5582 Newman St Cypress, CA 90630
6
Beds
3
Baths
4,887
Sq Ft
0.41
Acres
Highlights
- 0.41 Acre Lot
- Property is near public transit
- Landscaped
- Juliet Morris Elementary School Rated A
- Laundry Room
- Front Yard
About This Home
As of October 2020The Newman Street Apartments is a five-unit apartment building located in the desirable City of Cypress, CA within the greater Orange County area. The subject property is located on a quiet residential street of predominantly single-family homes and is walking distance to Cypress College, a well-known community college.
Built in 1971, the property offers an attractive unit mix of single story cottages consisting of (1) three-bedroom/ one-bathroom unit, (3) two-bedroom/ one-bathroom units, and (1) one-bedroom/ one-bathroom unit totaling 4,887 square feet, situated over a large 17,815 square foot lot. The subject property has recently gone through an extensive remodel of the interiors and exterior. Some interior upgrades include but are not limited to new kitchens, new appliances, new flooring, new windows, new bathrooms, and new garage doors. Tenant amenities include large backyards, ample on-site parking including enclosed garages, and washer/dryer hookups inside units.
This offering represents a rare opportunity for an investor to achieve a 4.8% CAP Rate / 6.2% total return on a stable, renovated, and well-located investment property in the solid rental market of Cypress, California.
Last Agent to Sell the Property
Marcus & Millichap RE Invest License #01365951 Listed on: 06/16/2020
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1971
Lot Details
- 0.41 Acre Lot
- No Common Walls
- Landscaped
- Front Yard
Parking
- 3 Car Garage
Interior Spaces
- 4,887 Sq Ft Home
- 1-Story Property
Bedrooms and Bathrooms
- 6 Bedrooms
- 3 Bathrooms
Laundry
- Laundry Room
- Washer and Gas Dryer Hookup
Additional Features
- Exterior Lighting
- Property is near public transit
Listing and Financial Details
- Tax Lot 46
- Tax Tract Number 511
- Assessor Parcel Number 24451146
Community Details
Overview
- 3 Buildings
- 5 Units
Building Details
- Rent Control
- 5 Separate Electric Meters
- 5 Separate Gas Meters
- 1 Separate Water Meter
- Electric Expense $750
- Fuel Expense $750
- Insurance Expense $1,746
- Trash Expense $750
- Water Sewer Expense $750
- New Taxes Expense $22,063
- Operating Expense $32,009
- Net Operating Income $91,375
Similar Homes in Cypress, CA
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 10/24/2021 10/24/21 | Rented | $2,600 | 0.0% | -- |
| 08/08/2021 08/08/21 | For Rent | $2,600 | 0.0% | -- |
| 10/19/2020 10/19/20 | Sold | $1,885,000 | -0.8% | $386 / Sq Ft |
| 08/31/2020 08/31/20 | Pending | -- | -- | -- |
| 06/16/2020 06/16/20 | For Sale | $1,899,990 | +21.9% | $389 / Sq Ft |
| 10/22/2018 10/22/18 | Sold | $1,559,000 | -2.5% | $319 / Sq Ft |
| 08/17/2018 08/17/18 | Pending | -- | -- | -- |
| 07/20/2018 07/20/18 | For Sale | $1,599,500 | -- | $327 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History Compared to Growth
Agents Affiliated with this Home
-
Garvy Hou
Seller's Agent in 2021
Garvy Hou
PACIFIC STERLING REALTY
(626) 878-6706
13 Total Sales
-
Luis Anaya
Buyer's Agent in 2021
Luis Anaya
Keller Williams Legacy
(714) 651-8830
1 in this area
59 Total Sales
-
Greg Bassirpou
Seller's Agent in 2020
Greg Bassirpou
Marcus & Millichap RE Invest
(949) 419-3269
1 in this area
32 Total Sales
-
Katharine Hou
Buyer's Agent in 2020
Katharine Hou
Coldwell Banker Realty
(626) 731-8213
1 in this area
1 Total Sale
-
Leovy Albarado
Seller's Agent in 2018
Leovy Albarado
RE/MAX
(661) 816-6876
112 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: OC20116272
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The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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