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24502 Bendricon Ln, Lake Forest, CA 92630
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24502 Bendricon Ln Lake Forest, CA 92630

$3,750,000 Sold Price as of 01/26/2024
  • 10 Beds
  • 8 Baths
  • 6,626 Sq.Ft.
Sold
$3,750,000 Sold Price as of 01/26/2024 Refinance Your Mortgage
Map preview of 24502 Bendricon Ln, Lake Forest, CA 92630

Property Overview: 24502 Bendricon Ln Lake Forest, CA has 10 bedrooms, 8 bathrooms, 6,626 living square feet and 17,860 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: Pleased to present 24502 Bendricon Lane, a turnkey 8 unit apartment complex located in the desirable city of Lake Forest. Built in 1977 and renovated in 2023, this immaculate property has received an enormous amount of recent improvements including fresh exterior paint, new asphalt slurry of driveway and parking, all new windows and sliders and beautiful landscaping. This rare opportunity is one of only 15 apartment complexes between 5-30 units in the entire city. The property contains a preferred unit mix of 1 & 2 bedrooms which all have been dramatically upgraded with high end finishes and sleek, modern designs. The building offers in-demand amenities such as patios & balconies for each unit, air conditioning, a community laundry room and ample parking options with 13 total parking spaces mixed between garages, carports, and open parking spaces. A sizeable lot of 17,860 sq.ft. provides tremendous open area for tenants and could be potential space to add ADU's (Accessory Dwelling Units). This asset is primed for the passive investor looking to generate immediate cash flow without the need for additional capital or managing the headaches of renovations and upgrades.

Listed by Rick Applebaum | BRE #01273871 | Morgan Skenderian
Co-listed by Paul Espinosa | BRE #01942627 | Morgan Skenderian
Last checked: 3 minutes ago | Last updated: January 27th, 2024 | Source CRMLS | DOM: 74

Home details

Lot Sq. Ft
17,860
HOA Dues
$0/mo
Year built
1977
Garage
5 Car
Property Type:
Apartment
Status
Sold
MLS#
PW23149699
City
Lake Forest
County
Orange
Time on Site
264 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 8
  • Total # of Buildings: 1
  • # of Electric Meters: 9
  • # of Gas Meters: 9
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,075
  • Total Rent: $2,075
  • Pro Forma/Market Rent: $2,258
Unit Breakdown 2
  • # of Units: 4
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,100
  • Total Rent: $2,100
  • Pro Forma/Market Rent: $2,285
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,150
  • Total Rent: $2,150
  • Pro Forma/Market Rent: $2,339
Unit Breakdown 4
  • # of Units: 2
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,425
  • Total Rent: $2,425
  • Pro Forma/Market Rent: $2,638
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 3.9%
  • Gross Rent Multiplier: 17.98
  • Gross Scheduled Income: $219,948
  • Net Operating Income: $152,839
  • Gross Operating Income: $213,349
  • Vacancy Allowance: $6,598
  • Garage Rental Income: $4,500
  • Laundry Income: $2,424
  • Other Income 1: $3,324
  • Other Income Description: RUBS
Annual Expense Breakdown
  • Total Operating Expense: $60,510
  • Electric: $2,333
  • Gas/Fuel: $2,333
  • New Taxes: $40,620
  • Trash: $2,333
  • Gardener: $1,800
  • Insurance: $3,458
  • Maintenance: $4,800
  • Professional Management: $0
  • Water/Sewer: $2,333
  • Other Expenses: $500
  • Other Expense Description: admin

Property Details for 24502 Bendricon Ln

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: 5
  • # of Parking Spaces: 13
  • Has Parking
  • Parking Features: Assigned
Lot Information
  • Lot Features: Cul-De-Sac
  • Lot Size Source: Assessor
  • Common Interest: Community Apartment
Property Information
  • Common Walls: 1 Common Wall
  • Total # of Units: 8
  • Parcel Number: 61744108
  • Year Built Source: Assessor
  • Entry Level: 1
  • Property is Attached
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Assessment Information
  • Has Assessments
  • Assessments: Special Assessments
Location / Neighborhood
Location Information
  • Directions: El Torro Rd and Muirlands Blvd are the major cross streets.
Neighborhood Information
  • Community Features: Curbs, Gutters, Sidewalks
View more facts & features

Local Lake Forest Agent

Sale History for 24502 Bendricon Ln

Last sold for $3,750,000 on January 26th, 2024

  • January, 2024

  • Jan 26, 2024

    Date

    Sold

    CRMLS: PW23149699

    $3,750,000

    Price

  • Aug 11, 2023

    Date

    Active

    CRMLS: PW23149699

    $4,199,000

    Price

  • August, 2023

  • Aug 31, 2023

    Date

    Leased

    CRMLS: PW23131419

    $2,100

    Price

  • Jul 17, 2023

    Date

    Active

    CRMLS: PW23131419

    $2,100

    Price

  • Listing provided courtesy of CRMLS

    Move in special $1,000 off 1st month's rent OAC. This property has been beautifully remodeled, from the exterior of the property to the interior of the units. The unit has an open concept with a separate dining area, boasts an oversized balcony off the living room, and has assigned parking. Other great features include- New luxury and carpet flooring throughout, new paint with custom colors, refaced cabinets with new hardware and new quartz countertops, new designer and decorative light fixtures including ceiling fans. New stainless steel appliances include: stove and dishwasher, new vertical blinds, newly glazed shower/tub combo. Large walk-in closet, wall AC unit, spacious and private balcony and onsite laundry facility. This property is ideally located within minutes to multiple parks, elementary and high schools, Saddleback college, golf courses, dining, shopping and the 55 freeway, and so much more!

  • July, 2023

  • Jul 14, 2023

    Date

    Leased

    CRMLS: PW23097900

    $2,100

    Price

  • Jun 3, 2023

    Date

    Active

    CRMLS: PW23097900

    $2,100

    Price

  • Listing provided courtesy of CRMLS

    Move in special $1,000 off 1st month's rent OAC. This property has been beautifully remodeled, from the exterior of the property to the interior of the units. The unit has an open concept with a separate dining area, boasts an oversized balcony off the living room, and has assigned parking. Other great features include - New luxury and carpet flooring throughout, new paint with custom colors, refaced cabinets with new hardware and new quartz countertops, new designer and decorative light fixtures including ceiling fans. New stainless steel appliances include: stove and dishwasher, new vertical blinds, newly glazed shower/tub combo, large walk-in closet, wall AC unit, spacious and private balcony and onsite laundry facility. This property is ideally located within minutes to multiple parks, elementary and high schools, Saddleback College, golf courses, dining, shopping and the 55 freeway, and so much more!

  • August, 2012

  • Aug 8, 2012

    Date

    Sold (Public Records)

    Public Records

    $300,000

    Price

  • October, 2009

  • Oct 23, 2009

    Date

    Sold (Public Records)

    Public Records

    $1,650,000

    Price

Show More

Tax History for 24502 Bendricon Ln

Assessed Value (2020): $286,347
Year Land Value Improved Value Assessed Value
2020 $123,129 $163,218 $286,347

Home Value Compared to the Market

This property vs the competition

24502 Bendricon Ln sold on January 26, 2024 for 176.48% higher than the current median sold price for the city of Lake Forest which is $1,430,477. The median sold price per/sqft for Lake Forest is $698 and this home is sold at $596.89 per/sqft which puts the price per square foot 14.49% lower than the current median sale per square foot for the city of Lake Forest.

About 24502 Bendricon Ln

Detailed summary of property

24502 Bendricon Ln is a apartment that recently sold in Lake Forest, CA 92630. This apartment offered 10 bedrooms, 8 bathrooms, roughly 6,626 living square feet, and sits on an approximately 17,860 square foot lot. 24502 Bendricon Ln was first listed on ArdentRealEstateGroup.com on August 11, 2023. The homeowner sold the property for $3,750,000. Home in Lake Forest are selling for a median price of $1,430,477 and a median price per square foot of $698. Based on Ardent Real Estate Group's Lake Forest Market Data, this home is sold 176.48% higher than the current median priced home. Local homes that are currently for sale include 124 Pearl Ave, 219 E Bay Ave and 1012 & 1018 Mission Dr. While the average home in Lake Forest, CA is selling in 52 days, 24502 Bendricon Ln has a days on market of 74 days. There are currently 138 homes for sale in the Lake Forest real estate market and 89 of them are single family homes while 43 of them are condos and 6 are townhomes. For more information on this home for sale at 24502 Bendricon Ln Lake Forest, CA 92630 contact Ardent Real Estate Group and we will put you in touch with one of our Lake Forest agents.

Public Facts for 24502 Bendricon Ln

Public county record property details
Beds
--
Baths
--
Year built
1977
Sq. Ft.
6,025
Lot Size
18,198
Stories
2
Type
Apartments (Generic)
Pool
No
Spa
No
County
Orange
Lot#
6
APN
617-441-08

The source for these homes facts are from public records.

92630 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$1,201,000
Median List Price/Sq.Ft.
$643
Median Sold Price
$1,491,500
Median Sold Price/Sq.Ft.
$682
Total Inventory
104
Median Sale to List Price %
99.57%
Avg Days on Market
28
Loan Type
Conventional (51.92%), FHA (1.92%), VA (0%), Cash (30.77%), Other (15.38%)

Thinking of Selling?

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(714) 706-1823

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Recently Sold Homes Near 24502 Bendricon Ln

24512 Bendricon Ln, Lake Forest, CA 92630
$1,931,500 Last Sold Price
11 Beds
11 Baths
5854 Sq.Ft.
24512 Bendricon Ln
Lake Forest, CA 92630
24522 Bendricon Ln, Lake Forest, CA 92630
$2,000,000 Last Sold Price
9 Beds
7 Baths
4566 Sq.Ft.
24522 Bendricon Ln
Lake Forest, CA 92630
23202 Saguaro St, Lake Forest, CA 92630
$1,600,000 Last Sold Price
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8 Baths
4869 Sq.Ft.
23202 Saguaro St
Lake Forest, CA 92630
23191 Saguaro St, Lake Forest, CA 92630
$1,745,000 Last Sold Price
9 Beds
6 Baths
4869 Sq.Ft.
23191 Saguaro St
Lake Forest, CA 92630

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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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