1042 W Porter Avenue

    Fullerton, CA 92833
    • $1,850,000
    • STATUS: Active Under Contract
    • ON SITE: 18 days
    • ID#: PW18279499
    Under Contract
    UPDATED: 45 min ago
    $1,850,000
    • 0
      BEDS
    • 0.25
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 5,121
      SQFT
    • $361
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1958
    County:

    School Ratings & Info

    Description

    Two story 8 unit apartment building in a highly desirable Fullerton neighborhood. The Porter Avenue Villas in located in a beautifully manicured culd-de-sac and is 100% occupied with a mixture of long term and new tenants, all of which are on month-to-month agreements providing an investor the opportunity to increase rents and immediately increase return.All featured units are composed of 1 BD & 1 BA floor plans that are spacious and well designed along with featuring a large outdoor landscaped entertainment area for residence enjoyment. Additionally, there are (2) 2-car garages and (4) 1-car garages accessible by the alley. Onsite leased laundry provides residence a low cost option to complete laundry onsite along with providing owner additional income.The Porter Avenue Villas have 9 electric meters, 1 gas meter and 1 water meter. Landlord expenses include common expenses which include water, gas and trash services. All tenant specific units are separately metered for electricity.The Porter Avenue Villas are located near the cross streets of Euclid St and Orangethorpe Ave and within walking distance to multiple retail shopping center destinations, the 91 Freeway onramp and close proximity to Downtown Fullerton and all its amenities. Coupled with its close proximity to many Southern California's family destinations such as Disneyland, Los Angeles Angels of Anaheim Stadium, Honda Center, Knott's Berry Farm and more.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-12-15T18:28:59.653. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
    www.teamforss.com/homes/89643418

    1042 W Porter Avenue Fullerton, CA 92833

    • Price: $1,850,000
    • Status: Active Under Contract
    • Updated: 45 min ago
    • ID#: PW18279499
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.25
    Acres
    5,121
    SQFT
    $361
    $/SQFT
    1958
    Built
    Neighborhood:
    Other (Othr)
    County:
    Orange
    Area:
    83 - Fullerton
    Property Description
    Two story 8 unit apartment building in a highly desirable Fullerton neighborhood. The Porter Avenue Villas in located in a beautifully manicured culd-de-sac and is 100% occupied with a mixture of long term and new tenants, all of which are on month-to-month agreements providing an investor the opportunity to increase rents and immediately increase return.All featured units are composed of 1 BD & 1 BA floor plans that are spacious and well designed along with featuring a large outdoor landscaped entertainment area for residence enjoyment. Additionally, there are (2) 2-car garages and (4) 1-car garages accessible by the alley. Onsite leased laundry provides residence a low cost option to complete laundry onsite along with providing owner additional income.The Porter Avenue Villas have 9 electric meters, 1 gas meter and 1 water meter. Landlord expenses include common expenses which include water, gas and trash services. All tenant specific units are separately metered for electricity.The Porter Avenue Villas are located near the cross streets of Euclid St and Orangethorpe Ave and within walking distance to multiple retail shopping center destinations, the 91 Freeway onramp and close proximity to Downtown Fullerton and all its amenities. Coupled with its close proximity to many Southern California's family destinations such as Disneyland, Los Angeles Angels of Anaheim Stadium, Honda Center, Knott's Berry Farm and more.
    Exterior Features

    Garage Spaces 8.00 Lot Features Back YardCul-De-SacLot 10000-19999 Sqft Lot Size Source Assessor Lot Size Units Square Feet Parking Total 13.00 Pool Features None Pool Private YN No Property Attached YN Yes Road Frontage Type AlleyCity Street

    Interior Features

    Average Studio Area Units Square Feet Average1 Bed Area 640 Average1 Bed Area Units Square Feet Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls 2+ Common Walls Cooling Wall Window Cooling YN Yes Heating Forced Air Heating YN Yes Laundry Features CommunityIndividual Room Levels Two

    Property Features

    Additional Parcels YN No Association Fee 0.00 Association YN No Building Area Units Square Feet Cap Rate 4.40 Community Features CurbsSidewalks Country Us Electric Expense 420.00 Elevation Units Feet Fuel Expense 1988.00 Gardener Expense 600.00 Gross Income 120600.00 Gross Multiplier 15.57 Gross Operating Income 118224.00 Gross Scheduled Income 120600.00 Insurance Expense 1138.00 Land Lease YN No Laundry Income 1800.00 Laundry YN Yes Maintenance Expense 5900.00 Maintenance Percent 5.00 Net Operating Income 80927.00 New Construction YN No New Taxes Expense 20075.00 Number Of Separate Electric Meters 9 Number Of Separate Gas Meters 1 Number Of Separate Water Meters 1 Number Of Units Leased 8 Operating Expense 37297.00 Professional Management Expense 0.00 Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Subdivision Name Other Unknown Tenant Pays Electricity Total Expenses 37397.00 Trash Expense 640.00 Vacancy Allowance 2376 Water Sewer Expense 6536.00 Water Source Public Year Built Source Assessor Zoning R3

    Listing provided courtesy of Cameron Irons of Svn / Vanguard.


    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-12-15T18:28:59.653. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
     
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