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SOLD 12/30/2020
1501 N Brea Boulevard, Fullerton, CA 92835
1
bed
1
bath
11022
ft2
· 79279
ft2 lot
$4,900,000
$454 / ft2
Listing provided courtesy of Listing Broker: Joseph Berkson, Marcus & Millichap RE Invest.
Source CRMLS.
*** SELLER WILL CARRY A NEW FIRST LOAN, INTEREST ONLY, DUE IN 5 YEARS *** The subject property is an outstanding investment opportunity with a stable income stream, rental upside, in-place capital expenditure reserves and an excellent amenity package An investor will reap the immediate benefit of the community Association’s recently approved, massive special assessment that infused its reserves with the addition of over $630,000 to cover the costs of common area maintenance and upgrades that will modernize its hallways, interior lighting and other common areas. Built in 1992, the offering consists of twenty-two 1 bedroom / 1 bath rental condominium units within a sixty-eight unit complex which are distributed throughout three floors of the property. All of the units provide central air conditioning and heating, gas ranges, microwave ovens, dishwashers and large private balconies or patios. Most of the units have either hillside views or views of the neighboring Lions Field sports complex and Hillside Park. This offering provides several unique ownership benefits rarely available in properties in this size: 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.
HOA
$54120/month
On market
3 months
Year built
1992
Property type
Multi-Family
Parking
MLS
OC20147841
Price / Sq.Ft.
$454 / ft2
Status
Closed
Flyhomes Cash Offer
Based on a price of $5,000,000
Rebate:
Cash Offer Costs:
Net Rebate:
Negotiating Power:
Flyhomes Cash Offer
$0
$0
+$2,776/day
$0
Best
Flyhomes Guaranteed Offer
$25,000
- -
$25,000
Better
Discount Brokerage
$20,000
not offered
$20,000
Average
Traditional Brokerage
$0
not offered
$0
Variable
Legal Disclaimer: The Savings Calculator is intended for planning and educational purposes only, and should not be solely relied upon in your decision to participate in Flyhomes’ Cash Offer or other programs.Read more
Property Details
Interior Features & Layout
Appliances
•   
Laundry Details: Community
•   
Appliances: Disposal, Gas Range, Microwave
•   
Has Appliances
•   
Security Features: Automatic Gate, Card/Code Access, Closed Circuit Camera(s), Fire and Smoke Detection System, Fire Sprinkler System, Gated Community, Security System, Smoke Detector(s)
•   
Laundry: 1
Rooms Info
•   
Average3 Bed Area Units: Square Feet
•   
Average Studio Area Units: Square Feet
•   
Average2 Bed Area Units: Square Feet
•   
Average1 Bed Area Units: Square Feet
•   
Room Information: Main Floor Bedroom
•   
Average1 Bed Area: 501
Interior Features
•   
Spa Details: Association, Heated, In Ground
•   
Interior Features: Balcony, Copper Plumbing Full, Elevator, Open Floorplan, Tile Counters, Trash Chute, Unfurnished
•   
Window Features: Screens
•   
Has Spa
Heating & Cooling
•   
Has Heating
•   
Heating Details: Central, Forced Air
•   
Cooling Details: Central Air
Flooring
•   
Flooring: Carpet, Tile
Interior Size
•   
Building Area Total: 11022.00
Property, Lot, Community & Exterior Features
Community Info
•   
Hoa Exists
•   
Road Frontage Type: City Street
•   
Road Surface Type: Paved
•   
Number Of Buildings: 1
•   
Total Units: 22
Parking Info
•   
Garage Spaces: 0.00
•   
Uncovered Spaces: 0.00
•   
Carport Spaces: 0.00
Property Features
•   
View: Hills, Park/Greenbelt
•   
Fencing: Good Condition, Security, Wrought Iron
•   
Accessibility: No Interior Steps
•   
Common Walls: 2+ Common Walls
•   
Pool Details: Association, Filtered, In Ground
Building Info
•   
Building Area Units: Square Feet
•   
Roof: Flat, Mansard
•   
Foundation Details: Raised, Slab
•   
Stories Total: 4
•   
Num Stories: Three Or More
•   
Year Built Source: Public Records
•   
Construction Materials: Drywall Walls
Lot Info
•   
Lot Features: Irregular Lot, Yard
•   
Elevation Units: Feet
•   
Lot Size Acres: 1.8200
•   
Additional Parcels Description: 936-402-10, 936-402-11, 936-402-12, 936-402-13, 936-402-14, 936-402-15, 936-402-16, 936-402-17, 936-402-18, 936-402-19, 936-402-20, 936-402-35, 936-402-36, 936-402-37, 936-402-38, 936-402-40, 936-402-57, 936-402-58, 936-402-61, 936-402-62
•   
Lot Size Area: 79279.0000
•   
Lot Size Units: Square Feet
Property Type
•   
Architectural Style: Cape Cod
•   
Common Interest: Community Apartment
Utilities & Other Information
Utilities
•   
Number Of Separate Electric Meters: 22
•   
Utilities: Cable Connected, Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
•   
Number Of Separate Gas Meters: 22
•   
Number Of Separate Water Meters: 22
Water & Sewer Info
•   
Water Source: Public
•   
Sewer: Public Sewer
Listing Details, Costs & Financing Information
Financial Info
•   
Tenant Pays: All Utilities, Cable TV, Telephone
•   
Gross Operating Income: 397553.00
•   
Water Sewer Expense: 0.00
•   
Tax Annual Amount: 61669.00
•   
Other Expense Description: HOA Dues
•   
Supplies Expense: 7.00
•   
Other Expense: 54120.00
•   
Gross Spendable Income: 68016.00
•   
Vacancy Allowance Rate: 3.00
•   
Licenses Expense: 774.00
•   
Maintenance Expense: 8800.00
•   
Cap Rate: 4.97
•   
Total Actual Rent: 32274.00
•   
Fuel Expense: 0.00
•   
Trash Expense: 0.00
•   
New Taxes Expense: 61669.00
•   
Insurance Expense: 7900.00
•   
Tax Rate: 1.08
•   
Professional Management Expense: 15902.00
•   
Total Expenses: 149165.00
•   
Gross Scheduled Income: 409848.00
•   
Operating Expense: 149165.00
•   
Gross Multiplier: 12.20
•   
Rent Control Yn: 1
Tax/Assessment Info
•   
Gross Income: 387288.00
•   
Tax Year: 2020
•   
Taxes: 1893.74
Lease Info
•   
Net Operating Income: 248388.00
Hoa
•   
Hoa Amenities: Pool, Spa/Hot Tub, Barbecue, Gym/Ex Room, Billiard Room, Card Room, Banquet Facilities, Meeting Room, Cable TV, Maintenance Grounds, Trash, Controlled Access
•   
Hoa Fee Frequency: Monthly
Listing Info
•   
Status: Closed
Other
•   
Electric Expense: 0.00
Multi Unit Information
Unit 1 Information
•   
Unit 1 Bedrooms: 1
•   
Unit 1 Total Units: 22
•   
Unit 1 Furnished Units: Unfurnished
•   
Unit 1 Garage Spaces: 0.00
•   
Unit 1 Bathrooms: 1
•   
Unit 1 Actual Rent: 1552.00
•   
Unit 1 Total Rent: 34154.00
Multi Unit Information
•   
# Of Units: 1
•   
Number With Patio: 22
•   
Number With Dishwasher: 22
•   
Number Of Units Leased: 22
•   
Number With Carpet: 22
•   
Number With Disposal: 22
•   
Number With Range: 22
School Neighborhood & Directions
Location
•   
Other Subdivision Name: Hillcrest Senior Condominiums
•   
Subdivision: Other (OTHR)
•   
Community Features: Foothills, Golf, Hiking, Park, Sidewalks, Suburban
•   
Directions: North on Harbor to Brea Boulevard.
Other
Calculation
•   
Dom: 102
•   
Cdom: 102
The information contained in this listing has not been verified by Flyhomes and should be verified by the buyer.

Data last updated: May 14, 2021 6:22pm
Neighborhood snapshot
26
Properties for sale
5
Median days on market
$436.83
Median sold price/sqft
101.57%
Sold/List %
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Property History
12/30/2020
12/30/2020
Public Record
sold
Public Record
$4,900,000
--2.00%
12/30/2020
12/30/2020
CRMLS #OC20147841
sold
CRMLS #OC20147841
$5,000,000
08/27/2020
08/27/2020
CRMLS #OC20147841
active
CRMLS #OC20147841
$5,000,000
+175.19%
10/10/1996
10/10/1996
Public Record
sold
Public Record
$1,816,933
+188.40%
09/24/1996
09/24/1996
Public Record
sold
Public Record
$630,000
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