$2,350,000

Estimated payment $14,833/month

Total Views 4,092
12 Beds
10 Baths
5,187 Sq Ft
$453 Price per Sq Ft

Highlights

  • No HOA
  • Laundry Room
  • Wrought Iron Fence
  • Solar owned by seller
  • Central Heating
  • Level Lot

About This Home

Prime Newer Construction 4-Unit Investment OpportunityBuilt in 2023 by Ocean Development, this fully leased 4-unit property offers strong cash flow with current monthly rental income of $14,526 — with additional upside through future rent increases. Each spacious unit features 3 bedrooms, 2+ bathrooms, and approximately 1,300 sq ft of modern, high-quality living space.Designed for low maintenance and maximum appeal, each unit includes solid wood kitchen cabinetry, dual-pane windows, central heating, and private in-unit laundry rooms. Separate electric, gas, and water meters ensure tenants pay their own utilities. Owned solar systems further reduce operational costs, maximizing your bottom line.Located in an area with strong tenant demand, the property is non-rent-controlled, offering flexibility for future rent growth. Parking is abundant with two 3-car garages servicing the front and rear units, plus additional off-street parking.Professional concierge property management is available, making this a turnkey, headache-free investment. A rare opportunity for investors seeking immediate cash flow, long-term appreciation, and a high-quality, easy-to-manage asset.

Listing Agent

Brian Davis

Douglas Elliman of California Inc. Brokerage Phone: 9495629119 License #02067087 Listed on: 04/28/2025

Douglas Elliman of California Inc.

Co-Listing Agent

Joshua Altman

Douglas Elliman of California Brokerage Phone: 9495629119 License #01764587

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $27,741

Year Built

  • Built in 2023

Lot Details

  • 7,648 Sq Ft Lot
  • 1 Common Wall
  • Wrought Iron Fence
  • Wood Fence
  • Level Lot
  • Density is 2-5 Units/Acre

Parking

  • 3 Open Parking Spaces
  • 6 Car Garage
  • 3 Carport Spaces
  • Parking Available
  • Driveway

Home Design

  • Quadruplex
  • Entry on the 1st floor
  • Planned Development
  • Slab Foundation
  • Composition Roof
  • Stucco

Interior Spaces

  • 5,187 Sq Ft Home
  • 2-Story Property
  • Laundry Room

Bedrooms and Bathrooms

  • 12 Bedrooms
  • 10 Bathrooms

Eco-Friendly Details

  • Solar owned by seller

Utilities

  • Central Heating
  • Natural Gas Connected

Listing and Financial Details

  • Tax Lot 361
  • Assessor Parcel Number 6032027026
  • $337 per year additional tax assessments

Community Details

Overview

  • No Home Owners Association
  • 2 Buildings
  • 4 Units

Building Details

  • 4 Leased Units
  • 4 Separate Electric Meters
  • 4 Separate Gas Meters
  • 4 Separate Water Meters
  • Insurance Expense $3,000
  • Maintenance Expense $1,200
  • Other Expense $2,400
  • Professional Management Expense $7,488
  • Operating Expense $14,628
  • Net Operating Income $131,559

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$27,741

Year Built

Built in 2023

Lot Details

0

Parking

6

Listing Details

  • Assessments: No
  • CapRate: 5.60
  • Price Per Unit: 587500
  • Professional Management Expense: 7488.00
  • Property Attached: Yes
  • View: No
  • Zoning: LARD1.5
  • Property Sub Type: Quadruplex
  • Property Type: Residential Income
  • Parcel Number: 6032027026
  • Year Built: 2023
  • Special Features: NewHome

Interior Features

  • Fireplace: No
  • Stories: 2
  • Entry Location: front of property
  • Common Walls: 1 Common Wall
  • Appliances: Yes
  • Entry Level: 1
  • Levels: One, Two
  • Price Per Square Foot: 453.06

Exterior Features

  • Foundation: Slab
  • Fence: Yes
  • Fencing: Wood, Wrought Iron
  • Pool Private: No
  • Roof: Composition
  • Spa: No
  • Construction Materials: Stucco

Garage/Parking

  • Carport Spaces: 3.00
  • Garage Spaces: 6.00
  • Parking: Yes
  • Parking Features: Driveway
  • Total Parking Spaces: 12.00
  • Uncovered Spaces: 3.00

Utilities

  • Utilities: Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
  • Heating: Yes
  • Laundry: Yes
  • Appliances: Refrigerator
  • Electric: Photovoltaics Seller Owned, Standard
  • Heating Type: Central
  • Laundry Features: Inside
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Common Interest: Planned Development
  • Community Features: Curbs

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 2-5 Units/Acre, Level with Street
  • Lot Size Sq Ft: 7648.00
  • Lot Size Acres: 0.1756

Rental Info

  • Tenant Pays: All Utilities

Multi Family

  • Gross Scheduled Income: 174312.00
  • Insurance Expense: 3000.00
  • Lot Size Area: 7648.0000 Square Feet
  • Maintenance Expense: 1200.00
  • Net Operating Income: 131559.00
  • Number Of Separate Electric Meters: 4
  • Number Of Separate Gas Meters: 4
  • Number Of Separate Water Meters: 4
  • Number Of Units Leased: 4
  • Number Of Units Total: 4
  • Number With Range: 4
  • Number With Refrigerator: 4
  • Operating Expense: 42753.00
  • Other Expense: 2400.00
  • Other Expense Description: Repairs
  • Rent Control: No
  • Total Actual Rent: 14526.00
  • Total Expenses: 14628.00
  • Vacancy Allowance Rate: 3.00

Tax Info

  • Tax Census Tract: 2383.10
  • Tax Lot: 361
  • Tax Tract Number: /
  • TaxOtherAnnualAssessmentAmount: 337.00

Map

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





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 $27,741 $2,340,900 $1,560,600 $780,300
2024 $27,741 $2,295,000 $1,530,000 $765,000
2023 $9,512 $765,000 $612,000 $153,000
2022 $9,077 $750,000 $600,000 $150,000
2021 $3,974 $310,731 $248,698 $62,033
2019 $3,861 $301,516 $241,322 $60,194
2018 $3,763 $295,605 $236,591 $59,014
2016 $3,594 $284,127 $227,404 $56,723
2015 $3,544 $279,860 $223,989 $55,871
2014 $3,454 $265,188 $212,068 $53,120
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
04/28/2025 04/28/25 For Sale $2,350,000 +213.3% $453 / Sq Ft
11/24/2021 11/24/21 Sold $750,000 +25.0% $549 / Sq Ft
10/25/2021 10/25/21 Pending -- -- --
10/22/2021 10/22/21 For Sale $599,999 -- $439 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Purchase History

Date Type Sale Price Title Company
Deed -- Lawyers Title
Grant Deed $2,250,000 Lawyers Title
Grant Deed $750,000 First Amer Ttl Co Res Div
Interfamily Deed Transfer -- Usa National Title Co
Quit Claim Deed -- None Available
Interfamily Deed Transfer -- None Available
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Open $1,575,000 New Conventional
Previous Owner $1,575,000 No Value Available
Previous Owner $850,000 Commercial
Previous Owner $75,000 Construction
Previous Owner $850,000 Construction
Previous Owner $229,000 New Conventional
Previous Owner $230,000 Unknown
Previous Owner $121,000 Unknown
Source: Public Records

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: OC25090025

California Regional Multiple Listing Service (CRMLS)

APN: 6032-027-026