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631 W Commonwealth Ave, Fullerton, CA 92832
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631 W Commonwealth Ave Fullerton, CA 92832

$1,125,500 Sold Price as of 02/21/2020
  • 4 Beds
  • 4 Baths
  • 2,551 Sq.Ft.
Sold
$1,125,500 Sold Price as of 02/21/2020 Refinance Your Mortgage
Map preview of 631 W Commonwealth Ave, Fullerton, CA 92832

Property Overview: 631 W Commonwealth Ave Fullerton, CA has 4 bedrooms, 4 bathrooms, 2,551 living square feet and 7,180 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: This is a well located single-story, modern ranch style four-plex in the coveted city of Fullerton, California. The SoCo area is less than half a mile from this property as tenants enjoy a variety of shopping, dining and entertainment establishments in addition to this areas coveted educational institutions and thriving job market. The opportunity is competitively priced while it boasts a 4.4% cap rate on current rents and offers upside. This property is meticulously maintained and offers fantastic curb appeal. Each of the units are large one bedroom, one bathroom apartments; and the building includes four single-car garages. Three of the garages are rented to off-site tenants for storage (with month-to-month lease agreements) providing the investor with additional cash-flow. This is truly an easy to operate, high performing multifamily investment property offered in a high rent demand location. Available with historically low 30-Year fixed rate residential financing; up to 75% LTV. Offers shall be subject to interior inspection; please do not disturb the tenants.

Listed by Michael Sacks | BRE #01945984 | Coldwell Banker Res. Brokerage
Last checked: 1 minute ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 20

Home details

Lot Sq. Ft
7,180
HOA Dues
$0/mo
Year built
1949
Garage
4 Car
Property Type:
Multi Family
Status
Sold
MLS#
PW19282225
City
Fullerton
County
Orange
Time on Site
1415 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 4
  • Total # of Buildings: 1
  • # of Electric Meters: 5
  • # of Gas Meters: 5
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,600
  • Total Rent: $1,600
  • Pro Forma/Market Rent: $1,650
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,450
  • Total Rent: $1,450
  • Pro Forma/Market Rent: $1,650
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,450
  • Total Rent: $1,450
  • Pro Forma/Market Rent: $1,650
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,350
  • Total Rent: $1,350
  • Pro Forma/Market Rent: $1,650
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 4.4%
  • Gross Rent Multiplier: 15
  • Gross Scheduled Income: $77,580
  • Net Operating Income: $51,919
  • Gross Operating Income: $75,253
  • Vacancy Allowance: $2,327
  • # of Rented Garages: 3
  • Garage Rental Rate: $167
  • Garage Rental Income: $500
  • Laundry Income: $115
  • Laundry Own/Lease: Own
Annual Expense Breakdown
  • Total Operating Expense: $23,333
  • Electric: $16
  • Gas/Fuel: $20
  • New Taxes: $13,000
  • Trash: $125
  • Insurance: $1,176
  • Water/Sewer: $125

Property Details for 631 W Commonwealth Ave

Interior Features
Laundry Information
  • Has Laundry
  • Common Area
Interior Features
  • Levels: One
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 4
  • # of Parking Spaces: 4
  • Has Parking
  • Parking Features: Driveway, Garage
Lot Information
  • Lot Features: 0-1 Unit/Acre
  • Lot Size Source: Assessor
  • Common Interest: None
Property Information
  • Common Walls: No Common Walls
  • Total # of Units: 4
  • Parcel Number: 03207325
  • 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
  • Subdivision Name: Other (OTHR)
  • Other Subdivision Name: Commonwealth
  • Directions: East of Euclid on Commonwealth Ave.
Neighborhood Information
  • Community Features: Curbs, Sidewalks
View more facts & features

Local Fullerton Agent

Sale History for 631 W Commonwealth Ave

Last sold for $1,125,500 on February 21st, 2020

  • February, 2020

  • Feb 23, 2020

    Date

    Sold

    CRMLS: PW19282225

    $1,125,500

    Price

  • Jan 22, 2020

    Date

    Pending

    CRMLS: PW19282225

    $1,170,000

    Price

  • Jan 6, 2020

    Date

    Active Under Contract

    CRMLS: PW19282225

    $1,170,000

    Price

  • Dec 17, 2019

    Date

    Active

    CRMLS: PW19282225

    $1,170,000

    Price

  • February, 2020

  • Feb 20, 2020

    Date

    Sold (Public Records)

    Public Records

    $1,125,500

    Price

  • February, 2018

  • Feb 8, 2018

    Date

    Expired

    CRMLS: PW17181281

    $985,000

    Price

  • Aug 29, 2017

    Date

    Withdrawn

    CRMLS: PW17181281

    $985,000

    Price

  • Aug 7, 2017

    Date

    Active

    CRMLS: PW17181281

    $985,000

    Price

  • Listing provided courtesy of CRMLS

    This is a well located single-story four-plex in the coveted city of Fullerton, California. The opportunity is competitively priced as it boasts a 4.6% cap rate on current rents and offers upside. Each of the units are large one bedroom, one bathroom apartments; and the building includes four single-car garages. Three of the garages are rented to off-site tenants with written agreements. This is truly an easy to operate high performing multifamily investment property offered in a high rent demand location. There is unquestionable value in this opportunity and it will sell quickly. Offers shall be subject to interior inspection; please do not disturb the tenants.

  • August, 2003

  • Aug 7, 2003

    Date

    Sold (Public Records)

    Public Records

    $440,000

    Price

Show More

Tax History for 631 W Commonwealth Ave

Assessed Value (2020): $557,366
Year Land Value Improved Value Assessed Value
2020 $473,761 $83,605 $557,366

Home Value Compared to the Market

This property vs the competition

631 W Commonwealth Ave sold on February 21, 2020 for 18.78% 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 $458.64 per/sqft which puts the price per square foot 25.79% lower than the current median sale per square foot for the city of Fullerton.

About 631 W Commonwealth Ave

Detailed summary of property

631 W Commonwealth Ave is a multi family that recently sold in Fullerton, CA 92832. This multi family property offered 4 bedrooms, 4 bathrooms, roughly 2,551 living square feet, and sits on an approximately 7,180 square foot lot. 631 W Commonwealth Ave was first listed on ArdentRealEstateGroup.com on July 4, 2020. The homeowner sold the property for $1,125,500. 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 18.78% higher than the current median priced home. Local homes that are currently for sale include 7122 Natal Dr, 11758 Azalea Ave and 6728 Friends Ave. While the average home in Fullerton, CA is selling in 42 days, 631 W Commonwealth Ave has a days on market of 20 days. There are currently 176 homes for sale in the Fullerton real estate market and 130 of them are single family homes while 35 of them are condos and 11 are townhomes. For more information on this home for sale at 631 W Commonwealth Ave Fullerton, CA 92832 contact Ardent Real Estate Group and we will put you in touch with one of our Fullerton agents.

Public Facts for 631 W Commonwealth Ave

Public county record property details
Beds
--
Baths
--
Year built
1949
Sq. Ft.
2,551
Lot Size
7,539
Stories
1
Type
Triplex (3 Units, Any Combination)
Pool
No
Spa
No
County
Orange
Lot#
4
APN
032-073-25

The source for these homes facts are from public records.

92832 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$828,000
Median List Price/Sq.Ft.
$620
Median Sold Price
$835,000
Median Sold Price/Sq.Ft.
$640
Total Inventory
20
Median Sale to List Price %
101.21%
Avg Days on Market
17
Loan Type
Conventional (54.55%), FHA (0%), VA (0%), Cash (18.18%), Other (27.27%)

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Recently Sold Homes Near 631 W Commonwealth Ave

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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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