Active
$4,160,000
9 Units
4 Beds
3 Baths
9,831 Area(sq.ft.)
Lot: 17,437 Lot Size(sq.ft.)
| Type | # of Units | Bedroom | Bath | Furnished | Rent | Actual Rent | Projected Rent |
|---|---|---|---|---|---|---|---|
| Unit 1 | 1 | 2 | 2 | No | $ 3,700 | $ 3,700 | $ 3,800 |
| Unit 2 | 8 | 2 | 1 | No | $ 20,705 | $ 20,505 | $ 23,040 |
| 9 | 18 | 10 | $ 169,340 | $ 167,740 | $ 188,120 |
| MLS #: | OC25017017MR |
| Days On Market: | 326 |
| Listing Date: | January 22, 2025 |
| County: | Orange County |
| Property Type: | Residential Income |
| Price per ft2: | $ 423 |
| Price per unit: | $ 462,222 |
| Year Built: | 1964 |
Property Details
The Quartz Lane Apartments is a nine-unit apartment community located in the highly desirable submarket of Fullerton within the Greater Orange County area. The property offers a very attractive unit mix consisting of (1) large two-bedroom/ two-bathroom townhouse and (8) large two-bedroom/ one-bathroom units totaling 9,831 square feet, situated over a large 17,437 square foot lot. The property has undergone recent renovations and upgrades of the interiors and exterior. Some upgrades include but are not limited to new windows, new kitchens, new appliances, recessed lighting, new bathrooms, new fencing / gates, new flooring, and new roofs. Tenant amenities include a large, nicely landscaped courtyard, large patios, enclosed garages, on-site laundry rooms, secured Amazon lockers, and large units featuring walk-in closets and double sink vanities. Fullerton is revered as The Education Community , and is home to award-winning public school systems and five universities/colleges, including California State University, Fullerton. The Quartz Lane Apartments offers a rare opportunity for an investor to acquire a well-located, stabilized, turn-key investment property in the desirable rental market of Fullerton, California. The location offers an area known for its strong tenancy, good rent growth, and a historically high occupancy rate.Interested in this Listing?
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Income Details
| Rent Control: | Yes |
| Gross Operating Income: | $ 296,940 |
| Total Annual Expense: | $ 67,145 |
| Net Operating Income: | $ 220,887 |
| Cap Rate: | 5.31% |
| Gross Rent Multiplier: | 14.01 |
Structure
| Community Features: | Sidewalks, Street Lights |
| Sewer: | Public Sewer |
| Water: | Public |
Land & Parking
| Land Lease Type: | Fee |
| Total Parking: | 14 |
Interior
| Laundry: | Community |
| Laundry Income: | 4080.00 |
Exterior
| Pool: | No |
Detailed Map
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Income
