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1001 W La Palma Ave, Anaheim, CA 92801
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1001 W La Palma Ave Anaheim, CA 92801

$2,597,000 Sold Price as of 04/13/2022
  • 10 Beds
  • 10 Baths
  • 6,336 Sq.Ft.
Sold
$2,597,000 Sold Price as of 04/13/2022 Refinance Your Mortgage
Map preview of 1001 W La Palma Ave, Anaheim, CA 92801

Property Overview: 1001 W La Palma Ave Anaheim, CA has 10 bedrooms, 10 bathrooms, 6,336 living square feet and 9,148 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: 1001 W. La Palma Avenue is an immaculately maintained 10 unit apartment complex located in the city of Anaheim. This pride of ownership asset has received over $400,000 in renovations and upgrades to the interiors and exterior. Tenants of the La Palma apartments enjoy new kitchen cabinets with granite countertops, ceramic tile flooring, new appliances including microwaves, fully renovated bathrooms including tile shower walls, new tubs and vanities. These high quality units translate to long term tenants and short term turnovers when they do occur. Additionally, the building exterior has received ample improvements including new windows, new roofs, new railings and resurfaced decks, new asphalt driveway, redone landscaping & hardscaping and fresh exterior paint. All of these improvements keep demand from renters exceptionally high and existing tenants willing to pay top market rents. Lastly, the property has been re-piped for gas lines along with a new water heater and the property has been converted to individual electric meters. The La Palma apartments is perfect for the investor looking to enjoy immediate cash flow on a low maintenance property. The Buyer will be able to continue to improve rents for years to come without the need for major renovations or extra capital expenditures making this asset a highly desirable find.

Listed by Rick Applebaum | BRE #01273871 | Morgan Skenderian
Co-listed by Paul Espinosa | BRE #01942627 | Morgan Skenderian
Last checked: 4 minutes ago | Last updated: February 27th, 2024 | Source CRMLS | DOM: 1

Home details

Lot Sq. Ft
9,148
HOA Dues
$0/mo
Year built
1960
Garage
--
Property Type:
Multi Family
Status
Sold
MLS#
PW22026666
City
Anaheim
County
Orange
Time on Site
826 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 10
  • Total # of Buildings: 1
  • # of Leased Units: 10
  • # of Electric Meters: 11
  • # of Gas Meters: 1
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,450
  • Total Rent: $1,450
  • Pro Forma/Market Rent: $1,625
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,466
  • Total Rent: $1,466
  • Pro Forma/Market Rent: $1,625
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,493
  • Total Rent: $1,493
  • Pro Forma/Market Rent: $1,625
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,336
  • Total Rent: $1,336
  • Pro Forma/Market Rent: $1,625
Unit Breakdown 5
  • # of Units: 5
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 5
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,412
  • Total Rent: $7,060
  • Pro Forma/Market Rent: $1,625
Unit Breakdown 6
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,425
  • Total Rent: $1,425
  • Pro Forma/Market Rent: $1,625
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: --
  • Gross Scheduled Income: $171,960
  • Net Operating Income: $110,261
  • Gross Operating Income: $166,801
  • Vacancy Allowance: $5,159
Annual Expense Breakdown
  • Total Operating Expense: $56,540
  • Electric: $859
  • Gas/Fuel: $1,986
  • New Taxes: $31,172
  • Trash: $2,186
  • Gardener: $1,500
  • Insurance: $2,338
  • Maintenance: $10,008
  • Professional Management: $0
  • Water/Sewer: $3,434
  • Other Expenses: $600
  • Other Expense Description: Misc

Property Details for 1001 W La Palma Ave

Interior Features
Heating Information
  • Has Heating
  • Central
Laundry Information
  • Has Laundry
  • Common Area
Interior Features
  • Levels: Two
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 10
Lot Information
  • Lot Features: 0-1 Unit/Acre
  • Lot Size Source: Assessor
  • Common Interest: None
Property Information
  • Common Walls: 2+ Common Walls
  • Total # of Units: 10
  • Parcel Number: 27102122
  • Year Built Source: Assessor
  • Property is Attached
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Location / Neighborhood
Location Information
  • Directions: South of the 91 Freeway
Neighborhood Information
  • Community Features: Curbs, Sidewalks
View more facts & features

Local Anaheim Agent

Sale History for 1001 W La Palma Ave

Last leased for $1,900 on February 26th, 2024

  • February, 2024

  • Feb 26, 2024

    Date

    Leased

    CRMLS: OC24027760

    $1,900

    Price

  • Feb 8, 2024

    Date

    Active

    CRMLS: OC24027760

    $1,895

    Price

  • Listing provided courtesy of CRMLS

    Fully renovated one bedroom one bathroom unit. New kitchen, new bathroom, new flooring, recessed lights, new windows, breakfast bar, on-site carport parking, granite countertops, gas oven, microwave oven, ceiling fan, on-site laundry room, and on-site Amazon lockers. Great location near Anaheim Medical Center, Retail, Schools, Entertainment, and Restaurants. One year lease. Owner pays for water and trash. No pets.

  • August, 2023

  • Aug 29, 2023

    Date

    Expired

    CRMLS: OC23083581

    $1,885

    Price

  • May 15, 2023

    Date

    Active

    CRMLS: OC23083581

    $1,885

    Price

  • Listing provided courtesy of CRMLS

    Fully Rennovated one bedroom one bathroom unit. New Kitchen, New Bathroom, New Flooring, Recessed Lights, New Windows, breakfast bar, On-Site carport parking, Granite Counter tops, Gas Oven, Microwave Oven, Ceiling fan and On-site Laundry Room. Great Location Near Anaheim Medical Center, Retail, Schools, Entertainment & Restaurants. One year lease. Owner Pays for water and trash. No Pets

  • February, 2022

  • Feb 10, 2022

    Date

    Active

    CRMLS: PW22026666

    $2,750,000

    Price

  • October, 2014

  • Oct 10, 2014

    Date

    Sold (Public Records)

    Public Records

    $1,135,000

    Price

Show More

Tax History for 1001 W La Palma Ave

Assessed Value (2020): $1,216,411
Year Land Value Improved Value Assessed Value
2020 $754,175 $462,236 $1,216,411

Home Value Compared to the Market

This property vs the competition

1001 W La Palma Ave sold on April 13, 2022 for 212.5% higher than the current median sold price for the city of Anaheim which is $880,000. The median sold price per/sqft for Anaheim is $542 and this home is sold at $434.03 per/sqft which puts the price per square foot 19.92% lower than the current median sale per square foot for the city of Anaheim.

About 1001 W La Palma Ave

Detailed summary of property

1001 W La Palma Ave is a multi family that recently sold in Anaheim, CA 92801. This multi family property offered 10 bedrooms, 10 bathrooms, roughly 6,336 living square feet, and sits on an approximately 9,148 square foot lot. 1001 W La Palma Ave was first listed on ArdentRealEstateGroup.com on February 10, 2022. The homeowner sold the property for $2,597,000. Home in Anaheim are selling for a median price of $880,000 and a median price per square foot of $542. Based on Ardent Real Estate Group's Anaheim Market Data, this home is sold 212.5% higher than the current median priced home. Local homes that are currently for sale include 7736 Sugar Dr, 16172 Malaga Ln and 12642 Kalnor Ave. While the average home in Anaheim, CA is selling in 40 days, 1001 W La Palma Ave has a days on market of 1 days. There are currently 258 homes for sale in the Anaheim real estate market and 151 of them are single family homes while 78 of them are condos and 29 are townhomes. For more information on this home for sale at 1001 W La Palma Ave Anaheim, CA 92801 contact Ardent Real Estate Group and we will put you in touch with one of our Anaheim agents.

Public Facts for 1001 W La Palma Ave

Public county record property details
Beds
--
Baths
--
Year built
1960
Sq. Ft.
476
Lot Size
9,107
Stories
2
Type
Multi-Family Dwellings (Generic, Any Combination 2+)
Pool
No
Spa
No
County
Orange
Lot#
1
APN
271-021-22

The source for these homes facts are from public records.

92801 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$795,000
Median List Price/Sq.Ft.
$548
Median Sold Price
$850,000
Median Sold Price/Sq.Ft.
$501
Total Inventory
50
Median Sale to List Price %
101.63%
Avg Days on Market
21
Loan Type
Conventional (57.89%), FHA (0%), VA (0%), Cash (21.05%), Other (21.05%)

Thinking of Selling?

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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