NOT LISTED FOR SALE

2040 Associated Rd Fullerton, CA 92831

Cal State Fullerton Neighborhood
10 Beds
10 Baths
4,527 Sq Ft
7,405 Sq Ft Lot

Last Sold May 15, 2021

Last sale price $1,615,000 $357 Per Sq Ft

22 Days on Market

About This Home

As of May 2021

Extraordinarily large four-plex with upside in the rents. Most of the windows are dual-pane glass and some of the interiors have updated kitchens and bathrooms. This neighborhood provides housing to many students who attend nearby universities. A key difference this property offers as compared to the neighboring buildings is the additional bathrooms; The (2) Three-Bedroom Units have 2.5 Bathrooms and the (2) Two-Bedroom Units have 2 Bathrooms making this a rare opportunity. The current tenants have been occupying the building for many years making for a steady rental income history and reliable returns. Additionally the income can be improved substantially as there is upside in the rents. It is an “all electric’ building with individual meters. This property also offers fantastic exposure on Associated Road. The current owner strategically kept the parking as carports instead of garages in order to make sure the tenants do not use the garages for storage (6 Spaces).

Last Agent to Sell the Property

Michael Sacks

Coldwell Banker Realty License #01945984 Listed on: 04/02/2021

Coldwell Banker Realty

Last Buyer's Agent

Janet Lu

RE/MAX 2000 REALTY License #01403197

RE/MAX 2000 REALTY

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1964

Lot Details

  • 7,405 Sq Ft Lot
  • No Common Walls
  • Density is 2-5 Units/Acre

Interior Spaces

  • 4,527 Sq Ft Home
  • 2-Story Property

Bedrooms and Bathrooms

  • 10 Bedrooms
  • 10 Bathrooms

Laundry

  • Laundry Room
  • Dryer
  • Washer

Listing and Financial Details

  • Tax Lot 72
  • Tax Tract Number 4759
  • Assessor Parcel Number 33709401

Community Details

Overview

  • 4 Units
  • University Villas Subdivision

Amenities

  • Laundry Facilities

Building Details

  • 4 Leased Units
  • Rent Control
  • 5 Separate Electric Meters
  • 5 Separate Gas Meters
  • 1 Separate Water Meter
  • New Taxes Expense $18,000
  • Gross Income $92,160
  • Net Operating Income $61,783

Property Details

Home Type

Multi-Family

Year Built

Built in 1964

Lot Details

0

Listing Details

  • Property Attached: No
  • Subdivision Name Other: University Villas (UNIV)
  • Property Type: Residential Income
  • Parcel Number: 33709401
  • Year Built: 1964
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Stories: 2
  • Common Walls: No Common Walls
  • Levels: Two
  • Price Per Square Foot: 356.75

Exterior Features

  • Pool Private: No

Utilities

  • Laundry: Yes
  • Laundry Features: Community, Dryer Included, Washer Included
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Curbs

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 2-5 Units/Acre
  • Lot Size Sq Ft: 7405.00
  • Lot Size Acres: 0.1700

Multi Family

  • Gross Income: 92160.00
  • Gross Operating Income: 89395.00
  • Gross Scheduled Income: 92160.00
  • Lot Size Area: 7405.0000 Square Feet
  • Net Operating Income: 61783.00
  • 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
  • Operating Expense: 27612.00
  • Operating Expense Percent: 30.00
  • Rent Control: Yes
  • Vacancy Allowance: 2765
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 18000.00
  • Tax Census Tract: 117.08
  • Tax Lot: 72
  • Tax Tract Number: 4759

Range of Values:

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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 Change Sq Ft Price
05/15/2021 05/15/21 Sold $1,615,000 -0.6% $357 / Sq Ft
04/19/2021 04/19/21 Price Changed $1,625,000 +2.3% $359 / Sq Ft
04/02/2021 04/02/21 For Sale $1,589,000 -- $351 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • M

    Seller's Agent in 2021

    Michael Sacks

    Coldwell Banker Realty

    Section Image
  • Janet Lu

    Buyer's Agent in 2021

    Janet Lu

    RE/MAX

    (909) 802-8696

    1 in this area

    29 Total Sales

    Janet Lu
    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW21069338

California Regional Multiple Listing Service (CRMLS)

APN: 337-094-01

California Orange County Fullerton 92831 Cal State Fullerton

2040 Associated Rd, Fullerton, CA

This home is located at 2040 Associated Rd, Fullerton, CA 92831 since 02 April 2021. This property was built in 1964. 2040 Associated Rd is a home located in Orange County with nearby schools including Rolling Hills Elementary School, Ladera Vista Junior High School, and Troy High School.

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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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