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15981 S Myrtle Ave, Tustin, CA 92780
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15981 S Myrtle Ave Tustin, CA 92780

$5,300,000 Sold Price as of 08/19/2019
  • 36 Beds
  • 23 Baths
  • 17,678 Sq.Ft.
Sold
$5,300,000 Sold Price as of 08/19/2019 Refinance Your Mortgage
Map preview of 15981 S Myrtle Ave, Tustin, CA 92780

Property Overview: 15981 S Myrtle Ave Tustin, CA has 36 bedrooms, 23 bathrooms, 17,678 living square feet and 31,941 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: The Myrtle Avenue Apartment Homes is a Pride of Ownership, 16 unit multi-family investment property located in the strong rental market of Tustin, California within the Greater Orange County area. The property has a desirable unit mix consisting of (9) two bedroom/ one bathroom units, (1) two bedroom/ one and one half bathrooms units, (2) two bedroom/ two bathroom, and (4) three bedroom/ two bathroom units totaling 17,678 square feet situated on a 31,941 square foot lot. Built in 1964, the property offers amenities including on-site laundry facilities, private patios, balconies, and enclosed garages. The property has recently gone through extensive interior and exterior renovations. This offering represents a rare opportunity for an investor to acquire a Pride of Ownership, stable investment in the desirable rental market of Tustin. The location offers high visibility in an area known for its strong tenancy, good rent growth, and a historically high occupancy rate.

Listed by Greg Bassirpou | BRE #01365951 | Marcus & Millichap RE Invest
Last checked: 14 minutes ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 96

Home details

Lot Sq. Ft
31,941
HOA Dues
$0/mo
Year built
1964
Garage
12 Car
Property Type:
Multi Family
Status
Sold
MLS#
OC19068032
City
Tustin
County
Orange
Time on Site
1397 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 16
  • Total # of Buildings: 4
  • # of Electric Meters: 16
  • # of Gas Meters: 16
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 9
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $15,735
  • Total Rent: $15,735
  • Pro Forma/Market Rent: $17,100
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 2
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,685
  • Total Rent: $1,685
  • Pro Forma/Market Rent: $2,000
Unit Breakdown 3
  • # of Units: 2
  • # of Beds: 2
  • # of Baths: 2
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $4,010
  • Total Rent: $4,010
  • Pro Forma/Market Rent: $4,200
Unit Breakdown 4
  • # of Units: 4
  • # of Beds: 3
  • # of Baths: 2
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $7,980
  • Total Rent: $7,980
  • Pro Forma/Market Rent: $8,800
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: --
  • Gross Scheduled Income: $352,920
  • Net Operating Income: $243,050
  • Gross Operating Income: --
  • Other Income 1: $7,800
Annual Expense Breakdown
  • Total Operating Expense: $106,848
  • Electric: $5,000
  • Gas/Fuel: $5,000
  • New Taxes: $60,000
  • Trash: $5,000
  • Gardener: $2,400
  • Insurance: $5,948
  • Professional Management: $0
  • Water/Sewer: $5,000

Property Details for 15981 S Myrtle Ave

Interior Features
Laundry Information
  • Has Laundry
  • Community
Interior Features
  • Levels: Two
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 12
  • # of Parking Spaces: 16
  • Parking Features: Driveway, Garage, On Site, Street
Lot Information
  • Lot Features: Landscaped, Near Public Transit
Property Information
  • Common Walls: No Common Walls
  • Total # of Units: 16
  • Parcel Number: 40213306
  • Year Built Source: Public Records
  • Property is not Attached
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Location / Neighborhood
Location Information
  • Directions: Please do not disturb tenants. Make all offers subject to inspection.
Neighborhood Information
  • Community Features: Sidewalks, Storm Drains, Street Lights
View more facts & features

Local Tustin Agent

Sale History for 15981 S Myrtle Ave

Last sold for $5,300,000 on August 19th, 2019

  • August, 2019

  • Aug 20, 2019

    Date

    Sold

    CRMLS: OC19068032

    $5,300,000

    Price

  • Jul 2, 2019

    Date

    Pending

    CRMLS: OC19068032

    $5,400,000

    Price

  • May 15, 2019

    Date

    Price Change

    CRMLS: OC19068032

    $5,400,000

    Price

  • Mar 27, 2019

    Date

    Active

    CRMLS: OC19068032

    $5,450,000

    Price

  • January, 2019

  • Jan 23, 2019

    Date

    Canceled

    CRMLS: OC18167148

    $1,790

    Price

  • Sep 3, 2018

    Date

    Withdrawn

    CRMLS: OC18167148

    $1,790

    Price

  • Aug 24, 2018

    Date

    Price Change

    CRMLS: OC18167148

    $1,790

    Price

  • Aug 5, 2018

    Date

    Active

    CRMLS: OC18167148

    $2,050

    Price

  • Listing provided courtesy of CRMLS

    Newly renovated 2 bed/2bath on 2nd floor. 950 sf. with a detached garage Air conditioninig Beautiful Balcony communal laundry facility. New Kitchen Fresh paint, New wood floor, New bathrooms. New recess lighting.

  • January, 2018

  • Jan 25, 2018

    Date

    Sold

    CRMLS: OC17232015

    $4,500,000

    Price

  • Nov 2, 2017

    Date

    Pending

    CRMLS: OC17232015

    $4,800,000

    Price

  • Oct 11, 2017

    Date

    Active Under Contract

    CRMLS: OC17232015

    $4,800,000

    Price

  • Oct 9, 2017

    Date

    Active

    CRMLS: OC17232015

    $4,800,000

    Price

  • Listing provided courtesy of CRMLS

    South Myrtle Apartment Homes is a 16-unit multifamily investment property centrally located in the city of Tustin, California. Situated on a 0.73-acre lot, the 17,648 square foot property consists of two-bedroom and three-bedroom floor plans averaging 1,100 square feet. Built in 1964, the property offers amenities including on-site laundry, private patios, balconies, and garage parking.

  • January, 2018

  • Jan 25, 2018

    Date

    Sold (Public Records)

    Public Records

    $4,500,000

    Price

  • November, 2004

  • Nov 30, 2004

    Date

    Sold (Public Records)

    Public Records

    $2,800,000

    Price

Show More

Tax History for 15981 S Myrtle Ave

Assessed Value (2020): $5,300,000
Year Land Value Improved Value Assessed Value
2020 $4,500,000 $800,000 $5,300,000

Home Value Compared to the Market

This property vs the competition

15981 S Myrtle Ave sold on August 19, 2019 for 367.53% higher than the current median sold price for the city of Tustin which is $1,155,000. The median sold price per/sqft for Tustin is $649 and this home is sold at $305.46 per/sqft which puts the price per square foot 52.93% lower than the current median sale per square foot for the city of Tustin.

About 15981 S Myrtle Ave

Detailed summary of property

15981 S Myrtle Ave is a multi family that recently sold in Tustin, CA 92780. This multi family property offered 36 bedrooms, 23 bathrooms, roughly 17,678 living square feet, and sits on an approximately 31,941 square foot lot. 15981 S Myrtle Ave was first listed on ArdentRealEstateGroup.com on July 21, 2020. The homeowner sold the property for $5,300,000. Home in Tustin are selling for a median price of $1,155,000 and a median price per square foot of $649. Based on Ardent Real Estate Group's Tustin Market Data, this home is sold 367.53% higher than the current median priced home. Local homes that are currently for sale include 1809 West Bay Ave, 1809 W Bay Ave and 111 39th St. While the average home in Tustin, CA is selling in 23 days, 15981 S Myrtle Ave has a days on market of 96 days. There are currently 91 homes for sale in the Tustin real estate market and 44 of them are single family homes while 31 of them are condos and 16 are townhomes. For more information on this home for sale at 15981 S Myrtle Ave Tustin, CA 92780 contact Ardent Real Estate Group and we will put you in touch with one of our Tustin agents.

Public Facts for 15981 S Myrtle Ave

Public county record property details
Beds
--
Baths
--
Year built
1964
Sq. Ft.
17,678
Lot Size
31,941
Stories
2
Type
Apartments (Generic)
Pool
No
Spa
No
County
Orange
Lot#
7
APN
402-133-06

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
$999,000
Median List Price/Sq.Ft.
$593
Median Sold Price
$1,200,000
Median Sold Price/Sq.Ft.
$624
Total Inventory
50
Median Sale to List Price %
101.27%
Avg Days on Market
16
Loan Type
Conventional (57.14%), FHA (9.52%), VA (0%), Cash (14.29%), Other (19.05%)

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Recently Sold Homes Near 15981 S Myrtle Ave

15825 S Myrtle Ave, Tustin, CA 92780
$1,395,000 Last Sold Price
7 Beds
5 Baths
3130 Sq.Ft.
15825 S Myrtle Ave
Tustin, CA 92780
17062 Altadena Dr, Tustin, CA 92780
$4,400,000 Last Sold Price
31 Beds
17 Baths
15184 Sq.Ft.
17062 Altadena Dr
Tustin, CA 92780
14642 Del Amo Ave Ave, Tustin, CA 92780
$1,227,000 Last Sold Price
9 Beds
8 Baths
4699 Sq.Ft.
14642 Del Amo Ave Ave
Tustin, CA 92780
1162 Scherer Pl, Tustin, CA 92780
$1,337,500 Last Sold Price
9 Beds
8 Baths
4699 Sq.Ft.
1162 Scherer Pl
Tustin, CA 92780

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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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