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Listing Details

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School Ratings & Info

Description

A well-maintained residential income property with 2 of 3 units vacant for an immediate upside to obtain current market rents. Sellers will consider a 2 year lease-back at $3,050.00 a month for the 3 beds / 2 baths with garage facing Grace Ave! The duplex total approx. sf is 3,362 sits on a corner lot of approx. 6,372 sf. Buyer to verify SF. The additional 2-level dwelling was built in December of 1998. All units have HVAC. Property consists of (two) 3 beds / 2 baths units with 2 garages and (one) unpermitted 2 beds / 2 baths unit with a carport. Original home facing Grace Ave is approx.1,120 sf, the 8601 La Salle 1st level is approx. 1,106 sf and 2nd level is approx. 1,125 sf. The 1st floor unit facing La Salle was permitted as a large bonus room and was later converted to an unpermitted 2 beds / 2 baths with a kitchen. The original home on Grace Ave is separated by 2 garages from the 2nd dwelling addition. The 1st floor unit and the 2nd floor unit have separate entry doors for privacy with quality kitchens. Garages are finished with drywall. The exterior landscape is attractive with minimal maintenance. New carpet in the 2 combined dwellings and the Grace Ave's carpet is 2 years installed. Two electric meters, two gas meters and two water meters. 1 meter each for 4891 Grace and 1 meter each that services both the 1st and 2nd level dwelling on 8601 La Salle St. Install innovative utility submetering devices to bill each tenant on the La Salle Units.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2021-09-19T18:26:50.17. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Wendy Rich-Soto and Associates | Keller Williams Realty, South Bay. Licensed in the State of California, USA.
www.sellinglasouthbay.com/homes/119133308
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4891 Grace Avenue Cypress, CA 90630

  • Price: $1,475,000
  • Status: Active
  • Updated: 45 min ago
  • ID#: V1-6965
0
Beds
0
Baths
0
½ Baths
0.15
Acres
1946
Built
Neighborhood:
Other
County:
Orange
Area:
80 - Cypress North of Katella
Property Description
A well-maintained residential income property with 2 of 3 units vacant for an immediate upside to obtain current market rents. Sellers will consider a 2 year lease-back at $3,050.00 a month for the 3 beds / 2 baths with garage facing Grace Ave! The duplex total approx. sf is 3,362 sits on a corner lot of approx. 6,372 sf. Buyer to verify SF. The additional 2-level dwelling was built in December of 1998. All units have HVAC. Property consists of (two) 3 beds / 2 baths units with 2 garages and (one) unpermitted 2 beds / 2 baths unit with a carport. Original home facing Grace Ave is approx.1,120 sf, the 8601 La Salle 1st level is approx. 1,106 sf and 2nd level is approx. 1,125 sf. The 1st floor unit facing La Salle was permitted as a large bonus room and was later converted to an unpermitted 2 beds / 2 baths with a kitchen. The original home on Grace Ave is separated by 2 garages from the 2nd dwelling addition. The 1st floor unit and the 2nd floor unit have separate entry doors for privacy with quality kitchens. Garages are finished with drywall. The exterior landscape is attractive with minimal maintenance. New carpet in the 2 combined dwellings and the Grace Ave's carpet is 2 years installed. Two electric meters, two gas meters and two water meters. 1 meter each for 4891 Grace and 1 meter each that services both the 1st and 2nd level dwelling on 8601 La Salle St. Install innovative utility submetering devices to bill each tenant on the La Salle Units.
Exterior Features

Carport Spaces 2 Carport YN Yes Entry Level 1 Fencing None Foundation Details RaisedSlab Lot Features Sprinklers None Number Of Separate Electric Meters 2 Parking Features ConcreteDoor-MultiGarageGarage Door OpenerOn Street Parking Total 6 Pool Features None Pool Private YN No Property Attached YN Yes Road Frontage Type City Street Roof Common RoofShingle Spa Features None Spa YN No View None View YN No

Interior Features

Appliances DishwasherGas CooktopGas Oven Common Walls 1 Common Wall Cooling Central Air Cooling YN Yes Fireplace Features None Fireplace YN No Heating Central Heating YN Yes

Property Features

Community Features Curbs Current Financing Other Exclusions Classic Car in The Garage Of Vacant UnitsAll Personal Property Of SellersRadio Mounted inside Kitchen Cabinet in The Owner-Occupied UnitCordless Tool Rack in The GarageMobile Granite Cutting Board in Owner-Occupied UnitRefrigerator in Owner-Occupied Unit. Garage YN Yes Gross Income 105000 Gross Scheduled Income 150000 Inclusions All Built-In Kitchen Appliances (There Are No Refrigerators in Both Vacant Units)White Built-In Garage Shelving/Cabinets in Owner-Occupied Garage. Insurance Expense 1200 Land Lease YN No Laundry Features Gas Dryer Hookup Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashConventionalSubmit Net Operating Income 86300 Number Of Separate Gas Meters 2 Number Of Separate Water Meters 2 Operating Expense 18700 Possession See Remarks Rent Control YN No Senior Community YN No Special Listing Conditions Standard Trash Expense 100 Zoning Sfr

Listing provided courtesy of Steven Canchola of Real Investments


Based on information from California Regional Multiple Listing Service, Inc. as of 2021-09-19T18:26:50.17. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Wendy Rich-Soto and Associates | Keller Williams Realty, South Bay. Licensed in the State of California, USA.
 
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Wendy Rich-Soto and Associates | Keller Williams Realty, South Bay
23670 Hawthorne Blvd. #100
Torrance CA, 90505