164-172 Preble Drive

Tustin, CA 92780

$3,900,000
Price
16
Beds
8
Baths
7,200 Sq. Ft.
$542 / Sq. Ft.
7,200
Sq. Ft.
$542
per Sq. Ft.

Description

TWO RARE TUSTIN FOURPLEXS ON TWO SEPARATE HUGE LOTS, CONVENTIONAL CONFORMING FINANCING - TWO SEPARATE PROPERTIES BEING SOLD TOGETHER; each property will qualify for it's own financing no commercial loan necessary! 164 Preble Drive (APN 401-591-14) and 172 Preble Drive (APN 401-591-15); Approximately 23,387 square feet (over a half acre) according to county records. Close to Police Station, Library, Community Center, Old Towne Tustin, City Cultural and Administrative Centers, Food, Stores, and Restaurants;...TWO RARE TUSTIN FOURPLEXS ON TWO SEPARATE HUGE LOTS, CONVENTIONAL CONFORMING FINANCING - TWO SEPARATE PROPERTIES BEING SOLD TOGETHER; each property will qualify for it's own financing no commercial loan necessary! 164 Preble Drive (APN 401-591-14) and 172 Preble Drive (APN 401-591-15); Approximately 23,387 square feet (over a half acre) according to county records. Close to Police Station, Library, Community Center, Old Towne Tustin, City Cultural and Administrative Centers, Food, Stores, and Restaurants; lots to explore and all within walking distance. Each property is comprised of 4 two bedroom one bath units (approximately 900 sqft each), 4 garage spaces, laundry room, and 6 open parking spaces (Total of 8 units, 8 garage spaces, 2 laundry rooms, and 12 open parking spaces). Each unit has a large enclosed patio off the dining area and a wood burning fireplace. Upside in rents, no rental increase in last 12 months. Laundry rooms are currently on month-to-month lease so new owner can negotiate a new contract with laundry company or put own machines in for even more income. Separately metered for electric, no gas, all units are 100% electric. Both buildings have been repiped with pex and have had the roof replaced in the last 10 years. Convenient location near the 5 and 55 freeways.
  1. Listed by Jay Johnson • DRE #00969110 • Brokerage DRE #00969110 • ASM Investments • jay.johnson.cfe@gmail.com

Property Details for 164-172 Preble Drive

Architectural Style
Traditional
View
None
Parking Spaces Total
20
Private Pool
No
Cooling Type
Wall/Window Unit(s)
Total Units
8.0
Building Type
Attached
Lot Size Source
Appraiser
LISTING UPDATED: 12/17/2024 03:09 AM

Property Details for 164-172 Preble Drive

StatusActive
MLS #OC24214946
Days on Market49
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1964
Lot Size0.54 AC / 23,387 SF
CountyOrange County

Building Information for 164-172 Preble Drive

Stories1Residences-Year Built1964Building Size-Lot Size0.54 AC / 23,387 SF

Property Information for 164-172 Preble Drive

Rental Info
Rental Info
  • Tenant Pays: Cable TV, Electricity, Telephone
Income / Expense / Tax Details
Income Details
  • Gross Income: $216,360
  • Gross Scheduled Income: $216,360
  • Net Operating Income: $190,029
  • Laundry Income: $893
  • Other Income Description: Laundry Lease Month to Month
Expense Details
  • Operating Expense: $26,331
  • Gardener Expense: $4,200
  • Fuel Expense: $0
  • Licenses Expense: $85
  • Pest Control Expense: $400
  • Electric Expense: $1,710
  • Insurance Expense: $3,475
  • Maintenance Expense: $9,876
  • Professional Management Expense: $0
  • Trash Expense: $2,714
  • Water Sewer Expense: $3,871
  • Total Expenses: $26,331
Tax / Assessment Info
  • Tax Tract Number: 3994
  • Tax Census Tract: 755.05
  • Tax Lot: 14
Community / Development
Community / Development
  • Assessments YN: No
  • Assessments: None
  • Community Features: Curbs, Gutters, Sidewalks, Street Lights, Suburban
Property / Structure Info
Interior Features
  • Appliances: Electric Range, Electric Water Heater, Free-Standing Range, Disposal, Range Hood, Vented Exhaust Fan, Water Heater
  • Equipment: Community, Electric Dryer Hookup, Hookup - Electric, Inside, Laundry Area, Room, Vented Exhaust Fan, Washer Hookup
  • Room Type: All Bedrooms Down, Kitchen, Living Room, Walk-In Closet
  • Bedroom Features: All Bedrooms Down, WalkInCloset
  • Water Heater Features: Electric
  • Laundry: Yes
  • Laundry Features: Common Area, Community, Electric Dryer Hookup, Individual Room, Inside, Washer Hookup
  • Laundry Equipment Own Lease: Lease
  • Fireplace Features: Living Room, Wood Burning
  • Fireplace Rooms: Living Room
  • Cooling: Wall/Window Unit(s)
  • Heating Type: Electric
  • Heating: Electric, Fireplace(s)
  • Flooring: Carpet, Laminate, Vinyl
Exterior Features
  • Window Features: Blinds, Screens
  • Security Features: Security Lights
  • Construction Materials: Brick, Stucco, Wood Siding
  • Exterior Construction: Brick, Stucco, Wood Siding
  • Exterior Features: Lighting, Rain Gutters
  • Roof: Composition, Shingle
  • Entry Location: front
  • Fence: Yes
  • Fence: Redwood, Wood
  • Fencing: Good Condition, Redwood, Security, Wood
  • Foundation Details: Slab
  • View Description: None
  • Pool Features: None
  • Pool Description: None
  • Spa Features: None
Land/Lot Info
  • Additional Parcels Description: 40159115
  • Lot Features: 0-1 Unit/Acre
  • Number Of Units: 8
  • Land Lease: No
  • Land Lease Type: Fee
  • Road Surface Type: Alley Paved, Paved
  • Road Frontage Type: Alley, City Street
  • Levels: One
  • Water: Public
  • Sewer: Public Sewer
  • Utilities: Cable Available, Electricity Connected, Phone Available, Sewer Connected, Water Connected
  • Electric: Standard
  • Water Source: Public
Parking Info
  • Garage Spaces: 8
  • Parking: Yes
  • Parking Garage: Assigned, Built-In Storage, Door Opener, Garage, Private
  • Uncovered Spaces: 12
  • Open Other Spaces Total: 12
  • Parking Garage Spaces: 8
  • Carport Spaces: 0
  • Parking Features: Assigned, Built-In Storage, Garage, Garage Door Opener, Private, Tandem Garage
Property / Structure Info
  • Builders Tract Name: Other
  • Builders Tract Code: Other (OTHR)
Unit Information
Unit 1
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $2,040
  • Unit Type Total Rent: $2,040
  • Unit Type Pro Forma: 3000
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $2,176
  • Unit Type Total Rent: $2,176
  • Unit Type Pro Forma: 3000
  • Unit Type Type: 2
Unit 3
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $2,230
  • Unit Type Total Rent: $2,230
  • Unit Type Pro Forma: 3000
  • Unit Type Type: 3
Unit 4
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $2,040
  • Unit Type Total Rent: $2,040
  • Unit Type Pro Forma: 3000
  • Unit Type Type: 4
Unit 5
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $2,350
  • Unit Type Total Rent: $2,350
  • Unit Type Pro Forma: 3000
  • Unit Type Type: 5
Unit 6
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $2,560
  • Unit Type Total Rent: $2,560
  • Unit Type Pro Forma: 3000
  • Unit Type Type: 6
Unit 7
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $2,230
  • Unit Type Total Rent: $2,230
  • Unit Type Pro Forma: 3000
  • Unit Type Type: 7
Unit 8
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $2,270
  • Unit Type Total Rent: $2,270
  • Unit Type Pro Forma: 3000
  • Unit Type Type: 8
Unit Information
  • Number Of Units Leased: 8
  • Rent Controlled: No
  • Number Of Buildings: 2
  • Number Of Separate Electric Meters: 10
  • Number Of Separate Gas Meters: 0
  • Number Of Separate Water Meters: 2
  • Number With Dishwasher: 0
  • Number With Range: 8
  • Number With Refrigerator: 0
  • Number With Carpet: 8
  • Number With Disposal: 8
  • Number With Drapes: 8
  • Number With Patio: 8
  • Number Wall AC: 8

Property History for 164-172 Preble Drive

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Schools near 164-172 Preble Drive

This home is within Tustin Unified School District.
Rating
School
Type
Grades
Distance
Guin Foss Elementary School
Public - K to 5
Columbus Tustin Middle School
Public - 6 to 8
Tustin High School
Public - 9 to 12
Tustin Connect
Public - K to 12
Rating
School
Distance
Guin Foss Elementary School
PublicK to 5

Columbus Tustin Middle School
Public6 to 8

Tustin High School
Public9 to 12

Tustin Connect
PublicK 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.

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More information about 164-172 Preble Drive, Tustin, CA 92780

164-172 Preble Drive is a multi-family home for sale in Tustin, CA 92780. This property was listed for sale on October 16, 2024 by ASM Investments, it's currently listed at $3,900,000. This listing's school district is Tustin Unified School District. Nearby schools include Guin Foss Elementary School, Columbus Tustin Middle School and Tustin High School. 164-172 Preble Drive is a 16-bed, 8-bath, 7,200 sqft multi-family home built in 1964.

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 ASM Investments, Jay Johnson, DRE #00969110

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.