Seller's Agent in 2021
Michael Arp
Morgan Skenderian
(714) 262-8992
8 in this area
43 Total Sales
248 S Oak St Orange, CA 92866
6
Beds
5
Baths
3,527
Sq Ft
0.25
Acres
Highlights
- Rectangular Lot
- Wall Furnace
- 1-Story Property
About This Home
As of December 2021Rare value add opportunity in the city of Orange to acquire a 75% vacant 4-plex and the adjacent lot (zoned R-3 for multifamily) that is ready to build. 248 S. Oak Street is a single story 4-plex which is currently configured as (1) 3BD/1.75BA, (1) 2BD/1BA, (1) 1BD/1BA and (1) Studio/1BA. The 3 bedroom and studio can easily be converted back into their original configuration of 1 and 2 bedroom apartments. The property allows for an investor to add value as three units are vacant and can be rented at market level rents once repairs are completed. All apartments feature spacious layouts which include a kitchen nook area and sliding glass doors in the living rooms that open to patios. The building structure for 248 S. Oak Street is 3,528 and the rectangular shaped lot measures 10,972 square feet. The subject property is located just south of Chapman Ave. and is only 1.2 miles from Old Towne Orange.
230 S. Oak (parcel number 390-491-14) is a rectangular shaped lot which measures 9,287 square feet and is adjacent to the lot for 248 S. Oak Street. The lot should be ready to build as there is a driveway that has already been poured and an empty pool (fenced off for safety reasons) which sits at the back of the property. Per the City of Orange the lot is zoned R-3(A) for multifamily single story. 230 S. Oak Street is listed for sale for $450,000 and can be purchased together with 248 S. Oak Street or separately.
Last Agent to Sell the Property
Morgan Skenderian License #01488586 Listed on: 08/26/2021
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1960
Lot Details
- 0.25 Acre Lot
- No Common Walls
- Rectangular Lot
Parking
- 4 Open Parking Spaces
- 4 Car Garage
Interior Spaces
- 3,527 Sq Ft Home
- 1-Story Property
Bedrooms and Bathrooms
- 6 Bedrooms
- 5 Bathrooms
Utilities
- Wall Furnace
Listing and Financial Details
- Tenant pays for cable TV, electricity, gas
- Tax Lot 6
- Tax Tract Number 3163
- Assessor Parcel Number 39049115
- $982 per year additional tax assessments
Community Details
Overview
- 4 Units
Building Details
- Rent Control
- 4 Separate Electric Meters
- 4 Separate Gas Meters
- 1 Separate Water Meter
- Gardener Expense $900
- Insurance Expense $1,600
- Maintenance Expense $4,074
- Water Sewer Expense $4,400
- Operating Expense $24,977
- Gross Income $84,000
- Net Operating Income $56,503
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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 |
|---|---|---|---|---|
| 12/17/2021 12/17/21 | Sold | $1,350,000 | +13.0% | $383 / Sq Ft |
| 09/17/2021 09/17/21 | Pending | -- | -- | -- |
| 08/26/2021 08/26/21 | For Sale | $1,195,000 | -- | $339 / 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 | $15,725 | $1,379,570 | $1,251,296 | $128,274 |
| 2024 | $15,375 | $1,352,520 | $1,226,761 | $125,759 |
| 2023 | $15,033 | $1,326,000 | $1,202,706 | $123,294 |
| 2022 | $14,739 | $1,300,000 | $1,179,123 | $120,877 |
| 2021 | $2,310 | $125,850 | $40,755 | $85,095 |
| 2020 | $2,287 | $124,560 | $40,337 | $84,223 |
| 2019 | $2,270 | $122,118 | $39,546 | $82,572 |
| 2018 | $2,238 | $119,724 | $38,771 | $80,953 |
| 2017 | $2,171 | $117,377 | $38,011 | $79,366 |
| 2016 | $2,136 | $115,076 | $37,266 | $77,810 |
| 2015 | $2,103 | $113,348 | $36,706 | $76,642 |
| 2014 | $2,059 | $111,128 | $35,987 | $75,141 |
Source: Public Records
Agents Affiliated with this Home
-
Michael Arp
-
Jay Skenderian
Buyer's Agent in 2021
Jay Skenderian
Morgan Skenderian
(949) 251-8800
2 in this area
18 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: PW21188445
APN: 390-491-15
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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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