1188 West Valencia Drive

Fullerton, CA 92833

$2,250,000
Last Sold Price
8
Beds
8
Baths
5,452 Sq. Ft.
$413 / Sq. Ft.
5,452
Sq. Ft.
$413
per Sq. Ft.

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.
  1. 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 Pool
No
Total Units
8.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
5452
Assessor Parcel Number
031-363-03
Property Attached YN
true

Location

Listing Courtesy of First Team Real Estate, Bill Larson, DRE #01373184

Sold By Pacific Avenue Realty, Prashant Sampat, DRE #01916221

Add your commute
LISTING UPDATED: 10/06/2023 09:53 AM

Property Details for 1188 West Valencia Drive

StatusClosed
MLS #PW23082558
Days on Market103
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMixed Use
MLS TypeResidential Income
Year Built1953
Lot Size0.41 AC / 17,860 SF
CountyOrange County

Location

Listing Courtesy of First Team Real Estate, Bill Larson, DRE #01373184

Sold By Pacific Avenue Realty, Prashant Sampat, DRE #01916221

Add your commute

Building Information for 1188 West Valencia Drive

Stories1Residences-Year Built1953Building Size-Lot Size0.41 AC / 17,860 SF

Payment Calculator

$13,297 per month

30 year fixed, 7.25% Interest

Principal and Interest

$12,279

Property Taxes

$1,018

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1188 West Valencia Drive

Rental Info
Rental Info
  • Tenant Pays: Cable TV, Electricity, Gas
Income / Expense / Tax Details
Income Details
  • Gross Income: $0
  • Gross Scheduled Income: $161,454
  • Net Operating Income: $104,746
  • Garage Income: $0
  • Cap Rate: 4.2
  • Financing: Cash
Expense Details
  • Operating Expense: $56,708
  • New Taxes Expense: $31,250
  • Gardener Expense: $1,440
  • Fuel Expense: $254
  • Pest Control Expense: $860
  • Electric Expense: $331
  • Insurance Expense: $2,500
  • Professional Management Expense: $8,073
  • Trash Expense: $2,400
  • Water Sewer Expense: $9,600
  • Total Expenses: $56,708
Tax / Assessment Info
  • Tax Tract Number: 1595
  • Tax Census Tract: 111.01
  • Tax Lot: 4
Community / Development
Community / Development
  • Assessments YN: Yes
  • Assessments: Unknown
  • Community Features: Sidewalks, Storm Drains, Street Lights, Suburban
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Common Area, Community
  • Fireplace Features: Family Room
  • Fireplace Rooms: Family Room
  • Heating Type: Wall
  • Heating: Fireplace(s), Wall Furnace
Exterior Features
  • Roof: Asphalt
  • Entry Location: 1
  • Pool Features: None
  • Pool Description: None
Land/Lot Info
  • Additional Parcels Description: 03136304
  • Lot Features: 6-10 Units/Acre, Back Yard, Level with Street, Lot 10000-19999 Sqft, Rectangular Lot, Level
  • Number Of Units: 8
  • Land Lease: No
  • Land Lease Type: Fee
  • Levels: One
  • Water: Public
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 8
  • Uncovered Spaces: 12
  • Open Other Spaces Total: 12
  • Parking Garage Spaces: 8
  • Carport Spaces: 0
Property / Structure Info
  • Builders Tract Name: Via Valencia
  • Builders Tract Code: Via Valencia (VIAV)
Unit Information
Unit 1
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,906
  • Unit Type Total Rent: $1,906
  • Unit Type Pro Forma: 2800
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 0
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,425
  • Unit Type Total Rent: $1,425
  • Unit Type Pro Forma: 1800
  • Unit Type Type: 2
Unit 3
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 0
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,200
  • Unit Type Total Rent: $1,200
  • Unit Type Pro Forma: 1800
  • Unit Type Type: 3
Unit 4
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $2,079
  • Unit Type Total Rent: $2,079
  • Unit Type Pro Forma: 2800
  • Unit Type Type: 4
Unit 5
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,847
  • Unit Type Total Rent: $1,847
  • Unit Type Pro Forma: 2800
  • Unit Type Type: 5
Unit 6
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 0
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,320
  • Unit Type Total Rent: $1,320
  • Unit Type Pro Forma: 1800
  • Unit Type Type: 6
Unit 7
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 0
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,425
  • Unit Type Total Rent: $1,425
  • Unit Type Pro Forma: 1800
  • Unit Type Type: 7
Unit 8
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $2,200
  • Unit Type Total Rent: $2,200
  • Unit Type Pro Forma: 2800
  • Unit Type Type: 8
Unit Information
  • Number Of Units Leased: 8
  • Rent Controlled: No
  • Number Of Buildings: 2
  • Number Of Separate Electric Meters: 10
  • Number Of Separate Gas Meters: 10
  • Number Of Separate Water Meters: 2
  • Number With Range: 8
  • Number With Refrigerator: 8
  • Number With Disposal: 8
  • Number With Patio: 8

Property History for 1188 West Valencia Drive

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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.

Similar Homes

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Similar Sold Homes

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of First Team Real Estate, Bill Larson, DRE #01373184

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.