$5,500,000 738 W La Jolla Street Placentia, CA

MLS: OC18089158   Type: Pending   County: Orange   City: Placentia   Neighborhood: Other   Zip: 92870     Stories: 3

Mortgage $25,822 /mo



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CLASS A BUILDING! We are pleased to present a 10 Unit Brand New multifamily property located in the City of Placentia. Situated on almost half an acre lot, the property consists of eight four-bedroom tri-level townhouse style units with two bath each, and two owner style four bedroom tri-level townhouse style units with two and a half bath units. Built in 2018, the ten townhome units offer private garage parking with direct access, ample storage, new appliances, central A/C and Heat, and modern Kitchen and Bathrooms. The units are equipped with brand new interior finishes which include granite counter tops, wooden cabinets, and beautiful flooring throughout. Each unit has their own Garage, Patio, & Balcony. All units are multi-level and separately metered for gas, electric, and water as well. Each unit has their own Washer and Dryer and extra storage closets. The Seller is finishing construction and will have certificates of occupancy by end of May, but is selling now. COE to take place after CO is received. A Buyer has the opportunity to fill up themselves with their own tenants. The Best Rent Comp is for the same style building, just built in 2017 only 50 yards away. They are getting $2,900, so if this building gets the same, you are at 4.5+% CAP Rate for New Construction in Orange County. In addition, the Price/SF is Under $300/SF for New Construction! We have digital building plans, and appraisal at $5mil from 2016 (2 years old), another reason why $5.5mil.

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Price History

4/23/2018 Listed $5,500,000

Attached Structure Attached
Community Features Curbs, Gutters, Sidewalks, Storm Drains, Street Lighting
Directions 57 North - Right on W Orangethorpe Ave - Right on Tafolla St - Right on W La Jolla St.
HOA Fee 0.00
Levels Three Or More
Listing Agent Mark Bridge - BRE#01316702
Listing Agent State License 01316702
MLS Area 84 - Placentia
Number of Units Leased 0
Price Per Square Foot 284.50
Property Attached Y/N Yes
Senior Community Y/N No
Special Listing Conditions Standard
Subdivision Other (OTHR)
Subdivision Name La Jolla Street Apartments
Total Units 10

Interior Features

1st Bedroom Area Unit Type Square Feet
2nd Bedroom Area 1933
2nd Bedroom Area Unit Type Square Feet
3rd Bedroom Area Unit Type Square Feet
Air Conditioning Y/N Yes
Appliances Dishwasher, Garbage Disposal, Gas Oven, Gas Range, Gas Stove, Gas Water Heater, Range/Stove Hood, Refrigerator
Appliances Y/N Yes
Common Walls 1 Common Wall, No One Above, No One Below
Cooling Central
Dishwasher Count 10
Garbage Disposal Count 10
Heating Central Furnace
Heating Y/N Yes
Interior Features Balcony, Granite Counters, Pantry, Storage Space
Laundry Features Dryer Included, Inside, Washer Included
Laundry Y/N Yes
Range Count 10
Refrigerator Count 10
Room Type Walk-In Closet
Studio Area Unit Type Square Feet
Total Stories 3

Exterior Features

Building Area Total 19332.00
Garage Spaces 10.00
Land Lease Y/N No
Lot Features 6-10 Units/Acre
Lot Size Source Assessor
Lot Size Square Feet 21344.40
Lot Size Units Acres
Number of Buildings 2
Number of Separate Electric Meters 11
Number of Separate Gas Meters 10
Number of Separate Water Meters 10
Parking Features Direct Garage Access, Garage
Parking Y/N Yes
Patio Count 10
Pool Features None
Private Pool Y/N No
Road Surface Type Paved
Total Parking 10.00
Water Source Public

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Property vs Zip Code Avg (92870)

Price 5.50M Avg 791K

Sqr Feet 19,332 Avg 2,427

Cost / Sqr Ft $285 Avg $326

Acres 0.49 Avg 0.14

Visits 103 Avg 84

Days on Site 153 Avg 56

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Listing Provided Courtesy Of: Mark Bridge with Marcus & Millichap RE Invest.

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Location & Address

Liz Peters
2973 Harbor Blvd. #532
Costa Mesa, CA

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