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1188 W Valencia Dr, Fullerton, CA 92833
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1188 W Valencia Dr Fullerton, CA 92833

$2,250,000 Sold Price as of 10/06/2023
  • 8 Beds
  • 8 Baths
  • 5,452 Sq.Ft.
Sold
$2,250,000 Sold Price as of 10/06/2023 Refinance Your Mortgage
Map preview of 1188 W Valencia Dr, Fullerton, CA 92833

Property Overview: 1188 W Valencia Dr Fullerton, CA has 8 bedrooms, 8 bathrooms, 5,452 living square feet and 17,860 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: Two single story mid-century modern 4-plex's next to each other being sold as an 8 unit apartment building. The building has a recently replace roof and many upgrades. The building features four 2bed 1bath units and four Studio units. All the units have large back yards and front yards off a paved center courtyard area Two of the 2 bed 1 bath units have fire places. The units all have vaulted ceilings and lots of natural light. There are 10 electric meters and 10 gas meters as well as 2 water meters. Each of the buildings is a mirror image of the other. There are two laundry rooms but only 1 is being used at this time and the other is on site storage. There are 4 single garages directly adjacent to the laundry rooms at the back of each building. Each buildings laundry room and 4 adjacent garages is 777 Sq. Ft and is a perfectly set up to be converted to an ADU for additional income. There are already two extra eclectic and gas meters that are used for the laundry rooms. There is also 12 surface parking spaces at the back of the property. The rents are under market and could be brought up. If the rents were increased to the Profroma market this building would be at a 6.5 Cap. With the additional rent archived from adding 2 ADU units by converting the garages and laundry rooms the building could be at a Profroma 7.8 Cap. This is an amazing opportunity for someone looking for a project on a building with great bones and huge upside potential.

Listed by Bill Larson | BRE #01373184 | First Team Real Estate
Last checked: 10 minutes ago | Last updated: October 7th, 2023 | Source CRMLS | DOM: 103

Home details

Lot Sq. Ft
17,860
HOA Dues
$0/mo
Year built
1953
Garage
8 Car
Property Type:
Mixed Use
Status
Sold
MLS#
PW23082558
City
Fullerton
County
Orange
Time on Site
346 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 8
  • Total # of Buildings: 2
  • # of Leased Units: 8
  • # of Electric Meters: 10
  • # of Gas Meters: 10
  • # of Water Meters: 2
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 0
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,200
  • Total Rent: $1,200
  • Pro Forma/Market Rent: $1,800
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,078
  • Total Rent: $2,078
  • Pro Forma/Market Rent: $2,800
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 0
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,424
  • Total Rent: $1,424
  • Pro Forma/Market Rent: $1,800
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,200
  • Total Rent: $2,200
  • Pro Forma/Market Rent: $2,800
Unit Breakdown 5
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,906
  • Total Rent: $1,906
  • Pro Forma/Market Rent: $2,800
Unit Breakdown 6
  • # of Units: 1
  • # of Beds: 0
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,424
  • Total Rent: $1,424
  • Pro Forma/Market Rent: $1,800
Unit Breakdown 7
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,846
  • Total Rent: $1,846
  • Pro Forma/Market Rent: $2,800
Unit Breakdown 8
  • # of Units: 1
  • # of Beds: 0
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,320
  • Total Rent: $1,320
  • Pro Forma/Market Rent: $1,800
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 4.2%
  • Gross Rent Multiplier: --
  • Gross Scheduled Income: $161,454
  • Net Operating Income: $104,746
  • Gross Operating Income: --
  • Garage Rental Income: $0
Annual Expense Breakdown
  • Total Operating Expense: $56,708
  • Electric: $331
  • Gas/Fuel: $254
  • New Taxes: $31,250
  • Trash: $2,400
  • Gardener: $1,440
  • Insurance: $2,500
  • Professional Management: $8,073
  • Water/Sewer: $9,600

Property Details for 1188 W Valencia Dr

Interior Features
Heating Information
  • Has Heating
  • Fireplace(s), Wall Furnace
Laundry Information
  • Has Laundry
  • Common Area, Community
Fireplace Information
  • Has Fireplace
  • Family Room
Interior Features
  • Levels: One
Exterior Features
Exterior Information
  • Roof: Asphalt
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 8
  • # of Parking Spaces: 20
Lot Information
  • Lot Features: 6-10 Units/Acre, Back Yard, Level with Street, Lot 10000-19999 Sqft, Rectangular Lot, Level
  • Lot Size Source: Assessor
  • Common Interest: None
Property Information
  • Common Walls: 2+ Common Walls
  • Total # of Units: 8
  • Parcel Number: 03136303
  • Year Built Source: Assessor
  • Entry Level: 1
  • Property is Attached
  • Has Additional Parcels
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Assessment Information
  • Has Assessments
  • Assessments: Unknown
Location / Neighborhood
Location Information
  • Subdivision Name: Via Valencia (VIAV)
  • Directions: Valencia and Euclid
Neighborhood Information
  • Community Features: Sidewalks, Storm Drains, Street Lights, Suburban
View more facts & features

Local Fullerton Agent

Sale History for 1188 W Valencia Dr

Last sold for $2,250,000 on October 6th, 2023

  • October, 2023

  • Oct 6, 2023

    Date

    Sold

    CRMLS: PW23082558

    $2,250,000

    Price

  • May 12, 2023

    Date

    Active

    CRMLS: PW23082558

    $2,500,000

    Price

  • June, 2016

  • Jun 10, 2016

    Date

    Sold (Public Records)

    Public Records

    $1,850,000

    Price

Show More

Tax History for 1188 W Valencia Dr

Assessed Value (2020): $1,001,249
Year Land Value Improved Value Assessed Value
2020 $925,735 $75,514 $1,001,249

Home Value Compared to the Market

This property vs the competition

1188 W Valencia Dr sold on October 6, 2023 for 153.81% higher than the current median sold price for the city of Fullerton which is $985,000. The median sold price per/sqft for Fullerton is $618 and this home is sold at $458.55 per/sqft which puts the price per square foot 25.8% lower than the current median sale per square foot for the city of Fullerton.

About 1188 W Valencia Dr

Detailed summary of property

1188 W Valencia Dr is a mixed use that recently sold in Fullerton, CA 92833. This mixed use property offered 8 bedrooms, 8 bathrooms, roughly 5,452 living square feet, and sits on an approximately 17,860 square foot lot. 1188 W Valencia Dr was first listed on ArdentRealEstateGroup.com on June 5, 2023. The homeowner sold the property for $2,250,000. Home in Fullerton are selling for a median price of $985,000 and a median price per square foot of $618. Based on Ardent Real Estate Group's Fullerton Market Data, this home is sold 153.81% higher than the current median priced home. Local homes that are currently for sale include 568 E Colorado Ave, 4652 Gratian St and 2503 Santa Fe Ave. While the average home in Fullerton, CA is selling in 42 days, 1188 W Valencia Dr has a days on market of 103 days. There are currently 176 homes for sale in the Fullerton real estate market and 130 of them are single family homes while 35 of them are condos and 11 are townhomes. For more information on this home for sale at 1188 W Valencia Dr Fullerton, CA 92833 contact Ardent Real Estate Group and we will put you in touch with one of our Fullerton agents.

Public Facts for 1188 W Valencia Dr

Public county record property details
Beds
--
Baths
--
Year built
1953
Sq. Ft.
2,726
Lot Size
8,758
Stories
1
Type
Quadruplex (4 Units, Any Combination)
Pool
No
Spa
No
County
Orange
Lot#
4
APN
031-363-03

The source for these homes facts are from public records.

92833 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$999,000
Median List Price/Sq.Ft.
$590
Median Sold Price
$915,000
Median Sold Price/Sq.Ft.
$618
Total Inventory
62
Median Sale to List Price %
102.82%
Avg Days on Market
15
Loan Type
Conventional (37.5%), FHA (3.13%), VA (0%), Cash (31.25%), Other (28.13%)

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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