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15601 Tustin Village Way, Tustin, CA 92780
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15601 Tustin Village Way Tustin, CA 92780

$20,100,000 Sold Price as of 12/03/2021
  • 82 Beds
  • 82 Baths
  • 54,864 Sq.Ft.
Sold
$20,100,000 Sold Price as of 12/03/2021 Refinance Your Mortgage
Map preview of 15601 Tustin Village Way, Tustin, CA 92780

Property Overview: 15601 Tustin Village Way Tustin, CA has 82 bedrooms, 82 bathrooms, 54,864 living square feet and 68,389 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: Holiday Garden Apartments is a 58-unit multifamily investment property located at 15601 Tustin Village Way, Tustin, CA. This is a unique and rare opportunity to acquire a 50+ unit asset in Tustin, a submarket with limited historical transactional velocity. Holiday Garden Apartments offers 54,864 net rentable square feet and features an attractive unit mix of 34, one-bedroom units and 24, two-bedroom units. The property offers a fantastic amenity package including controlled access, uncovered, tuck-under, and carport parking, on-site laundry, and a sparkling swimming pool. Unit amenities include modern finishes with smooth ceilings, private patios and balconies, recessed lighting, hardwood and tile flooring, air conditioning, and ceiling fans. Holiday Garden Apartments sits in a quiet area, nestled in an established family neighborhood. The property is situated in close proximity to Interstate 5 and State Route 55, providing residents with convenient access to employment hubs throughout Orange County. Additionally, Fourth Street Santa Ana, The Market Place, and The District at Tustin Legacy are all located within a 3-mile radius of the property.

Listed by Tyler Leeson | BRE #01451551 | Marcus & Millichap RE Invest
Co-listed by Neema Ahadian | BRE #01346750 | Marcus & Millichap
Last checked: 2 minutes ago | Last updated: March 23rd, 2022 | Source CRMLS | DOM: 16

Home details

Lot Sq. Ft
68,389
HOA Dues
$0/mo
Year built
1967
Garage
--
Property Type:
Multi Family
Status
Sold
MLS#
OC21203705
City
Tustin
County
Orange
Time on Site
958 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 58
  • Total # of Buildings: 1
  • # of Leased Units: 58
  • # of Electric Meters: 58
  • # of Gas Meters: 58
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 34
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $56,285
  • Total Rent: $56,285
  • Pro Forma/Market Rent: $64,430
Unit Breakdown 2
  • # of Units: 24
  • # of Beds: 2
  • # of Baths: 2
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $50,684
  • Total Rent: $50,684
  • Pro Forma/Market Rent: $59,880
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: --
  • Gross Scheduled Income: $1,283,625
  • Net Operating Income: $741,199
  • Gross Operating Income: $1,263,922
  • Vacancy Allowance: $38,509
  • Other Income 1: $18,806
  • Other Income Description: Miscellaneous
Annual Expense Breakdown
  • Total Operating Expense: $522,723
  • Electric: $16,197
  • Gas/Fuel: $16,197
  • New Taxes: $214,904
  • Trash: $16,197
  • Insurance: $28,810
  • Maintenance: $29,000
  • Professional Management: $44,237
  • Water/Sewer: $16,199
  • Other Expenses: $140,982
  • Other Expense Description: Misc

Property Details for 15601 Tustin Village Way

Interior Features
Laundry Information
  • Has Laundry
  • Community
Interior Features
  • Levels: Two
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: Community
Lot Details / Garage and Parking
Lot Information
  • Lot Features: Landscaped, Level
  • Lot Size Source: Assessor
  • Common Interest: Community Apartment
Property Information
  • Common Walls: No Common Walls
  • Total # of Units: 58
  • Parcel Number: 40229108
  • Year Built Source: Assessor
  • Property is not Attached
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Location / Neighborhood
Location Information
  • Directions: Nearby Cross Streets: Alliance Avenue & Tustin Village Way
Neighborhood Information
  • Community Features: Curbs, Sidewalks
View more facts & features

Local Tustin Agent

Sale History for 15601 Tustin Village Way

Last sold for $20,100,000 on December 3rd, 2021

  • September, 2021

  • Sep 15, 2021

    Date

    Active

    CRMLS: OC21203705

    $20,000,000

    Price

  • April, 2005

  • Apr 7, 2005

    Date

    Sold (Public Records)

    Public Records

    --

    Price

  • May, 2004

  • May 18, 2004

    Date

    Sold (Public Records)

    Public Records

    --

    Price

Show More

Tax History for 15601 Tustin Village Way

Assessed Value (2020): $10,172,912
Year Land Value Improved Value Assessed Value
2020 $4,884,369 $5,288,543 $10,172,912

Home Value Compared to the Market

This property vs the competition

15601 Tustin Village Way sold on December 3, 2021 for 2073.91% higher than the current median sold price for the city of Tustin which is $920,000. The median sold price per/sqft for Tustin is $650 and this home is sold at $364.54 per/sqft which puts the price per square foot 43.92% lower than the current median sale per square foot for the city of Tustin.

About 15601 Tustin Village Way

Detailed summary of property

15601 Tustin Village Way is a multi family that recently sold in Tustin, CA 92780. This multi family property offered 82 bedrooms, 82 bathrooms, roughly 54,864 living square feet, and sits on an approximately 68,389 square foot lot. 15601 Tustin Village Way was first listed on ArdentRealEstateGroup.com on September 16, 2021. The homeowner sold the property for $20,100,000. Home in Tustin are selling for a median price of $920,000 and a median price per square foot of $650. Based on Ardent Real Estate Group's Tustin Market Data, this home is sold 2073.91% higher than the current median priced home. While the average home in Tustin, CA is selling in 22 days, 15601 Tustin Village Way has a days on market of 16 days. There are currently 75 homes for sale in the Tustin real estate market and 33 of them are single family homes while 28 of them are condos and 14 are townhomes. For more information on this home for sale at 15601 Tustin Village Way Tustin, CA 92780 contact Ardent Real Estate Group and we will put you in touch with one of our Tustin agents.

Public Facts for 15601 Tustin Village Way

Public county record property details
Beds
--
Baths
--
Year built
1967
Sq. Ft.
54,864
Lot Size
68,389
Stories
2
Type
Apartments (Generic)
Pool
No
Spa
No
County
Orange
Lot#
18
APN
402-291-08

The source for these homes facts are from public records.

92780 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$780,000
Median List Price/Sq.Ft.
$593
Median Sold Price
$795,000
Median Sold Price/Sq.Ft.
$616
Total Inventory
40
Median Sale to List Price %
100%
Avg Days on Market
22
Loan Type
Conventional (44%), FHA (4%), VA (0%), Cash (36%), Other (16%)

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Homes for Sale Near 15601 Tustin Village Way

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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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