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2026 N Park Ln, Orange, CA 92865
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2026 N Park Ln Orange, CA 92865

$1,875,000
  • 9 Beds
  • 7 Baths
  • 4,394 Sq.Ft.
For Sale
$1,875,000 Get Pre-Qualified
Map preview of 2026 N Park Ln, Orange, CA 92865

Property Overview: 2026 N Park Ln Orange, CA has 9 bedrooms, 7 bathrooms, 4,394 living square feet and 9,148 square feet lot size. Call an Ardent Real Estate Group agent to verify current availability of this home or with any questions you may have.

Agent Remarks: The Park Lane Apartments, are a recently renovated, Covington style 4-plex located within the Villa Park school district in the city of Orange. The subject property has recently received over $125,000 in renovations including new exterior paint, new windows, new landscaping, exterior lighting and new air conditioning condensers. The building is comprised of four nicely appointed units: 1 (3+2.5 TH), 1 (2+2), and 2 (2+1.5 TH). Constructed in 1975, the subject property has 4,394 rentable square feet and sits atop a 9,360 square foot lot. Three of the four units are townhome style with an upstairs downstairs floor plan. All 4 have enclosed patio areas and have access to a gated back yard area. There are 5 large enclosed garages at the property along with two additional spaces. Each of the apartments is separately metered for gas and electric and has central A/C. An onsite laundry room brings in additional income. The Park Lane Apartments present a unique opportunity for an owner occupant or investor to purchase a turn key apartment asset in a sought-after rental neighborhood in the city of Orange.

Listed by Michael Arp | BRE #01488586 | Morgan Skenderian
Last checked: 3 minutes ago | Last updated: April 20th, 2024 | Source CRMLS | DOM: 12
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Home details

Lot Sq. Ft
9,148
HOA Dues
$0/mo
Year built
1975
Garage
5 Car
Property Type:
Fourplex
Status
Active
MLS#
PW24078264
City
Orange
County
Orange
Time on Site
13 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 4
  • Total # of Buildings: 1
  • # of Electric Meters: 55
  • # of Gas Meters: 5
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 2
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,670
  • Total Rent: $1,670
  • Pro Forma/Market Rent: $3,300
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 2
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,047
  • Total Rent: $2,047
  • Pro Forma/Market Rent: $2,500
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 2
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,917
  • Total Rent: $1,917
  • Pro Forma/Market Rent: $2,500
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 2
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,047
  • Total Rent: $2,047
  • Pro Forma/Market Rent: $2,500
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 3.8%
  • Gross Rent Multiplier: 17.63
  • Gross Scheduled Income: $106,332
  • Net Operating Income: $71,329
  • Gross Operating Income: --
  • Vacancy Allowance: $2,083
  • # of Rented Garages: 4
  • Garage Rental Rate: $250
  • Garage Rental Income: $1,000
  • Laundry Income: $180
  • Laundry Own/Lease: Lease
Annual Expense Breakdown
  • Total Operating Expense: $32,919
  • Electric: $1,250
  • Gas/Fuel: $1,250
  • Trash: $1,250
  • Insurance: $3,000
  • Maintenance: $5,210
  • Water/Sewer: $1,250

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Property Details for 2026 N Park Ln

Interior Features
Cooling Information
  • Has Cooling
  • Central Air
Heating Information
  • Has Heating
  • Forced Air
Laundry Information
  • Has Laundry
  • Common Area
Interior Features
  • Levels: Two
  • Window Features: Double Pane Windows
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 5
  • # of Parking Spaces: 7
  • Has Parking
  • Parking Features: Garage
Lot Information
  • Lot Features: Corner Lot, Rectangular Lot, Level
  • Lot Size Source: Assessor
  • Common Interest: None
Property Information
  • Common Walls: No Common Walls
  • Total # of Units: 4
  • Parcel Number: 37213121
  • Year Built Source: Assessor
  • Entry Level: 1
  • Property is not Attached
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
  • Utilities: Electricity Connected, Natural Gas Connected, Water Connected
Location / Neighborhood
Location Information
  • Directions: South of Meats Avenue and West of the 55 freeway
Neighborhood Information
  • Community Features: Curbs, Street Lights
View more facts & features

Local Orange Agent

Sale History for 2026 N Park Ln

Last sold for $1,493,000 on February 23rd, 2024

  • April, 2024

  • Apr 19, 2024

    Date

    Active

    CRMLS: PW24078264

    $1,875,000

    Price

  • February, 2024

  • Feb 23, 2024

    Date

    Sold

    CRMLS: OC24022792

    $1,493,000

    Price

  • Feb 4, 2024

    Date

    Active

    CRMLS: OC24022792

    $1,449,000

    Price

  • Listing provided courtesy of CRMLS

    Welcome to 2026 North Park Lane, an exceptional investment opportunity featuring four fully leased units. This property is comprised of three 2-bedroom, 2-bath units and one large 3-bedroom, 2.5-bath unit. All units have a one-car garage. There is also an additional one-car garage that can be used for additional storage income. -Unit 1: 3bd/2.5ba, 1289sf -Unit 2: 2bd/2ba, 940sf -Unit 3: 2bd/2ba, 940sf -Unit 4: 2bd/2ba, 1140sf The property sits on a 9,148 sf lot offering potential opportunity for additional storage or additional units. For added convenience, a separate coin-operated laundry room is included, offering the potential for additional income. The property is strategically located within walking distance to a variety of shopping options, including popular retailers such as Target and Home Depot, as well as easy access to public transportation. All units are currently on month-to-month leases and rents are scheduled to be increased on March 1. Current rents are under market value, giving investors the opportunity to increase NOI.

  • November, 1993

  • Nov 30, 1993

    Date

    Sold (Public Records)

    Public Records

    --

    Price

Show More

Tax History for 2026 N Park Ln

Assessed Value (2020): $223,644
Year Land Value Improved Value Assessed Value
2020 $35,778 $187,866 $223,644

Home Value Compared to the Market

This property vs the competition

2026 N Park Ln is listed 70.45% higher than the median list price for the city of Orange which has a median list price of $1,100,000. The median price per/sqft for Orange is $617 and this home is listed at $426.72 per/sqft which puts the price per square foot 30.84% lower than the median price per square foot for the city of Orange.

About 2026 N Park Ln

Detailed summary of property

2026 N Park Ln is a fourplex located in Orange, CA 92865 and is currently for sale. This fourplex offers 9 bedrooms, 7 bathrooms, roughly 4,394 living square feet, and sits on an approximately 9,148 square foot lot. 2026 N Park Ln was first listed on ArdentRealEstateGroup.com on April 19, 2024. The homeowner is currently asking $1,875,000. The median priced home in Orange is $1,100,000 with a median price per square foot of $617. Based on Ardent Real Estate Group's Orange Market Data, this home is listed 70.45% higher than the median priced home. Local competing homes currently for sale include 1401 E Lincoln Ave, 1556 E Benmore Ln and 310 E Wakefield Ave. While the average home in Orange, CA is selling in 44 days, 2026 N Park Ln has a days on market of 12 days. There are currently 156 homes for sale in the Orange real estate market and 119 of them are single family homes while 30 of them are condos and 7 are townhomes. For more information on this home for sale at 2026 N Park Ln Orange, CA 92865 contact Ardent Real Estate Group and we will put you in touch with one of our Orange agents.

Public Facts for 2026 N Park Ln

Public county record property details
Beds
--
Baths
--
Year built
1975
Sq. Ft.
4,395
Lot Size
10,349
Stories
2
Type
Quadruplex (4 Units, Any Combination)
Pool
No
Spa
No
County
Orange
Lot#
--
APN
372-131-21

The source for these homes facts are from public records.

92865 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$995,000
Median List Price/Sq.Ft.
$609
Median Sold Price
$905,000
Median Sold Price/Sq.Ft.
$577
Total Inventory
24
Median Sale to List Price %
90.45%
Avg Days on Market
12
Loan Type
Conventional (22.22%), FHA (11.11%), VA (0%), Cash (11.11%), Other (55.56%)

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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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