Property listed by E Realty, Yazen Haddad 562-881-9947
$2,500,000
Rare opportunity to acquire a fully renovated, turnkey four-unit investment property in the heart of Fountain Valley. Offering approximately 4,500 square feet of living area, the property features an exceptional unit mix of two spacious 3-bedroom, 2-bath residences and two 2-bedroom, 2-bath residences.
All four units have been extensively renovated with… Read More updated kitchens, beautifully finished bathrooms, modern flooring, fixtures, and contemporary finishes throughout. Each unit also features its own individual washer and dryer, adding convenience for tenants and further enhancing rental appeal. The property also features a new roof and a fully remodeled exterior, including upgraded landscaping and new artificial turf designed for attractive, low-maintenance ownership.
The improvements and additional living area have been completed with permits, creating a highly desirable approximately 10-bedroom, 8-bath configuration. Pro forma rents of $4,250 for each 3-bedroom unit and $3,500 for each 2-bedroom unit generate approximately $15,500 in monthly Gross Scheduled Income and $186,000 in annual GSI.
With strong Fountain Valley rental demand, an unusually desirable mix of larger two- and three-bedroom units, extensive interior and exterior improvements, in-unit laundry for every residence, and turnkey condition throughout, this property offers an excellent opportunity for an investor seeking strong income potential with minimal near-term capital expenditures. Read Less
Listing Snapshot
Days Online
8
Last Updated
Property Type
Quadruplex
Lot Size
0.18 Acres
Year Built
1964
MLS Number
OC26187316
Additional Details
Building
Built in 1964, 1 building, 1 storey, Levels: One, Entry level: 1, Entry location: 1
Community
Gutters
Expenses
Insurance: $4,000, Operating: $30,000
Home Owner's Association
Association Fee: $0
Income
Gross Income: $156,000, Gross ScheduledIncome: $186,000, Net Operating Income: $156,000
Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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