes
  • Total Actual Rent: 21945.00
  • Total Expenses: 91712.00

Tax Info

  • New Taxes Expense: 48638.00
  • Tax Census Tract: 115.02
  • Tax Lot: 38
  • Tax Tract Number: 2807
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Property History

Date Event Price List to Sale Price per Sq Ft
08/12/2020 08/12/20 Sold $3,693,334 -12.1% $356 / Sq Ft
05/28/2020 05/28/20 Pending -- -- --
04/10/2020 04/10/20 For Sale $4,200,000 -- $405 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

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 $45,520 $3,997,781 $3,670,888 $326,893
2024 $45,520 $3,919,394 $3,598,910 $320,484
2023 $44,412 $3,842,544 $3,528,344 $314,200
2022 $44,095 $3,767,200 $3,459,160 $308,040
2021 $43,337 $3,693,334 $3,391,334 $302,000
2020 $26,414 $2,119,490 $1,804,323 $315,167
2019 $25,779 $2,077,932 $1,768,944 $308,988
2018 $25,398 $2,037,189 $1,734,259 $302,930
2017 $24,983 $1,997,245 $1,700,254 $296,991
2016 $24,482 $1,958,084 $1,666,916 $291,168
2015 $23,823 $1,928,672 $1,641,877 $286,795
2014 $23,152 $1,890,892 $1,609,714 $281,178
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: OC20071721

California Regional Multiple Listing Service (CRMLS)
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