NOT LISTED FOR SALE

472 S Pixley St Orange, CA 92868

5 Beds
5 Baths
3,100 Sq Ft
6,534 Sq Ft Lot

Last Sold October 02, 2023

Last sale price $2,150,000 $694 Per Sq Ft

49 Days on Market

Highlights

  • Wood Flooring
  • Home Security System
  • ENERGY STAR Qualified Appliances
  • Double Pane Windows
  • Laundry Room
  • Central Air

About This Home

As of October 2023

This Garden-style apartment complex features over $900,000 in recent ground-up restorations- new plumbing, HVAC, subfloors, insulation, electrical, roof, drywall, stucco, and concrete. Consisting of (2) large 2 Bedroom/2 Bath units and (3) Large 1 Bedroom/1 Bath units. Every tenant appreciates the immaculately upgraded interiors, designated patios, en-suite + designated laundry facility, and modern exterior upgrades. 472 S Pixley is strategically located close to three major hospitals - CHOC Childrens Hospital, St Joseph's Hospital, and UCI Medical Center. Additionally, the property is proximate to shopping and entertainment options at Old Towne Orange and Main Place Mall. Easy access to the I-22 freeway enables hassle-free commuting to core job markets via the I-5, I-55, and I-57 freeways, further enhancing its value proposition. This generational asset offers a rare opportunity to own in one of the most desired neighborhoods in Southern California. A future investor will enjoy long-term upside with this asset, due to a continued shortage of apartment housing and lack of affordability in single-family homes in Southern California.

Last Agent to Sell the Property

Aspen Labrador

Compass License #02146663 Listed on: 06/28/2023

Compass

Co-Listed By

Michael Bouras

Compass License #01986753

Last Buyer's Agent

Aspen Labrador

Compass License #02146663 Listed on: 06/28/2023

Compass

Property Details

Home Type

  • Apartment

Year Built

  • Built in 1961

Lot Details

  • 6,534 Sq Ft Lot
  • No Common Walls
  • Density is 2-5 Units/Acre

Parking

  • 4 Car Garage
  • Parking Available
  • Single Garage Door
  • Garage Door Opener

Home Design

  • Turnkey
  • Raised Foundation
  • Slab Foundation

Interior Spaces

  • 3,100 Sq Ft Home
  • 2-Story Property
  • Double Pane Windows
  • ENERGY STAR Qualified Windows
  • Wood Flooring
  • Home Security System
  • Laundry Room

Kitchen

  • Built-In Range
  • Dishwasher

Bedrooms and Bathrooms

  • 5 Bedrooms
  • 5 Bathrooms

Eco-Friendly Details

  • ENERGY STAR Qualified Appliances
  • Energy-Efficient HVAC
  • ENERGY STAR Qualified Equipment for Heating

Location

  • Suburban Location

Utilities

  • Central Air
  • High Efficiency Heating System
  • ENERGY STAR Qualified Water Heater

Listing and Financial Details

  • Tenant pays for all utilities
  • Legal Lot and Block 8 / B
  • Tax Tract Number 545
  • Assessor Parcel Number 04114115
  • $1,006 per year additional tax assessments

Community Details

Overview

  • 4 Units

Recreation

  • Bike Trail

Building Details

  • 5 Leased Units
  • 4 Separate Electric Meters
  • 4 Separate Gas Meters
  • 4 Separate Water Meters
  • Electric Expense $1,200
  • Insurance Expense $1,970
  • Maintenance Expense $2,250
  • Other Expense $1,200
  • Pest Control $600
  • Trash Expense $1,663
  • Water Sewer Expense $1,663
  • New Taxes Expense $27,547
  • Operating Expense $38,518
  • Gross Income $166,260
  • Net Operating Income $122,927

Property Details

Home Type

Apartment

Year Built

Built in 1961

Lot Details

0

Parking

4

Listing Details

  • CapRate: 5.02
  • Price Per Unit: 612500
  • Property Attached: No
  • Security: Security System
  • Water Sewer Expenses: 1663.00
  • Property Condition: Turnkey
  • Property Sub Type: Apartment
  • Property Type: Residential Income
  • Parcel Number: 04114115
  • Year Built: 1961
  • Special Features: None

Interior Features

  • Stories: 2
  • Entry Location: Drive way
  • Common Walls: No Common Walls
  • Flooring: Wood
  • Appliances: Yes
  • Entry Level: 1
  • Price Per Square Foot: 693.55
  • Window Features: Double Pane Windows, ENERGY STAR Qualified Windows

Exterior Features

  • Foundation: Raised, Slab
  • Pool Private: No

Garage/Parking

  • Garage Spaces: 4.00
  • Parking: Yes
  • Parking Features: Garage - Single Door, Garage Door Opener
  • Total Parking Spaces: 4.00

Utilities

  • Heating: Yes
  • Laundry: Yes
  • Appliances: Built-In Range, Dishwasher, ENERGY STAR Qualified Appliances, ENERGY STAR Qualified Water Heater, High Efficiency Water Heater
  • Heating Type: ENERGY STAR Qualified Equipment, High Efficiency
  • Laundry Features: Individual Room, Inside
  • Pest Control Expense: 600.00
  • Sewer: Public Sewer
  • Trash Expense: 1663.00
  • Water Source: Public
  • Cooling: Central Air, Energy Star Qualified Equipment
  • Cooling: Yes

Condo/Co-op/Association

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

Green Features

  • Efficiency: Appliances, HVAC, Water Heater

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 2-5 Units/Acre
  • Lot Size Sq Ft: 6534.00
  • Lot Size Acres: 0.1500

Rental Info

  • Garage Rental Rate: 75.00
  • Tenant Pays: All Utilities

Multi Family

  • Average1 Bed Area: 500 Square Feet
  • Average2 Bed Area: 800 Square Feet
  • Electric Expense: 1200.00
  • Garage Income: 300.00
  • Gross Income: 166260.00
  • Gross Multiplier: 14.93
  • Gross Operating Income: 155685.00
  • Gross Scheduled Income: 166260.00
  • Insurance Expense: 1970.00
  • Laundry Equipment Own Lease: Own
  • Lot Size Area: 6534.0000 Square Feet
  • Maintenance Expense: 2250.00
  • Net Operating Income: 122927.00
  • Number Of Rented Garages: 4
  • Number Of Separate Electric Meters: 4
  • Number Of Separate Gas Meters: 4
  • Number Of Separate Water Meters: 4
  • Number Of Units Leased: 5
  • Number Of Units Total: 4
  • Operating Expense: 38518.00
  • Other Expense: 1200.00
  • Other Expense Description: Turnover
  • Other Income1: 180.00
  • Other Income Description: RUBS
  • Rent Control: No
  • Total Actual Rent: 13375.00
  • Total Expenses: 38518.00
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 27547.00
  • Tax Block: B
  • Tax Census Tract: 760.01
  • Tax Lot: 8
  • Tax Tract Number: 545
  • TaxOtherAnnualAssessmentAmount: 1006.00

Range of Values:

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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 Change Sq Ft Price
10/02/2023 10/02/23 Sold $2,150,000 -12.2% $694 / Sq Ft
08/16/2023 08/16/23 Pending -- -- --
06/28/2023 06/28/23 For Sale $2,450,000 +117.8% $790 / Sq Ft
09/19/2018 09/19/18 Sold $1,125,000 -2.1% $397 / Sq Ft
05/31/2018 05/31/18 For Sale $1,149,000 0.0% $406 / Sq Ft
01/16/2018 01/16/18 Rented $1,195 0.0% --
01/10/2018 01/10/18 Price Changed $1,195 -14.3% $3 / Sq Ft
12/11/2017 12/11/17 For Rent $1,395 -41.8% --
01/18/2014 01/18/14 Rented $2,395 -99.7% --
01/17/2014 01/17/14 Under Contract -- -- --
10/11/2013 10/11/13 Sold $839,000 0.0% $202 / Sq Ft
07/25/2013 07/25/13 For Rent $2,695 0.0% --
07/12/2013 07/12/13 Pending -- -- --
06/01/2013 06/01/13 For Sale $849,900 -- $205 / Sq Ft
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: NP23115627

California Regional Multiple Listing Service (CRMLS)

APN: 041-141-15