Listing ID: PW22005543
Price: $1,495,000
Price/SqFt: $354.18
Status: Active
Address: 2220 S Lewis Street
City: Anaheim
State: California
Postal Code: 92802
SqFt: 4,221
Acres: 0.260
County: Orange
Subdivision: Other (OTHR)
Anaheim
CA
92802
The Lewis Street 4-plex is a Covington concept 4-plex built in 1979. The structure measures 4,221 square feet and sits atop a large, 11,536 square foot lot. The unit mix consists of one 3 bedroom / 2 bathroom apartment and three 2 bedroom / 2 bathroom apartments. All apartments are well appointed with spacious layouts and come with a garage and at least one assigned parking space. The three bedroom owner unit has a direct access double car garage which is separate from the other garages. The 3 bedroom is currently vacant providing an immediate opportunity for an owner occupant or for an investor to rent it at the historically high market rent rate. The downstairs apartments have private, enclosed patios while the upstairs apartments have balconies. There is an onsite laundry room which provides additional monthly income along with being a nice amenity for tenants. Major employment is within close walking distance with the Kaiser Permanente Health Pavilion (5 minutes) and the UCI Medical Center (15 minutes) are down the street. The Lewis Street 4-plex is an ideal purchase for first time buyers or seasoned investors looking for an easy to run investment.

Primary Features

County: Orange
Price/SqFt: 354.18
Property Type: Residential Income
Subdivision: Other (OTHR)
Year Built: 1979
Zoning: R3

Interior

Average 1 Bed Area Units: Square Feet
Average 2 Bed Area Units: Square Feet
Average 3 Bed Area Units: Square Feet
Average Studio Area Units: Square Feet
Building Area Units: Square Feet
Common Walls: No Common Walls
Cooling: yes
Cooling Type: Wall/Window Unit(s)
Garage Spaces: 5
Heating: yes
Heating Type: Forced Air
Laundry: yes
Laundry Features: Common Area
Levels: Two
Number With Disposal: 4
Number With Range: 4
Stories Total: 2

External

Lot Features: Lot 10000-19999 Sqft
Lot Size Area: 11326
Lot Size Source: Assessor
Lot Size Square Feet: 11326
Number Of Buildings: 1
Parking: yes
Parking Features: Assigned, Garage
Parking Total: 10
Pool Features: None
Private Pool: no
Property Attached: no
Sewer: Public Sewer
Uncovered Spaces: 5
Water Source: Public

Location

Country: US
Elevation Units: Feet
MLS Area Major: 78 - Anaheim East of Harbor
Subdivision Name Other: None

Additional

Additional Parcels: no
Assessments: Special Assessments
Association: no
Community Features: Curbs
List Agent State License: 01488586
List Office State License: 01220368
Lot Size Units: Square Feet
New Construction: no
Number Of Separate Electric Meters: 5
Number Of Separate Gas Meters: 5
Number Of Separate Water Meters: 1
Number Of Units Leased: 3
Number Of Units Total: 4
Parcel Number: 13745131
Senior Community: no
Utilities: Electricity Connected, Natural Gas Connected, Water Connected
Year Built Source: Assessor

Financial

Cap Rate: 3.7
Electric Expense: 1500
Gardener Expense: 900
Gross Multiplier: 17.18
Gross Operating Income: 84390
Gross Scheduled Income: 87000
Insurance Expense: 1600
Land Lease: no
Laundry Equipment Own Lease: Lease
Laundry Income: 100
Net Operating Income: 54733
New Taxes Expense: 16946
Operating Expense: 29657
Operating Expense Percent: 34
Price Per Unit: 373750
Rent Control: no
Special Listing Conditions: Standard
Tax Census Tract: 761.02
Tax Lot: 3
Tax Tract Number: 121
Tenant Pays: Cable TV, Electricity, Gas
Total Actual Rent: 7150
Total Expenses: 29657
Trash Expense: 1500
Vacancy Allowance: 2610
Vacancy Allowance Rate: 3
Water Sewer Expense: 1500

Zoning Info


Area Info


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Based on information from CARETS as of Monday, January 17th, 2022 07:59:58 AM. The information being provided by CARETS 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 CARETS, CLAW, CRISNet MLS, i-Tech MLS, PSRMLS and/or VCRDS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.

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Listing Agent: Michael Arp, DRE #01488586 from Morgan Skenderian
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Listing Agent: Michael Arp, DRE #01488586 from Morgan Skenderian
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Listing Agent: Michael Arp, DRE #01488586 from Morgan Skenderian

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