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324 E Leatrice Ln, Anaheim, CA 92802
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324 E Leatrice Ln Anaheim, CA 92802

$3,700,000 Sold Price as of 12/20/2021
  • 24 Beds
  • 14 Baths
  • 9,036 Sq.Ft.
Sold
$3,700,000 Sold Price as of 12/20/2021 Refinance Your Mortgage
Map preview of 324 E Leatrice Ln, Anaheim, CA 92802

Property Overview: 324 E Leatrice Ln Anaheim, CA has 24 bedrooms, 14 bathrooms, 9,036 living square feet and 10,890 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: We are pleased to present 324 East Leatrice Lane, an eight-unit multifamily property located in the City of Anaheim. This asset consists of two 2 bedroom/1 bathroom units, four 3 bedroom/2 bathroom units, and two 4 bedroom/2 bathrooms units. The complex is situated on a lot totaling 0.25 acres. The asset is comprised of one building with a central courtyard. Parking is ample for the residents and guests, with garage parking, assigned, as well as street parking. This property has undergone a full interior and exterior renovation including new floors, cabinets, and countertops. This property is well situated in central Anaheim near major retail, educational, employment opportunities, and Disneyland. Conveniently located near the I-5 and CA-57 Freeways, allow the tenants to connect with the greater Southern California area and beyond. This offering provides an investor the opportunity to acquire a recently renovated and well-maintained apartment property neighborhood with convenient access to a wide variety of activities, transportation and retail amenities.

Listed by Mark Bridge | BRE #01316702 | Mark Bridge, Broker
Last checked: 11 minutes ago | Last updated: March 23rd, 2022 | Source CRMLS | DOM: 57

Home details

Lot Sq. Ft
10,890
HOA Dues
$0/mo
Year built
1963
Garage
8 Car
Property Type:
Multi Family
Status
Sold
MLS#
OC21177981
City
Anaheim
County
Orange
Time on Site
988 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 8
  • Total # of Buildings: 1
  • # of Leased Units: 8
  • # of Electric Meters: 9
  • # of Gas Meters: 9
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,975
  • Total Rent: $1,975
  • Pro Forma/Market Rent: $2,095
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,000
  • Total Rent: $2,000
  • Pro Forma/Market Rent: $2,095
Unit Breakdown 3
  • # of Units: 3
  • # of Beds: 3
  • # of Baths: 2
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,850
  • Total Rent: $8,550
  • Pro Forma/Market Rent: $3,150
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 2
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $3,098
  • Total Rent: $3,098
  • Pro Forma/Market Rent: $3,150
Unit Breakdown 5
  • # of Units: 1
  • # of Beds: 4
  • # of Baths: 2
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $3,200
  • Total Rent: $3,200
  • Pro Forma/Market Rent: $3,400
Unit Breakdown 6
  • # of Units: 1
  • # of Beds: 4
  • # of Baths: 2
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $3,400
  • Total Rent: $3,400
  • Pro Forma/Market Rent: $3,400
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 5.2%
  • Gross Rent Multiplier: 13.9
  • Gross Scheduled Income: $266,676
  • Net Operating Income: $195,870
  • Gross Operating Income: $261,676
  • Vacancy Allowance: $8,000
Annual Expense Breakdown
  • Total Operating Expense: $65,806
  • Electric: $0
  • Gas/Fuel: $482
  • New Taxes: $39,559
  • Trash: $2,000
  • Gardener: $1,000
  • Insurance: $4,140
  • Maintenance: $10,250
  • Professional Management: $3,800
  • Water/Sewer: $1,325
  • Other Expenses: $3,250
  • Other Expense Description: misc.

Property Details for 324 E Leatrice Ln

Interior Features
Laundry Information
  • Has Laundry
  • Common Area
Room Information
  • Flooring: Vinyl
Interior Features
  • Levels: Two
Exterior Features
Exterior Information
  • Roof: Flat
  • Has Fence
  • Excellent Condition
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 8
  • # of Parking Spaces: 16
  • Parking Features: Garage, On Site, Parking Space, Street
Lot Information
  • Lot Features: 6-10 Units/Acre
  • Lot Size Source: Assessor
  • Common Interest: None
Property Information
  • Common Walls: 1 Common Wall
  • Total # of Units: 8
  • Parcel Number: 13733902
  • Year Built Source: Assessor
  • Property is Attached
  • Property Condition: Updated/Remodeled
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Location / Neighborhood
Location Information
  • Directions: North on CA-55, North on I-5, exit Katella, Left on Anaheim Blvd, Left on Leatrice Ln, Destination on Right
Neighborhood Information
  • Community Features: Curbs, Gutters, Sidewalks, Street Lights, Suburban
View more facts & features

Local Anaheim Agent

Sale History for 324 E Leatrice Ln

Last sold for $3,700,000 on December 20th, 2021

  • August, 2021

  • Aug 12, 2021

    Date

    Active

    CRMLS: OC21177981

    $3,732,000

    Price

  • August, 2021

  • Aug 11, 2021

    Date

    Expired

    CRMLS: OC21126671

    $3,788,888

    Price

  • Jul 13, 2021

    Date

    Price Change

    CRMLS: OC21126671

    $3,788,888

    Price

  • Jun 11, 2021

    Date

    Active

    CRMLS: OC21126671

    $3,795,000

    Price

  • Listing provided courtesy of CRMLS

    We are pleased to present 324 East Leatrice Lane, an eight-unit multifamily property located in the City of Anaheim. This asset consists of two 2 bedroom/1 bathroom units, four 3 bedroom/2 bathroom units, and two 4 bedroom/2 bathrooms units. The complex is situated on a lot totaling 0.25 acres. The asset is comprised of one building with a central courtyard. Parking is ample for the residents and guests, with garage parking, assigned, as well as street parking. This property has undergone a full interior and exterior renovation including new floors, cabinets, and countertops. This property is well situated in central Anaheim near major retail, educational, employment opportunities, and Disneyland. Conveniently located near the I-5 and CA-57 Freeways, allow the tenants to connect with the greater Southern California area and beyond. This offering provides an investor the opportunity to acquire a recently renovated and well-maintained apartment property neighborhood near 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 at 324 East Leatrice Lane.

  • June, 2021

  • Jun 8, 2021

    Date

    Expired

    CRMLS: OC21060855

    $3,795,000

    Price

  • Jun 7, 2021

    Date

    Price Change

    CRMLS: OC21060855

    $3,795,000

    Price

  • Jun 7, 2021

    Date

    Active

    CRMLS: OC21060855

    $3,895,000

    Price

  • May 18, 2021

    Date

    Pending

    CRMLS: OC21060855

    $3,895,000

    Price

  • Apr 26, 2021

    Date

    Price Change

    CRMLS: OC21060855

    $3,895,000

    Price

  • Mar 29, 2021

    Date

    Active

    CRMLS: OC21060855

    $3,995,000

    Price

  • Listing provided courtesy of CRMLS

    324 East Leatrice Lane is an eight-unit multifamily property located in the City of Anaheim. This property has an amazing unit mix of 2 - 2Bed / 1Bath units, 4 - 3Bed / 2Bath units, and 2 - 4Bed / 2Bath units. The complex is situated on a lot totaling 0.25 acres with a central courtyard. Ample parking for the residents and guests, with garage parking, assigned, as well as street parking. This property has undergone a full interior and exterior renovation including new floors, cabinets, and countertops. This property is well situated in central Anaheim near major retail, educational, employment opportunities, and Disneyland. Conveniently located near the I-5 and CA-57 Freeways, allow the tenants to connect with the greater Southern California area and beyond. This offering provides an investor the opportunity to acquire a recently renovated and well-maintained apartment property neighborhood with convenient access to a wide variety of activities, transportation and retail amenities.

  • December, 2019

  • Dec 16, 2019

    Date

    Sold

    CRMLS: OC19233101

    $3,148,000

    Price

  • Oct 15, 2019

    Date

    Pending

    CRMLS: OC19233101

    $3,395,000

    Price

  • Oct 1, 2019

    Date

    Active

    CRMLS: OC19233101

    $3,395,000

    Price

  • Listing provided courtesy of CRMLS

    The Leatrice Lane Apartments is an eight-unit apartment building located in the highly desirable rental market of Anaheim, California within the Greater Orange County area. The property offers an attractive unit mix consisting of (2) four bedroom/ two bathroom units, (3) three bedroom/ two bathroom units, (1) three bedroom/ one bathroom unit, and (2) two bedroom/ one bathroom units totaling 9,036 square feet, situated on an 11,014 square foot lot. The property has gone through an extensive remodel of the interiors and exterior. Some interior upgrades include but are not limited to: new kitchens, stainless steel appliances, backsplashes, quartz countertops, new bathrooms, and new flooring. Common area amenities include: fresh landscaping, enclosed garages, and on-site laundry room. This offering represents a rare opportunity for an investor to acquire a turnkey, low expense, stable investment in the desirable rental market of Anaheim at a 5.9% CAP Rate and 13% Total Return on current income. The location offers high visibility in an area known for its strong tenancy, good rent growth, and a historically high occupancy rate.

  • December, 2019

  • Dec 12, 2019

    Date

    Sold (Public Records)

    Public Records

    $3,148,000

    Price

  • June, 2019

  • Jun 16, 2019

    Date

    Expired

    CRMLS: OC19078615

    $3,796,000

    Price

  • Apr 25, 2019

    Date

    Active

    CRMLS: OC19078615

    $3,796,000

    Price

  • Listing provided courtesy of CRMLS

    Leatrice Lane Apartments is a multiunit building in a prime location in the city of Anaheim, CA. Situated on a .26 acre lot, the 9,036-square-foot property is comprised of 8 residences with spacious one, two, three and four-bedroom floorplans. Built in 1963 and extensively remodeled in 2018, the property offers attractive amenities that include onsite laundry, garage parking, outdoor balconies and patios. Interiors have been beautifully transformed to include sleek kitchens with new white shaker cabinetry, quartz countertops, ceiling fans and can lighting, as well as tastefully remodeled bathrooms. Tenants enjoy the property’s close proximity to schools, retail shopping, world-renowned entertainment and exhibit facilities, and the Interstate 5 Freeway. Apartments are separately metered for gas and electric. Excellent monthly cash flow for the investor seeking an ideal residential building opportunity, in a great location just off Haster Street and Orangewood Avenues.

  • September, 2018

  • Sep 17, 2018

    Date

    Sold (Public Records)

    Public Records

    $2,230,000

    Price

  • July, 2018

  • Jul 21, 2018

    Date

    Expired

    CRMLS: OC17265164

    $2,420,000

    Price

  • Jul 13, 2018

    Date

    Active

    CRMLS: OC17265164

    $2,420,000

    Price

  • May 24, 2018

    Date

    Active Under Contract

    CRMLS: OC17265164

    $2,420,000

    Price

  • Nov 28, 2017

    Date

    Active

    CRMLS: OC17265164

    $2,420,000

    Price

  • Listing provided courtesy of CRMLS

    Leatrice Lane Apartments is an 8-unit multifamily investment property located in the city of Anaheim, California. Residents enjoy the property’s close proximity to schools as well as world renowned entertainment, shopping, and exhibit facilities. Situated on a 0.26-acre lot, the 9,036 square foot property consists of one-, two-, three-, and four-bedroom floor plans. Built in 1963, the property offers an attractive range of amenities including on-site laundry, garage parking, balconies, and patios.

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Tax History for 324 E Leatrice Ln

Assessed Value (2020): $2,222,222
Year Land Value Improved Value Assessed Value
2020 $1,400,000 $822,222 $2,222,222

Home Value Compared to the Market

This property vs the competition

324 E Leatrice Ln sold on December 20, 2021 for 333.95% higher than the current median sold price for the city of Anaheim which is $860,000. The median sold price per/sqft for Anaheim is $536 and this home is sold at $413.01 per/sqft which puts the price per square foot 22.95% lower than the current median sale per square foot for the city of Anaheim.

About 324 E Leatrice Ln

Detailed summary of property

324 E Leatrice Ln is a multi family that recently sold in Anaheim, CA 92802. This multi family property offered 24 bedrooms, 14 bathrooms, roughly 9,036 living square feet, and sits on an approximately 10,890 square foot lot. 324 E Leatrice Ln was first listed on ArdentRealEstateGroup.com on August 12, 2021. The homeowner sold the property for $3,700,000. Home in Anaheim are selling for a median price of $860,000 and a median price per square foot of $536. Based on Ardent Real Estate Group's Anaheim Market Data, this home is sold 333.95% higher than the current median priced home. Local homes that are currently for sale include 16861 Green Ln, 205 Huntington St and 206 Chicago Ave. While the average home in Anaheim, CA is selling in 44 days, 324 E Leatrice Ln has a days on market of 57 days. There are currently 223 homes for sale in the Anaheim real estate market and 129 of them are single family homes while 66 of them are condos and 28 are townhomes. For more information on this home for sale at 324 E Leatrice Ln Anaheim, CA 92802 contact Ardent Real Estate Group and we will put you in touch with one of our Anaheim agents.

Public Facts for 324 E Leatrice Ln

Public county record property details
Beds
--
Baths
--
Year built
1963
Sq. Ft.
4,520
Lot Size
11,014
Stories
2
Type
Apartments (Generic)
Pool
No
Spa
No
County
Orange
Lot#
23
APN
137-339-02

The source for these homes facts are from public records.

92802 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$950,000
Median List Price/Sq.Ft.
$512
Median Sold Price
$907,000
Median Sold Price/Sq.Ft.
$660
Total Inventory
26
Median Sale to List Price %
103.19%
Avg Days on Market
24
Loan Type
Conventional (42.86%), FHA (0%), VA (14.29%), Cash (28.57%), Other (14.29%)

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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