Fullerton, CA 92833,1188 W Valencia DR
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Fullerton, CA 92833,1188 W Valencia DR
Fullerton, CA 92833,1188 W Valencia DR
Fullerton, CA 92833,1188 W Valencia DR
Fullerton, CA 92833,1188 W Valencia DR

$2,250,000

Est. payment /mo

$2,500,000

10.0%
Est.Price: ?

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1188 W Valencia DR Fullerton, CA 92833

5,452 SqFt

SOLD DATE : 10/06/2023

Key Details

Sold Price $2,250,000

Property Type Multi-Family

Sub Type Mixed Use

Listing Status Sold

Purchase Type For Sale

Square Footage 5,452 sqft

Price per Sqft $412

Subdivision Via Valencia (Viav)

MLS Listing ID PW23082558

Sold Date 10/06/23

HOA Y/N No

Year Built 1953

Lot Size 0.410 Acres

Property Description

Two single story mid-century modern 4-plex's next to each other being sold as an 8 unit apartment building. The building has a recently replace roof and many upgrades. The building features four 2bed 1bath units and four Studio units. All the units have large back yards and front yards off a paved center courtyard area Two of the 2 bed 1 bath units have fire places. The units all have vaulted ceilings and lots of natural light. There are 10 electric meters and 10 gas meters as well as 2 water meters. Each of the buildings is a mirror image of the other. There are two laundry rooms but only 1 is being used at this time and the other is on site storage. There are 4 single garages directly adjacent to the laundry rooms at the back of each building. Each buildings laundry room and 4 adjacent garages is 777 Sq. Ft and is a perfectly set up to be converted to an ADU for additional income. There are already two extra eclectic and gas meters that are used for the laundry rooms. There is also 12 surface parking spaces at the back of the property. The rents are under market and could be brought up. If the rents were increased to the Profroma market this building would be at a 6.5 Cap. With the additional rent archived from adding 2 ADU units by converting the garages and laundry rooms the building could be at a Profroma 7.8 Cap. This is an amazing opportunity for someone looking for a project on a building with great bones and huge upside potential.

Location

State CA

County Orange

Area 83 - Fullerton

Rooms

Ensuite Laundry Common Area

Interior

Laundry Location Common Area

Heating Fireplace(s), Wall Furnace

Fireplaces Type Family Room

Fireplace Yes

Laundry Common Area

Exterior

Garage Spaces 8.0

Garage Description 8.0

Pool None

Community Features Storm Drain(s), Street Lights, Suburban, Sidewalks

Roof Type Asphalt

Total Parking Spaces 20

Private Pool No

Building

Lot Description 6-10 Units/Acre, Back Yard, Level, Rectangular Lot, Street Level

Story 1

Entry Level One

Sewer Public Sewer

Water Public

Level or Stories One

New Construction No

Others

Senior Community No

Tax ID 03136303

Energy Description 253.95

Acceptable Financing Cash, Cash to New Loan, 1031 Exchange

Listing Terms Cash, Cash to New Loan, 1031 Exchange

Financing Cash

Special Listing Condition Standard

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California Regional MLS (CRMLS)
Listed by Bill Larson • First Team Real Estate
Bought with Prashant Sampat • Pacific Avenue Realty

Jacqueline Screeton

Agent | License ID: 01858560

+1(949) 395-4732

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