NOT LISTED FOR SALE

338 W Palmyra Ave Orange, CA 92866

9 Beds
7 Baths
4,805 Sq Ft
9,448 Sq Ft Lot

Last Sold September 04, 2015

Last sale price $1,350,000 $281 Per Sq Ft

6 Days on Market

Highlights

  • All Bedrooms Downstairs
  • Spanish Architecture
  • Private Yard
  • Property is near public transit
  • Granite Countertops
  • No HOA

About This Home

As of September 2015

Super Pride of Ownership 4-Plex in Old Towne Orange! $101,340 GROSS ANNUAL INCOME! LARGE, HIGHLY UPGRADED UNITS!
Unit A: 3BR, 2BA, Big Living Room w/Fireplace, Dining & Family Room, Granite & Maple Cabs in the Kitchen, Att. 2 Car Garage, enclosed Front Yard.
Unit B: 3BR, 2BA, Living Room, Dining Area off Kitchen which has Granite Counters, Private Back Yard, 1 Garage Space & 2 Assigned Parking Spaces.
Unit C: 2BR, 2BA, Living Room, Dining Nook, Large Deck, Granite & Maple Cabs in the Kitchen & Baths, 1 Garage Space & 1 Assigned Parking Space.
Unit D: 1BR, 1BA, Living Room, Dining Nook, Front Deck Area, Granite & Maple Cabs in Kitchen & Bath, 1 Assigned Parking Space.
NEW DUAL PANE WINDOWS THROUGHOUT! All Units have CENTRAL AIR CONDITIONING & HEATING, DISHWASHERS, GARBAGE DISPOSALS & GAS RANGES. Additional Income from the COMMUNITY LAUNDRY with Coin Operated WASHER & DRYER (OWNED, NOT LEASED). Parking for 8 Cars. Proximity to CHOC Childrens Hospital & St Joseph Hospital, Chapman University, the Orange Metro Station and the Westfield MainPlace Mall. Easy to rent units with excellent income! Fantastic opportunity for the Investor or Owner Occupant!

Last Agent to Sell the Property

William & Kathleen Kiang

Regency Real Estate Brokers License #00555961 Listed on: 07/22/2015

Regency Real Estate Brokers

Last Buyer's Agent

Marlynn Howe

Entourage Real Estate Professionals Inc License #00768531

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1970 | Remodeled

Lot Details

  • 9,448 Sq Ft Lot
  • Two or More Common Walls
  • Wrought Iron Fence
  • Stucco Fence
  • Landscaped
  • Rectangular Lot
  • Paved or Partially Paved Lot
  • Level Lot
  • Private Yard
  • Lawn
  • Front Yard
  • Density is 2-5 Units/Acre

Parking

  • 4 Car Direct Access Garage
  • Parking Available
  • Front Facing Garage
  • Single Garage Door
  • Garage Door Opener
  • Shared Driveway
  • Assigned Parking

Home Design

  • Spanish Architecture
  • Property Attached
  • Turnkey
  • Slab Foundation
  • Fire Rated Drywall
  • Tar and Gravel Roof
  • Composition Roof
  • Wood Siding
  • Pre-Cast Concrete Construction
  • Copper Plumbing
  • Stucco

Interior Spaces

  • 4,805 Sq Ft Home
  • 2-Story Property
  • Built-In Features
  • Ceiling Fan
  • Double Pane Windows
  • Insulated Windows
  • Drapes & Rods
  • Blinds
  • Window Screens
  • Sliding Doors
  • Living Room with Fireplace

Kitchen

  • Electric Oven
  • Built-In Range
  • Microwave
  • Dishwasher
  • Granite Countertops
  • Disposal

Flooring

  • Carpet
  • Tile
  • Vinyl

Bedrooms and Bathrooms

  • 9 Bedrooms
  • All Bedrooms Down
  • 7 Bathrooms

Laundry

  • Laundry Room
  • Dryer
  • Washer
  • 220 Volts In Laundry

Home Security

  • Carbon Monoxide Detectors
  • Fire and Smoke Detector

Outdoor Features

  • Exterior Lighting
  • Rain Gutters

Location

  • Property is near public transit
  • Suburban Location

Utilities

  • Forced Air Heating and Cooling System

Listing and Financial Details

  • Tenant pays for cable TV, electricity, gas
  • Tax Lot 4
  • Tax Tract Number 6841
  • Assessor Parcel Number 39064104

Community Details

Overview

  • No Home Owners Association
  • 4 Units

Amenities

  • Laundry Facilities

Building Details

  • 4 Leased Units
  • 4 Separate Electric Meters
  • 4 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $683
  • Gardener Expense $1,775
  • Insurance Expense $3,344
  • Maintenance Expense $7,322
  • Other Expense $3,816
  • Professional Management Expense $6,010
  • Trash Expense $598
  • Water Sewer Expense $1,116
  • New Taxes Expense $12,665
  • Gross Income $8,395
  • Net Operating Income $66,053

Property Details

Home Type

Multi-Family

Year Built

Built in 1970 | Remodeled

Lot Details

0

Parking

4

Listing Details

  • Assessments: Yes
  • CapRate: 4.80
  • Inclusions: Coin-operated Washer and Dryer
  • Professional Management Expense: 6010.00
  • Property Attached: Yes
  • Road Frontage Type: City Street
  • Security: Carbon Monoxide Detector(s), Smoke Detector(s)
  • View: No
  • Water Sewer Expenses: 1116.00
  • Architectural Style: Spanish
  • Property Condition: Updated/Remodeled, Turnkey
  • Property Type: Residential Income
  • Gardener Expense: 1775.00
  • Parcel Number: 39064104
  • Year Built: 1970
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: Yes
  • Interior Amenities: Built-in Features, Ceiling Fan(s), Copper Plumbing Full, Granite Counters
  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Flooring: Carpet, Tile, Vinyl
  • Appliances: Yes
  • Door Features: Sliding Doors
  • Fireplace Features: Living Room
  • Levels: Two
  • Price Per Square Foot: 280.96
  • Room Type: All Bedrooms Down
  • Window Features: Blinds, Drapes, Double Pane Windows, Insulated Windows, Screens

Exterior Features

  • Foundation: Slab
  • Fencing: Stucco Wall, Wrought Iron
  • Pool Private: No
  • Roof: Composition, Tar/Gravel
  • Spa: No
  • Construction Materials: Concrete, Drywall Walls, Stucco, Wood Siding

Garage/Parking

  • Garage Spaces: 4.00
  • Parking: Yes
  • Parking Features: Assigned, Asphalt, Garage Faces Front, Direct Garage Access, Garage, Garage Door Opener, Garage - Single Door, Shared Driveway
  • Total Parking Spaces: 8.00

Utilities

  • Utilities: Electricity Available, Sewer Connected, Water Connected
  • Heating: Yes
  • Laundry: Yes
  • Appliances: Built-In Range, Dishwasher, Electric Oven, Disposal, Gas Range, Microwave
  • Electric: 220 Volts in Laundry
  • Heating Type: Forced Air
  • Laundry Features: Community, Dryer Included, Gas & Electric Dryer Hookup, Individual Room, Washer Hookup, Washer Included
  • Trash Expense: 598.00
  • Water Source: Public
  • Cooling: Central Air
  • Cooling: Yes

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Curbs, Gutters, Sidewalks, Street Lights, Suburban

Lot Info

  • Lot Features: 2-5 Units/Acre, Front Yard, Level, Lawn, Landscaped, Rectangular Lot, Lot 6500-9999, Level with Street, Paved, Near Public Transit, Yard
  • Lot Size Sq Ft: 9448.00
  • Price Per Lot Square Foot: 142.89
  • Lot Size Acres: 0.2170

Rental Info

  • Tenant Pays: Cable TV, Electricity, Gas

Multi Family

  • Electric Expense: 683.00
  • Gross Income: 8395.00
  • Gross Multiplier: 13.32
  • Gross Scheduled Income: 101340.00
  • Gross Spendable Income: 66053.00
  • Insurance Expense: 3344.00
  • Laundry Equipment Own Lease: Own
  • Lot Size Area: 9448.0000 Square Feet
  • Maintenance Expense: 7322.00
  • Net Operating Income: 66053.00
  • Number Of Separate Electric Meters: 4
  • Number Of Separate Gas Meters: 4
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 4
  • Number Of Units Total: 4
  • Number With Carpet: 4
  • Number With Dishwasher: 4
  • Number With Disposal: 4
  • Number With Drapes: 4
  • Number With Patio: 4
  • Number With Range: 4
  • Number With Refrigerator: 1
  • Operating Expense: 38287.00
  • Other Expense: 3816.00
  • Other Expense Description: Comm's
  • Rent Control: No
  • Total Actual Rent: 98340.00
  • Vacancy Allowance Rate: 1.00

Tax Info

  • New Taxes Expense: 12665.00
  • Tax Lot: 4
  • Tax Tract Number: 6841

Range of Values:

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Value Increase
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Percent Increase
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Adjusted for Inflation
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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
09/04/2015 09/04/15 Sold $1,350,000 0.0% $281 / Sq Ft
07/28/2015 07/28/15 Pending -- -- --
07/22/2015 07/22/15 For Sale $1,350,000 0.0% $281 / Sq Ft
07/15/2015 07/15/15 Rented $2,700 -10.0% --
06/15/2015 06/15/15 Under Contract -- -- --
06/14/2015 06/14/15 For Rent $3,000 +25.0% --
05/07/2014 05/07/14 Rented $2,400 0.0% --
05/07/2014 05/07/14 For Rent $2,400 -- --
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: OC15161904

California Regional Multiple Listing Service (CRMLS)

APN: 390-641-04