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531 Ridgeway Ln, La Habra, CA 90631
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531 Ridgeway Ln La Habra, CA 90631

$5,025,000 Sold Price as of 09/18/2019
  • 36 Beds
  • 24 Baths
  • 15,300 Sq.Ft.
Sold
$5,025,000 Sold Price as of 09/18/2019 Refinance Your Mortgage
Map preview of 531 Ridgeway Ln, La Habra, CA 90631

Property Overview: 531 Ridgeway Ln La Habra, CA has 36 bedrooms, 24 bathrooms, 15,300 living square feet and 25,700 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: Ridgeway Lane Apartments is an 18-unit multifamily investment property located in La Habra, one of the premier rental markets in Southern California. Built in 1961, Ridgway Lane Apartments offers investors a rare opportunity to acquire 18 units in the highly desirable city of La Habra. Situated on a 0.59-acre lot, the 15,300 square foot property consists of six, one-bedroom units, six, two-bedroom units and six, three-bedroom units. A new owner will have the opportunity to capitalize on strong market trends by increasing in-place rents to market rental rates.

Listed by Tyler Leeson | BRE #01451551 | Marcus & Millichap RE Invest
Last checked: 7 minutes ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 10

Home details

Lot Sq. Ft
25,700
HOA Dues
$0/mo
Year built
1961
Garage
1 Car
Property Type:
Multi Family
Status
Sold
MLS#
OC19140595
City
La Habra
County
Orange
Time on Site
1396 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 18
  • Total # of Buildings: 1
  • # of Electric Meters: 0
  • # of Gas Meters: 0
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 6
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $8,050
  • Total Rent: $8,050
  • Pro Forma/Market Rent: $8,970
Unit Breakdown 2
  • # of Units: 6
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $9,200
  • Total Rent: $9,200
  • Pro Forma/Market Rent: $10,770
Unit Breakdown 3
  • # of Units: 6
  • # of Beds: 3
  • # of Baths: 2
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $10,370
  • Total Rent: $10,370
  • Pro Forma/Market Rent: $12,900
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: --
  • Gross Scheduled Income: $336,440
  • Net Operating Income: $202,599
  • Gross Operating Income: $326,497
Annual Expense Breakdown
  • Total Operating Expense: $123,898
  • Electric: $3,018
  • Gas/Fuel: $3,017
  • Licenses: $4,000
  • New Taxes: $59,682
  • Trash: $4,474
  • Insurance: $5,850
  • Maintenance: $9,000
  • Workman's Comp: $12,000
  • Professional Management: $13,060
  • Water/Sewer: $3,017
  • Other Expenses: $6,780
  • Other Expense Description: other

Property Details for 531 Ridgeway Ln

Interior Features
Laundry Information
  • Has Laundry
  • Community
Interior Features
  • Levels: One, Two
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: Community
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 1
  • # of Parking Spaces: 28
Lot Information
  • Lot Features: Landscaped
  • Lot Size Source: Assessor
Property Information
  • Common Walls: No Common Walls
  • Total # of Units: 18
  • Parcel Number: 01804146
  • Year Built Source: Assessor
  • Property is not Attached
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Location / Neighborhood
Location Information
  • Directions: Cross streets: North Beach Boulevard and West Whittier Boulevard
Neighborhood Information
  • Community Features: Curbs, Sidewalks, Street Lights
View more facts & features

Local La Habra Agent

Sale History for 531 Ridgeway Ln

Last sold for $5,025,000 on September 18th, 2019

  • September, 2019

  • Sep 18, 2019

    Date

    Sold

    CRMLS: OC19140595

    $5,025,000

    Price

  • Jul 11, 2019

    Date

    Pending

    CRMLS: OC19140595

    $5,220,000

    Price

  • Jun 24, 2019

    Date

    Active Under Contract

    CRMLS: OC19140595

    $5,220,000

    Price

  • Jun 14, 2019

    Date

    Active

    CRMLS: OC19140595

    $5,220,000

    Price

Tax History for 531 Ridgeway Ln

Recent tax history for this property
Year Land Value Improved Value Assessed Value
The tax history for this property will expand as we gather information for this property.

Home Value Compared to the Market

This property vs the competition

531 Ridgeway Ln sold on September 18, 2019 for 493.18% higher than the current median sold price for the city of La Habra which is $880,000. The median sold price per/sqft for La Habra is $563 and this home is sold at $341.18 per/sqft which puts the price per square foot 39.4% lower than the current median sale per square foot for the city of La Habra.

About 531 Ridgeway Ln

Detailed summary of property

531 Ridgeway Ln is a multi family that recently sold in La Habra, CA 90631. This multi family property offered 36 bedrooms, 24 bathrooms, roughly 15,300 living square feet, and sits on an approximately 25,700 square foot lot. 531 Ridgeway Ln was first listed on ArdentRealEstateGroup.com on July 20, 2020. The homeowner sold the property for $5,025,000. Home in La Habra are selling for a median price of $880,000 and a median price per square foot of $563. Based on Ardent Real Estate Group's La Habra Market Data, this home is sold 493.18% higher than the current median priced home. Local homes that are currently for sale include 420 S Euclid Ave, 383 W Wilson St and 485 E Washington Blvd. While the average home in La Habra, CA is selling in 64 days, 531 Ridgeway Ln has a days on market of 10 days. There are currently 81 homes for sale in the La Habra real estate market and 46 of them are single family homes while 25 of them are condos and 10 are townhomes. For more information on this home for sale at 531 Ridgeway Ln La Habra, CA 90631 contact Ardent Real Estate Group and we will put you in touch with one of our La Habra agents.

Public Facts for 531 Ridgeway Ln

Public county record property details
Beds
--
Baths
--
Year built
--
Sq. Ft.
--
Lot Size
--
Stories
--
Type
--
Pool
--
Spa
--
County
--
Lot#
--
APN
--

The source for these homes facts are from public records.

90631 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$895,000
Median List Price/Sq.Ft.
$525
Median Sold Price
$950,000
Median Sold Price/Sq.Ft.
$551
Total Inventory
105
Median Sale to List Price %
105.56%
Avg Days on Market
14
Loan Type
Conventional (71.43%), FHA (0%), VA (0%), Cash (8.57%), 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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