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18442 Steep Ln, Huntington Beach, CA 92648
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18442 Steep Ln Huntington Beach, CA 92648

$1,900,000 Sold Price as of 03/20/2023
  • 9 Beds
  • 7 Baths
  • 4,354 Sq.Ft.
Sold
$1,900,000 Sold Price as of 03/20/2023 Refinance Your Mortgage
Map preview of 18442 Steep Ln, Huntington Beach, CA 92648

Property Overview: 18442 Steep Ln Huntington Beach, CA has 9 bedrooms, 7 bathrooms, 4,354 living square feet and 6,970 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: We are pleased to present 18442 Steep Ln, a 4-unit multi-family community located in the prime coastal market of Huntington Beach, CA. Located just off Five Points, this Covington property is just minutes from the dining, entertainment, and shopping located in Downtown Huntington Beach. The property was built in 1973 and is comprised of approximately 4,354 rentable square feet on a 6,971 square foot lot. The building has an outstanding unit mix, comprising entirely of oversized 2 and 3 units, and with a walk score of 78, tenants enjoy the convenience of being just across the street from Five Points Plaza, home to Trader Joe's Big 5, Tilly's, Vans, Bank of America, Chase Bank, and many others. The Huntington Beach rental market is among the strongest performing areas in metro Orange County, and with rents in Orange County metro gaining approximately 19% year over year, this building is ripe for an investor to add value. It is this demand, along with the execution of an interior and exterior renovation plan that should help a new owner see a substantial 43% increase in gross rental income. Given the strength of the overall market within the city of Huntington Beach, the property offers an investor the ability to capture quality tenants seeking a great neighborhood with convenient access to a wide variety of activities, transportation and retail amenities. This overall demand for well-located apartments will be a key driver in the continued growth. This would be an outstanding addition to any investor's portfolio.

Listed by Kevin King | BRE #01158184 | Marcus & Millichap
Co-listed by Ryan Gonzalez | BRE #01874815 | Marcus & Millichap
Last checked: 32 minutes ago | Last updated: March 20th, 2023 | Source CRMLS | DOM: 117

Home details

Lot Sq. Ft
6,970
HOA Dues
$0/mo
Year built
1973
Garage
5 Car
Property Type:
Fourplex
Status
Sold
MLS#
PW22227160
City
Huntington Beach
County
Orange
Time on Site
616 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 4
  • Total # of Buildings: 1
  • # of Electric Meters: 5
  • # of Gas Meters: 5
  • # of Water Meters: 5
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 2
  • Garage Spaces: 2
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,500
  • Total Rent: $2,500
  • Pro Forma/Market Rent: $380
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,600
  • Total Rent: $1,600
  • Pro Forma/Market Rent: $2,400
Unit Breakdown 3
  • # of Units: 2
  • # of Beds: 2
  • # of Baths: 2
  • Garage Spaces: 2
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,800
  • Total Rent: $3,600
  • Pro Forma/Market Rent: $2,550
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: --
  • Gross Scheduled Income: $92,400
  • Net Operating Income: $49,413
  • Gross Operating Income: --
Annual Expense Breakdown
  • Total Operating Expense: $49,413
  • Electric: $1,000
  • Gas/Fuel: $1,000
  • New Taxes: $24,375
  • Trash: $1,000
  • Gardener: $1,800
  • Insurance: $1,959
  • Maintenance: $2,600
  • Professional Management: $4,481
  • Water/Sewer: $1,000
  • Other Expenses: $1,000
  • Other Expense Description: Reserves

Property Details for 18442 Steep Ln

Interior Features
Laundry Information
  • Has Laundry
  • Gas & Electric Dryer Hookup
Interior Features
  • Levels: Two
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 5
  • # of Parking Spaces: 8
Lot Information
  • Lot Features: 2-5 Units/Acre
  • Lot Size Source: Assessor
  • Common Interest: None
Property Information
  • Common Walls: 2+ Common Walls
  • Total # of Units: 4
  • Parcel Number: 15903114
  • Year Built Source: Assessor
  • Property is Attached
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Location / Neighborhood
Location Information
  • Directions: Go East on Ellis Ave towards Main St, make a left on Steep Ln, property is on left
Neighborhood Information
  • Community Features: Curbs, Gutters, Sidewalks
View more facts & features

Local Huntington Beach Agent

Sale History for 18442 Steep Ln

Last sold for $1,900,000 on March 20th, 2023

  • March, 2023

  • Mar 20, 2023

    Date

    Sold

    CRMLS: PW22227160

    $1,900,000

    Price

  • Oct 21, 2022

    Date

    Active

    CRMLS: PW22227160

    $2,000,000

    Price

  • August, 2021

  • Aug 20, 2021

    Date

    Leased

    CRMLS: OC21183427

    $2,000

    Price

  • Aug 19, 2021

    Date

    Active

    CRMLS: OC21183427

    $2,295

    Price

  • Listing provided courtesy of CRMLS

    Cul-De-Sac: Lower 2 Bedroom 2 Bath, Kitchen with Large Breakfast Top, Stove, Dishwasher, Separate Dining with Ceiling Fan, Recessed Lighting, Freshly Painted. Vertical blinds, New Vinyl Planking Throughout, New Carpet in Bedrooms, Enclosed Patio, Single Enclosed Garage with Laundry Hook-up’s, Near Terry Park & Five Point Shopping Center.

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Tax History for 18442 Steep Ln

Assessed Value (2020): $275,505
Year Land Value Improved Value Assessed Value
2020 $52,845 $222,660 $275,505

Home Value Compared to the Market

This property vs the competition

18442 Steep Ln sold on March 20, 2023 for 54.76% higher than the current median sold price for the city of Huntington Beach which is $1,260,000. The median sold price per/sqft for Huntington Beach is $767 and this home is sold at $447.86 per/sqft which puts the price per square foot 41.61% lower than the current median sale per square foot for the city of Huntington Beach.

About 18442 Steep Ln

Detailed summary of property

18442 Steep Ln is a fourplex that recently sold in Huntington Beach, CA 92648. This fourplex offered 9 bedrooms, 7 bathrooms, roughly 4,354 living square feet, and sits on an approximately 6,970 square foot lot. 18442 Steep Ln was first listed on ArdentRealEstateGroup.com on October 21, 2022. The homeowner sold the property for $1,900,000. Home in Huntington Beach are selling for a median price of $1,260,000 and a median price per square foot of $767. Based on Ardent Real Estate Group's Huntington Beach Market Data, this home is sold 54.76% higher than the current median priced home. Local homes that are currently for sale include 938 S Gilbuck Dr, 7545 Jackson Way and 310 N Muller St. While the average home in Huntington Beach, CA is selling in 59 days, 18442 Steep Ln has a days on market of 117 days. There are currently 354 homes for sale in the Huntington Beach real estate market and 239 of them are single family homes while 86 of them are condos and 29 are townhomes. For more information on this home for sale at 18442 Steep Ln Huntington Beach, CA 92648 contact Ardent Real Estate Group and we will put you in touch with one of our Huntington Beach agents.

Public Facts for 18442 Steep Ln

Public county record property details
Beds
--
Baths
--
Year built
1973
Sq. Ft.
4,354
Lot Size
7,032
Stories
2
Type
Quadruplex (4 Units, Any Combination)
Pool
No
Spa
No
County
Orange
Lot#
11
APN
159-031-14

The source for these homes facts are from public records.

92648 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$1,495,000
Median List Price/Sq.Ft.
$874
Median Sold Price
$1,200,000
Median Sold Price/Sq.Ft.
$756
Total Inventory
120
Median Sale to List Price %
92.38%
Avg Days on Market
32
Loan Type
Conventional (40%), FHA (0%), VA (0%), Cash (34.29%), Other (25.71%)

Thinking of Selling?

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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.

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