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Key Details
Sold Price $900,000
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Sold
Purchase Type For Sale
Subdivision Park Pacific (Pkpc)
MLS Listing ID OC23013488
Sold Date 06/22/23
Condo Fees $1,900
HOA Fees $1,900/mo
HOA Y/N Yes
Year Built 1970
Lot Size 1,498 Sqft
Property Description
Rarely does an investment opportunity like this present itself - a completely maintenance-free fourplex in the resort-like community of Park Pacific. Situated across from the beautiful Mile Square Park, each unit boasts a spacious living room, dining room, covered balcony, and generously-sized bedroom. With one designated carport and storage space per unit, the property is a low-maintenance investment. The owner pays a low HOA fee of $1,900 per month, which includes on-site professional management, advertising, rent collections, water, trash, gas, insurance, exterior landscape, maintenance, pool, spa, and community laundry. Prospective tenants will be attracted to the fact that they only need to pay for their electricity, cable, and internet. Conveniently located close to freeways, parks, and shopping, this property is sold as-is with current leases in place. With only 42 condo fourplexes in Park Pacific West, the owner owns a 1/42nd % FEE interest in the common area. Don't miss out on this fantastic investment opportunity with the potential for a proforma re-rent rate of $2,200.
Location
State CA
County Orange
Area 16 - Fountain Valley / Northeast Hb
Interior
Heating Forced Air
Cooling See Remarks, Wall/Window Unit(s)
Fireplaces Type None
Fireplace No
Laundry Common Area, Inside, Laundry Room
Exterior
Garage Carport
Carport Spaces 4
Pool Association
Community Features Curbs, Storm Drain(s), Street Lights, Sidewalks
Utilities Available Cable Available, Electricity Connected, Sewer Connected
Amenities Available Call for Rules, Gas, Maintenance Grounds, Management, Outdoor Cooking Area, Barbecue, Picnic Area, Pool, Spa/Hot Tub, Trash, Water
Parking Type Carport
Total Parking Spaces 4
Private Pool No
Building
Lot Description 0-1 Unit/Acre
Story Two
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
HOA Name Park Pacific Apartments
HOA Fee Include Sewer
Senior Community No
Tax ID 93029425
Acceptable Financing Cash, Cash to New Loan, 1031 Exchange
Listing Terms Cash, Cash to New Loan, 1031 Exchange
Financing Cash to Loan
Special Listing Condition Standard, Trust
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Bought with Wallace Rodecker • Rodecker, Wallace
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Monique H. Ott-Beacham
Broker | License ID: DRE #01448692
Broker License ID: DRE #01448692