NOT LISTED FOR SALE

619 S Cypress St Orange, CA 92866

Orange Area
7 Beds
6 Baths
5,078 Sq Ft
8,050 Sq Ft Lot

Sale Details

Date Sold: May 28, 2015

Last sale price $1,150,000 $226 Per Sq Ft

14 Days on Market

Highlights

  • Lawn
  • Landscaped
  • Rectangular Lot
  • No HOA
  • Laundry Facilities
  • Wood Siding

About This Home

As of May 2015

The Cypress Street Apartments located in the city of Orange is in an excellent area with easy access to nearby elementary schools, restaurants, and parks. It is also a five minute drive from the St. Joseph Hospital and right by the 22 Garden Grove Freeway. Investors are receiving a rare opportunity to own a great and consistent income producing property in a prime location.
Built in 1966, the Cypress Street Apartments contains 4 large units on an 8,050 square foot lot. The building has a pitched ceramic tile roof with an on-site laundry facility for the tenants. There are four one-car garages available, so the apartments contain an excellent parking ratio of one to one. The property is very well maintained with recent exterior paint, and beautiful landscaping that brings great curb appeal. The Cypress Street apartments have a 100% occupancy rate and feature a great unit mix.
The Cypress Street Apartments is a stable income-producing property and a great long-term investment. It is located in a desirable, non-rent controlled area, has an excellent unit mix, and 1,200+ square foot units. This property offers growth and stability for any type of investor whether it may be a first-time purchase or 1031 exchange opportunity.

Last Agent to Sell the Property

Eric Chen

CB RICHARD ELLIS License #01489184 Listed on: 04/01/2015

Last Buyer's Agent

Eric Chen

CB RICHARD ELLIS License #01489184 Listed on: 04/01/2015

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Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1955

Lot Details

  • 8,050 Sq Ft Lot
  • Property fronts a highway
  • Property fronts an alley
  • Two or More Common Walls
  • Landscaped
  • Rectangular Lot
  • Paved or Partially Paved Lot
  • Lawn
  • Front Yard
  • Density is 21-25 Units/Acre

Parking

  • 4 Car Garage
  • Parking Available
  • Rear-Facing Garage
  • Single Garage Door
  • Assigned Parking

Home Design

  • 5,078 Sq Ft Home
  • Property Attached
  • Composition Roof
  • Wood Siding

Bedrooms and Bathrooms

  • 7 Bedrooms
  • 6 Bathrooms

Outdoor Features

  • Rain Gutters

Utilities

  • Cooling System Mounted To A Wall/Window
  • Wall Furnace

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Tax Lot 6
  • Tax Tract Number 70
  • Assessor Parcel Number 39063206

Community Details

Overview

  • No Home Owners Association
  • 4 Units

Amenities

  • Laundry Facilities

Building Details

  • 4 Leased Units
  • 4 Separate Electric Meters
  • 4 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $660
  • Gardener Expense $960
  • Insurance Expense $800
  • Maintenance Expense $4,435
  • Professional Management Expense $2,957
  • Trash Expense $470
  • Water Sewer Expense $1,380
  • New Taxes Expense $12,783
  • Gross Income $6,350
  • Net Operating Income $49,121

Property Details

Home Type

Multi-Family

Year Built

Built in 1955

Lot Details

8,050 Sq Ft Lot

Parking

4

Listing Details

  • CapRate: 4.27
  • Professional Management Expense: 2957.00
  • Property Attached: Yes
  • Road Frontage Type: Alley, City Street, Highway
  • Road Surface Type: Alley Paved, Maintained, Paved
  • View: No
  • Water Sewer Expenses: 1380.00
  • Property Type: Residential Income
  • Gardener Expense: 960.00
  • Parcel Number: 39063206
  • Year Built: 1955
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: No
  • Common Walls: 2+ Common Walls
  • Levels: Two
  • Price Per Square Foot: 226.47

Exterior Features

  • Pool Private: No
  • Roof: Composition
  • Spa: No
  • Construction Materials: Wood Siding

Garage/Parking

  • Garage Spaces: 4.00
  • Parking: Yes
  • Parking Features: Assigned, Garage Faces Rear, Garage - Single Door
  • Total Parking Spaces: 4.00

Utilities

  • Utilities: Electricity Available, Sewer Connected, Water Connected
  • Heating: Yes
  • Laundry: Yes
  • Heating Type: Wall Furnace
  • Laundry Features: Community
  • Trash Expense: 470.00
  • Water Source: Public
  • Cooling: Wall/Window Unit(s)
  • Cooling: Yes

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Curbs, Gutters, Sidewalks

Lot Info

  • Lot Features: 21-25 Units/Acre, Front Yard, Lawn, Landscaped, Rectangular Lot, Paved
  • Lot Size Sq Ft: 8050.00
  • Lot Size Acres: 0.1850

Rental Info

  • Tenant Pays: Electricity, Gas

Multi Family

  • Average2 Bed Area: 1215
  • Average3 Bed Area: 1433
  • Electric Expense: 660.00
  • Gross Income: 6350.00
  • Gross Multiplier: 15.27
  • Gross Scheduled Income: 75300.00
  • Insurance Expense: 800.00
  • Lot Size Area: 8050.0000 Square Feet
  • Maintenance Expense: 4435.00
  • Maintenance Percent: 6.00
  • Net Operating Income: 49121.00
  • 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: 24793.00
  • Operating Expense Percent: 33.54
  • Rent Control: No
  • Total Actual Rent: 6275.00
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 12783.00
  • Tax Area: Orange
  • Taxes Percent: 17.00
  • Tax Lot: 6
  • Tax Rate: 1.03
  • Tax Tract Number: 70
  • Tax Year: 2014

Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Agents Specializing in Orange, CA

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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
-- None Listed On Document
Do Stephanie Anh Hang -- None Available
Do Minh Canh $1,150,000 First American Title Company
Chou Benjamin $1,080,000 North American Title Company
Noteboom John -- None Available
Noteboom John M $1,108,000 First American Title Co
Wolkowicz John A $455,000 Chicago Title Co
Millen Jacqueline M -- --
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
Previous Owner $730,000
Previous Owner Chou Benjamin $801,000
Previous Owner Noteboom John M $886,400
Previous Owner Wolkowicz John A $747,500
Previous Owner Wolkowicz John A $172,500
Previous Owner Wolkowicz John A $595,000
Previous Owner Wolkowicz John A $430,000
Previous Owner Wolkowicz John A $397,500
Previous Owner Wolkowicz John A $19,000
Previous Owner Wolkowicz John A $364,000
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 Prior Sale
05/28/2015 05/28/15 Sold $1,150,000 0.0% $226 / Sq Ft
04/15/2015 04/15/15 Pending -- -- --
04/01/2015 04/01/15 For Sale $1,150,000 +7.1% $226 / Sq Ft
04/16/2014 04/16/14 Sold $1,074,000 -6.6% $211 / Sq Ft View Prior Sale
03/31/2014 03/31/14 For Sale $1,150,000 -- $225 / Sq Ft
02/25/2014 02/25/14 Pending -- -- --
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 $17,973 $1,623,648 $1,437,050 $186,598
2025 $17,973 $1,591,812 $1,408,872 $182,940
2024 $17,576 $1,560,600 $1,381,247 $179,353
2023 $17,186 $1,530,000 $1,354,163 $175,837
2022 $16,852 $1,500,000 $1,327,610 $172,390
2021 $14,357 $1,276,869 $1,097,910 $178,959
2020 $14,224 $1,263,777 $1,086,653 $177,124
2019 $14,048 $1,238,998 $1,065,347 $173,651
2018 $13,835 $1,214,704 $1,044,457 $170,247
2017 $13,267 $1,190,887 $1,023,978 $166,909
2016 $13,013 $1,167,537 $1,003,900 $163,637
2015 $12,259 $1,095,458 $931,058 $164,400
2014 $11,126 $989,471 $788,305 $201,166
Source: Public Records

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: CV15067974

California Regional Multiple Listing Service (CRMLS)
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