2024 E Wilshire Ave
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2024 E Wilshire Ave
4 Unit Block of Flats £1,461,518 (£365,380/Unit) 4.34% Net Initial Yield Fullerton, CA 92831
Investment Highlights
- All 2-Bedroom and 3-Bedroom Units
- SB721 Compliant
- First Time on the Market in Over 55 Years
- New Electrical Panels
- Garage Parking (1.5:1 Parking Ratio)
- ADU Potential
Executive Summary
Morgan Skenderian, Inc., as the exclusive listing agent, presents the opportunity to acquire 2024 E. Wilshire Avenue in Fullerton, California. Built in 1963, and situated on over 8,500 square feet of land, this pride of ownership property features a desirable unit mix consisting of (2) two bedroom/two bathroom units and (2) three bedroom/two bathroom units. Some of the property amenities include an onsite laundry facility, private patios, fireplaces, central heat & A/C and (3) double-car garages for a 1.5 to 1 parking ratio. This property has been professionally managed and meticulously maintained for years, and, just recently, current ownership installed all new electrical sub panels for all 4 units and each laundry room, and replaced the main electrical panel. Further, the property has been inspected by a licensed contractor and are SB721 compliant. All the units are individually metered for electricity and gas.
This property can be purchased with 2030 E. Wilshire Avenue.
This property can be purchased with 2030 E. Wilshire Avenue.
Financial Summary (Actual - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
£94,633
|
£22.55
|
| Other Income |
£2,840
|
£0.68
|
| Vacancy Loss |
£2,924
|
£0.70
|
| Effective Gross Income |
£94,550
|
£22.53
|
| Taxes |
£16,325
|
£3.89
|
| Operating Expenses |
£14,928
|
£3.56
|
| Total Expenses |
£31,253
|
£7.45
|
| Net Operating Income |
£63,297
|
£15.09
|
Financial Summary (Actual - 2024)
| Gross Rental Income | |
|---|---|
| Annual | £94,633 |
| Annual Per SF | £22.55 |
| Other Income | |
|---|---|
| Annual | £2,840 |
| Annual Per SF | £0.68 |
| Vacancy Loss | |
|---|---|
| Annual | £2,924 |
| Annual Per SF | £0.70 |
| Effective Gross Income | |
|---|---|
| Annual | £94,550 |
| Annual Per SF | £22.53 |
| Taxes | |
|---|---|
| Annual | £16,325 |
| Annual Per SF | £3.89 |
| Operating Expenses | |
|---|---|
| Annual | £14,928 |
| Annual Per SF | £3.56 |
| Total Expenses | |
|---|---|
| Annual | £31,253 |
| Annual Per SF | £7.45 |
| Net Operating Income | |
|---|---|
| Annual | £63,297 |
| Annual Per SF | £15.09 |
Property Facts
| Price | £1,461,518 | Apartment Style | Garden |
| Price Per Unit | £365,380 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.20 AC |
| Net Initial Yield | 4.34% | Building Size | 4,196 SF |
| Gross Rent Multiplier | 14.97 | Number of Floors | 2 |
| No. Units | 4 | Year Built | 1963 |
| Property Type | Residential | Parking Ratio | 1.43/1,000 SF |
| Property Subtype | Apartment |
| Price | £1,461,518 |
| Price Per Unit | £365,380 |
| Sale Type | Investment |
| Net Initial Yield | 4.34% |
| Gross Rent Multiplier | 14.97 |
| No. Units | 4 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.20 AC |
| Building Size | 4,196 SF |
| Number of Floors | 2 |
| Year Built | 1963 |
| Parking Ratio | 1.43/1,000 SF |
Unit Amenities
- Air Conditioning
- Balcony
- Fireplace
- Heating
- Ceiling Fans
- Patio
Site Amenities
- Courtyard
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 2+2 | 2 | £1,936 | 927 - 941 |
| 3+2 | 2 | £2,012 | 1,131 - 1,233 |
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Walk Score ®
Very Walkable (70)
PROPERTY TAXES
| Parcel Number | 269-094-03 | Total Assessment | £125,525 (2023) |
| Land Assessment | £41,475 (2023) | Annual Taxes | £16,325 (£3.89/sf) |
| Improvements Assessment | £84,051 (2023) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
269-094-03
Land Assessment
£41,475 (2023)
Improvements Assessment
£84,051 (2023)
Total Assessment
£125,525 (2023)
Annual Taxes
£16,325 (£3.89/sf)
Tax Year
2024
-
Paul Espinosa -
Rick Applebaum -
Morgan-Skenderian Investment Real Estate Group
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2024 E Wilshire Ave
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