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16662 Alliance Ave, Tustin, CA 92780
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16662 Alliance Ave Tustin, CA 92780

$2,540,000 Sold Price as of 04/30/2021
  • 16 Beds
  • 10 Baths
  • 7,683 Sq.Ft.
Sold
$2,540,000 Sold Price as of 04/30/2021 Refinance Your Mortgage
Map preview of 16662 Alliance Ave, Tustin, CA 92780

Property Overview: 16662 Alliance Ave Tustin, CA has 16 bedrooms, 10 bathrooms, 7,683 living square feet and 11,018 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: We are pleased to offer 16662-16666 Alliance Avenue, an 8-unit apartment investment opportunity located in the desirable and seldom available rental market of Tustin. The property is comprised of good-sized 1, 2, and 3 bedroom units, and has a strong history of tenant retention. In addition to Tustin being located in the heart of Orange County, Alliance Avenue is well placed near schools, retail centers, and employment centers, and offers quick access to both the 5 and 55 freeways, meaning residents can get anywhere in Orange County relatively quickly. The property is well-maintained and offers garage parking, gated access, and laundry facilities. With such a tight rental market in Tustin, there is certainly room for an investor to capitalize on the upside and boost revenue even more. *Highly Desirable Tustin Rental Market, *Excellent Mix of 1, 2 & 3-Bedroom Units, *Close Proximity to Schools, Retail and Entertainment, *Convenient Access to 5 and 55 Freeways, *Garage Parking and Gated Access, *Stable Occupancy History; Very Low Turnover

Listed by Damien Breaux | BRE #01460301 | Morgan Skenderian
Last checked: 8 minutes ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 163

Home details

Lot Sq. Ft
11,018
HOA Dues
$0/mo
Year built
1965
Garage
8 Car
Property Type:
Multi Family
Status
Sold
MLS#
PW20202918
City
Tustin
County
Orange
Time on Site
1311 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 8
  • Total # of Buildings: 2
  • # of Electric Meters: 9
  • # of Gas Meters: 9
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 2
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,410
  • Total Rent: $2,820
  • Pro Forma/Market Rent: $1,495
Unit Breakdown 2
  • # of Units: 4
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,678
  • Total Rent: $6,710
  • Pro Forma/Market Rent: $1,925
Unit Breakdown 3
  • # of Units: 2
  • # of Beds: 3
  • # of Baths: 2
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,910
  • Total Rent: $3,820
  • Pro Forma/Market Rent: $2,100
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 4%
  • Gross Rent Multiplier: 15.99
  • Gross Scheduled Income: $162,240
  • Net Operating Income: $102,858
  • Gross Operating Income: $157,373
  • Vacancy Allowance: $4,867
  • Laundry Income: $840
  • Other Income 1: $1,200
  • Other Income Description: Storage Income
Annual Expense Breakdown
  • Total Operating Expense: $54,514
  • Electric: $0
  • Gas/Fuel: $0
  • New Taxes: $27,695
  • Trash: $0
  • Gardener: $1,440
  • Insurance: $2,156
  • Maintenance: $8,243
  • Workman's Comp: $1,800
  • Professional Management: $0
  • Water/Sewer: $0
  • Other Expenses: $8,788
  • Other Expense Description: Utility

Property Details for 16662 Alliance 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: 8
  • # of Parking Spaces: 8
Lot Information
  • Lot Features: 6-10 Units/Acre
  • Lot Size Source: Assessor
  • Common Interest: None
Property Information
  • Common Walls: No Common Walls
  • Total # of Units: 8
  • Parcel Number: 40229213
  • 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
  • Other Subdivision Name: N/A
  • Directions: North of McFadden Avenue & West of Tustin Village Way
Neighborhood Information
  • Community Features: Curbs, Sidewalks, Storm Drains, Street Lights
View more facts & features

Local Tustin Agent

Sale History for 16662 Alliance Ave

Last sold for $2,540,000 on April 30th, 2021

  • April, 2021

  • Apr 30, 2021

    Date

    Sold

    CRMLS: PW20202918

    $2,540,000

    Price

  • Mar 10, 2021

    Date

    Active Under Contract

    CRMLS: PW20202918

    $2,595,000

    Price

  • Feb 16, 2021

    Date

    Active

    CRMLS: PW20202918

    $2,595,000

    Price

  • Jan 22, 2021

    Date

    Active Under Contract

    CRMLS: PW20202918

    $2,595,000

    Price

  • Jan 19, 2021

    Date

    Active

    CRMLS: PW20202918

    $2,595,000

    Price

  • Jan 11, 2021

    Date

    Active Under Contract

    CRMLS: PW20202918

    $2,595,000

    Price

  • Sep 28, 2020

    Date

    Active

    CRMLS: PW20202918

    $2,595,000

    Price

  • March, 2015

  • Mar 31, 2015

    Date

    Sold (Public Records)

    Public Records

    $1,735,000

    Price

  • December, 2010

  • Dec 22, 2010

    Date

    Sold (Public Records)

    Public Records

    $975,000

    Price

Show More

Tax History for 16662 Alliance Ave

Assessed Value (2020): $1,906,657
Year Land Value Improved Value Assessed Value
2020 $1,208,834 $697,823 $1,906,657

Home Value Compared to the Market

This property vs the competition

16662 Alliance Ave sold on April 30, 2021 for 182.07% 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 $337.76 per/sqft which puts the price per square foot 48.04% lower than the current median sale per square foot for the city of Tustin.

About 16662 Alliance Ave

Detailed summary of property

16662 Alliance Ave is a multi family that recently sold in Tustin, CA 92780. This multi family property offered 16 bedrooms, 10 bathrooms, roughly 7,683 living square feet, and sits on an approximately 11,018 square foot lot. 16662 Alliance Ave was first listed on ArdentRealEstateGroup.com on September 28, 2020. The homeowner sold the property for $2,540,000. 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 182.07% higher than the current median priced home. Local homes that are currently for sale include 1551 W Ball Rd, 602 E Wilhelmina St and 734 Center St. While the average home in Tustin, CA is selling in 22 days, 16662 Alliance Ave has a days on market of 163 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 16662 Alliance 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 16662 Alliance Ave

Public county record property details
Beds
--
Baths
--
Year built
1965
Sq. Ft.
7,683
Lot Size
11,018
Stories
2
Type
Apartments (Generic)
Pool
No
Spa
No
County
Orange
Lot#
2
APN
402-292-13

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.
$590
Median Sold Price
$1,200,000
Median Sold Price/Sq.Ft.
$624
Total Inventory
40
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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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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