208 West Hoover Avenue

Orange, CA 92867

$6,390,000
Price
3
Beds
20
Baths
12,054 Sq. Ft.
$530 / Sq. Ft.
12,054
Sq. Ft.
$530
per Sq. Ft.

Description

Located in the heart of the highly sought-after city of Orange, this 20-unit apartment building presents a compelling investment proposition with significant upside potential in rental income. Comprising of 16 one-bedroom, one-bathroom units, and four spacious two-bedroom, one-bathroom units, this property caters to a wide range of tenant needs. 16 One-Bedroom, One-Bathroom Units: These well-appointed units provide comfortable living spaces for singles or couples, offering modern amenities and privacy....Located in the heart of the highly sought-after city of Orange, this 20-unit apartment building presents a compelling investment proposition with significant upside potential in rental income. Comprising of 16 one-bedroom, one-bathroom units, and four spacious two-bedroom, one-bathroom units, this property caters to a wide range of tenant needs. 16 One-Bedroom, One-Bathroom Units: These well-appointed units provide comfortable living spaces for singles or couples, offering modern amenities and privacy. 4 Two-Bedroom, One-Bathroom Units: Designed for families or those desiring extra space, these units are highly attractive to a broader tenant base. This property boasts ample parking for residents with 16 garage parking spaces and an additional 6 surface parking spaces. The convenience of dedicated parking enhances tenant satisfaction and retention. The building has separate meters for electricity and a master meter for gas and water, creating the perfect foundation for implementing a Ratio Utility Billing System (RUBS) program. This opens the door to an additional revenue stream and allows for a more equitable distribution of utility costs among tenants. Situated in the thriving city of Orange, this apartment building enjoys a prime location within a highly desirable rental market. Orange is known for its vibrant community, excellent schools, and proximity to major employers, making it an attractive destination for both residents and investors alike.
  1. Listed by Jason Kirklen • DRE #01939655 • Brokerage DRE #02128238 • Kirklen Investment Group • 949-942-1302

Property Details for 208 West Hoover Avenue

Parking Spaces Total
20
Private Pool
No
Total Units
20.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
12054
Property Attached YN
true
Common Walls
2+ Common Walls

Location

Listing Courtesy of Kirklen Investment Group, Jason Kirklen, DRE #01939655
Add your commute
LISTING UPDATED: 04/11/2024 05:14 AM

Property Details for 208 West Hoover Avenue

StatusActive
MLS #OC24071998
Days on Market19
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1961
CountyOrange County

Location

Listing Courtesy of Kirklen Investment Group, Jason Kirklen, DRE #01939655
Add your commute

Building Information for 208 West Hoover Avenue

Building/Complex208 W Hoover AveFloor-Stories2Residences-Pet Policy-Year Built1961Building Size-

Payment Calculator

$35,928 per month

30 year fixed, 7.25% Interest

Principal and Interest

$34,873

Property Taxes

$1,055

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 208 West Hoover Avenue

Income / Expense / Tax Details
Income Details
  • Gross Income: $487,320
  • Gross Scheduled Income: $481,500
  • Net Operating Income: $320,340
  • Other Income Description: RUBS
  • Other Income 1: $5,820
Expense Details
  • Operating Expense: $152,535
  • Fuel Expense: $6,579
  • Electric Expense: $7,486
  • Insurance Expense: $10,711
  • Professional Management Expense: $17,900
  • Trash Expense: $8,349
  • Water Sewer Expense: $8,763
  • Total Expenses: $152,535
Tax / Assessment Info
  • Tax Tract Number: 3774
  • CFD/Mello-Roos Fee: $4,987
  • Tax Lot: 6
Community / Development
Community / Development
  • Community Features: Curbs, Gutters, Sidewalks
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Common Area
Exterior Features
  • Entry Location: central courtyard
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
Land/Lot Info
  • Lot Features: 16-20 Units/Acre
  • Number Of Units: 20
  • Land Lease: No
  • Land Lease Type: Fee
  • Water: Public
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 20
  • Parking Garage Spaces: 20
  • Carport Spaces: 0
Unit Information
Unit 1
  • Unit Type Units Total: 16
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,912
  • Unit Type Total Rent: $30,595
  • Unit Type Pro Forma: 2080
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 4
  • 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: $2,383
  • Unit Type Total Rent: $9,530
  • Unit Type Pro Forma: 2592
  • Unit Type Type: 2
Unit Information
  • Rent Controlled: Yes
  • Number Of Buildings: 2
  • Number Of Separate Electric Meters: 20
  • Number Of Separate Gas Meters: 20
  • Number Of Separate Water Meters: 2

Property History for 208 West Hoover Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 208 West Hoover Avenue

Taxable ValueLand$727,582Additions$229,111Total$956,693
Tax Record2023$12,665 ($1,055 / month)
Home Facts
Total Finished SqFt6,027 SqFtAbove Grade Finished SqFt6,027 SqFtStories2Lot Size9,239 SqFtStyleMulti-Family Res (5+ Units)Year Built1961CountyORANGEAPN375-283-04

Schools near 208 West Hoover Avenue

This home is within Orange Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 6
Public - 6 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
California Elementary School
PublicK to 6

Yorba Middle School
Public6 to 8

Orange High School
Public9 to 12

Richland Continuation High 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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208 West Hoover Avenue is a multi-family home for sale in Orange, CA 92867. This property was listed for sale on April 11, 2024 by Kirklen Investment Group, it's currently listed at $6,390,000. This listing's school district is Orange Unified School District. Nearby schools include California Elementary School, Yorba Middle School and Orange High School. 208 West Hoover Avenue is a 3-bed, 20-bath, 12,054 sqft multi-family home built in 1961.

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 Kirklen Investment Group, Jason Kirklen, DRE #01939655

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.