$4,900,000
$5,000,000
2.0%For more information regarding the value of a property, please contact us for a free consultation.
1501 N Brea BLVD Fullerton, CA 92835
1.82 Acres Lot
Key Details
Sold Price $4,900,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Subdivision Other (Othr)
MLS Listing ID OC20147841
Sold Date 12/30/20
Condo Fees $54,120
HOA Fees $54,120/mo
HOA Y/N Yes
Year Built 1992
Annual Tax Amount $61,669
Tax Year 2020
Lot Size 1.820 Acres
Property Description
*** SELLER WILL CARRY A NEW FIRST LOAN, INTEREST ONLY, DUE IN 5 YEARS ***
The subject property is an outstanding investment opportunity with a stable income stream, rental upside, in-place capital expenditure reserves and an excellent amenity package An investor will reap the immediate benefit of the community Association’s recently approved, massive special assessment that infused its reserves with the addition of over $630,000 to cover the costs of common area maintenance and upgrades that will modernize its hallways, interior lighting and other common areas.
Built in 1992, the offering consists of twenty-two 1 bedroom / 1 bath rental condominium units within a sixty-eight unit complex which are distributed throughout three floors of the property. All of the units provide central air conditioning and heating, gas ranges, microwave ovens, dishwashers and large private balconies or patios. Most of the units have either hillside views or views of the neighboring Lions Field sports complex and Hillside Park.
This offering provides several unique ownership benefits rarely available in properties in this size: common area management and maintenance and a broad range of common amenities such as multiple fitness rooms on each floor, a community room with a full kitchen, media center and pool table, a private park, a pool and spa and laundry rooms and restroom facilities on each floor of the complex.
Location
State CA
County Orange
Area 83 - Fullerton
Interior
Interior Features Balcony, Elevator, Open Floorplan, Trash Chute, Tile Counters, Unfurnished, Bedroom on Main Level
Heating Central, Forced Air
Cooling Central Air
Flooring Carpet, Tile
Fireplace No
Appliance Disposal, Gas Range, Microwave
Laundry Common Area
Exterior
Parking Features None
Fence Good Condition, Security, Wrought Iron
Pool Filtered, In Ground, Association
Community Features Foothills, Golf, Hiking, Park, Suburban, Sidewalks, Gated
Utilities Available Cable Connected, Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
Amenities Available Billiard Room, Controlled Access, Fitness Center, Maintenance Grounds, Game Room, Meeting Room, Meeting/Banquet/Party Room, Barbecue, Pool, Spa/Hot Tub, Trash, Cable TV
View Y/N Yes
View Park/Greenbelt, Hills
Roof Type Flat,Mansard
Accessibility No Stairs
Private Pool No
Building
Lot Description Irregular Lot, Yard
Story 4
Entry Level Three Or More
Foundation Raised, Slab
Sewer Public Sewer
Water Public
Architectural Style Cape Cod
Level or Stories Three Or More
New Construction No
Others
Senior Community Yes
Tax ID 93640200
Security Features Security System,Closed Circuit Camera(s),Fire Detection System,Fire Sprinkler System,Security Gate,Gated Community,Key Card Entry,Smoke Detector(s)
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Financing Cash
Special Listing Condition Standard
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Bought with Joseph Berkson • Marcus & Millichap RE Invest