1501 North Brea Boulevard
Description
Built in 1992, Hillcrest Senior Condominiums (age 55+) is an offering of 14 total, 1 bedroom rental units in a 68 unit condominium complex. It provides an investor with a truly unique investment opportunity to acquire a stable income stream, substantial rental upside, an outstanding location and the future opportunity to sell individually parceled units. This offering provides investors unique ownership benefits rarely available in properties...THE BEST RESIDENTIAL INVESTMENT OPPORTUNITY IN ORANGE COUNTY
Built in 1992, Hillcrest Senior Condominiums (age 55+) is an offering of 14 total, 1 bedroom rental units in a 68 unit condominium complex. It provides an investor with a truly unique investment opportunity to acquire a stable income stream, substantial rental upside, an outstanding location and the future opportunity to sell individually parceled units. This offering provides investors unique ownership benefits rarely available in properties in this size range: freedom from direct ownership and responsibilities of common area management and maintenance and a broad range of common amenities such as multiple fitness rooms on each floor, a community room with a full kitchen, media center and pool table, a private park, a pool and spa and laundry rooms and restroom facilities on each floor of the complex. The property is across from the scenic Hillside Park, filled with mature shade trees, a breathtaking historical fountain, large picnic areas and the “Hillcrest Stairs”. Shopping, dining and golfing facilities are also conveniently located nearby as is St. Jude Medical Center and the historic Downtown Fullerton.
Property Details for 1501 North Brea Boulevard
Property Details for 1501 North Brea Boulevard
| Status | Active |
|---|---|
| MLS # | OC24191167 |
| Days on Market | 59 |
| Taxes | - |
| HOA Fees | $4,004 / month |
| Condo/Co-op Fees | - |
| Compass Type | Multi Family |
| MLS Type | Residential Income |
| Year Built | 1992 |
| County | Orange County |
Building Information for 1501 North Brea Boulevard
Property Information for 1501 North Brea Boulevard
- Tenant Pays: All Utilities
- Pets Allowed: Call For Rules
- Gross Income: $305,412
- Gross Scheduled Income: $305,412
- Vacancy Allowance: 9103
- Gross Operating Income: $296,309
- Net Operating Income: $181,478
- Gross Multiplier: 12.11
- Cap Rate: 4.9
- Current Financing: None
- Operating Expense: $114,831
- New Taxes Expense: $44,553
- Insurance Expense: $1,978
- Maintenance Expense: $8,400
- Professional Management Expense: $11,852
- Other Expense: $48,048
- Other Expense Description: HOA Dues
- Trash Expense: $0
- Total Expenses: $115,893
- Tax Rate: 1.06
- Tax Year: 2024
- Tax Tract Number: 142501
- CFD/Mello-Roos Fee: $5,243
- Tax Lot: 1
- Association Amenities: Pool, Spa/Hot Tub, Barbecue, Pest Control, Gym/Ex Room, Clubhouse, Billiard Room, Banquet Facilities, Meeting Room, Trash, Sewer, Management, Controlled Access, Maintenance Front Yard
- Community Features: Park, Mountainous
- Complex Name: Hillcrest
- Association Name: Hillcrest
- Appliances: Built-In Range, Dishwasher, Disposal, Gas Range, Water Heater
- Equipment: Dishwasher, Laundry Area
- Interior Features: Balcony, Ceiling Fan(s), Tile Counters, Unfurnished
- Laundry: Yes
- Laundry Features: Common Area
- Cooling: Central Air, Electric
- Flooring: Carpet, Vinyl
- Security Features: Automatic Gate, Carbon Monoxide Detector(s), Fire and Smoke Detection System, Fire Sprinkler System, Gated Community, Security System, Smoke Detector(s)
- Security: Automatic Gate, Gated Community
- Construction Materials: Drywall Walls, Wood Siding
- Exterior Construction: Wood Siding
- Exterior: Wood
- Exterior Features: Barbecue Private
- Roof: Flat
- Entry Location: Street Level
- Fence: Yes
- Fence: Wrought Iron
- Fencing: Wrought Iron
- Foundation Details: Concrete Perimeter, Pillar/Post/Pier
- View Description: Hills
- Pool Features: Association, Gas Heat, In Ground
- Pool Description: Association Pool, In Ground
- Pool: Below Ground
- Spa Features: Association, In Ground
- Additional Parcels Description: 93640212, 93640213, 93640214, 93640216, 93640218, 93640220, 93640234, 93640237, 93640238, 93640240, 93640258, 93640261, 93640262
- Lot Features: 36-40 Units/Acre, Close to Clubhouse, Irregular Lot, Near Public Transit, Sprinkler System, Treed Lot
- Number Of Units: 14
- Land Lease: No
- Land Lease Type: Fee
- Road Surface Type: Paved
- Road Frontage Type: City Street
- Levels: Three Or More
- Water: Public
- Sewer: Public Sewer
- Utilities: Cable Available, Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
- Electric: Cable Available, Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
- Water Source: Public
- Garage Spaces: 0
- Parking: No
- Parking Garage: None
- Uncovered Spaces: 0
- Open Other Spaces Total: 0
- Parking Garage Spaces: 0
- Carport Spaces: 0
- Parking Features: None
- Builders Tract Name: Other
- Builders Tract Code: Other (OTHR)
- Unit Type Units Total: 14
- Unit Type Beds Total: 1
- Unit Type Baths Total: 1
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 0
- Unit Type Garage Attached: No
- Unit Type Actual Rent: $1,806
- Unit Type Total Rent: $27,370
- Unit Type Pro Forma: 31150
- Unit Type Type: 1
- Number Of Units Leased: 14
- Rent Controlled: No
- Number Of Buildings: 1
- Number Of Separate Electric Meters: 14
- Number Of Separate Gas Meters: 14
- Number Of Separate Water Meters: 14
- Number With Dishwasher: 14
- Number With Range: 14
- Number With Carpet: 14
- Number With Disposal: 14
- Number With Patio: 14
Property History for 1501 North Brea Boulevard
| Date | Event & Source | Price | Appreciation |
|---|
| Date | Event & Source | Price |
|---|
For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Schools near 1501 North Brea Boulevard
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | K to 8 | |||
| Public - | 9 to 12 | |||
| Public - | 9 to 12 | |||
| Public - | 9 to 12 |
Rating | School | Distance |
|---|---|---|
Beechwood Elementary School PublicK to 8 | ||
Fullerton Union High School Public9 to 12 | ||
La Sierra High (Alternative) School Public9 to 12 | ||
La Vista High (Continuation) School Public9 to 12 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
Similar Homes
Similar Sold Homes
Homes for Sale near Fullerton
Neighborhoods
Cities
No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.
Listing Courtesy of Marcus & Millichap RE Invest, Joseph Berkson, DRE #01031951
Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.