Anaheim CA  home offered at $2,475,000 

Call Lisa DiNoto Group at (909)921-2544 to see this home.

 

2520 E Park Lane
Anaheim, California CA 92806-1637
Price: $2,475,000
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Listing ID: PW19187174
Price/SqFt: $300.58
Status: Active
SqFt: 8,234 Sq Ft
Acres: 0.280 Acres
Year Built: 1993

Built in 1993, this pride of ownership property features (1) one bedroom/one bath unit, and (7) two bedroom/one- and three-quarter bath units, ranging in size from 1,000 square feet to 1,370 square feet. Some of the building’s amenities include an onsite laundry facility, central heat & A/C, balconies, storage lockers, fireplaces (3 units) and vaulted ceilings. There is also a secured parking garage with 18 parking spaces, for a more than 2:1 parking ratio. This is an extremely rare and valuable property characteristic for retaining long term tenancy. This property is also individually metered for gas & electricity, and the units have their own water heaters translating to reduced utility costs for the owner. The combination of exceptionally large units, attractive real estate and ample parking presents the investor the opportunity to increase rents by an estimated 20% without the need for substantial capital improvements. This investment opportunity is also located within an "Opportunity Zone" offering a new Buyer the potential to take advantage of special tax programs along with the benefits of being in a gentrifying location. The Seller has suggested he would also entertain carrying the First Trust Deed for a qualified buyer with an approximate 25-30% down payment, fixed rate, interest only payments. For a qualified Buyer, the seller may be open to seller financing. Approximately 25% down payment, 4.5% fixed rate, interest only payments.

Primary Features

County: Orange
Lot Features: 6-10 Units/Acre
MLS Area Major: 699 - Not Defined
Special Listing Conditions: Standard
Year Built: 1993

Additional

Community Features: Curbs, Sidewalks
Land Lease: no
Laundry Features: Community
Laundry: yes
Lot Size Source: Assessor
Lot Size Units: Square Feet
Number Of Separate Electric Meters: 8
Number Of Separate Gas Meters: 8
Number Of Separate Water Meters: 1
Number Of Units Total: 8
Other Expense Description: Admin
Property Attached: yes
Senior Community: no
Tax Lot: 32
Tax Tract Number: 5501
Vacancy Allowance: 4427
Vacancy Allowance Rate: 3
Water Source: Public
Year Built Source: Other

Interior Features

Common Walls: 1 Common Wall
Garage Spaces: 18
Levels: Two

Financial Details

Cap Rate: 3.9
Electric Expense: 1418
Fuel Expense: 1418
Gross Income: 46778
Gross Multiplier: 16.77
Gross Operating Income: 143160
Gross Scheduled Income: 147588
Insurance Expense: 3293
Laundry Income: 1488
Maintenance Expense: 8583
Net Operating Income: 96278
New Taxes Expense: 26838
Operating Expense: 46882
Other Expense: 500
Price Per Unit: 309375
Rent Control: no
Total Expenses: 46882
Water Sewer Expense: 1418

External Features

Lot Size Area: 12197
Lot Size Square Feet: 12197
Number Of Buildings: 1
Parking Total: 18
Pool Features: None
Private Pool: no
Sewer: Public Sewer

Location Information

Country: US

Zoning Info


© 2019. The multiple listing data appearing on this website is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for the consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the consumer may be interested in purchasing. All data, including but not limited to all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Listing courtesy of Paul Espinosa from Morgan Skenderian . Last updated Saturday, September 21st, 2019.

Contact - Listing ID PW19187174

Lisa DiNoto

8250 White Oak
Rancho Cucamonga, CA 91730
Phone: 9099212544

Data services provided by IDX Broker
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