3112 Pearl Dr 4 Unit Apartment Building $2,304,482 CAD ($576,121 CAD/Unit) 4.25% Cap Rate Fullerton, CA 92831
EXECUTIVE SUMMARY
The subject property features an extremely desirable unit mix comprised exclusively of spacious two-bedroom/two-bathroom units totaling approximately 955 square feet each. Situated on a large 8,712 square foot lot, 3112 Pearl Dr provides residents with amenities such as on-site laundry, (6) garage parking spaces, (1) open parking space, private patios, private balconies and proximity to Pearl Park which features a playground, barbecue pits, and picnic tables for residents to enjoy a nice outing.
3112 Pearl Dr also benefits from its strong location within the Fullerton sub-market being located near multiple shopping centers providing residents an abundance of shopping, entertainment, and dining options. The subject property is also located near numerous educational institutions such as Kraemer Middle School, Valencia High School, and Cal State Fullerton. Taking into consideration the subject property’s strong in-place rental income and 18% upside in rents, 3112 Pearl Dr offers a subsequent owner an appealing opportunity to take advantage of the strong rental demand in the City of Fullerton.
3112 Pearl Dr also benefits from its strong location within the Fullerton sub-market being located near multiple shopping centers providing residents an abundance of shopping, entertainment, and dining options. The subject property is also located near numerous educational institutions such as Kraemer Middle School, Valencia High School, and Cal State Fullerton. Taking into consideration the subject property’s strong in-place rental income and 18% upside in rents, 3112 Pearl Dr offers a subsequent owner an appealing opportunity to take advantage of the strong rental demand in the City of Fullerton.
PROPERTY FACTS
| Price | $2,304,482 CAD |
| Price Per Unit | $576,121 CAD |
| Sale Type | Investment |
| Cap Rate | 4.25% |
| Sale Condition | 1031 Exchange |
| Gross Rent Multiplier | 15.98 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.20 AC |
| Building Size | 3,820 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1964 |
| Parking Ratio | 0.68/1,000 SF |
SITE AMENITIES
- Laundry Facilities
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+2 | 4 | - | 950 |
1 of 1
Walk Score®
Very Walkable (72)
PROPERTY TAXES
| Parcel Number | 339-233-03 | Improvements Assessment | $213,288 CAD |
| Land Assessment | $1,597,374 CAD | Total Assessment | $1,810,662 CAD |
ZONING
| Zoning Code | R-3 (Multiple-Family Residential) |
