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24522 Bendricon Ln, Lake Forest, CA 92630
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24522 Bendricon Ln Lake Forest, CA 92630

$2,000,000 Sold Price as of 03/23/2022
  • 9 Beds
  • 7.5 Baths
  • 4,566 Sq.Ft.
Sold
$2,000,000 Sold Price as of 03/23/2022 Refinance Your Mortgage
Map preview of 24522 Bendricon Ln, Lake Forest, CA 92630

Property Overview: 24522 Bendricon Ln Lake Forest, CA has 9 bedrooms, 7.5 bathrooms, 4,566 living square feet and 10,817 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: 24522 Bendricon Lane is a 4-unit apartment investment opportunity in the City of Lake Forest. Comprised of highly desirable 2 & 3 bedroom units averaging above 1,100 sq.ft. each. 3 of the 4 floorplans are townhouse style providing tenants a far more comforting style of living. Interiors are efficiently maintained with all units containing ceramic tile flooring in the common areas and one of the units has been fully renovated with new kitchen cabinets, bathroom vanities, quartz countertops and new appliances. Furthermore, the entire building received a full copper replumb of the water lines (2012) and the flat portions of the roof were replaced approximately 7 years ago. The building offers (5) garages spaces, (1) carport and room enough for an additional (6) parking spots creating a 3:1 parking ratio. Amenities include W/D hookups for each unit and private patios and balconies. A projected 53% in rental upside combined with the rareness of available Lake Forest apartment buildings, makes the investment opportunity at 24522 Bendricon Lane an exciting project for the added value investor.

Listed by Rick Applebaum | BRE #01273871 | Morgan Skenderian
Co-listed by Paul Espinosa | BRE #01942627 | Morgan Skenderian
Last checked: 2 minutes ago | Last updated: March 24th, 2022 | Source CRMLS | DOM: 7

Home details

Lot Sq. Ft
10,817
HOA Dues
$0/mo
Year built
1977
Garage
5 Car
Property Type:
Multi Family
Status
Sold
MLS#
PW22019769
City
Lake Forest
County
Orange
Time on Site
835 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 4
  • Total # of Buildings: 1
  • # of Electric Meters: 4
  • # of Gas Meters: 4
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 2
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,950
  • Total Rent: $1,950
  • Pro Forma/Market Rent: $2,400
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 3
  • Garage Spaces: 2
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,840
  • Total Rent: $1,840
  • Pro Forma/Market Rent: $3,000
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 2
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,480
  • Total Rent: $1,480
  • Pro Forma/Market Rent: $2,450
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 2
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,480
  • Total Rent: $1,480
  • Pro Forma/Market Rent: $2,450
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 2.2%
  • Gross Rent Multiplier: 25.86
  • Gross Scheduled Income: $81,000
  • Net Operating Income: $45,174
  • Gross Operating Income: $78,570
  • Vacancy Allowance: $2,430
Annual Expense Breakdown
  • Total Operating Expense: $33,396
  • New Taxes: $21,517
  • Trash: $1,172
  • Gardener: $600
  • Insurance: $1,552
  • Maintenance: $3,929
  • Water/Sewer: $4,276
  • Other Expenses: $350
  • Other Expense Description: Misc

Property Details for 24522 Bendricon Ln

Interior Features
Heating Information
  • Has Heating
  • Central
Laundry Information
  • Has Laundry
  • Gas Dryer Hookup, Washer 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: 12
Lot Information
  • Lot Features: 16-20 Units/Acre, Lot 10000-19999 Sqft
  • Lot Size Source: Assessor
  • Common Interest: None
Property Information
  • Common Walls: 2+ Common Walls
  • Total # of Units: 4
  • Parcel Number: 61744110
  • 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: South of Muirlands Blvd and West of El Toro Rd
Neighborhood Information
  • Community Features: Sidewalks
View more facts & features

Local Lake Forest Agent

Sale History for 24522 Bendricon Ln

Last sold for $2,000,000 on March 23rd, 2022

  • March, 2022

  • Mar 23, 2022

    Date

    Sold

    CRMLS: PW22019769

    $2,000,000

    Price

  • Feb 1, 2022

    Date

    Active

    CRMLS: PW22019769

    $2,095,000

    Price

  • January, 2001

  • Jan 30, 2001

    Date

    Sold (Public Records)

    Public Records

    $450,000

    Price

Show More

Tax History for 24522 Bendricon Ln

Assessed Value (2020): $603,228
Year Land Value Improved Value Assessed Value
2020 $319,711 $283,517 $603,228

Home Value Compared to the Market

This property vs the competition

24522 Bendricon Ln sold on March 23, 2022 for 46.45% 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 $458.83 per/sqft which puts the price per square foot 34.27% lower than the current median sale per square foot for the city of Lake Forest.

About 24522 Bendricon Ln

Detailed summary of property

24522 Bendricon Ln is a multi family that recently sold in Lake Forest, CA 92630. This multi family property offered 9 bedrooms, 7.5 bathrooms, roughly 4,566 living square feet, and sits on an approximately 10,817 square foot lot. 24522 Bendricon Ln was first listed on ArdentRealEstateGroup.com on February 1, 2022. The homeowner sold the property for $2,000,000. 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 46.45% higher than the current median priced home. Local homes that are currently for sale include 246 Walnut St, 233 Costa Mesa St and 222 Costa Mesa St. While the average home in Lake Forest, CA is selling in 52 days, 24522 Bendricon Ln has a days on market of 7 days. There are currently 142 homes for sale in the Lake Forest real estate market and 90 of them are single family homes while 47 of them are condos and 5 are townhomes. For more information on this home for sale at 24522 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 24522 Bendricon Ln

Public county record property details
Beds
--
Baths
--
Year built
1977
Sq. Ft.
4,566
Lot Size
10,817
Stories
2
Type
Quadruplex (4 Units, Any Combination)
Pool
No
Spa
No
County
Orange
Lot#
8
APN
617-441-10

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
$1,298,000
Median List Price/Sq.Ft.
$643
Median Sold Price
$1,491,500
Median Sold Price/Sq.Ft.
$682
Total Inventory
107
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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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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