Seller's Agent in 2020
Gary Tolfa
Triqor Group
(949) 756-3232
12 Total Sales
227 W Mayfair Ave Orange, CA 92867
3
Beds
2
Baths
2,340
Sq Ft
6,525
Sq Ft Lot
Highlights
- Furnished
- Living Room
- Tile Flooring
- Private Yard
- Laundry Room
- Ceiling Fan
About This Home
As of February 2020Pleased to present an opportunity to acquire a three-unit income property located in Old Towne Orange, CA. Built in 1955 and EXTENSIVELY renovated in 2019, the property offers a good mix of 1 and 2 bedroom units with a large backyard and ample parking. Each unit features a one car garage and additional driveway parking. The Mayfair Apartments offers an investor the opportunity to purchase a fully occupied income property with STRONG rental upside and long-term tenants. The property is conveniently located walking distance to Chapman University and the historical Orange Circle Plaza with shopping and many restaurants just around the corner. The building has been outfitted to operate EFFICIENTLY with low expenses and new upgrades. The plumbing has been replaced and updated to PVC. The current CAP RATE is 4.7%, with the cash on cash return projected above 6%. A detailed sheet on All renovations is available at request.
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1955 | Remodeled
Lot Details
- 6,525 Sq Ft Lot
- Two or More Common Walls
- Private Yard
Parking
- 3 Car Garage
Home Design
- Property Attached
Interior Spaces
- 2,340 Sq Ft Home
- Furnished
- Ceiling Fan
- Living Room
- Laundry Room
Kitchen
- Gas Cooktop
- Dishwasher
Flooring
- Tile
- Vinyl
Bedrooms and Bathrooms
- 3 Bedrooms
- 2 Bathrooms
Additional Features
- Suburban Location
- Gas Water Heater
Listing and Financial Details
- Tax Lot 14
- Tax Tract Number 1956
- Assessor Parcel Number 38647313
Community Details
Building Details
- 3 Leased Units
- 3 Separate Electric Meters
- 3 Separate Gas Meters
- 3 Separate Water Meters
- Insurance Expense $900
- Trash Expense $500
- New Taxes Expense $9,693
- Operating Expense $15,563
- Gross Income $60,900
- Net Operating Income $43,510
Additional Features
- 3 Units
- Laundry Facilities
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 02/14/2020 02/14/20 | Sold | $913,700 | -2.3% | $390 / Sq Ft | |
| 11/01/2019 11/01/19 | For Sale | $935,000 | +29.0% | $400 / Sq Ft | |
| 03/15/2019 03/15/19 | Sold | $725,000 | -17.6% | $310 / Sq Ft | View Prior Sale |
| 02/15/2019 02/15/19 | Pending | -- | -- | -- | |
| 12/04/2018 12/04/18 | For Sale | $880,000 | -- | $376 / 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 | $11,169 | $999,262 | $780,535 | $218,727 |
| 2024 | $11,169 | $979,669 | $765,230 | $214,439 |
| 2023 | $10,919 | $960,460 | $750,225 | $210,235 |
| 2022 | $10,706 | $941,628 | $735,515 | $206,113 |
| 2021 | $10,411 | $923,165 | $721,093 | $202,072 |
| 2020 | $8,489 | $739,500 | $665,600 | $73,900 |
| 2019 | $8,808 | $765,000 | $672,291 | $92,709 |
| 2018 | $8,675 | $750,000 | $659,108 | $90,892 |
| 2017 | $7,858 | $690,370 | $599,478 | $90,892 |
| 2016 | $7,849 | $690,370 | $599,478 | $90,892 |
| 2015 | $7,734 | $680,000 | $590,473 | $89,527 |
| 2014 | $7,295 | $640,000 | $550,473 | $89,527 |
Source: Public Records
Agents Affiliated with this Home
-
Gary Tolfa
-
Steve Ambuehl
Buyer's Agent in 2020
Steve Ambuehl
Ricci Realty
(714) 612-4398
26 in this area
64 Total Sales
-
Adela Olivares
A
Seller's Agent in 2019
Adela Olivares
New Century Realtors
(714) 619-8811
10 in this area
172 Total Sales
-
S
Buyer's Agent in 2019
Sheil Stampwala
Marcus & Millichap RE Invest
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: PW19258776
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.
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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