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Listing IDPW21154134
Sold For$1,820,000
Price/SqFt$390.56
StatusClosed
Sold Date10/20/2021
SqFt
4,660
Acres
0.162
CountyOrange
SubdivisionClassic Homes (CLAS)
Year Built1961
Property TypeResidential Income
2024 E. Whiting Avenue is a rarely available 6 unit apartment complex in the city of Fullerton. The subject property is desirably comprised of majority two bedroom units making this asset in demand to investors and tenants. Additionally, tenants are provided garage parking, on-site laundry, air condition and secured entry with a private courtyard. Renters also benefit from the property’s proximity to Downtown Fullerton (approximately 2 miles) and Cal State Fullerton University (approximately 1 mile) as wells it’s convenient access to the 57, 91 & 5 Freeways allowing expedient travel throughout Orange & Los Angeles County. The property has been well maintained by the existing ownership with two of the units seeing full interior renovations. Great upside potential will allow the new owner to increase rents quickly while continuing the upgrading of the property and substantially improving the return on investment. All of these attributes attract long term renters at elevated rent levels leading to exceptional returns for the new investor in this complex.
County
Orange
Price/SqFt
390.56
Property Type
Residential Income
Subdivision
Classic Homes (CLAS)
Year Built
1961
Average 1 Bed Area Units
Square Feet
Average 2 Bed Area Units
Square Feet
Average 3 Bed Area Units
Square Feet
Average Studio Area Units
Square Feet
Building Area Units
Square Feet
Common Walls
No Common Walls
Garage Spaces
6
Laundry
yes
Laundry Features
Community
Lot Features
Lawn, Yard
Lot Size Area
7075
Lot Size Source
Public Records
Lot Size Square Feet
7075
Number Of Buildings
1
Parking Total
6
Pool Features
None
Private Pool
no
Property Attached
no
Sewer
Sewer Paid
Water Source
Public
Country
US
Elevation Units
Feet
MLS Area Major
83 - Fullerton
Subdivision Name Other
Classic Homes (CLAS)
Additional Parcels
no
Co List Agent State License
01942627
Co List Office State License
01220368
Community Features
Street Lights
Days On Market
19
List Agent State License
01273871
List Office State License
01220368
Lot Size Units
Square Feet
New Construction
no
Number Of Separate Electric Meters
7
Number Of Separate Gas Meters
1
Number Of Separate Water Meters
1
Number Of Units Total
6
Parcel Number
26909303
Senior Community
no
Year Built Source
Public Records
Cap Rate
4.05
Electric Expense
2216
Fuel Expense
2216
Gardener Expense
1800
Gross Multiplier
15.36
Gross Operating Income
114282
Gross Scheduled Income
117816
Insurance Expense
1864
Land Lease
no
Laundry Income
1416
Maintenance Expense
6857
Maintenance Percent
6
Net Operating Income
73274
New Taxes Expense
21122
Operating Expense
41007
Operating Expense Percent
34.8
Other Expense
500
Other Expense Description
MISC
Other Income 1
1200
Price Per Unit
301666
Rent Control
yes
Special Listing Conditions
Standard
Tax Lot
40
Tax Tract Number
2807
Total Expenses
41007
Trash Expense
2216
Vacancy Allowance
3534
Vacancy Allowance Rate
3
Water Sewer Expense
2216
© 2024. The multiple listing data appearing on this website is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for the consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the consumer may be interested in purchasing. All data, including but not limited to 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. Any correspondence from IDX pages are routed to First Team Real Estate or one of their associates. Last updated Wednesday, April 17th, 2024.
Based on information from CARETS as of Wednesday, April 17th, 2024 02:30:08 PM. The information being provided by CARETS is for the visitor's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CARETS, CLAW, CRISNet MLS, i-Tech MLS, PSRMLS and/or VCRDS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
Any property information referenced on this website comes from the Internet Data Exchange (IDX) program of CRISNet MLS and/or CARETS. 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.
Based on information from CARETS as of Wednesday, April 17th, 2024 02:30:08 PM. The information being provided by CARETS is for the visitor's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CARETS, CLAW, CRISNet MLS, i-Tech MLS, PSRMLS and/or VCRDS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
Any property information referenced on this website comes from the Internet Data Exchange (IDX) program of CRISNet MLS and/or CARETS. 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.
Contact - Listing ID PW21154134
Mahesh Patel
8028 Santa Ana Canyon Road
Anaheim Hills, CA 92808
Phone: 7144708600
Data services provided by IDX Broker