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227 W Mayfair Ave, Orange, CA 92867
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227 W Mayfair Ave Orange, CA 92867

$913,700 Sold Price as of 02/14/2020
  • 4 Beds
  • 3 Baths
  • 2,340 Sq.Ft.
Sold
$913,700 Sold Price as of 02/14/2020 Refinance Your Mortgage
Map preview of 227 W Mayfair Ave, Orange, CA 92867

Property Overview: 227 W Mayfair Ave Orange, CA has 4 bedrooms, 3 bathrooms, 2,340 living square feet and 6,525 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: Pleased to present an opportunity to acquire a three-unit income property located in Old Towne Orange, CA. Built in 1955 and EXTENSIVELY renovated in 2019, the property offers a good mix of 1 and 2 bedroom units with a large backyard and ample parking. Each unit features a one car garage and additional driveway parking. The Mayfair Apartments offers an investor the opportunity to purchase a fully occupied income property with STRONG rental upside and long-term tenants. The property is conveniently located walking distance to Chapman University and the historical Orange Circle Plaza with shopping and many restaurants just around the corner. The building has been outfitted to operate EFFICIENTLY with low expenses and new upgrades. The plumbing has been replaced and updated to PVC. The current CAP RATE is 4.7%, with the cash on cash return projected above 6%. A detailed sheet on All renovations is available at request.

Listed by Gary Tolfa | BRE #00955403 | Triqor Group
Co-listed by Gary Tolfa | BRE #00955403 | Triqor Group
Last checked: 45 seconds ago | Last updated: September 27th, 2022 | Source CRMLS | DOM: 30

Home details

Lot Sq. Ft
6,525
HOA Dues
$0/mo
Year built
1955
Garage
3 Car
Property Type:
Multi Family
Status
Sold
MLS#
PW19258776
City
Orange
County
Orange
Time on Site
1392 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 3
  • Total # of Buildings: 1
  • # of Leased Units: 3
  • # of Electric Meters: 3
  • # of Gas Meters: 3
  • # of Water Meters: 3
Unit Breakdown 1
  • # of Units: 2
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 2
  • Garaged Attached? No
  • Furnishing: Furnished
  • Actual Rent: $1,550
  • Total Rent: $3,100
  • Pro Forma/Market Rent: $1,700
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Furnished
  • Actual Rent: $1,775
  • Total Rent: $1,775
  • Pro Forma/Market Rent: $2,000
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 4.7%
  • Gross Rent Multiplier: 15.35
  • Gross Scheduled Income: $60,900
  • Net Operating Income: $43,510
  • Gross Operating Income: --
Annual Expense Breakdown
  • Total Operating Expense: $15,563
  • New Taxes: $9,693
  • Trash: $500
  • Insurance: $900

Property Details for 227 W Mayfair Ave

Interior Features
Laundry Information
  • Has Laundry
  • Common Area, Community
Room Information
  • Flooring: Tile, Vinyl
  • Kitchen, Laundry, Living Room
Kitchen Information
  • Has Appliances
  • Dishwasher, Gas Cooktop, Gas Water Heater, Refrigerator
Interior Features
  • Ceiling Fan(s), Furnished
  • Levels: One
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 3
  • # of Parking Spaces: 3
Lot Information
  • Lot Features: Yard
  • Lot Size Source: Assessor
  • Common Interest: None
Property Information
  • Common Walls: 2+ Common Walls
  • Total # of Units: 3
  • Parcel Number: 38647313
  • Year Built Source: Public Records
  • Property is Attached
  • Property Condition: Updated/Remodeled
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Location / Neighborhood
Location Information
  • Directions: Please Contact Listing Agent For All Directions
  • Road Surface Type: Paved
Neighborhood Information
  • Community Features: Suburban
View more facts & features

Local Orange Agent

Sale History for 227 W Mayfair Ave

Last sold for $914,000 on February 14th, 2020

  • January, 2021

  • Jan 1, 2021

    Date

    Expired

    CRMLS: PW20209935

    $1,700

    Price

  • Oct 29, 2020

    Date

    Withdrawn

    CRMLS: PW20209935

    $1,700

    Price

  • Oct 6, 2020

    Date

    Active

    CRMLS: PW20209935

    $1,700

    Price

  • Listing provided courtesy of CRMLS

    Updated apartment just outside Old Town Orange. New Windows, Blinds, Paint inside and out, Large Closet and Remodeled Bath & New Freestanding Gas Range. 1 car garage. Laundry on site and walking distance to Chapman University.

  • February, 2020

  • Feb 18, 2020

    Date

    Sold

    CRMLS: PW19258776

    $913,700

    Price

  • Feb 11, 2020

    Date

    Active Under Contract

    CRMLS: PW19258776

    $935,000

    Price

  • Nov 6, 2019

    Date

    Active

    CRMLS: PW19258776

    $935,000

    Price

  • February, 2020

  • Feb 14, 2020

    Date

    Sold (Public Records)

    Public Records

    $914,000

    Price

  • October, 2019

  • Oct 13, 2019

    Date

    Expired

    CRMLS: OC19193079

    $899,000

    Price

  • Sep 30, 2019

    Date

    Withdrawn

    CRMLS: OC19193079

    $899,000

    Price

  • Aug 13, 2019

    Date

    Active

    CRMLS: OC19193079

    $899,000

    Price

  • Listing provided courtesy of CRMLS

    is pleased to present an opportunity to acquire a three-unit apartment building in the city of Orange. The building consists of one 2B/1BA unit and two 1BA/1BA units. The property is separately metered for gas and electric and has individual water heaters for each unit, and included owner owned laundry machine. Each unit comes with an large separate enclosed garage with plenty of storage. The property has gone through major exterior renovation by the current owner. Details of the rehab are included within the offering memorandum. Please contact listing agent for package. This opportunity allows an investor to acquire an asset in a sub-market of Orange that historically is in high demand with only a handful of buildings selling each year. An investor can raise total returns by simply raising rents to market given the demand in that area. Furthermore, with the improvements made a prospective investor would be acquiring a property that has gone through an extensive rehab providing great curb appeal for prospective tenants. Located off Mayfair and Glassell, this property is only a short walk, or bike ride to Chapman University or Downtown Orange.

  • March, 2019

  • Mar 23, 2019

    Date

    Sold

    CRMLS: PW18283075

    $725,000

    Price

  • Feb 26, 2019

    Date

    Pending

    CRMLS: PW18283075

    $880,000

    Price

  • Dec 4, 2018

    Date

    Active

    CRMLS: PW18283075

    $880,000

    Price

  • Listing provided courtesy of CRMLS

    TRIPLEX!! WALKING DISTANCE TO CHAPMAN UNIVERSITY!!! First Unit features 2Beds/1Bath and the other Two Units are both 1Bed/1Bath. There is an attached individual 3 Car Garage Parking with driveway and a separate laundry coin room for all units to use. It also has a large back yard for all three units. This units are located in a great environment area of the city of Orange.

  • March, 2019

  • Mar 15, 2019

    Date

    Sold (Public Records)

    Public Records

    $725,000

    Price

Show More

Tax History for 227 W Mayfair Ave

Assessed Value (2020): $739,500
Year Land Value Improved Value Assessed Value
2020 $665,600 $73,900 $739,500

Home Value Compared to the Market

This property vs the competition

227 W Mayfair Ave sold on February 14, 2020 for 10.95% lower than the current median sold price for the city of Orange which is $1,050,000. The median sold price per/sqft for Orange is $611 and this home is sold at $399.57 per/sqft which puts the price per square foot 34.6% lower than the current median sale per square foot for the city of Orange.

About 227 W Mayfair Ave

Detailed summary of property

227 W Mayfair Ave is a multi family that recently sold in Orange, CA 92867. This multi family property offered 4 bedrooms, 3 bathrooms, roughly 2,340 living square feet, and sits on an approximately 6,525 square foot lot. 227 W Mayfair Ave was first listed on ArdentRealEstateGroup.com on July 11, 2020. The homeowner sold the property for $913,700. Home in Orange are selling for a median price of $1,050,000 and a median price per square foot of $611. Based on Ardent Real Estate Group's Orange Market Data, this home is sold 10.95% lower than the current median priced home. Local homes that are currently for sale include 645 N Towne Ave, 3850 E 15th St and 3850 E 15th St. While the average home in Orange, CA is selling in 44 days, 227 W Mayfair Ave has a days on market of 30 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 227 W Mayfair Ave Orange, CA 92867 contact Ardent Real Estate Group and we will put you in touch with one of our Orange agents.

Public Facts for 227 W Mayfair Ave

Public county record property details
Beds
--
Baths
--
Year built
1955
Sq. Ft.
2,340
Lot Size
6,525
Stories
--
Type
Apartments (Generic)
Pool
No
Spa
No
County
Orange
Lot#
14
APN
386-473-13

The source for these homes facts are from public records.

92867 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$1,350,000
Median List Price/Sq.Ft.
$588
Median Sold Price
$1,175,000
Median Sold Price/Sq.Ft.
$627
Total Inventory
45
Median Sale to List Price %
102.26%
Avg Days on Market
31
Loan Type
Conventional (56.25%), FHA (0%), VA (0%), Cash (31.25%), Other (12.5%)

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Recently Sold Homes Near 227 W Mayfair Ave

238-244 W Mayfair Ave, Orange, CA 92867
$1,050,000 Last Sold Price
-- Beds
-- Baths
-- Sq.Ft.
238-244 W Mayfair Ave
Orange, CA 92867
234 W Mayfair Ave, Orange, CA 92867
$1,200,000 Last Sold Price
4 Beds
4 Baths
2500 Sq.Ft.
234 W Mayfair Ave
Orange, CA 92867
829 N Lemon St, Orange, CA 92867
$950,000 Last Sold Price
8 Beds
4 Baths
4508 Sq.Ft.
829 N Lemon St
Orange, CA 92867
815 N Olive St, Orange, CA 92867
$1,660,000 Last Sold Price
10 Beds
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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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