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Listing IDPW23085046
Sold For$1,758,000
Price/SqFt$585.02
StatusClosed
Sold Date11/14/2023
SqFt
3,005
Acres
0.136
CountyOrange
Year Built1960
Property TypeResidential Income
Property Sub TypeApartment
We are pleased to present the Southgate Apartments, a turnkey 5-unit apartment complex located in Fullerton, CA. The property offers an easy to manage unit mix of all large 1-bedroom 1-bath units. The building has undergone extensive capital improvements in both the interior and exterior in recent years, giving it a modern appeal. Some of these upgrades include stainless-steel appliances, new laminate wood flooring, quartz countertops, new cabinetry, and upgraded bathrooms. Additional features include garage parking, a shared laundry facility and copper plumbing throughout the property. With strong in-place rents generating a current cap rate of 4.3%, 4.8% with market rents, this asset is easy to manage and is conveniently located near Downtown Fullerton, Fullerton College, and Cal State Fullerton.
County
Orange
Price/SqFt
585.02
Property Sub Type
Apartment
Property Type
Residential Income
Year Built
1960
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
2+ Common Walls
Garage Spaces
5
Laundry
yes
Laundry Features
Common Area
Stories Total
2
Entry Level
1
Lot Features
Rectangular Lot
Lot Size Area
5915
Lot Size Source
Public Records
Lot Size Square Feet
5915
Number Of Buildings
1
Parking Total
5
Pool Features
None
Private Pool
no
Property Attached
yes
Sewer
Public Sewer
Water Source
Public
Country
US
Elevation Units
Feet
MLS Area Major
83 - Fullerton
Additional Parcels
no
Community Features
Sidewalks
Days On Market
112
List Agent State License
00955403
List Office State License
01921625
Lot Size Units
Square Feet
New Construction
no
Number Of Separate Electric Meters
6
Number Of Separate Gas Meters
6
Number Of Separate Water Meters
1
Number Of Units Total
5
Parcel Number
03228221
Senior Community
no
Start Showing Date
2023-05-23T00:00:00+00:00
Year Built Source
Public Records
Gross Scheduled Income
114000
Land Lease
no
Net Operating Income
76195
Operating Expense
34385
Price Per Unit
357600
Rent Control
no
Special Listing Conditions
Standard
Tax Lot
3
Tax Tract Number
3123
Total Expenses
34385
© 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 Thursday, March 28th, 2024.
Based on information from CARETS as of Thursday, March 28th, 2024 02:46:11 AM. 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 Thursday, March 28th, 2024 02:46:11 AM. 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 PW23085046
Mahesh Patel
8028 Santa Ana Canyon Road
Anaheim Hills, CA 92808
Phone: 7144708600
Data services provided by IDX Broker