NOT LISTED FOR SALE

516 S Lemon St Fullerton, CA 92832

Estimated Value: $849,000 - $1,177,000

6 Beds
3 Baths
2,654 Sq Ft
$358/Sq Ft Est. Value

Last Sold September 30, 2016

Last sale price $725,000 $273 Per Sq Ft

Est. 31% increase in value since last sale

Current estimated payment $5,780/month

60 Days on Market

About This Home

As of September 2016

Available soon! This stunning multi-family property sits on an expansive 6,534 square foot lot. The existing single family home is in the process of receiving a magnificent remodel & additional bedroom. The front unit will cater to a new open floor plan & will virtually be a new home - new plumbing, flooring, roof, electrical, kitchen, bathrooms etc. A ground up build at the rear is also in the plans which will include a new 4-car garage and a brand new second unit built over the top of the garage. The front unit shows 1,144 square feet and back 1,510 square feet. Each unit will have its own separate gas & electric meters and all new appliances. Because it's just minutes from Chapman University, local schools and fabulous shopping and dining options, its location is ideal for almost everyone. Situated in a delightful, family-oriented neighborhood with newly repaved streets, this property is sure to attract stable renters. The neighborhood is also peppered with newly rebuilt homes, giving it a fresh and contemporary feel. Take advantage of this handsome investment property today.

Last Agent to Sell the Property

Drew Dunn

Four Brothers Real Estate, Inc. License #01941825 Listed on: 04/30/2016

Last Buyer's Agent

Ed Diaz

Vanguard Property Group License #01022469

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $9,490

Year Built

  • Built in 1950

Lot Details

  • 6,534 Sq Ft Lot
  • No Common Walls
  • Density is up to 1 Unit/Acre

Parking

  • 4 Car Garage

Home Design

  • Entry on the 1st floor

Interior Spaces

  • 2,654 Sq Ft Home
  • 2-Story Property

Bedrooms and Bathrooms

  • 6 Bedrooms
  • 3 Bathrooms

Listing and Financial Details

  • Tax Lot 11
  • Tax Tract Number 1358
  • Assessor Parcel Number 03330223

Community Details

Overview

  • No Home Owners Association
  • 2 Buildings
  • 2 Units

Building Details

  • 2 Separate Electric Meters
  • 2 Separate Gas Meters
  • 1 Separate Water Meter
  • Gross Income $4,400
  • Net Operating Income $47,855

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$9,490

Year Built

Built in 1950

Lot Details

0

Parking

4

Listing Details

  • CapRate: 6.50
  • Price Per Unit: 364944
  • Property Attached: No
  • Property Type: Residential Income
  • Parcel Number: 03330223
  • Year Built: 1950
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Stories: 2
  • Common Walls: No Common Walls
  • Entry Level: 1
  • Levels: Two
  • Price Per Square Foot: 273.17

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 4.00
  • Total Parking Spaces: 4.00

Utilities

  • Utilities: Sewer Available
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Community Features: Sidewalks

Lot Info

  • Additional Parcels: No
  • Lot Features: 0-1 Unit/Acre
  • Lot Size Sq Ft: 6534.00
  • Price Per Lot Square Foot: 111.71
  • Lot Size Acres: 0.1500

Multi Family

  • Gross Income: 4400.00
  • Gross Scheduled Income: 56300.00
  • Lot Size Area: 6534.0000 Square Feet
  • Net Operating Income: 47855.00
  • Number Of Separate Electric Meters: 2
  • Number Of Separate Gas Meters: 2
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 2
  • Number With Dishwasher: 2
  • Number With Disposal: 2
  • Number With Range: 2
  • Number With Refrigerator: 2
  • Operating Expense Percent: 15.00
  • Rent Control: No

Tax Info

  • Tax Lot: 11
  • Tax Tract Number: 1358

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Mar 31, 2017
Sold by
Liu Robert and Chen Wendy
Bought by
Liu Robert and Chen Wendy
Current Estimated Value
$951,229

Purchase Details

Closed on
Dec 1, 2016
Sold by
243 Newport Llc
Bought by
Liu Robert and Chen Wendy

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$543,000
Interest Rate
4.16%
Mortgage Type
New Conventional

Purchase Details

Listed on
Jul 13, 2015
Closed on
Aug 20, 2015
Sold by
Glade Eiko Colleen
Bought by
243 Newport Llc
Seller's Agent
Connie Gohata
Circle Real Estate
Buyer's Agent
Connie Gohata
Circle Real Estate
List Price
$375,000
Sold Price
$354,000
Premium/Discount to List
-$21,000
-5.6%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
10.28%
Original Mortgage
$340,000
Interest Rate
3.86%
Mortgage Type
New Conventional
Source: Public Records

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Liu Robert -- Accommodation
Liu Robert $737,500 Title365
243 Newport Llc $354,000 Title 365
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Liu Robert $543,000
Previous Owner 243 Newport Llc $340,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
09/30/2016 09/30/16 Sold $725,000 -0.7% $273 / Sq Ft
03/04/2016 03/04/16 For Sale $729,888 +106.2% $275 / Sq Ft
09/21/2015 09/21/15 Sold $354,000 -5.6% $375 / Sq Ft View Prior Sale
08/17/2015 08/17/15 Pending -- -- --
07/13/2015 07/13/15 For Sale $375,000 -- $398 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

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 $9,490 $855,812 $614,737 $241,075
2024 $9,490 $839,032 $602,683 $236,349
2023 $9,262 $822,581 $590,866 $231,715
2022 $9,201 $806,452 $579,280 $227,172
2021 $9,043 $790,640 $567,922 $222,718
2020 $8,993 $782,533 $562,098 $220,435
2019 $8,759 $767,190 $551,077 $216,113
2018 $8,628 $752,148 $540,272 $211,876
2017 $5,728 $526,100 $325,655 $200,445
2016 $4,181 $354,000 $319,270 $34,730
2015 $657 $36,609 $17,332 $19,277
2014 $639 $35,892 $16,992 $18,900
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: OC16045901

California Regional Multiple Listing Service (CRMLS)

APN: 033-302-23