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Property Description

Extremely sought after Covington style 4-unit apartment building with a desirable mix comprised of (1) One-Bedroom/One-Bathroom, (2) Two- Bedroom/Two-Bathroom, and (1) Three- Bedroom/Two-Bathroom totaling approx. 4109 living sq ft. This is an excellent asset-add opportunity for any Investor. Current ownership has professionally maintained the asset. The property possesses many advantageous features such as the 3-bedroom single story unit offers a private enclosed patio. One lower 2-bedroom 2 bath boasts a large fenced in yard perfect for kids or herb garden. The upper 2 bedroom is a mirrored image of lower 2 bedroom with a quaint balcony. Upper 1 bedroom unit extends over the 4 attached single car garages and is generous in size and loads of storage and has a great room feel. Units also offer 2 additional parking spaces and coin operated laundry that generates additional income. Each unit has its own gas meter. This fully rented fourplex is situated in a cul-de -sac location on a highly sought after tree-lined street. The building offers a low maintenance yard, long-term tenants and is situated within minutes of South Coast Plaza, freeway access, shopping, entertainment, John Wayne airport and close to Segerstrom center. With the continued addition and demand for new development, this should continue to drive both population growth and increased household income, which ultimately provides much confidence for continued rent escalation.

Overview

Property Status
Sold
Lot Size
7,405 Sq.Ft.
MLS ID
OC23135707
Property Type
Multi-Family
Year Built
1969

Features & Amenities

Neighborhood
Orange County
View Description
None
Stories
2
Garage Spaces
4.0
Water Source
Public
Utilites
Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
Pool
None
Roof
Composition
Lot Features
Cul-De-Sac, Lawn
Parking
Assigned, Garage, Garage Door Opener
Heat Type
Central
Air Conditioning
None
Sewer
Public Sewer
Security Features
Smoke Detector(s)
Sales Price
$1,797,000
Maintenance Fee
$5,853/mo

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413 W Stevens Avenue

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