NOT LISTED FOR SALE
6 Beds
5 Baths
4,109 Sq Ft
7,405 Sq Ft Lot

Sale Details

Date Sold: September 26, 2023

Last sale price $1,797,000 $437 Per Sq Ft

4 Days on Market

Highlights

  • Primary Bedroom Suite
  • Lawn
  • Cul-De-Sac
  • Main Floor Primary Bedroom
  • No HOA
  • Central Heating

About This Home

As of September 2023

Extremely sought after Covington style 4-unit apartment building with a desirable mix comprised of (1) One-Bedroom/One-Bathroom, (2) Two- Bedroom/Two-Bathroom, and (1) Three- Bedroom/Two-Bathroom totaling approx. 4109 living sq ft. This is an excellent asset-add opportunity for any Investor. Current ownership has professionally maintained the asset. The property possesses many advantageous features such as the 3-bedroom single story unit offers a private enclosed patio. One lower 2-bedroom 2 bath boasts a large fenced in yard perfect for kids or herb garden. The upper 2 bedroom is a mirrored image of lower 2 bedroom with a quaint balcony. Upper 1 bedroom unit extends over the 4 attached single car garages and is generous in size and loads of storage and has a great room feel. Units also offer 2 additional parking spaces and coin operated laundry that generates additional income. Each unit has its own gas meter. This fully rented fourplex is situated in a cul-de -sac location on a highly sought after tree-lined street. The building offers a low maintenance yard, long-term tenants and is situated within minutes of South Coast Plaza, freeway access, shopping, entertainment, John Wayne airport and close to Segerstrom center. With the continued addition and demand for new development, this should continue to drive both population growth and increased household income, which ultimately provides much confidence for continued rent escalation.

Last Agent to Sell the Property

Dani Walker

First Team Real Estate License #01309428 Listed on: 08/14/2023

First Team Real Estate

Co-Listed By

Rosemarie Sire

First Team Real Estate License #00779859

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Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1969

Lot Details

  • 7,405 Sq Ft Lot
  • Two or More Common Walls
  • Cul-De-Sac
  • South Facing Home
  • Vinyl Fence
  • Fence is in average condition
  • Lawn

Parking

  • 4 Car Garage
  • 4 Open Parking Spaces
  • Parking Available
  • Garage Door Opener
  • Assigned Parking

Home Design

  • Quadruplex
  • Entry on the 1st floor
  • Cosmetic Repairs Needed
  • Composition Roof

Interior Spaces

  • 4,109 Sq Ft Home
  • 2-Story Property
  • Ceiling Fan
  • Fireplace With Gas Starter
  • Window Screens
  • Entryway
  • Living Room with Fireplace
  • Fire and Smoke Detector
  • Leased Washer and Dryer

Kitchen

  • Free-Standing Range
  • Range Hood
  • Dishwasher
  • Disposal

Flooring

  • Carpet
  • Laminate

Bedrooms and Bathrooms

  • 6 Bedrooms
  • Primary Bedroom on Main
  • Primary Bedroom Suite
  • 5 Bathrooms

Outdoor Features

  • Exterior Lighting

Utilities

  • Central Heating
  • Natural Gas Connected
  • Water Heater

Listing and Financial Details

  • Tenant pays for gas
  • Tax Lot 16
  • Tax Tract Number 6743
  • Assessor Parcel Number 41010204
  • $1,003 per year additional tax assessments

Community Details

Overview

  • No Home Owners Association
  • 2 Buildings
  • 4 Units

Amenities

  • Laundry Facilities

Building Details

  • 4 Leased Units
  • 1 Separate Electric Meter
  • 4 Separate Gas Meters
  • 1 Separate Water Meter
  • Gardener Expense $1,200
  • Insurance Expense $2,352
  • Maintenance Expense $5,853
  • Trash Expense $1,655
  • Water Sewer Expense $1,749
  • Operating Expense $12,809
  • Gross Income $240
  • Net Operating Income $61,531

Property Details

Home Type

Multi-Family

Year Built

Built in 1969

Lot Details

7,405 Sq Ft Lot

Parking

4

Listing Details

  • Assessments: No
  • Property Attached: Yes
  • Security: Smoke Detector(s)
  • Subdivision Name Other: Covington
  • View: No
  • Water Sewer Expenses: 1749.00
  • Property Condition: Repairs Cosmetic
  • Property Sub Type: Quadruplex
  • Property Type: Residential Income
  • Gardener Expense: 1200.00
  • Parcel Number: 41010204
  • Year Built: 1969
  • Special Features: None

Interior Features

  • Fireplace: Yes
  • Interior Amenities: Ceiling Fan(s)
  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Flooring: Carpet, Laminate
  • Appliances: Yes
  • Entry Level: 1
  • Fireplace Features: Living Room, Gas Starter
  • Levels: Two
  • Price Per Square Foot: 437.33
  • Room Type: Entry, Kitchen, Living Room, Main Floor Bedroom, Main Floor Master Bedroom, Master Bathroom, Master Bedroom, Master Suite
  • Window Features: Screens

Exterior Features

  • Direction Faces: South
  • Fence: Yes
  • Fencing: Average Condition, Vinyl
  • Pool Private: No
  • Roof: Composition
  • Spa: No

Garage/Parking

  • Garage Spaces: 4.00
  • Parking: Yes
  • Parking Features: Assigned, Garage, Garage Door Opener
  • Total Parking Spaces: 6.00
  • Uncovered Spaces: 4.00

Utilities

  • Utilities: Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
  • Heating: Yes
  • Laundry: Yes
  • Appliances: Dishwasher, Free-Standing Range, Disposal, Range Hood, Water Heater
  • Electric: Standard
  • Heating Type: Central
  • Laundry Features: Common Area, Community
  • Sewer: Public Sewer
  • Trash Expense: 1655.00
  • Water Source: Public

Condo/Co-op/Association

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

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Cul-De-Sac, Lawn
  • Lot Size Sq Ft: 7405.00
  • Lot Size Acres: 0.1700

Rental Info

  • Tenant Pays: Gas

Multi Family

  • Gross Income: 240.00
  • Gross Operating Income: 240.00
  • Gross Scheduled Income: 74100.00
  • Insurance Expense: 2352.00
  • Laundry Equipment Own Lease: Lease
  • Laundry Income: 240.00
  • Lease Term: 12 Months
  • Lot Size Area: 7405.0000 Square Feet
  • Maintenance Expense: 5853.00
  • Net Operating Income: 61531.00
  • Number Of Rented Garages: 4
  • Number Of Separate Electric Meters: 1
  • 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 Patio: 2
  • Number With Range: 4
  • Number With Refrigerator: 2
  • Operating Expense: 12809.00
  • Rent Control: No
  • Total Actual Rent: 6177.00
  • Total Expenses: 12809.00

Tax Info

  • Tax Census Tract: 740.04
  • Tax Lot: 16
  • Tax Tract Number: 6743
  • TaxOtherAnnualAssessmentAmount: 1003.00

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
Aug 14, 2023
Closed on
Sep 8, 2023
Sold by
Bought by
Seller's Agent
Dani Walker
First Team Real Estate
List Price
$1,700,000
Sold Price
$1,797,000
Premium/Discount to List
$97,000
5.71%
Views
33

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,762,087
Interest Rate
6.96%
Mortgage Type
Construction

Purchase Details

Closed on
Feb 24, 2012
Sold by
Bought by

Purchase Details

Closed on
Sep 13, 2004
Sold by
Bought by

Purchase Details

Closed on
May 18, 1999
Sold by
Bought by

Purchase Details

Closed on
Dec 22, 1998
Sold by
Bought by
Source: Public Records

Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

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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
$1,797,000 Ticor Title
-- None Available
-- --
$200,000 --
-- --
-- --
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 $1,773,951
Closed $1,762,087
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
09/26/2023 09/26/23 Sold $1,797,000 +5.7% $437 / Sq Ft
08/19/2023 08/19/23 Pending -- -- --
08/14/2023 08/14/23 For Sale $1,700,000 -- $414 / 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 $21,629 $1,869,598 $1,653,294 $216,304
2025 $21,070 $1,832,940 $1,620,877 $212,063
2024 $21,070 $1,797,000 $1,589,095 $207,905
2023 $3,755 $245,515 $37,610 $207,905
2022 $3,700 $240,701 $36,872 $203,829
2021 $3,622 $235,982 $36,149 $199,833
2020 $3,619 $233,563 $35,779 $197,784
2019 $3,563 $228,984 $35,078 $193,906
2018 $3,448 $224,495 $34,391 $190,104
2017 $3,415 $220,094 $33,717 $186,377
2016 $3,354 $215,779 $33,056 $182,723
2015 $3,309 $212,538 $32,559 $179,979
2014 $3,250 $208,375 $31,921 $176,454
Source: Public Records

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: OC23135707

California Regional Multiple Listing Service (CRMLS)

APN: 410-102-04

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