NOT LISTED FOR SALE
7 Beds
6 Baths
3,191 Sq Ft
8,280 Sq Ft Lot

Sale Details

Date Sold: May 16, 2022

Last sale price $1,430,000 $448 Per Sq Ft

3 Days on Market

Highlights

  • Park
  • Bike Trail
  • Paved or Partially Paved Lot
  • D. Russell Parks Junior High School Rated A-
  • Laundry Facilities

About This Home

As of May 2022

Built-in 1989, the subject property is 3,191 square feet sitting on an 8,280 square foot lot. The four-unit apartment building consists of one (two-bedroom, two-bathroom) unit and one (one-bedroom one-bathroom) unit on the first story. The second story consists of one (two-bedroom, two-bathroom) and one (two-bedroom, one-bathroom) unit. Recent upgrades and capital improvements include a newer roof, updated windows, and recent exterior paint. The subject property also boasts new artificial synthetic grass, security cameras/lights, and a gated perimeter with garage parking. There is a significant upside in rents within the strong West Fullerton rental market. Utility systems include copper plumbing with individual utility meters, individual water heaters, and an onsite laundry facility.

Last Agent to Sell the Property

Ari Gharib

LFA Multifamily Inc. License #01981194 Listed on: 04/19/2022

Last Buyer's Agent

Rosie Zuno

Compass License #01973081

Compass
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Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1989

Lot Details

  • 8,280 Sq Ft Lot
  • No Common Walls
  • Paved or Partially Paved Lot

Parking

  • 6 Car Garage

Interior Spaces

  • 3,191 Sq Ft Home
  • 2-Story Property

Bedrooms and Bathrooms

  • 7 Bedrooms
  • 6 Bathrooms

Listing and Financial Details

  • Tax Lot 13
  • Tax Tract Number 1227
  • Assessor Parcel Number 03005119
  • $750 per year additional tax assessments

Community Details

Overview

  • 4 Units
  • Fullerton Heights Subdivision

Amenities

  • Laundry Facilities

Recreation

  • Park
  • Bike Trail

Building Details

  • 4 Leased Units
  • 4 Separate Electric Meters
  • 4 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $1,500
  • Fuel Expense $1,200
  • Gardener Expense $1,200
  • Insurance Expense $1,436
  • Trash Expense $516
  • Water Sewer Expense $3,000
  • New Taxes Expense $15,174
  • Operating Expense $27,883
  • Gross Income $71,700
  • Net Operating Income $44,974

Property Details

Home Type

Multi-Family

Year Built

Built in 1989

Lot Details

8,280 Sq Ft Lot

Parking

6

Listing Details

  • CapRate: 3.21
  • Property Attached: No
  • Subdivision Name Other: Fullerton Heights (FULH)
  • Water Sewer Expenses: 3000.00
  • Property Type: Residential Income
  • Gardener Expense: 1200.00
  • Parcel Number: 03005119
  • Year Built: 1989
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Stories: 2
  • Common Walls: No Common Walls
  • Levels: Two
  • Price Per Square Foot: 448.14

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 6.00
  • Total Parking Spaces: 6.00

Utilities

  • Laundry: Yes
  • Laundry Features: Common Area
  • Sewer: Public Sewer
  • Trash Expense: 516.00
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Biking, Park, Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Paved
  • Lot Size Sq Ft: 8280.00
  • Lot Size Acres: 0.1901

Multi Family

  • Electric Expense: 1500.00
  • Fuel Expense: 1200.00
  • Gross Income: 71700.00
  • Gross Multiplier: 18.67
  • Gross Operating Income: 72750.00
  • Gross Scheduled Income: 75000.00
  • Insurance Expense: 1436.00
  • Laundry Income: 2400.00
  • Lot Size Area: 8280.0000 Square Feet
  • Net Operating Income: 44974.00
  • 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
  • Operating Expense: 27775.00
  • Other Income1: 75.00
  • Other Income Description: Parking
  • Rent Control: No
  • Total Actual Rent: 71700.00
  • Total Expenses: 27883.00
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 15174.00
  • Tax Census Tract: 18.01
  • Tax Lot: 13
  • Tax Tract Number: 1227
  • TaxOtherAnnualAssessmentAmount: 750.00

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

Listed on
Apr 19, 2022
Closed on
Apr 29, 2022
Sold by
Stame Revocable Living Trust
Bought by
Seller's Agent
Ari Gharib
LFA Multifamily Inc.
Buyer's Agent
Rosie Zuno
Compass
List Price
$1,400,000
Sold Price
$1,430,000
Premium/Discount to List
$30,000
2.14%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,072,500
Outstanding Balance
$997,084
Interest Rate
4.67%
Mortgage Type
Balloon

Purchase Details

Closed on
Jul 30, 2019
Sold by
Stame Ivan T and Stame Maria S
Bought by
Stame Ivan T and Stame Maria S

Purchase Details

Closed on
Oct 5, 2004
Sold by
Montiel Axel
Bought by
Stame Ivan T and Stame Maria S

Purchase Details

Closed on
Sep 29, 2004
Sold by
Montiel Evelyn
Bought by
Montiel Axel

Purchase Details

Closed on
Jul 15, 2004
Sold by
Lafarga Otoniel and Lafarga Karla W
Bought by
Montiel Axel

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$535,000
Interest Rate
7%
Mortgage Type
Commercial

Purchase Details

Closed on
Oct 7, 1997
Sold by
Aurel Ciot and Ciot Mary D
Bought by
Lafarga Otoniel and Lafarga Karla W
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
$1,430,000 First American Title
Stame Ivan T -- None Available
Stame Ivan T $30,000 --
Montiel Axel -- Lawyers Title
Montiel Axel $595,000 Lawyers Title
Lafarga Otoniel $248,000 Lawyers Title Company
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
Open $1,072,500
Previous Owner Stame Ivan T $626,400
Previous Owner Stame Ivan T $560,000
Previous Owner Montiel Axel $535,000
Previous Owner Lafarga Otoniel $328,500
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
05/16/2022 05/16/22 Sold $1,430,000 +2.1% $448 / Sq Ft
04/19/2022 04/19/22 For Sale $1,400,000 -- $439 / 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
2026 $17,361 $1,547,877 $1,278,556 $269,321
2025 $16,678 $1,517,527 $1,253,486 $264,041
2024 $16,678 $1,487,772 $1,228,908 $258,864
2023 $16,279 $1,458,600 $1,204,811 $253,789
2022 $9,185 $781,538 $495,614 $285,924
2021 $9,028 $766,214 $485,896 $280,318
2020 $8,977 $758,358 $480,914 $277,444
2019 $8,750 $743,489 $471,485 $272,004
2018 $8,620 $728,911 $462,240 $266,671
2017 $8,478 $714,619 $453,176 $261,443
2016 $8,304 $700,607 $444,290 $256,317
2015 $8,076 $690,084 $437,617 $252,467
2014 $7,845 $676,567 $429,045 $247,522
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: OC22079840

California Regional Multiple Listing Service (CRMLS)

APN: 030-051-19

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