NOT LISTED FOR SALE

241 S Park Ln Orange, CA 92866

Orange Area
4 Beds
3 Baths
2,327 Sq Ft
6,970 Sq Ft Lot

Sale Details

Date Sold: March 2, 2021

Last sale price $934,000 $401 Per Sq Ft

21 Days on Market

Highlights

  • All Bedrooms Downstairs
  • Granite Countertops
  • Cul-De-Sac
  • Open Floorplan
  • No HOA
  • Bungalow

About This Home

As of March 2021

Great Investment Opportunity, Very Nice Curb Appeal. All three units have a private back patio and their own garage with new doors. Spacious Bedrooms, All units have been remodeled within the past 5 years. The property is located near Historic Old Town Orange and Chapman University. Long Term Tenants. Do Not Disturb Tenants, Drive By Only, Subject to Inspection.

One unit will be delivered vacant so great opportunity for First Time Home buyer, or somebody who plans on living in one unit and renting out others.

Last Agent to Sell the Property

Nick Thompson

Embassy Financial Group Inc. License #02002181 Listed on: 01/07/2021

Last Buyer's Agent

Boules Betro

Century 21 Masters License #01787167

Century 21 Masters

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $7,995

Year Built

  • Built in 1961 | Remodeled

Lot Details

  • 6,970 Sq Ft Lot
  • Lot Dimensions are 97 x 68 x 119 x 64
  • Property fronts an alley
  • Two or More Common Walls
  • Cul-De-Sac
  • West Facing Home
  • Brick Fence
  • Level Lot

Parking

  • 3 Car Garage
  • 5 Open Parking Spaces
  • Parking Available
  • Assigned Parking

Home Design

  • Bungalow
  • Property Attached
  • Slab Foundation
  • Asphalt Roof
  • Stucco

Interior Spaces

  • 2,327 Sq Ft Home
  • Open Floorplan
  • Blinds

Kitchen

  • Gas Oven
  • Gas and Electric Range
  • Granite Countertops

Flooring

  • Carpet
  • Vinyl

Bedrooms and Bathrooms

  • 4 Bedrooms
  • All Bedrooms Down
  • 3 Bathrooms

Laundry

  • Dryer
  • Washer

Home Security

  • Carbon Monoxide Detectors
  • Fire and Smoke Detector

Additional Features

  • Rain Gutters
  • Wall Furnace

Listing and Financial Details

  • Tenant pays for electricity
  • Tax Lot 10
  • Tax Tract Number 4059
  • Assessor Parcel Number 39050204

Community Details

Overview

  • No Home Owners Association
  • 3 Units

Amenities

  • Laundry Facilities

Building Details

  • 3 Leased Units
  • 4 Separate Electric Meters
  • 4 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $588
  • Gardener Expense $720
  • Insurance Expense $1,496
  • Pest Control $600
  • Professional Management Expense $4,200
  • Trash Expense $1,872
  • Water Sewer Expense $2,556
  • New Taxes Expense $9,870
  • Operating Expense $21,902
  • Gross Income $63,912
  • Net Operating Income $51,880

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$7,995

Year Built

Built in 1961 | Remodeled

Lot Details

6,970 Sq Ft Lot

Parking

3

Listing Details

  • Assessments: No
  • CapRate: 5.50
  • Improvements Percent: 13.00
  • Professional Management Expense: 4200.00
  • Property Attached: Yes
  • Road Frontage Type: Alley, City Street
  • Road Surface Type: Paved
  • Security: Carbon Monoxide Detector(s), Smoke Detector(s)
  • View: No
  • Water Sewer Expenses: 2556.00
  • Architectural Style: Bungalow
  • Property Condition: Updated/Remodeled
  • Property Type: Residential Income
  • Gardener Expense: 720.00
  • Parcel Number: 39050204
  • Year Built: 1961
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: No
  • Interior Amenities: Granite Counters, Open Floorplan
  • Common Walls: 2+ Common Walls
  • Flooring: Carpet, Vinyl
  • Appliances: Yes
  • Price Per Square Foot: 401.38
  • Room Type: All Bedrooms Down, Main Floor Bedroom
  • Window Features: Blinds

Exterior Features

  • Direction Faces: West
  • Foundation: Slab
  • Exterior Features: Rain Gutters
  • Fence: Yes
  • Fencing: Brick
  • Pool Private: No
  • Roof: Asphalt
  • Spa: No
  • Construction Materials: Stucco

Garage/Parking

  • Garage Spaces: 3.00
  • Parking: Yes
  • Parking Features: Assigned, Garage
  • Total Parking Spaces: 8.00
  • Uncovered Spaces: 5.00

Utilities

  • Utilities: Electricity Available, Electricity Connected, Natural Gas Available, Natural Gas Connected, Sewer Available, Sewer Connected, Water Available, Water Connected
  • Heating: Yes
  • Laundry: Yes
  • Appliances: Gas & Electric Range, Gas Oven
  • Electric: Standard
  • Heating Type: Wall Furnace
  • Laundry Features: Common Area, Community, Dryer Included, Electric Dryer Hookup, Gas & Electric Dryer Hookup, Gas Dryer Hookup, Washer Hookup, Washer Included
  • Pest Control Expense: 600.00
  • Sewer: Public Sewer
  • Trash Expense: 1872.00
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Curbs, Gutters, Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Land Value Percent: 87.00
  • Lot Features: Cul-De-Sac, Level with Street
  • Lot Size: 97 x 68 x 119 x 64
  • Lot Size Sq Ft: 6970.00
  • Lot Size Acres: 0.1600

Rental Info

  • Tenant Pays: Electricity

Multi Family

  • Average1 Bed Area: 700 Square Feet
  • Average2 Bed Area: 826 Square Feet
  • Electric Expense: 588.00
  • Gross Income: 63912.00
  • Gross Multiplier: 14.85
  • Gross Operating Income: 63912.00
  • Gross Scheduled Income: 63912.00
  • Insurance Expense: 1496.00
  • Laundry Equipment Own Lease: Own
  • Lot Size Area: 6970.0000 Square Feet
  • Net Operating Income: 51880.00
  • Number Of Separate Electric Meters: 4
  • Number Of Separate Gas Meters: 4
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 3
  • Number Of Units Total: 3
  • Number With Carpet: 1
  • Number With Disposal: 3
  • Number With Patio: 3
  • Number With Range: 3
  • Operating Expense: 12032.00
  • Rent Control: No
  • Total Actual Rent: 5326.00
  • Total Expenses: 21902.00

Tax Info

  • New Taxes Expense: 9870.00
  • Tax Area: 08-001
  • Tax Lot: 10
  • Tax Rate: 1.04
  • Tax Tract Number: 4059
  • Tax Annual Amount: 7995.00
  • Tax Year: 2020

Ownership History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Name Owned For Owner Type

Purchase Details

Closed on
Jun 6, 2024
Sold by
Bought by

Purchase Details

Listed on
Jan 7, 2021
Closed on
Feb 10, 2021
Sold by
Bought by
Seller's Agent
Nick Thompson
Embassy Financial Group Inc.
Buyer's Agent
Boules Betro
Century 21 Masters
List Price
$949,000
Sold Price
$934,000
Premium/Discount to List
-$15,000
-1.58%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$700,500
Interest Rate
2.7%
Mortgage Type
New Conventional

Purchase Details

Listed on
Feb 20, 2015
Closed on
Jun 15, 2015
Sold by
Bought by
Seller's Agent
Robert Guthrie
Inet Realty
Buyer's Agent
Jill Medley
Jill Suzann Medley, Broker
List Price
$714,500
Sold Price
$630,000
Premium/Discount to List
-$84,500
-11.83%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
7.19%
Original Mortgage
$608,973
Interest Rate
3.12%
Mortgage Type
FHA

Purchase Details

Listed on
Feb 20, 2015
Closed on
May 6, 2015
Sold by
Bought by
Seller's Agent
Robert Guthrie
Inet Realty
Buyer's Agent
Jill Medley
Jill Suzann Medley, Broker
List Price
$714,500
Sold Price
$630,000
Premium/Discount to List
-$84,500
-11.83%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$608,973
Interest Rate
3.12%
Mortgage Type
FHA

Purchase Details

Closed on
Dec 22, 2014
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$30,000
Interest Rate
4%
Mortgage Type
New Conventional

Purchase Details

Closed on
Aug 27, 2013
Sold by
Bought by
Source: Public Records
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Buyer Sale Price Title Company
-- None Listed On Document
$934,000 Chicago Title
-- First American Title Company
$630,000 First American Title Company
-- First American Title Company
-- None Available
Source: Public Records

Mortgage History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Status Borrower Loan Amount
Previous Owner $700,500
Previous Owner $584,800
Previous Owner $601,678
Previous Owner $608,973
Previous Owner $30,000
Source: Public Records

Property History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Event Price List to Sale Price per Sq Ft Prior Sale
03/02/2021 03/02/21 Sold $934,000 -1.6% $401 / Sq Ft
01/28/2021 01/28/21 Pending -- -- --
01/07/2021 01/07/21 For Sale $949,000 +50.6% $408 / Sq Ft
07/01/2015 07/01/15 Sold $630,000 -11.8% $271 / Sq Ft View Prior Sale
05/01/2015 05/01/15 Pending -- -- --
02/20/2015 02/20/15 For Sale $714,500 -- $307 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

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 $11,290 $1,010,990 $886,512 $124,478
2024 $11,290 $991,167 $869,129 $122,038
2023 $11,038 $971,733 $852,087 $119,646
2022 $10,823 $952,680 $835,380 $117,300
2021 $8,070 $699,501 $608,328 $91,173
2020 $7,995 $692,329 $602,090 $90,239
2019 $7,899 $678,754 $590,284 $88,470
2018 $7,780 $665,446 $578,710 $86,736
2017 $7,466 $652,399 $567,363 $85,036
2016 $7,324 $639,607 $556,238 $83,369
2015 $1,471 $74,294 $28,038 $46,256
2014 $1,440 $72,839 $27,489 $45,350
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: RS20264253

California Regional Multiple Listing Service (CRMLS)

APN: 390-502-04

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