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133 S Melrose St, Placentia, CA 92870
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133 S Melrose St Placentia, CA 92870

$3,999,000
  • 19 Beds
  • 14 Baths
  • 9,200 Sq.Ft.
For Sale
$3,999,000 Get Pre-Qualified
Map preview of 133 S Melrose St, Placentia, CA 92870

Property Overview: 133 S Melrose St Placentia, CA has 19 bedrooms, 14 bathrooms, 9,200 living square feet and 22,651 square feet lot size. Call an Ardent Real Estate Group agent to verify current availability of this home or with any questions you may have.

Agent Remarks: This 11 unit, 5%+ Current CAP, well-located, recently renovated property with immense tenant and curb appeal next to Cal State University Fullerton. Each of the 11-Units has had recent interior renovations ranging from new flooring, new quartz counter tops and refaced cabinets, new lighting, new kitchen and bathroom sinks, new bathroom vanities, new stovetop ovens and hoods, new paint, and some of the units were taken down to the studs. The exterior also had a recent significant renovation completed, including new roofs, new stucco, a new pavilion and BBQ area, new courtyard concrete, new landscaping, newly paved parking lot, some new fencing and paint, new tenant garden boxes, new washers and dryers, and new wall air conditioning. The property offers an excellent unit mix and range of floorplans with no tuck under parking. These 11 units are conveniently located three minutes from the 57 and five minutes from the 91 freeways, allowing tenants easy access to the greater California region and beyond. There are several retail centers next to the property, including Sam’s Club, Home Depot, Smart & Final Extra, and Concentra Urgent Care. There are great schools within a couple miles of the property, including Kraemer Middle school, Valencia Highschool, Hope International University, Call State Fullerton, Saint Joseph Catholic school, Ruby Drive Elementary School, and Troy Highschool.

Listed by Mark Bridge | BRE #01316702 | Mark Bridge, Broker
Last checked: 16 minutes ago | Last updated: May 7th, 2024 | Source CRMLS | DOM: 10
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Home details

Lot Sq. Ft
22,651
HOA Dues
$0/mo
Year built
1921
Garage
--
Property Type:
Mixed Use
Status
Active
MLS#
OC24042733
City
Placentia
County
Orange
Time on Site
11 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 11
  • Total # of Buildings: 4
  • # of Leased Units: 11
  • # of Electric Meters: 12
  • # of Gas Meters: 12
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 2
  • # of Beds: 2
  • # of Baths: 2
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,513
  • Total Rent: $5,025
  • Pro Forma/Market Rent: $5,500
Unit Breakdown 2
  • # of Units: 4
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,138
  • Total Rent: $8,550
  • Pro Forma/Market Rent: $9,000
Unit Breakdown 3
  • # of Units: 4
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,205
  • Total Rent: $8,820
  • Pro Forma/Market Rent: $10,000
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 2
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $3,200
  • Total Rent: $3,200
  • Pro Forma/Market Rent: $3,300
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 5.21%
  • Gross Rent Multiplier: 13.02
  • Gross Scheduled Income: $307,140
  • Net Operating Income: $208,163
  • Gross Operating Income: $297,926
  • Vacancy Allowance: $9,214
  • Other Income 1: $1,200
  • Other Income Description: Parking
Annual Expense Breakdown
  • Total Operating Expense: $90,963
  • Electric: $132
  • Gas/Fuel: $0
  • New Taxes: $43,589
  • Trash: $5,734
  • Gardener: $1,800
  • Insurance: $6,914
  • Maintenance: $5,500
  • Professional Management: $9,214
  • Water/Sewer: $10,308
  • Other Expenses: $4,260
  • Other Expense Description: Misc

Open Houses for 133 S Melrose St

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Property Details for 133 S Melrose St

Interior Features
Cooling Information
  • Has Cooling
  • Wall/Window Unit(s)
Heating Information
  • Has Heating
  • Natural Gas
Laundry Information
  • Has Laundry
  • Gas Dryer Hookup, Washer Hookup
Fireplace Information
  • No Fireplace
  • None
Room Information
  • Flooring: Vinyl
Kitchen Information
  • Has Appliances
  • Dishwasher, Disposal, Gas Oven, Gas Range, Gas Water Heater, Water Heater
Interior Features
  • Ceiling Fan(s), Quartz Counters
  • Levels: Two
Exterior Features
Exterior Information
  • Roof: Composition, Shingle
  • Lighting
  • Has Fence
  • Wrought Iron
  • No Spa
  • Spa Features: None
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 15
  • Has Parking
  • Parking Features: Assigned
Lot Information
  • Lot Features: 11-15 Units/Acre
  • Lot Size Source: Assessor
  • Common Interest: None
Property Information
  • Common Walls: 1 Common Wall
  • Total # of Units: 11
  • Parcel Number: 33935311
  • Year Built Source: Assessor
  • Entry Level: 1
  • Property is Attached
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
  • Utilities: Cable Available, Electricity Connected, Natural Gas Connected, Phone Connected, Sewer Connected, Water Connected
Location / Neighborhood
Location Information
  • Subdivision Name: Other (OTHR)
  • Other Subdivision Name: other
  • Directions: CA 57 N, exit at Chapman Ave, then right onto S Melrose St
Neighborhood Information
  • Community Features: Curbs, Sidewalks, Storm Drains, Street Lights
View more facts & features

Local Placentia Agent

Sale History for 133 S Melrose St

Last sold for $2,975,000 on October 28th, 2021

  • April, 2024

  • Apr 26, 2024

    Date

    Active

    CRMLS: OC24042733

    $4,080,000

    Price

  • June, 2023

  • Jun 14, 2023

    Date

    Canceled

    CRMLS: OC23065724

    $4,350,000

    Price

  • Apr 27, 2023

    Date

    Active

    CRMLS: OC23065724

    $4,400,000

    Price

  • Listing provided courtesy of CRMLS

    This offering allows an investor to acquire a well-located, recently renovated, turnkey investment with immense tenant and curb appeal next to Cal State University Fullerton. Each of the 11-Units has had recent interior renovations ranging from new flooring, new quartz counter tops and refaced cabinets, new lighting, new kitchen and bathroom sinks, new bathroom vanities, new stovetop ovens and hoods, new paint, and some of the units were taken down to the studs. The exterior also had a recent significant renovation completed, including new roofs, new stucco, a new pavilion and BBQ area, new courtyard concrete, new landscaping, newly paved parking lot, some new fencing and paint, new tenant garden boxes, new washers and dryers, and new wall air conditioning. The property offers an excellent unit mix and range of floorplans with no tuck under parking. These 11 units are conveniently located close to the 57 and 91 freeways, allowing tenants easy access to the greater California region and beyond. There are several retail centers next to the property, including Sam’s Club, Home Depot, Smart & Final Extra, and Concentra Urgent Care. There are great schools within a couple miles of the property, including Kraemer Middle school, Valencia Highschool, Hope International University, Call State Fullerton, Saint Joseph Catholic school, Ruby Drive Elementary School, and Troy Highschool.

  • October, 2021

  • Oct 28, 2021

    Date

    Sold

    CRMLS: PW21193714

    $2,975,000

    Price

  • Sep 6, 2021

    Date

    Active Under Contract

    CRMLS: PW21193714

    $2,800,000

    Price

  • Sep 1, 2021

    Date

    Active

    CRMLS: PW21193714

    $2,800,000

    Price

  • Listing provided courtesy of CRMLS

    HAVE YOU BEEN LOOKING FOR THE PERFECT INVESTMENT PROPERTY FOR YOUR PORTFOLIO BUT HAVE BEEN COMING UP SHORT? This is the property that you have been looking for! UPSIDE POTENTIAL! This property is looking for the right investor / developer who wants to create and build more revenue sources of opportunity. This 22,681 square foot lot property in North Orange County has not been on the market for sale for many years. Currently, this property offers 8,718 square feet of living space which includes 5 two bedroom units with an average size of 1,000 square feet and 6 one bedroom rental units with an average square feet of 650 square feet that are housed within four apartment buildings. Private and safe tenant parking is on the property as well as an additional also vacant lot that can be used to enhance the property value. Let your creative ideas begin as you work towards increasing your current revenue opportunities while developing new sources of income as well. With long term tenants, partially renovated units, and opportunities for future renovations, this property is waiting for someone to help it reach its true potential. Located in Placentia, California and close to great schools, parks, entertainment, and shopping, this investment opportunity is one of a kind. Located near Cal State Fullerton and downtown Placentia, this wonderful property is easily accessible to multiple freeways, is in the heart of North Orange County, and near great property development projects and city funded projects. This is where you want to own your next investment opportunity.

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Tax History for 133 S Melrose St

Assessed Value (2020): $402,646
Year Land Value Improved Value Assessed Value
2020 $201,323 $201,323 $402,646

Home Value Compared to the Market

This property vs the competition

133 S Melrose St is listed 321.39% higher than the median list price for the city of Placentia which has a median list price of $949,000. The median price per/sqft for Placentia is $568 and this home is listed at $434.67 per/sqft which puts the price per square foot 23.47% lower than the median price per square foot for the city of Placentia.

About 133 S Melrose St

Detailed summary of property

133 S Melrose St is a mixed use located in Placentia, CA 92870 and is currently for sale. This mixed use property offers 19 bedrooms, 14 bathrooms, roughly 9,200 living square feet, and sits on an approximately 22,651 square foot lot. 133 S Melrose St was first listed on ArdentRealEstateGroup.com on April 26, 2024. The homeowner is currently asking $3,999,000 and was originally asking $4,080,000. The median priced home in Placentia is $949,000 with a median price per square foot of $568. Based on Ardent Real Estate Group's Placentia Market Data, this home is listed 321.39% higher than the median priced home. Local competing homes currently for sale include 1049 E 5th St, 736-744 Olive Ave and 278 N 11th Ave. While the average home in Placentia, CA is selling in 36 days, 133 S Melrose St has a days on market of 10 days. There are currently 68 homes for sale in the Placentia real estate market and 47 of them are single family homes while 20 of them are condos and 1 are townhomes. For more information on this home for sale at 133 S Melrose St Placentia, CA 92870 contact Ardent Real Estate Group and we will put you in touch with one of our Placentia agents.

Public Facts for 133 S Melrose St

Public county record property details
Beds
--
Baths
--
Year built
1921
Sq. Ft.
8,720
Lot Size
22,630
Stories
2
Type
Apartments (Generic)
Pool
No
Spa
No
County
Orange
Lot#
26
APN
339-353-11

The source for these homes facts are from public records.

92870 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$949,000
Median List Price/Sq.Ft.
$568
Median Sold Price
$991,000
Median Sold Price/Sq.Ft.
$569
Total Inventory
68
Median Sale to List Price %
103.77%
Avg Days on Market
20
Loan Type
Conventional (46.88%), FHA (9.38%), VA (3.13%), Cash (25%), Other (15.63%)

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Placentia Agent
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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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