1188 West Valencia Drive
1188 West Valencia Drive
$2,250,000
8
8
5,452
5,452
$413
Closed 10/6/23
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....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.
- Listed by Bill Larson • DRE #01373184 • Brokerage DRE #01008773 • First Team Real Estate
Property Details for 1188 West Valencia Drive
Parking Spaces Total
20
Private PoolNo
Total Units8.0
Building TypeAttached
Lot Size SourceAssessor
Living Area5452
Assessor Parcel Number031-363-03
Property Attached YNtrue
Location
LISTING UPDATED: 10/06/2023 09:53 AM
Property Details for 1188 West Valencia Drive
Status | Closed |
---|---|
MLS # | PW23082558 |
Days on Market | 103 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Mixed Use |
MLS Type | Residential Income |
Year Built | 1953 |
Lot Size | 0.41 AC / 17,860 SF |
County | Orange County |
Location
Building Information for 1188 West Valencia Drive
Stories1Residences-Year Built1953Building Size-Lot Size0.41 AC / 17,860 SF
Payment Calculator
$13,297 per month
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Property Information for 1188 West Valencia Drive
Property History for 1188 West Valencia Drive
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 1188 West Valencia Drive
Taxable ValueLand$973,113Additions$79,377Total$1,052,490
Tax Record2023$12,219 ($1,018 / month)
Home Facts
Total Finished SqFt2,726 SqFtAbove Grade Finished SqFt2,726 SqFtStories1Lot Size8,661 SqFtStyleQuadraplexYear Built1953CountyORANGEAPN031-363-03
Schools near 1188 West Valencia Drive
This home is within Fullerton Joint Union High School District.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | K to 6 | |||
Public - | 7 to 8 | |||
Public - | 9 to 12 | |||
Public - | 9 to 12 |
Rating | School | Distance |
---|---|---|
Pacific Drive Elementary School PublicK to 6 | ||
Nicolas Junior High School Public7 to 8 | ||
Fullerton Union High School Public9 to 12 | ||
La Sierra High (Alternative) School Public9 to 12 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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