1522 W Almond Ave, Orange, CA 92868
Image 2 for 1522 W Almond Ave, Orange, CA 92868
Image 3 for 1522 W Almond Ave, Orange, CA 92868
View Photos

1522 W Almond Ave Orange, CA 92868

$30,000,000 Sold Price as of 09/29/2023
  • 156 Beds
  • 114 Baths
  • 73,920 Sq.Ft.
Sold
$30,000,000 Sold Price as of 09/29/2023 Refinance Your Mortgage

Map preview of 1522 W Almond Ave, Orange, CA 92868

Property Overview: 1522 W Almond Ave Orange, CA has 156 bedrooms, 114 bathrooms, 73,920 living square feet and 110,206 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: Orange Grove Apartments is a 10-property, 78-unit multifamily investment property located in Orange, CA. Orange Grove Apartments includes: 1522 West Almond Avenue, 1610 West Almond Avenue, 220 South McCoy Road, 221 South McCoy Road, 230 South McCoy Road, 231 South McCoy Road, 254 South McCoy Road, 255 South McCoy Road, 264 South McCoy Road, and 265 South McCoy Road. Orange Grove Apartments offers 6, 2 bed/1 bath units and 72, 2 bed/1.5 bath townhome units. The property features highly desirable amenities including private patios, ample garage parking, and in-unit laundry machines. Current ownership has invested significant capital into improvements at the property to provide a luxury living experience for its residents. 50 of the 78 units have been renovated with high-quality finishes and upgrades including new appliances, plumbing fixtures, flooring, cabinetry, paint, and more. Orange Grove Apartments is situated within walking distance of Chapman Avenue, the bustling thoroughfare that grants residents convenient access to everyday needs. Additionally, the property is within 1 mile of Old Towne Orange, placing residents moments from a plethora of eclectic retail, dining, and entertainment options. Orange Grove Apartments is also located just over 1 mile from the Platinum Triangle, which is home to some of Orange County’s most popular destinations, including Angel Stadium and The Honda Center. The property is also just over 1 mile from The Outlets at Orange, providing residents an easy commute to numerous retail amenities. Furthermore, Orange Grove Apartments benefits from its close proximity to the Interstate 5 and State Route 22 Interchange, connecting residents to employment hubs throughout Orange and Los Angeles Counties. Given the property’s fantastic location and its high-quality upgrades, Orange Grove Apartments is well suited to provide investors with strong returns and value appreciation over the long-term investment horizon.

Listed by Tyler Leeson | BRE #01451551 | Marcus & Millichap RE Invest
Last checked: 12 minutes ago | Last updated: September 30th, 2023 | Source CRMLS | DOM: 63

Home details

Lot Sq. Ft
110,206
HOA Dues
$0/mo
Year built
1957
Garage
--
Property Type:
Apartment
Status
Sold
MLS#
OC23099544
City
Orange
County
Orange
Time on Site
332 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 78
  • Total # of Buildings: 14
  • # of Leased Units: 78
  • # of Electric Meters: 78
  • # of Gas Meters: 78
  • # of Water Meters: 0
Unit Breakdown 1
  • # of Units: 4
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $9,750
  • Total Rent: $9,750
  • Pro Forma/Market Rent: $10,800
Unit Breakdown 2
  • # of Units: 2
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $4,874
  • Total Rent: $4,874
  • Pro Forma/Market Rent: $5,400
Unit Breakdown 3
  • # of Units: 46
  • # of Beds: 2
  • # of Baths: 2
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $123,050
  • Total Rent: $123,050
  • Pro Forma/Market Rent: $128,800
Unit Breakdown 4
  • # of Units: 26
  • # of Beds: 2
  • # of Baths: 2
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $56,033
  • Total Rent: $56,033
  • Pro Forma/Market Rent: $72,800
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: --
  • Gross Scheduled Income: $2,324,479
  • Net Operating Income: $1,567,747
  • Gross Operating Income: $2,296,734
  • Vacancy Allowance: $69,734
  • Other Income 1: $41,989
  • Other Income Description: Pet, Parking, & RUBS
Annual Expense Breakdown
  • Total Operating Expense: $728,987
  • Electric: $18,078
  • Gas/Fuel: $18,078
  • New Taxes: $348,622
  • Trash: $18,078
  • Insurance: $35,100
  • Maintenance: $39,000
  • Professional Management: $68,902
  • Water/Sewer: $18,078
  • Other Expenses: $165,051
  • Other Expense Description: Misc

Property Details for 1522 W Almond Ave

Interior Features
Laundry Information
  • Has Laundry
  • Dryer Included, Washer Included
Interior Features
  • Levels: Two
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Lot Information
  • Lot Features: Landscaped, Level with Street
  • Lot Size Source: Assessor
  • Common Interest: Community Apartment
Property Information
  • Common Walls: No Common Walls
  • Total # of Units: 78
  • Parcel Number: 39026301
  • Year Built Source: Assessor
  • Entry Level: 1
  • Property is not Attached
  • Has Additional Parcels
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Assessment Information
  • Has Assessments
  • Assessments: Special Assessments
Location / Neighborhood
Location Information
  • Directions: Off of Main Street at the intersection of West Almond Avenue & South McCoy Road
Neighborhood Information
  • Community Features: Curbs, Sidewalks
View more facts & features

Local Orange Agent

Loading...

Sale History for 1522 W Almond Ave

Last sold for $30,000,000 on September 29th, 2023
  • September, 2023

  • Sep 29, 2023

    Date

    Sold

    CRMLS: OC23099544

    $30,000,000

    Price

  • Jun 6, 2023

    Date

    Active

    CRMLS: OC23099544

    $33,000,000

    Price

  • November, 2003

  • Nov 21, 2003

    Date

    Sold (Public Records)

    Public Records

    --

    Price

Show More

Tax History for 1522 W Almond Ave

Assessed Value (2020): $894,289
Year Land Value Improved Value Assessed Value
2020 $512,723 $381,566 $894,289

Home Value Compared to the Market

This property vs the competition

1522 W Almond Ave sold on September 29, 2023 for 3042.86% higher than the current median sold price for the city of Orange which is $1,050,000. The median sold price per/sqft for Orange is $611 and this home is sold at $446.43 per/sqft which puts the price per square foot 26.93% lower than the current median sale per square foot for the city of Orange.

About 1522 W Almond Ave

Detailed summary of property

1522 W Almond Ave is a apartment that recently sold in Orange, CA 92868. This apartment offered 156 bedrooms, 114 bathrooms, roughly 73,920 living square feet, and sits on an approximately 110,206 square foot lot. 1522 W Almond Ave was first listed on ArdentRealEstateGroup.com on June 6, 2023. The homeowner sold the property for $30,000,000. Home in Orange are selling for a median price of $1,050,000 and a median price per square foot of $611. Based on Ardent Real Estate Group's Orange Market Data, this home is sold 3042.86% higher than the current median priced home. While the average home in Orange, CA is selling in 44 days, 1522 W Almond Ave has a days on market of 63 days. There are currently 156 homes for sale in the Orange real estate market and 119 of them are single family homes while 30 of them are condos and 7 are townhomes. For more information on this home for sale at 1522 W Almond Ave Orange, CA 92868 contact Ardent Real Estate Group and we will put you in touch with one of our Orange agents.

Public Facts for 1522 W Almond Ave

Public county record property details
Beds
--
Baths
--
Year built
1957
Sq. Ft.
5,676
Lot Size
15,366
Stories
2
Type
Apartments (Generic)
Pool
No
Spa
No
County
Orange
Lot#
1
APN
390-263-01

The source for these homes facts are from public records.

92868 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$779,900
Median List Price/Sq.Ft.
$591
Median Sold Price
$920,000
Median Sold Price/Sq.Ft.
$568
Total Inventory
10
Median Sale to List Price %
101.1%
Avg Days on Market
33
Loan Type
Conventional (28.57%), FHA (14.29%), VA (14.29%), Cash (42.86%), Other (0%)

Thinking of Selling?


Image Description
Is this your property?
Thinking of Selling?

Call, Text or Message

Homes for Sale Near 1522 W Almond Ave

Nearby Homes for Sale

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.