283 Avocado Street
283 Avocado Street
$12,000,000
6
31
14,159
14,159
$848
Description
Legitimate turnkey multifamily investment property offering a range of one-, two-, and three-bedroom loft-style floor plans. Substantial investment was made in 2023 and 2024, with over $1.7M in interior and exterior capital improvements. 100% of the interiors are fully renovated, including all new appliances, cabinets/counters, new electrical panels, flooring, painting and drywall, and all new windows and doors. Common area improvements include the roofs, painting, termite & pest mitigation, and...Legitimate turnkey multifamily investment property offering a range of one-, two-, and three-bedroom loft-style floor plans. Substantial investment was made in 2023 and 2024, with over $1.7M in interior and exterior capital improvements. 100% of the interiors are fully renovated, including all new appliances, cabinets/counters, new electrical panels, flooring, painting and drywall, and all new windows and doors. Common area improvements include the roofs, painting, termite & pest mitigation, and tenting of the entire structure, exterior wood, decking, all new stairs and railings, all new asphalt, hardscape/softscape, mailboxes, plumbing, house electrical panels, and garage doors. ABOVE ALL, the debt component sets this project apart from nearly all other investments within the marketplace. Available to assume is a private note with a 50% LTV and interest-only payments for nine years, starting at 3.5%, with a cap at 5.0%, resulting in a blended interest rate of 4.61% over the term. This equates to an initial cash-on-cash return of over 4% with a down payment of $6,000,000—no appraisal required, no points for the loan assumption, COE in 30 days or less.
- Listed by Tyler Leeson • DRE #01451551 • Brokerage DRE #00530854 • Marcus & Millichap RE Invest • 714-713-9086
- Listed by WMichael Cavner • DRE #01274709 • Brokerage DRE #01274709 • William Michael Cavner, Broker
Property Details for 283 Avocado Street
Parking Spaces Total
38
Private PoolNo
Total Units25.0
Building TypeDetached
Lot Size SourceAssessor
Living Area14159
Assessor Parcel Number419-071-20
Property Attached YNfalse
Location
LISTING UPDATED: 04/23/2024 04:17 AM
Property Details for 283 Avocado Street
Status | Active |
---|---|
MLS # | OC24013316 |
Days on Market | 98 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Residential Income |
Year Built | 1973 |
County | Orange County |
Location
Building Information for 283 Avocado Street
Building/Complex283 Avocado StFloor-Stories2Residences-Pet Policy-Year Built1973Building Size-
Payment Calculator
$70,684 per month
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Property Information for 283 Avocado Street
Property History for 283 Avocado Street
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 283 Avocado Street
Taxable ValueLand$4,504,737Additions$695,263Total$5,200,000
Tax Record2023$62,344 ($5,195 / month)
Home Facts
Total Finished SqFt14,159 SqFtAbove Grade Finished SqFt14,159 SqFtStories2Lot Size18,594 SqFtStyleMulti-Family Res (5+ Units)Year Built1973CountyORANGEAPN419-071-21
Schools near 283 Avocado Street
This home is within Newport-Mesa Unified School District.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | K to 6 | |||
Public - | 7 to 12 | |||
Public - | K to 6 | |||
Public - | 9 to 12 |
Rating | School | Distance |
---|---|---|
College Park Elementary School PublicK to 6 | ||
Costa Mesa High School Public7 to 12 | ||
Maude B. Davis Elementary School PublicK to 6 | ||
Back Bay 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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