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Team Capizzi

Justin Capizzi
Huntington Beach, CA 92647
Office: 714-637-1200
Cell: 714-448-4488
Fax: 714-637-1221
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CA DRE# 01793527

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Listing 1 out of 500
$899,000 For Sale

227 W Mayfair Avenue
Orange, CA 92867

3 units | Multi Family Home
6525 sq ft lot - MLS# OC19193079
Property Photo
1/14

Description

is pleased to present an opportunity to acquire a three-unit apartment building in the city of Orange. The building consists of one 2B/1BA unit and two 1BA/1BA units. The property is separately metered for gas and electric and has individual water heaters for each unit, and included owner owned laundry machine. Each unit comes with an large separate enclosed garage with plenty of storage. The property has gone through major exterior renovation by the current owner. Details of the rehab are included within the offering memorandum. Please contact listing agent for package. This opportunity allows an investor to acquire an asset in a sub-market of Orange that historically is in high demand with only a handful of buildings selling each year. An investor can raise total returns by simply raising rents to market given the demand in that area. Furthermore, with the improvements made a prospective investor would be acquiring a property that has gone through an extensive rehab providing great curb appeal for prospective tenants. Located off Mayfair and Glassell, this property is only a short walk, or bike ride to Chapman University or Downtown Orange.

Features

  • Property Type: Multi Family Home
  • Sub Type: Multi Family Home
  • Listing Status: Active
  • Zip Code: 92867
  • Year Built: 1955
  • Units: 3 units
  • # of Parking Spaces: 4.00
  • Lot Size: 6525 sq ft lot
  • Area: 699 - Not Defined
  • Average Studio Area Units: Square Feet
  • Average2Bed Area Units: Square Feet
  • Average3Bed Area Units: Square Feet
  • Building Area Total: 2340.00
  • Building Area Units: Square Feet
  • Community Features: Suburban
  • Country: US
  • Directions: 22 Exit Glassell Head North Left on Mayfair, 57 Exit Katella Head East, Right on Glassell, Right on Mayfair
  • Electric Expense: 420.00
  • Garage Spaces: 3.00
  • Gross Income: 59340.00
  • Gross Scheduled Income: 59340.00
  • Insurance Expense: 900.00
  • Laundry Features: Common Area, Dryer Included, Washer Included
  • Laundry YN: Yes
  • Listing Agent License: 01859094
  • Listing Office License: 00530854
  • Lot Features: 0-1 Unit/Acre
  • Lot Size Area: 6525.0000
  • Lot Size Source: Assessor
  • Lot Size Units: Square Feet
  • MLS: CRM
  • Maintenance Expense: 1500.00
  • Net Operating Income: 39990.00
  • New Taxes Expense: 10252.00
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 4
  • Number Of Separate Gas Meters: 3
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 3
  • Operating Expense: 15372.00
  • Other Expense: 500.00
  • Other Expense Description: Misc.
  • Sewer: Public Sewer
  • Total Actual Rent: 4550.00
  • Total Expenses: 15372.00
  • Trash Expense: 556.00
  • Uncovered Spaces: 1.00
  • Water Sewer Expense: 1244.00
  • Water Source: Public
  • Year Built Source: Assessor
Courtesy of Marcus & Millichap Re Invest, Sheil Stampwala



Justin Capizzi & Team Capizzi | CA DRE# 01793527 | 714-448-4488 | Contact Us
17682 Beach Blvd, Suite 101 - Huntington Beach, CA 92647
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