$2,550,000
$2,695,000
5.4%For more information regarding the value of a property, please contact us for a free consultation.
1160 S Walnut St La Habra, CA 90631
0.37 Acres Lot
Key Details
Sold Price $2,550,000
Property Type Condo
Sub Type Apartment
Listing Status Sold
Purchase Type For Sale
Subdivision La Habra Woods Townhomes (Lhwt)
MLS Listing ID OC21142033
Sold Date 07/17/21
HOA Y/N No
Year Built 1962
Lot Size 0.370 Acres
Property Description
PROPERTY UPGRADES
1160 Walnut has received significant upgrades to 9 of 11 units, including but not limited to quartz or granite counter tops, laminate or vinyl flooring, ceiling fans, and new paint. The exterior of the building has a gated parking lot with pavers.
PRIME LOCATION
1160 Walnut is located in a residential neighborhood in close proximity to West Imperial Highway, a major thoroughfare with over 51,000 cars per day and significant shopping. It is a short walk to Imperial Middle School, Las Lomas Elementary School, and Imperial Promenade Shopping Center, that is anchored by Sprouts Farmers Market, Bed Bath & Beyond, Target, and Trader Joe’s. It is a quick drive to Cal State Fullerton, Biola University, and the Brea Mall.
RENTAL UPSIDE
Current asking rent is approximately 20% below market rents for nearby similar properties. Increased internet marketing will help bring the rents in-line with market.
ATTRACTIVE TENANT RENTAL PRICE POINT
The average rental rate for a 1 Bedroom / 1 Bath apartment within a 3-Mile radius is $1,791. With a pro-forma asking rate of $1,545, a Buyer can capture significant upside in rent (20% +/-) while offering a reasonable rental rate in a strong Orange County rental market.
HIGH DEMAND RESIDENTIAL AREA
The median home price in La Habra is $676,552 representing a 11% increase year-over-year.
CASH TO NEW LOAN
1160 Walnut is offered free of existing financing providing an opportunity to optimize the capital stack at today’s historically low interest rates.
Location
State CA
County Orange
Area 87 - La Habra
Interior
Fireplace No
Laundry Common Area
Exterior
Pool Community
Community Features Urban, Pool
Utilities Available Sewer Not Available, Water Not Available
Private Pool No
Building
Lot Description 6-10 Units/Acre
Sewer None
Water None
New Construction No
Others
Senior Community No
Tax ID 01921015
Acceptable Financing Cash to New Loan
Listing Terms Cash to New Loan
Financing Cash to New Loan,Cash to Second Loan
Special Listing Condition Standard
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Bought with Brett Bayless • Brett Bayless, Broker