1020 Cypress Street

    Placentia, CA 92870
    • $1,170,000
    • STATUS: Closed
    • ON SITE: 159 days
    • ID#: OC19131131
    Sold - 09/27/2019
    $1,170,000
    SOLD - 09/27/2019
    • 0
      BEDS
    • 0.27
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 3,600
      SQFT
    • $325
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1964
    County:

    School Ratings & Info

    Description

    We are pleased to present this nicely renovated four-unit multifamily property located in Placentia, California. The asset offers 100% townhome style two-bed / one and a half-bath units. The property is well maintained and 3 of 4 units have been fully renovated inside. There is ample garage and open parking available for tenants, which is a nice amenity in the densely populated city. There is a laundry room conveniently located on-site. The unit amenities comprise of new cabinets, new counter tops, new vanities, new paint, new fixtures, and new flooring. Each unit is individually metered for gas & electricity.This property is in a good central Placentia location right near major retail, educational, and employment opportunities. The property is conveniently located less than a mile from the CA-91 Freeway, which allow tenants to connect with the greater California region and beyond. This offering provides an investor the opportunity to acquire a well maintained apartment community with exceptional value-add upside in a premier location within the city. Given the strength of the overall apartment market within the city of Placentia, the property offers an investor the ability to capture quality tenants seeking a great neighborhood with convenient access to a wide variety of activities, transportation and retail amenities.

    Sold by Leo Soukeris of First Olympic Realty Inc.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-11-12T20:31:33.387. 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 or J1 REALTY GROUP. Licensed in the State of California, USA.
    www.j1re.com/homes/95568489

    1020 Cypress Street Placentia, CA 92870

    • Price: $1,215,000
    • Status: Closed
    • Updated: 88 min ago
    • ID#: OC19131131
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.27
    Acres
    3,600
    SQFT
    $325
    $/SQFT
    1964
    Built
    Neighborhood:
    Granada Vista (Grnv)
    County:
    Orange
    Area:
    84 - Placentia
    Property Description
    We are pleased to present this nicely renovated four-unit multifamily property located in Placentia, California. The asset offers 100% townhome style two-bed / one and a half-bath units. The property is well maintained and 3 of 4 units have been fully renovated inside. There is ample garage and open parking available for tenants, which is a nice amenity in the densely populated city. There is a laundry room conveniently located on-site. The unit amenities comprise of new cabinets, new counter tops, new vanities, new paint, new fixtures, and new flooring. Each unit is individually metered for gas & electricity.This property is in a good central Placentia location right near major retail, educational, and employment opportunities. The property is conveniently located less than a mile from the CA-91 Freeway, which allow tenants to connect with the greater California region and beyond. This offering provides an investor the opportunity to acquire a well maintained apartment community with exceptional value-add upside in a premier location within the city. Given the strength of the overall apartment market within the city of Placentia, the property offers an investor the ability to capture quality tenants seeking a great neighborhood with convenient access to a wide variety of activities, transportation and retail amenities.
    Exterior Features

    Construction Materials Stucco Garage Spaces 5.00 Lot Features 2-5 Units/Acre Lot Size Source Assessor Lot Size Units Acres Parking Features AssignedDrivewayGarage Parking Total 9.00 Parking YN Yes Pool Features None Pool Private YN No Property Attached YN Yes Road Surface Type Paved Spa Features None Spa YN No

    Interior Features

    Appliances DisposalGas OvenGas RangeRange HoodWater Heater Central Appliances YN Yes Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area 900 Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls 1 Common Wall Flooring CarpetVinyl Heating Forced Air Heating YN Yes Laundry Features Common AreaCommunity Levels Two Window Features Blinds

    Property Features

    Additional Parcels YN No Association Fee 0.00 Association YN No Building Area Units Square Feet Cap Rate 4.74 Community Features Sidewalks Country Us Electric Expense 1500.00 Elevation Units Feet Fuel Expense 1200.00 Gardener Expense 600.00 Gross Income 85860.00 Gross Multiplier 14.72 Gross Operating Income 83383.00 Gross Scheduled Income 85860.00 Gross Spendable Income 57619.00 Have 4 Townhouse Style Units | Placentia Insurance Expense 2000.00 Land Lease YN No Laundry Equipment Own Lease Lease Laundry Income 3300.00 Laundry YN Yes Maintenance Expense 2000.00 Net Operating Income 57619.00 New Construction YN No New Taxes Expense 13244.00 Number Of Separate Electric Meters 5 Number Of Separate Gas Meters 5 Number Of Separate Water Meters 1 Number Of Units Leased 4 Number With Carpet 4 Number With Disposal 4 Number With Range 4 Operating Expense 25764.00 Pest Control Expense 720.00 Property Condition Updated/Remodeled Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Subdivision Name Other Granada Vista (Grnv) Tax Rate 1.09 Tenant Pays Cable TvElectricityGasTelephone Total Actual Rent 6880.00 Total Expenses 25764.00 Trash Expense 2100.00 Utilities Cable ConnectedElectricity ConnectedNatural Gas ConnectedPhone ConnectedSewer ConnectedWater Connected Vacancy Allowance 2477 Vacancy Allowance Rate 3.00 Water Sewer Expense 2400.00 Water Source Public Year Built Source Assessor

    Listing provided courtesy of Mark Bridge of Mark Bridge, Broker


    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-11-12T20:31:33.387. 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 or J1 REALTY GROUP. Licensed in the State of California, USA.
     
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    16755 Von Karman Ave, Ste 200
    Irvine CA, 92606