$1,797,000
$1,700,000
5.7%For more information regarding the value of a property, please contact us for a free consultation.
7,405 Sqft Lot
SOLD DATE : 09/26/2023
Key Details
Sold Price $1,797,000
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Sold
Purchase Type For Sale
Subdivision ,Covington
MLS Listing ID OC23135707
Sold Date 09/26/23
Construction Status Repairs Cosmetic
HOA Y/N No
Rental Info 12 Months
Year Built 1969
Lot Size 7,405 Sqft
Property Description
Extremely sought after Covington style 4-unit apartment building with a desirable mix comprised of (1) One-Bedroom/One-Bathroom, (2) Two- Bedroom/Two-Bathroom, and (1) Three- Bedroom/Two-Bathroom totaling approx. 4109 living sq ft. This is an excellent asset-add opportunity for any Investor. Current ownership has professionally maintained the asset. The property possesses many advantageous features such as the 3-bedroom single story unit offers a private enclosed patio. One lower 2-bedroom 2 bath boasts a large fenced in yard perfect for kids or herb garden. The upper 2 bedroom is a mirrored image of lower 2 bedroom with a quaint balcony. Upper 1 bedroom unit extends over the 4 attached single car garages and is generous in size and loads of storage and has a great room feel. Units also offer 2 additional parking spaces and coin operated laundry that generates additional income. Each unit has its own gas meter. This fully rented fourplex is situated in a cul-de -sac location on a highly sought after tree-lined street. The building offers a low maintenance yard, long-term tenants and is situated within minutes of South Coast Plaza, freeway access, shopping, entertainment, John Wayne airport and close to Segerstrom center. With the continued addition and demand for new development, this should continue to drive both population growth and increased household income, which ultimately provides much confidence for continued rent escalation.
Location
State CA
County Orange
Area 69 - Santa Ana South Of First
Interior
Interior Features Ceiling Fan(s), Bedroom on Main Level, Main Level Primary, Primary Suite
Heating Central
Cooling None
Flooring Carpet, Laminate
Fireplaces Type Gas Starter, Living Room
Fireplace Yes
Appliance Dishwasher, Free-Standing Range, Disposal, Range Hood, Water Heater
Laundry Common Area
Exterior
Garage Assigned, Garage, Garage Door Opener
Garage Spaces 4.0
Garage Description 4.0
Fence Average Condition, Vinyl
Pool None
Community Features Curbs, Street Lights, Sidewalks
Utilities Available Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
View Y/N No
View None
Roof Type Composition
Parking Type Assigned, Garage, Garage Door Opener
Total Parking Spaces 6
Private Pool No
Building
Lot Description Cul-De-Sac, Lawn
Faces South
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Construction Status Repairs Cosmetic
Others
Senior Community No
Tax ID 41010204
Security Features Smoke Detector(s)
Acceptable Financing Cash to New Loan, Conventional
Listing Terms Cash to New Loan, Conventional
Financing VA
Special Listing Condition Trust
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Bought with Brandon Bacchas • RE/MAX ESTATE PROPERTIES
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