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Listed by Scott Gerard • Gerard Properties Inc.
$3,190,000
Est. payment /mo
5,476 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
Square Footage 5,476 sqft
Price per Sqft $582
MLS Listing ID OC-26168756
Year Built 1967
Lot Size 0.486 Acres
Property Sub-Type Quadruplex
Source California Regional Multiple Listing Service (CRMLS)
Property Description
Rare Opportunity: Two Orange Fourplexes on Two Expansive Separate Lots - Conventional Residential Financing Available – No Commercial
Loan Required! 219 & 229 S. Oak Street present an exceptionally rare opportunity to acquire two contiguous fourplexes being sold together.
219 Oak was built in 1967 and 229 Oak was built in 1957. Each property consists of only four residential units, each building qualifies for its own conventional conforming residential financing, eliminating the need for commercial financing and providing investors with more attractive lending options. Together, the properties comprise 8 apartment units situated on two separate parcels totaling approximately 21,168 square feet. This unique
offering allows an investor to benefit from the economies of scale associated with a larger apartment investment while maintaining the
flexibility and financing advantages of owning two separate four-unit properties. Each fourplex consists of three 1-bedroom/1-bathroom units
and one 2-bedroom/1-bathroom unit, with approximately 2,738 square feet of living space per building.
Located at the end of a cul-de-sac, the two buildings face one another across a beautifully landscaped shared courtyard enclosed by a classic
white picket fence. This charming cottage-style setting creates exceptional curb appeal and provides residents with an inviting community
atmosphere rarely found in apartment properties.
Situated in one of Orange County's most desirable rental markets, this offering combines strong tenant appeal, long-term investment stability,
and outstanding upside potential. Residents enjoy amenities that have become increasingly difficult to find in today's rental market:
Private enclosed garages with metal roll-up doors and automatic openers
One dedicated parking space directly in front of each garage In-unit washer/dryer hookups and Individual water heaters in each unit Private concrete patios and enclosed yard areas accessed through sliding glass doors From an ownership perspective, the properties offer an efficient expense structure. Residents pay for their own natural gas service, there are no house gas or house electric meters, and owner-paid expenses are generally limited to water, trash, and landscaping. In addition, new electrical subpanels have recently been installed, providing a valuable capital improvement. Opportunities to acquire adjacent fourplexes of this quality and scale in such a prime Orange location are exceptionally rare.
Loan Required! 219 & 229 S. Oak Street present an exceptionally rare opportunity to acquire two contiguous fourplexes being sold together.
219 Oak was built in 1967 and 229 Oak was built in 1957. Each property consists of only four residential units, each building qualifies for its own conventional conforming residential financing, eliminating the need for commercial financing and providing investors with more attractive lending options. Together, the properties comprise 8 apartment units situated on two separate parcels totaling approximately 21,168 square feet. This unique
offering allows an investor to benefit from the economies of scale associated with a larger apartment investment while maintaining the
flexibility and financing advantages of owning two separate four-unit properties. Each fourplex consists of three 1-bedroom/1-bathroom units
and one 2-bedroom/1-bathroom unit, with approximately 2,738 square feet of living space per building.
Located at the end of a cul-de-sac, the two buildings face one another across a beautifully landscaped shared courtyard enclosed by a classic
white picket fence. This charming cottage-style setting creates exceptional curb appeal and provides residents with an inviting community
atmosphere rarely found in apartment properties.
Situated in one of Orange County's most desirable rental markets, this offering combines strong tenant appeal, long-term investment stability,
and outstanding upside potential. Residents enjoy amenities that have become increasingly difficult to find in today's rental market:
Private enclosed garages with metal roll-up doors and automatic openers
One dedicated parking space directly in front of each garage In-unit washer/dryer hookups and Individual water heaters in each unit Private concrete patios and enclosed yard areas accessed through sliding glass doors From an ownership perspective, the properties offer an efficient expense structure. Residents pay for their own natural gas service, there are no house gas or house electric meters, and owner-paid expenses are generally limited to water, trash, and landscaping. In addition, new electrical subpanels have recently been installed, providing a valuable capital improvement. Opportunities to acquire adjacent fourplexes of this quality and scale in such a prime Orange location are exceptionally rare.
Location
State CA
County Orange
Area Oto - Old Towne Orange
Interior
Heating Wall Furnace
Fireplaces Type None
Laundry Gas Dryer Hookup, Washer Hookup
Exterior
Garage Spaces 8.0
Pool None
Community Features Curbs, Gutters, Sidewalks
Building
Lot Description Cul-De-Sac, Sprinkler System, 0-1 Unit/Acre
Sewer Public Sewer
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John R Thompson
Broker/Owner | License ID: 01200900
Broker/Owner License ID: 01200900