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17062 Altadena Dr Tustin, CA 92780

$4,400,000 Sold Price as of 12/31/2019

31 Beds
17 Baths
15,184 Sq.Ft.

Sold

$4,400,000 Sold Price as of 12/31/2019 Refinance Your Mortgage

Map preview of 17062 Altadena Dr, Tustin, CA 92780

Property Overview: 17062 Altadena Dr Tustin, CA has 31 bedrooms, 17 bathrooms, 15,184 living square feet and 33,815 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: BACK ON THE MARKET!!! After a lengthy escrow, the buyer canceled. __These Apartment Homes are Always Rented! Great Tustin Location with Easy Access to the 55 Freeway, Tustin Commuter Rail(Orange County, Inland Empire-Orange County Lines) and OCTA Busses. Strong Rental Market with Easy to Rent 2 & 3 BRs. Each Unit has an Individual Single Garage, Parking Space, and a Yard, Balcony or Deck! This well kept Income Property has all New Double Pane Windows. Flooring consists of Porcelain Tile, Wood Look Vinyl, and Carpet Flooring. Kitchen Counters are some Granite, some Ceramic Tile with Free Standing Range and Ovens on Wood Cabinets. The Laundry Equipment is Owned and Included. Most Units have New Air Conditioners. All units have Individual Gas and Electric Meters. Residents Love Living Here! Some have been in their Homes for over 20 Years! A Solid Investment Property. (A New Updated Offering Memorandum will be up soon!)(Subject to the cancelation of previous escrow.)

Listed by Bill Bailey | BRE #00444723 | Bill Bailey Broker

Last checked: 9 minutes ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 211

Home details

Lot Sq. Ft: 33,815
HOA Dues: $0/mo
Year built: 1964
Garage: 14 Car
Property Type:: Apartment

Status: Sold
MLS#: PW19076335
City: Tustin
County: Orange
Time on Site: 1385 days

Multi-Family Unit Breakdown

Unit Mix Summary

Total # of Units: 14
Total # of Buildings: 3
# of Leased Units: 14
# of Electric Meters: 14
# of Gas Meters: 14
# of Water Meters: 3

Unit Breakdown 1

# of Units: 2
# of Beds: 2
# of Baths: 1
Garage Spaces: 1
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $1,550
Total Rent: $3,100
Pro Forma/Market Rent: $3,700

Unit Breakdown 2

# of Units: 2
# of Beds: 2
# of Baths: 1
Garage Spaces: 1
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $1,575
Total Rent: $3,150
Pro Forma/Market Rent: $3,700

Unit Breakdown 3

# of Units: 1
# of Beds: 2
# of Baths: 1
Garage Spaces: 1
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $1,675
Total Rent: $1,675
Pro Forma/Market Rent: $1,850

Unit Breakdown 4

# of Units: 2
# of Beds: 2
# of Baths: 1
Garage Spaces: 1
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $1,700
Total Rent: $3,400
Pro Forma/Market Rent: $3,700

Unit Breakdown 5

# of Units: 4
# of Beds: 2
# of Baths: 1
Garage Spaces: 1
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $1,750
Total Rent: $7,000
Pro Forma/Market Rent: $7,400

Unit Breakdown 6

# of Units: 2
# of Beds: 3
# of Baths: 2
Garage Spaces: 1
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $1,775
Total Rent: $3,550
Pro Forma/Market Rent: $4,400

Unit Breakdown 7

# of Units: 1
# of Beds: 3
# of Baths: 2
Garage Spaces: 1
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $1,800
Total Rent: $1,800
Pro Forma/Market Rent: $2,200

Multi-Family Income/Expense Information

Property Income and Analysis

Cap Rate: 4.2%
Gross Rent Multiplier: 15.3
Gross Scheduled Income: $294,120
Net Operating Income: $189,197
Gross Operating Income: $285,296
Vacancy Allowance: $8,824
Laundry Income: $835
Laundry Own/Lease: Own

Annual Expense Breakdown

Total Operating Expense: $96,099
Electric: $1,430
Gas/Fuel: $4,180
New Taxes: $52,575
Trash: $4,694
Gardener: $3,000
Insurance: $6,062
Maintenance: $9,945
Professional Management: $6,000
Water/Sewer: $8,213

Property Details for 17062 Altadena Dr

Interior Features

Cooling Information

Has Cooling
Wall/Window Unit(s)

Heating Information

Has Heating
Central

Laundry Information

Has Laundry
Community

Fireplace Information

Has Fireplace
See Remarks

Exterior Features

No Pool
Pool Features: None

Lot Details / Garage and Parking

Parking/Garage Information

# of Garage Spaces: 14
# of Parking Spaces: 28
Has Parking
Parking Features: Assigned

Lot Information

Lot Features: Lot 20000-39999 Sqft, Sprinkler System
Lot Size Source: Assessor

Property Information

Common Walls: 2+ Common Walls
Total # of Units: 14
Parcel Number: 40213103
Year Built Source: Assessor
Property is Attached
Offered With Property: Laundry Equipment

Homeowners Association, Utilities, Taxes / Assessments

Utilities Information

Sewer: Public Sewer
Water Source: Public

Location / Neighborhood

Location Information

Subdivision Name: Other (OTHR)
Other Subdivision Name: None
Directions: W/Pasadena, S/McFadden

Neighborhood Information

Community Features: Curbs, Sidewalks, Street Lights

View more facts & features

Local Tustin Agent

Sale History for 17062 Altadena Dr

Last sold for $4,400,000 on December 31st, 2019

January, 2020
Jan 3, 2020

Date

Sold

CRMLS: PW19076335

$4,400,000

Price
Dec 6, 2019

Date

Pending

CRMLS: PW19076335

$4,500,000

Price
Nov 15, 2019

Date

Active Under Contract

CRMLS: PW19076335

$4,500,000

Price
Oct 18, 2019

Date

Active

CRMLS: PW19076335

$4,500,000

Price
Sep 9, 2019

Date

Active Under Contract

CRMLS: PW19076335

$4,500,000

Price
Apr 5, 2019

Date

Active

CRMLS: PW19076335

$4,500,000

Price
December, 2019
Dec 31, 2019

Date

Sold (Public Records)

Public Records

$4,400,000

Price
February, 1999
Feb 25, 1999

Date

Sold (Public Records)

Public Records

$1,000,000

Price

Tax History for 17062 Altadena Dr

Assessed Value (2020): $1,831,500

Year	Land Value	Improved Value	Assessed Value
2020	$1,601,500	$230,000	$1,831,500

Home Value Compared to the Market

This property vs the competition

17062 Altadena Dr sold on December 31, 2019 for 289.61% 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 $296.36 per/sqft which puts the price per square foot 54.34% lower than the current median sale per square foot for the city of Tustin.

About 17062 Altadena Dr

Detailed summary of property

17062 Altadena Dr is a apartment that recently sold in Tustin, CA 92780. This apartment offered 31 bedrooms, 17 bathrooms, roughly 15,184 living square feet, and sits on an approximately 33,815 square foot lot. 17062 Altadena Dr was first listed on ArdentRealEstateGroup.com on July 21, 2020. The homeowner sold the property for $4,400,000. 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 289.61% higher than the current median priced home. Local homes that are currently for sale include 210 Grant St, 210 Grant St and 7851 Glencoe Dr. While the average home in Tustin, CA is selling in 21 days, 17062 Altadena Dr has a days on market of 211 days. There are currently 78 homes for sale in the Tustin real estate market and 37 of them are single family homes while 27 of them are condos and 14 are townhomes. For more information on this home for sale at 17062 Altadena Dr Tustin, CA 92780 contact Ardent Real Estate Group and we will put you in touch with one of our Tustin agents.

Public Facts for 17062 Altadena Dr

Public county record property details

Beds: --
Baths: --
Year built: 1964
Sq. Ft.: 6,546
Lot Size: 15,522
Stories: --

Type: Apartments (Generic)
Pool: No
Spa: No
County: Orange
Lot#: 3
APN: 402-131-03

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

$895,000

Median List Price/Sq.Ft.

$575

Median Sold Price

$1,200,000

Median Sold Price/Sq.Ft.

$624

Total Inventory

Median Sale to List Price %

101.27%

Avg Days on Market

Loan Type

Conventional (57.14%), FHA (9.52%), VA (0%), Cash (14.29%), Other (19.05%)

Thinking of Selling?

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(714) 706-1823

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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.