Tustin, CA 92780,305 E Third ST
$705,000
Est. payment /mo
$765,000
7.8%
Est.Price: ?

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8,494 Sqft Lot
SOLD DATE : 11/13/2014

Key Details

Sold Price $705,000

Property Type Multi-Family

Listing Status Sold

Purchase Type For Sale

MLS Listing ID NP14211026

Sold Date 11/13/14

HOA Y/N No

Year Built 1965

Lot Size 8,494 Sqft

Property Description

The 3rd Street apartments are a single story triplex in Tustin featuring 1 (2+2) and 2 (2+1) units. The structure is approximately 2,600 square feet and the lot is approximately 8,480 square feet. Unit amenities include, gas cooking, laundry hookups, large living room areas, vaulted ceilings, fenced backyard areas, garage parking, and open parking spaces. Operating costs for the building are low as the units are separately metered for utilities. The only landlord utility expenses are water and trash. The apartments are located in the heart of Tustin as they are situated right behind City Hall, Tustin Library and numerous newer developments which attract quality renters. Long term tenants (25+ years) occupy the apartments so vacancy has never been an issue. This is a value add opportunity as there is significant rental upside to an investor who is willing to upgrade the apartments where necessary. Listed Cap Rate and GRM based on Proforma Rents. Please see the attached marketing proposal for additional details.

Location

State CA

County Orange

Area 71 - Tustin

Interior

Interior Features All Bedrooms Down

Cooling Wall/Window Unit(s)

Flooring Carpet

Fireplaces Type None

Fireplace No

Laundry Washer Hookup, Electric Dryer Hookup

Exterior

Garage Assigned

Garage Spaces 3.0

Garage Description 3.0

Pool None

Community Features Curbs

Utilities Available Sewer Connected

Parking Type Assigned

Total Parking Spaces 5

Private Pool No

Building

Lot Description 0-1 Unit/Acre

Story 1

Entry Level One

Water Public

Level or Stories One

Others

Senior Community No

Tax ID 40159209

Acceptable Financing Cash, Cash to New Loan

Listing Terms Cash, Cash to New Loan

Financing Conventional

Special Listing Condition Standard

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California Regional MLS (CRMLS)
Listed by Michael Arp • Investment Capital Real Estate
Bought with Michael Arp • Investment Capital Real Estat

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Max Chuong Thai

+1(323) 309-3423

Agent | License ID: 02134406

Agent License ID: 02134406

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