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1501 Brea Blvd #3, Fullerton, CA 92835
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1501 Brea Blvd #3 Fullerton, CA 92835

$4,900,000 Sold Price as of 12/30/2020
  • 22 Beds
  • 22 Baths
  • 11,022 Sq.Ft.
Sold
$4,900,000 Sold Price as of 12/30/2020 Refinance Your Mortgage
Map preview of 1501 Brea Blvd #3, Fullerton, CA 92835

Property Overview: 1501 Brea Blvd #3 Fullerton, CA has 22 bedrooms, 22 bathrooms, 11,022 living square feet and 79,279 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: *** 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.

Listed by Joseph Berkson | BRE #01031951 | Marcus & Millichap RE Invest
Last checked: 9 minutes ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 102

Home details

Lot Sq. Ft
79,279
HOA Dues
$54120/mo
Year built
1992
Garage
--
Property Type:
Multi Family
Status
Sold
MLS#
OC20147841
City
Fullerton
County
Orange
Time on Site
1362 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 22
  • Total # of Buildings: 1
  • # of Leased Units: 22
  • # of Electric Meters: 22
  • # of Gas Meters: 22
  • # of Water Meters: 22
Unit Breakdown 1
  • # of Units: 22
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,552
  • Total Rent: $34,154
  • Pro Forma/Market Rent: $1,607
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 4.97%
  • Gross Rent Multiplier: 12.2
  • Gross Scheduled Income: $409,848
  • Net Operating Income: $248,388
  • Gross Operating Income: $397,553
  • Gross Spendable Income: $68,016
Annual Expense Breakdown
  • Total Operating Expense: $149,165
  • Electric: $0
  • Gas/Fuel: $0
  • Licenses: $774
  • New Taxes: $61,669
  • Trash: $0
  • Insurance: $7,900
  • Maintenance: $8,800
  • Professional Management: $15,902
  • Water/Sewer: $0
  • Other Expenses: $54,120
  • Other Expense Description: HOA Dues

Property Details for 1501 Brea Blvd #3

Interior Features
Cooling Information
  • Has Cooling
  • Central Air
Heating Information
  • Has Heating
  • Central, Forced Air
Laundry Information
  • Has Laundry
  • Community
Room Information
  • Flooring: Carpet, Tile
  • Main Floor Bedroom
Kitchen Information
  • Has Appliances
  • Disposal, Gas Range, Microwave
Interior Features
  • Balcony, Copper Plumbing Full, Elevator, Open Floorplan, Tile Counters, Trash Chute, Unfurnished
  • Levels: Three Or More
  • Window Features: Screens
  • Security Features: Automatic Gate, Card/Code Access, Closed Circuit Camera(s), Fire and Smoke Detection System, Fire Sprinkler System, Gated Community, Security System, Smoke Detector(s)
Exterior Features
Exterior Information
  • Roof: Flat, Mansard
  • Has Fence
  • Good Condition, Security, Wrought Iron
  • Has Spa
  • Spa Features: Association, Heated, In Ground
Exterior Features
  • No Pool
  • Pool Features: Association, Filtered, In Ground
Lot Details / Garage and Parking
Parking/Garage Information
  • No
  • Parking Features: None
Lot Information
  • Lot Features: Irregular Lot, Yard
  • Common Interest: Community Apartment
Property Information
  • Has View
  • View: Hills, Park/Greenbelt
  • Common Walls: 2+ Common Walls
  • Total # of Units: 22
  • Parcel Number: 93640200
  • Year Built Source: Public Records
  • Architectural Style: Cape Cod
  • Foundation Details: Raised, Slab
  • Property is Attached
  • Accessibility Features: No Interior Steps
  • Has Additional Parcels
  • Is a Senior Community
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Part of Association
  • Association Fee: $54,120 (Monthly)
  • Association Amenities: Pool, Spa/Hot Tub, Barbecue, Gym/Ex Room, Billiard Room, Card Room, Banquet Facilities, Meeting Room, Cable TV, Maintenance Grounds, Trash, Controlled Access
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
  • Utilities: Cable Connected, Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
Location / Neighborhood
Location Information
  • Subdivision Name: Other (OTHR)
  • Other Subdivision Name: Hillcrest Senior Condominiums
  • Directions: North on Harbor to Brea Boulevard.
  • Road Frontage Type: City Street
  • Road Surface Type: Paved
Neighborhood Information
  • Community Features: Foothills, Golf, Hiking, Park, Sidewalks, Suburban
View more facts & features

Local Fullerton Agent

Sale History for 1501 Brea Blvd #3

Last sold for $4,900,000 on December 30th, 2020

  • January, 2021

  • Jan 1, 2021

    Date

    Sold

    CRMLS: OC20147841

    $4,900,000

    Price

  • Dec 9, 2020

    Date

    Active Under Contract

    CRMLS: OC20147841

    $5,000,000

    Price

  • Aug 27, 2020

    Date

    Active

    CRMLS: OC20147841

    $5,000,000

    Price

  • October, 2003

  • Oct 1, 2003

    Date

    Sold (Public Records)

    Public Records

    --

    Price

Show More

Tax History for 1501 Brea Blvd #3

Assessed Value (2020): $141,686
Year Land Value Improved Value Assessed Value
2020 $60,116 $81,570 $141,686

Home Value Compared to the Market

This property vs the competition

1501 Brea Blvd #3 sold on December 30, 2020 for 407.61% 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 $453.64 per/sqft which puts the price per square foot 26.6% lower than the current median sale per square foot for the city of Fullerton.

About 1501 Brea Blvd #3

Detailed summary of property

1501 Brea Blvd #3 is a multi family that recently sold in Fullerton, CA 92835. This multi family property offered 22 bedrooms, 22 bathrooms, roughly 11,022 living square feet, and sits on an approximately 79,279 square foot lot. 1501 Brea Blvd #3 was first listed on ArdentRealEstateGroup.com on August 27, 2020. The homeowner sold the property for $4,900,000. 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 407.61% higher than the current median priced home. Local homes that are currently for sale include 1809 West Bay Ave, 1809 W Bay Ave and 728 Cerritos Ave. This home does have a Homeowners Association and the monthly fee is $54,120 per month. While the average home in Fullerton, CA is selling in 43 days, 1501 Brea Blvd #3 has a days on market of 102 days. There are currently 174 homes for sale in the Fullerton real estate market and 132 of them are single family homes while 33 of them are condos and 9 are townhomes. For more information on this home for sale at 1501 Brea Blvd #3 Fullerton, CA 92835 contact Ardent Real Estate Group and we will put you in touch with one of our Fullerton agents.

Public Facts for 1501 Brea Blvd #3

Public county record property details
Beds
1
Baths
1
Year built
1992
Sq. Ft.
501
Lot Size
--
Stories
--
Type
Condominium Unit (Residential)
Pool
No
Spa
No
County
Orange
Lot#
1
APN
936-402-00

The source for these homes facts are from public records.

92835 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$1,259,888
Median List Price/Sq.Ft.
$587
Median Sold Price
$1,150,000
Median Sold Price/Sq.Ft.
$593
Total Inventory
44
Median Sale to List Price %
97.39%
Avg Days on Market
19
Loan Type
Conventional (54.55%), FHA (9.09%), VA (0%), Cash (18.18%), Other (9.09%)

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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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