2024 Wilshire AveFullerton, CA 92831

Property Details for 2024 Wilshire Ave

Year built

1963

Property size (Sq ft)

4,196 SF

Property type

Apartment buildings

Description

This exceptional 4-unit apartment building, located at 2024 E. Wilshire Avenue in Fullerton, California, presents a compelling investment opportunity. Built in 1963, this well-maintained property boasts 4,196 square feet on an 8,657 square foot lot. The building features a desirable unit mix: two two-bedroom/two-bathroom units and two three-bedroom/two-bathroom units, each with private patios and fireplaces. Amenities include central heating and air conditioning, an on-site laundry facility, and three double-car garages, providing a generous 1.5:1 parking ratio. Recent upgrades include the installation of all new electrical sub-panels for each unit and laundry room, as well as the main electrical panel. The property is fully SB 721 compliant, having undergone inspections by a licensed contractor. Individual electric and gas meters are installed for each unit. This property is situated in a prime Fullerton location near Cal State Fullerton and offers significant potential, including the possibility of adding an accessory dwelling unit (ADU). The asking price is $1,850,000, representing a price per unit of $462,500 and a price per square foot of $440.90. The current NOI is $80,223, with a pro-forma NOI of $94,015, yielding a cap rate of 4.34% and a pro-forma cap rate of 5.08%. This property is being offered for sale for the first time in over 55 years and can be purchased with the adjacent property at 2030 E. Wilshire Avenue. The property's APN is 269-094-03.

Location Insight

City

Fullerton

County

Orange

State

California

Latitude

33.8723

Longitude

-117.895

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].