1321 S Vine Avenue Avenue

    Fullerton, CA 92833
    • $24,500,000
    • STATUS: Active
    • ON SITE: 31 days
    • ID#: PW19220903
    UPDATED: 27 min ago
    $24,500,000
    • 0
      BEDS
    • 2.16
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 56,028
      SQFT
    • $437
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1964
    County:

    School Ratings & Info

    Description

    The Vine Fullerton Apartment Homes is a 98 unit investment opportunity in the desirable city of Fullerton. The Vine Fullerton Apartments is a verywell maintained property situated on 2.55 acres with meandering sidewalks through beautifully landscaped grounds with an inviting swimming pool, fitness center, and laundry facility. The unit mix consists primarily of efficient one bedroom units, many of which have large patios.The Vine Fullerton Apartments have been recently renovated on the interior as well as the exterior. Interior renovations for a number of units include new flooring, paint, counter tops, appliances, upgraded electrical and plumbing. Exterior renovations include new windows, leasing office, fitness center, laundry room, pool furniture, railing, gates, stairs, signage, upgraded landscape, and a new camera security system.Although there has been a significant amount of work done to the property, there still remains many upgrades that can be done to the exterior as well as the interior of the units. Rebranding the asset with a total renovation upgrade package to the interiors to include new kitchen cabinets, granite counter tops, new appliances, and hard surface flooring along with integrating a full RUBS program to the property will give a new owner significant amount of upside in income while lower operational expenses.

    Monthly Payment Calculator



    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-10-18T07:34:57.537. 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/99004198

    1321 S Vine Avenue Avenue Fullerton, CA 92833

    • Price: $24,500,000
    • Status: Active
    • Updated: 27 min ago
    • ID#: PW19220903
    0
    Beds
    0
    Baths
    0
    ½ Baths
    2.16
    Acres
    56,028
    SQFT
    $437
    $/SQFT
    1964
    Built
    Neighborhood:
    699 - Not Defined
    County:
    Orange
    Area:
    699 - Not Defined
    Property Description
    The Vine Fullerton Apartment Homes is a 98 unit investment opportunity in the desirable city of Fullerton. The Vine Fullerton Apartments is a verywell maintained property situated on 2.55 acres with meandering sidewalks through beautifully landscaped grounds with an inviting swimming pool, fitness center, and laundry facility. The unit mix consists primarily of efficient one bedroom units, many of which have large patios.The Vine Fullerton Apartments have been recently renovated on the interior as well as the exterior. Interior renovations for a number of units include new flooring, paint, counter tops, appliances, upgraded electrical and plumbing. Exterior renovations include new windows, leasing office, fitness center, laundry room, pool furniture, railing, gates, stairs, signage, upgraded landscape, and a new camera security system.Although there has been a significant amount of work done to the property, there still remains many upgrades that can be done to the exterior as well as the interior of the units. Rebranding the asset with a total renovation upgrade package to the interiors to include new kitchen cabinets, granite counter tops, new appliances, and hard surface flooring along with integrating a full RUBS program to the property will give a new owner significant amount of upside in income while lower operational expenses.
    Exterior Features

    Carport Spaces 63.00 Garage Spaces 85.00 Lot Features Lot Over 40000 Sqft Lot Size Source Assessor Lot Size Units Square Feet Parking Total 185.00 Pool Features Private Pool Private YN Yes Property Attached YN Yes

    Interior Features

    Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls 1 Common Wall Laundry Features Common Area Levels Two

    Property Features

    Additional Parcels Description 07105181 Additional Parcels YN Yes Building Area Units Square Feet Cap Rate 4.00 Community Features CurbsGuttersSidewalks Country Us Electric Expense 0.00 Elevation Units Feet Fuel Expense 0.00 Gross Income 0.00 Gross Multiplier 14.02 Gross Operating Income 1697970.00 Gross Scheduled Income 1747920.00 Gross Spendable Income 491329.00 Insurance Expense 18532.00 Land Lease YN No Laundry YN Yes Net Operating Income 982729.00 New Construction YN No New Taxes Expense 265100.00 Number Of Separate Electric Meters 1 Number Of Separate Gas Meters 1 Number Of Separate Water Meters 1 Operating Expense 715241.00 Professional Management Expense 0.00 Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Total Expenses 715241.00 Trash Expense 0.00 Vacancy Allowance 49950 Vacancy Allowance Rate 3.00 Water Sewer Expense 0.00 Water Source Public Year Built Source Other

    Listing provided courtesy of Jay Skenderian of Morgan Skenderian


    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-10-18T07:34:57.537. 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.
     
    J1 REALTY GROUP
    16755 Von Karman Ave, Ste 200
    Irvine CA, 92606