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1501 N Brea Blvd.

Fullerton, CA 92835
  • $3,800,000
  • STATUS: ACTIVE
  • ON SITE: 22 Days
  • ID#: OC24191167
$3,800,000
  • 1
    BEDS
  • 1.82
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
County:

School Ratings & Info

Description

Hillcrest Senior Condominiums (age 55+) is a multifamily property consisting of 14 total rental units in a 68 unit condominium complex. It provides an investor with a truly unique investment opportunity to acquire a stable income stream, substantial rental upside, a quality location and the numerous advantages that come from being able to sell off individually parceled units. Built in 1992, the property consists of all 1 bedroom / 1 bath rental condominium units within a sixty-eight unit complex which are distributed throughout three floors of the property. This property provides investors with benefits rarely available in rental units in this size range: freedom from direct ownership and responsibilities of common area management and maintenance and a broad range of common amenities such as multiple fitness rooms on each floor, a community room with a full kitchen, media center and pool table, a private park, a pool and spa and laundry rooms and restroom facilities on each floor of the complex. Hillcrest is across from the scenic Hillside Park, filled with mature shade trees, a breathtaking historical fountain, large picnic areas and the Hillcrest Stairs. Shopping, dining and golfing facilities are also conveniently located nearby as is St. Jude Medical Center and the historic Downtown Fullerton. Hillcrest Senior Condominiums (age 55+) is a multifamily property consisting of 14 total rental units in a 68 unit condominium complex. It provides an investor with a truly unique investment opportunity to acquire a stable income stream, substantial rental upside, a quality location and the numerous advantages that come from being able to sell off individually parceled units. Built in 1992, the property consists of all 1 bedroom / 1 bath rental condominium units within a sixty-eight unit complex which are distributed throughout three floors of the property. This property provides investors with benefits rarely available in rental units in this size range: freedom from direct ownership and responsibilities of common area management and maintenance and a broad range of common amenities such as multiple fitness rooms on each floor, a community room with a full kitchen, media center and pool table, a private park, a pool and spa and laundry rooms and restroom facilities on each floor of the complex. Hillcrest is across from the scenic Hillside Park, filled with mature shade trees, a breathtaking historical fountain, large picnic areas and the Hillcrest Stairs. Shopping, dining and golfing facilities are also conveniently located nearby as is St. Jude Medical Center and the historic Downtown Fullerton.

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San Diego MLS logo This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2024 San Diego MLS, Inc. Licensed in the state of California.
www.redtreerealty.com/homes/155263666
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1501 N Brea Blvd. Fullerton, CA 92835

  • Price: $3,800,000
  • Status: ACTIVE
  • On Site: 22 Days
  • ID#: OC24191167
1
Beds
0
Baths
0
½ Baths
1.82
Acres
Neighborhood:
Oc - Fullerton (92835)
County:
Orange
Area:
Oc - Fullerton (92835)
Property Description
Hillcrest Senior Condominiums (age 55+) is a multifamily property consisting of 14 total rental units in a 68 unit condominium complex. It provides an investor with a truly unique investment opportunity to acquire a stable income stream, substantial rental upside, a quality location and the numerous advantages that come from being able to sell off individually parceled units. Built in 1992, the property consists of all 1 bedroom / 1 bath rental condominium units within a sixty-eight unit complex which are distributed throughout three floors of the property. This property provides investors with benefits rarely available in rental units in this size range: freedom from direct ownership and responsibilities of common area management and maintenance and a broad range of common amenities such as multiple fitness rooms on each floor, a community room with a full kitchen, media center and pool table, a private park, a pool and spa and laundry rooms and restroom facilities on each floor of the complex. Hillcrest is across from the scenic Hillside Park, filled with mature shade trees, a breathtaking historical fountain, large picnic areas and the Hillcrest Stairs. Shopping, dining and golfing facilities are also conveniently located nearby as is St. Jude Medical Center and the historic Downtown Fullerton. Hillcrest Senior Condominiums (age 55+) is a multifamily property consisting of 14 total rental units in a 68 unit condominium complex. It provides an investor with a truly unique investment opportunity to acquire a stable income stream, substantial rental upside, a quality location and the numerous advantages that come from being able to sell off individually parceled units. Built in 1992, the property consists of all 1 bedroom / 1 bath rental condominium units within a sixty-eight unit complex which are distributed throughout three floors of the property. This property provides investors with benefits rarely available in rental units in this size range: freedom from direct ownership and responsibilities of common area management and maintenance and a broad range of common amenities such as multiple fitness rooms on each floor, a community room with a full kitchen, media center and pool table, a private park, a pool and spa and laundry rooms and restroom facilities on each floor of the complex. Hillcrest is across from the scenic Hillside Park, filled with mature shade trees, a breathtaking historical fountain, large picnic areas and the Hillcrest Stairs. Shopping, dining and golfing facilities are also conveniently located nearby as is St. Jude Medical Center and the historic Downtown Fullerton.
Exterior Features

Exterior Wood Irrigation Sprinklers Pool Below Ground Spa Community/CommonPrivate Below GroundYes Units With Patios 14

Interior Features

Cooling Central Forced Air Stories 3 Story Total Baths Unit1 1 Units With Range Oven 14 Units With Washers 14

Property Features

Actual Cap Rate 4.75 Age Restrictions Other/Remarks Annual Expense Actual 115893 Buildings 1 Cfd Mello Roos Fee 5243.0 Cfd Mello Roos Fee Reflects Year Gross Rent Multiplier Actual 12.44 Gross Scheduled Income Actual 305412 Home Owners Assoc Fee Includes Gated CommunitySewerTrash Pickup Home Owners Assoc Payment Freq Monthly Home Owners Fees 4004.0 Monthly Total Fees 4440 Possession Close of Escrow Security Automatic GateGated Community Unit Number For Unit1 1 Unit1 Rent Actual 1806.0 Zoning Assessor

San Diego MLS logo Listing provided courtesy of Joseph Berkson of Marcus & Millichap RE Invest: 949-419-3232. Listing information © 2024 San Diego MLS Inc. Source: CRMLS
San Diego MLS logo This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2024 San Diego MLS, Inc. Licensed in the state of California.
 
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