2547 East Park Lane

Anaheim, CA 92806

$1,325,000
Last Sold Price
9
Beds
7
Baths
4,634 Sq. Ft.
$286 / Sq. Ft.
4,634
Sq. Ft.
$286
per Sq. Ft.

Description

First time on the market in over 20 years. The Park Lane 4-plex is a large Covington built 4-plex located in Northeast Anaheim; bordering Placentia. The building will provide an immediate return as current rents are just under $8,000 a month totaling over $95,000 a year. The structure is 4,634 square feet and features large 2 and 3 bedroom apartments. All units have patios/balconies, wall A/C units, central heat, tile flooring and have updated kitchen cabinets, stone countertops and bathroom vanities....First time on the market in over 20 years. The Park Lane 4-plex is a large Covington built 4-plex located in Northeast Anaheim; bordering Placentia. The building will provide an immediate return as current rents are just under $8,000 a month totaling over $95,000 a year. The structure is 4,634 square feet and features large 2 and 3 bedroom apartments. All units have patios/balconies, wall A/C units, central heat, tile flooring and have updated kitchen cabinets, stone countertops and bathroom vanities. Tenants enjoy enclosed garage parking and have access to an onsite laundry facility, which provides additional income to the owner. Operating costs at the building are minimal as tenants pay their own gas, electric and cable. The Park Lane apartments boast a current cap rate of 4.6% and with interest rates at all time lows, the investment will provide an immediate cash flow.
  1. Listed by Michael Arp • DRE #01488586 • Brokerage DRE #01220368 • Morgan Skenderian

Property Details for 2547 East Park Lane

Parking Spaces Total
7
Private Pool
No
Cooling Type
Wall/Window
Total Units
4.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
4634
Assessor Parcel Number
344-021-01

Location

Listing Courtesy of Morgan Skenderian, Michael Arp, DRE #01488586

Sold By Citihome, Thanh Pham, DRE #01823398

Add your commute
LISTING UPDATED: 04/01/2021 01:35 AM

Property Details for 2547 East Park Lane

StatusClosed
MLS #PW21008145
Days on Market49
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1969
Lot Size0.18 AC / 7,841 SF
CountyOrange County

Location

Listing Courtesy of Morgan Skenderian, Michael Arp, DRE #01488586

Sold By Citihome, Thanh Pham, DRE #01823398

Add your commute

Building Information for 2547 East Park Lane

Stories2Residences-Year Built1969Building Size-Lot Size0.18 AC / 7,841 SF

Payment Calculator

$8,538 per month

30 year fixed, 7.25% Interest

Principal and Interest

$7,231

Property Taxes

$1,307

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 2547 East Park Lane

Rental Info
Rental Info
  • Tenant Pays: Cable TV, Electricity, Gas
Income / Expense / Tax Details
Income Details
  • Gross Income: $96,300
  • Gross Scheduled Income: $96,300
  • Vacancy Allowance: 2853
  • Vacancy Allowance Rate: 3
  • Gross Operating Income: $93,447
  • Net Operating Income: $65,048
  • Laundry Income: $100
  • Gross Multiplier: 14.49
  • Cap Rate: 4.7
  • Financing: Cash To New Loan
Expense Details
  • Operating Expense: $28,399
  • Operating Expense Percent: 29.50%
  • New Taxes Expense: $15,286
  • Gardener Expense: $900
  • Fuel Expense: $0
  • Electric Expense: $0
  • Insurance Expense: $1,622
  • Other Expense: $4,440
  • Other Expense Description: Utility
  • Trash Expense: $0
  • Water Sewer Expense: $0
  • Total Expenses: $28,399
Tax / Assessment Info
  • Tax Tract Number: 5231
  • Tax Census Tract: 117.20
  • Tax Lot: 10
Community / Development
Community / Development
  • Community Features: Sidewalks
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Individual Room
  • Cooling: Wall/Window Unit(s)
  • Heating: Central
Exterior Features
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
Land/Lot Info
  • Lot Features: Lot 6500-9999
  • Number Of Units: 4
  • Levels: Two
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 5
  • Parking: Yes
  • Uncovered Spaces: 2
  • Open Other Spaces Total: 2
  • Parking Garage Spaces: 5
  • Carport Spaces: 0
  • Parking Features: Garage Faces Rear
Unit Information
Unit 1
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 3
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 2
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $2,200
  • Unit Type Total Rent: $2,200
  • Unit Type Pro Forma: 2500
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $1,875
  • Unit Type Total Rent: $1,875
  • Unit Type Pro Forma: 2050
  • Unit Type Type: 2
Unit 3
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $1,850
  • Unit Type Total Rent: $1,850
  • Unit Type Pro Forma: 2050
  • 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: Yes
  • Unit Type Actual Rent: $2,000
  • Unit Type Total Rent: $2,000
  • Unit Type Pro Forma: 2000
  • Unit Type Type: 4
Unit Information
  • Number Of Units Leased: 4
  • Rent Controlled: Yes
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 5
  • Number Of Separate Gas Meters: 5
  • Number Of Separate Water Meters: 1

Property History for 2547 East Park Lane

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 2547 East Park Lane

Taxable ValueLand$1,177,950Additions$200,580Total$1,378,530
Tax Record2023$15,689 ($1,307 / month)
Home Facts
Total Finished SqFt4,634 SqFtAbove Grade Finished SqFt4,634 SqFtStories2Lot Size7,922 SqFtStyleQuadraplexYear Built1969CountyORANGEAPN344-021-01

Schools near 2547 East Park Lane

This home is within Placentia-Yorba Linda Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Rio Vista Elementary School
PublicK to 5

Valadez Middle School Academy
Public6 to 8

Valencia High School
Public9 to 12

El Camino Real 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.

Similar Homes

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Similar Sold Homes

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Listing Courtesy of Morgan Skenderian, Michael Arp, DRE #01488586

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.