NOT LISTED FOR SALE

2038 N Park Ln Orange, CA 92865

9 Beds
6 Baths
4,394 Sq Ft
9,360 Sq Ft Lot

Last Sold October 18, 2013

Last sale price $890,000 $203 Per Sq Ft

43 Days on Market

About This Home

As of October 2013

The Park Lane Apartments, are a well maintained, Covington style 4-plex comprised of four nicely appointed units: 1 (3+2.5 TH), 1 (2+2), and 2 (2+1.5 TH). Constructed in 1975, the subject property has 4,394 rentable square feet and sits atop a 9,360 square foot lot. Three of the four units are townhome style with an upstairs downstairs floor plan. All 4 have enclosed patio areas and have access to a gated back yard area. There are 5 enclosed garages at the property (one is used for storage) along with two additional spaces. Each of the units is separately metered for gas and electric and has central A/C. An onsite laundry room brings in additional income.

Last Agent to Sell the Property

Michael Arp

Morgan Skenderian License #01488586 Listed on: 07/18/2013

Last Buyer's Agent

Phu Vincent Nguyen

Bolsa Realty Group License #01268097

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1975

Lot Details

  • 9,360 Sq Ft Lot
  • Two or More Common Walls
  • Density is up to 1 Unit/Acre

Parking

  • 5 Car Garage
  • 2 Carport Spaces

Home Design

  • Property Attached

Interior Spaces

  • 4,394 Sq Ft Home
  • 2-Story Property
  • Leased Washer and Dryer

Bedrooms and Bathrooms

  • 9 Bedrooms
  • 6 Bathrooms

Listing and Financial Details

  • Tenant pays for cable TV, electricity, gas
  • Tax Tract Number 158
  • Assessor Parcel Number 37213120

Community Details

Overview

  • No Home Owners Association
  • 4 Units

Building Details

  • 4 Leased Units
  • 5 Separate Electric Meters
  • 5 Separate Gas Meters
  • 1 Separate Water Meter
  • New Taxes Expense $10,065
  • Gross Income $6,045
  • Net Operating Income $48,602

Property Details

Home Type

Multi-Family

Year Built

Built in 1975

Lot Details

9,360 Sq Ft Lot

Parking

5

Listing Details

  • CapRate: 5.31
  • Property Attached: Yes
  • Property Type: Residential Income
  • Parcel Number: 37213120
  • Year Built: 1975
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Levels: Two
  • Price Per Square Foot: 202.55

Exterior Features

  • Pool Private: No

Garage/Parking

  • Carport Spaces: 2.00
  • Garage Spaces: 5.00
  • Total Parking Spaces: 7.00

Utilities

  • Utilities: Sewer Connected
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Community Features: Sidewalks

Lot Info

  • Lot Features: 0-1 Unit/Acre
  • Lot Size Sq Ft: 9360.00
  • Lot Size Acres: 0.2150

Rental Info

  • Tenant Pays: Cable TV, Electricity, Gas

Multi Family

  • Gross Income: 6045.00
  • Gross Multiplier: 12.60
  • Gross Scheduled Income: 72540.00
  • Laundry Equipment Own Lease: Lease
  • Lot Size Area: 9360.0000 Square Feet
  • Net Operating Income: 48602.00
  • 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 Disposal: 4
  • Number With Range: 4
  • Operating Expense: 21762.00
  • Operating Expense Percent: 30.00
  • Rent Control: No
  • Total Actual Rent: 5845.00
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 10065.00
  • Tax Tract Number: 158
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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
10/18/2013 10/18/13 Sold $890,000 -2.7% $203 / Sq Ft
08/30/2013 08/30/13 Pending -- -- --
07/18/2013 07/18/13 For Sale $915,000 -- $208 / 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 $14,156 $1,091,013 $819,029 $271,984
2024 $14,156 $1,237,195 $965,272 $271,923
2023 $13,839 $1,212,937 $946,345 $266,592
2022 $13,568 $1,189,154 $927,789 $261,365
2021 $13,195 $1,165,838 $909,597 $256,241
2020 $13,073 $1,153,884 $900,270 $253,614
2019 $12,912 $1,131,259 $882,617 $248,642
2018 $12,717 $1,109,078 $865,311 $243,767
2017 $12,197 $1,087,332 $848,344 $238,988
2016 $11,964 $1,066,012 $831,710 $234,302
2015 $10,319 $907,782 $681,474 $226,308
2014 -- $890,000 $668,125 $221,875
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW13142055

California Regional Multiple Listing Service (CRMLS)

APN: 372-131-20

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