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3801 Franklin Ave, Fullerton, CA 92833
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3801 Franklin Ave Fullerton, CA 92833

$4,450,000 Sold Price as of 08/13/2021
  • 34 Beds
  • 27 Baths
  • 12,150 Sq.Ft.
Sold
$4,450,000 Sold Price as of 08/13/2021 Refinance Your Mortgage
Map preview of 3801 Franklin Ave, Fullerton, CA 92833

Property Overview: 3801 Franklin Ave Fullerton, CA has 34 bedrooms, 27 bathrooms, 12,150 living square feet and 16,439 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: The subject property is a beautiful newly constructed 7-unit townhouse style apartment building located at 3801 Franklin Avenue in the city of Fullerton. Completed in 2020, this property is composed of a single three-story structure with approximately 12,150 square feet of rentable space sitting on a parcel of approximately 16,439 square feet. The units at this property are significantly larger than other for-rent units typically found in the market and are perfectly positioned for multi-generational families and work-from-home roommate environments. Six of the units are large 5-bedroom, 3.75 bath units of 1,750 SF and the one remaining unit is a 4-bedroom, 3 bath unit of 1,650 SF. The 4-bedroom unit has been designated as an affordable housing unit. Lease up for this property started in October of 2020 and the building was fully rented by December of 2020. For-rent townhomes of this size and bedroom count are extremely hard if not impossible to find in central Orange County, especially in newly constructed buildings. As such, these units fill a unique niche in the market that could certainly be advantageous for a new owner as families and groups of renters consolidate in the coming years. The demand for multi-generational housing accommodations has vaulted in popularity and these large units certainly help fill this need. Each unit in this building benefits from an attached two-car garage with immediate access to the living space. There are four additional surface parking spaces for guests and overflow parking. All units have two private balconies, a fenced in private patio area, central heating and air conditioning and an open kitchen layout with a large kitchen island. Washer/dryer hookups are provided in a full laundry room on the third floor of each unit and the bedroom and bathroom on the first floor of each unit is ADA compliant. Additionally, to the rear of the property is a small playground area for children. Tenants are responsible for their own electricity and gas bills and they are billed separately by sub-metering company Minol for water, sewer and trash. The neighborhood surrounding the subject property is residential in nature and is composed primarily of well-maintained single-family homes and small apartment buildings. The property is located only blocks to the north of the I-5 and 91 freeway interchange and access to these important arterials is excellent.

Listed by Matthew Wenzel | BRE #01198357 | Marcus & Millichap
Last checked: 14 minutes ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 8

Home details

Lot Sq. Ft
16,439
HOA Dues
$0/mo
Year built
2020
Garage
14 Car
Property Type:
Multi Family
Status
Sold
MLS#
PW21106449
City
Fullerton
County
Orange
Time on Site
1081 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 7
  • Total # of Buildings: 1
  • # of Leased Units: 7
  • # of Electric Meters: 7
  • # of Gas Meters: 7
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 6
  • # of Beds: 5
  • # of Baths: 4
  • Garage Spaces: 2
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $3,595
  • Total Rent: $21,675
  • Pro Forma/Market Rent: $3,700
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 4
  • # of Baths: 3
  • Garage Spaces: 2
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,998
  • Total Rent: $2,998
  • Pro Forma/Market Rent: $2,998
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 4.74%
  • Gross Rent Multiplier: 14.52
  • Gross Scheduled Income: $296,076
  • Net Operating Income: $203,742
  • Gross Operating Income: $287,194
  • Vacancy Allowance: $8,882
Annual Expense Breakdown
  • Total Operating Expense: $83,452
  • Electric: $2,000
  • Gas/Fuel: $0
  • New Taxes: $49,450
  • Trash: $0
  • Gardener: $2,400
  • Insurance: $2,772
  • Maintenance: $11,800
  • Professional Management: $11,800
  • Water/Sewer: $0
  • Other Expenses: $3,230
  • Other Expense Description: Misc/Res

Property Details for 3801 Franklin Ave

Interior Features
Cooling Information
  • Has Cooling
  • Central Air
Heating Information
  • Has Heating
  • Central
Laundry Information
  • Has Laundry
  • Gas Dryer Hookup, Individual Room, Washer Hookup
Interior Features
  • Balcony
  • Levels: One
Exterior Features
Exterior Information
  • Roof: Bitumen, Flat
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 14
  • # of Parking Spaces: 18
  • Has Parking
  • Parking Features: Garage
Lot Information
  • Lot Features: 16-20 Units/Acre
  • Lot Size Source: Assessor
  • Common Interest: None
Property Information
  • Common Walls: 2+ Common Walls, No One Above, No One Below
  • Total # of Units: 7
  • Parcel Number: 07022223
  • Year Built Source: Builder
  • Property is Attached
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Association Amenities: Playground
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Location / Neighborhood
Location Information
  • Subdivision Name: Other (OTHR)
  • Other Subdivision Name: Franklin
  • Directions: Franklin just west of Magnolia
Neighborhood Information
  • Community Features: Suburban
View more facts & features

Local Fullerton Agent

Sale History for 3801 Franklin Ave

Last sold for $4,450,000 on August 13th, 2021

  • August, 2021

  • Aug 13, 2021

    Date

    Sold

    CRMLS: PW21106449

    $4,450,000

    Price

  • May 27, 2021

    Date

    Pending

    CRMLS: PW21106449

    $4,300,000

    Price

  • May 18, 2021

    Date

    Active

    CRMLS: PW21106449

    $4,300,000

    Price

  • February, 2021

  • Feb 13, 2021

    Date

    Leased

    CRMLS: PW20203851

    $3,395

    Price

  • Sep 30, 2020

    Date

    Price Change

    CRMLS: PW20203851

    $3,595

    Price

  • Sep 29, 2020

    Date

    Active

    CRMLS: PW20203851

    $3,300

    Price

  • Listing provided courtesy of CRMLS

    Brand new townhouse style aparments ready for move in. The complex was just completed and offers lots of ammenities: 5 bedrooms and 4 full bathrooms, 2-car attached garage, Forced air conditioning throughout, In unit laundry room, Island kitchen, two balconies, Lower level patio.

  • April, 2018

  • Apr 9, 2018

    Date

    Sold

    CRMLS: PW17240933

    $900,000

    Price

  • Dec 14, 2017

    Date

    Active Under Contract

    CRMLS: PW17240933

    $975,000

    Price

  • Oct 20, 2017

    Date

    Active

    CRMLS: PW17240933

    $975,000

    Price

  • Listing provided courtesy of CRMLS

    The subject property is a ±16,439 SF infill parcel of land located at 3801 Franklin Ave in the very desirable north Orange County city of Fullerton. The site is rectangular in shape with flat terrain and approximately 86.5’ of frontage on Franklin Avenue. All utilities are already to the site. At the present time, there is a small single-family dwelling (teardown) located on the property. This house was built in 1931 and is currently occupied by a tenant who is on a month-to-month lease. Zoning on this site is R3 Medium Density Residential which allows for densities of up to 28 dwelling units per acre. Given this zoning classification and a gross parcel size of ±0.38 acres, a developer could theoretically build 8-10 units on this site. This site is located on Franklin Ave just to the west of busy Magnolia Ave. The neighborhood surrounding the subject property is primarily residential in nature. The site is also one block to the north of Buena Park High School and is also only blocks away from the I-5 and 91 freeways. The city of Fullerton is a high-demand residential market that is extremely supply restricted in regard to new development opportunities. Small multi-family development sites such as the subject property are very difficult to find and this site will present a great opportunity for a developer to build a small infill residential project.

  • April, 2018

  • Apr 6, 2018

    Date

    Sold (Public Records)

    Public Records

    $900,000

    Price

  • January, 2006

  • Jan 25, 2006

    Date

    Sold (Public Records)

    Public Records

    $775,000

    Price

Show More

Tax History for 3801 Franklin Ave

Assessed Value (2020): $1,627,501
Year Land Value Improved Value Assessed Value
2020 $907,622 $719,879 $1,627,501

Home Value Compared to the Market

This property vs the competition

3801 Franklin Ave sold on August 13, 2021 for 336.55% higher than the current median sold price for the city of Fullerton which is $985,000. The median sold price per/sqft for Fullerton is $618 and this home is sold at $353.91 per/sqft which puts the price per square foot 42.73% lower than the current median sale per square foot for the city of Fullerton.

About 3801 Franklin Ave

Detailed summary of property

3801 Franklin Ave is a multi family that recently sold in Fullerton, CA 92833. This multi family property offered 34 bedrooms, 27 bathrooms, roughly 12,150 living square feet, and sits on an approximately 16,439 square foot lot. 3801 Franklin Ave was first listed on ArdentRealEstateGroup.com on May 18, 2021. The homeowner sold the property for $4,450,000. Home in Fullerton are selling for a median price of $985,000 and a median price per square foot of $618. Based on Ardent Real Estate Group's Fullerton Market Data, this home is sold 336.55% higher than the current median priced home. Local homes that are currently for sale include 1236 E 1st St, 433 W 7th St and 210 Grant St. While the average home in Fullerton, CA is selling in 41 days, 3801 Franklin Ave has a days on market of 8 days. There are currently 176 homes for sale in the Fullerton real estate market and 127 of them are single family homes while 37 of them are condos and 12 are townhomes. For more information on this home for sale at 3801 Franklin Ave Fullerton, CA 92833 contact Ardent Real Estate Group and we will put you in touch with one of our Fullerton agents.

Public Facts for 3801 Franklin Ave

Public county record property details
Beds
2
Baths
1
Year built
1931
Sq. Ft.
908
Lot Size
16,439
Stories
1
Type
Multi-Family Dwellings (Generic, Any Combination 2+)
Pool
No
Spa
No
County
Orange
Lot#
--
APN
070-222-23

The source for these homes facts are from public records.

92833 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$989,000
Median List Price/Sq.Ft.
$602
Median Sold Price
$915,000
Median Sold Price/Sq.Ft.
$618
Total Inventory
67
Median Sale to List Price %
102.82%
Avg Days on Market
15
Loan Type
Conventional (37.5%), FHA (3.13%), VA (0%), Cash (31.25%), Other (28.13%)

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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