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1522 W Almond AVE Orange, CA 92868
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Key Details
Sold Price $30,000,000
Property Type Condo
Sub Type Apartment
Listing Status Sold
Purchase Type For Sale
Square Footage 73,920 sqft
Price per Sqft $405
MLS Listing ID OC23099544
Sold Date 09/29/23
HOA Y/N No
Year Built 1957
Lot Size 2.530 Acres
Acres 2.53
Property Sub-Type Apartment
Property Description
Orange Grove Apartments is a 10-property, 78-unit multifamily investment property located in Orange, CA. Orange Grove Apartments includes: 1522 West Almond Avenue, 1610 West Almond Avenue, 220 South McCoy Road, 221 South McCoy Road, 230 South McCoy Road, 231 South McCoy Road, 254 South McCoy Road, 255 South McCoy Road, 264 South McCoy Road, and 265 South McCoy Road. Orange Grove Apartments offers 6, 2 bed/1 bath units and 72, 2 bed/1.5 bath townhome units. The property features highly desirable amenities including private patios, ample garage parking, and in-unit laundry machines. Current ownership has invested significant capital into improvements at the property to provide a luxury living experience for its residents. 50 of the 78 units have been renovated with high-quality finishes and upgrades including new appliances, plumbing fixtures, flooring, cabinetry, paint, and more. Orange Grove Apartments is situated within walking distance of Chapman Avenue, the bustling thoroughfare that grants residents convenient access to everyday needs. Additionally, the property is within 1 mile of Old Towne Orange, placing residents moments from a plethora of eclectic retail, dining, and entertainment options. Orange Grove Apartments is also located just over 1 mile from the Platinum Triangle, which is home to some of Orange County's most popular destinations, including Angel Stadium and The Honda Center. The property is also just over 1 mile from The Outlets at Orange, providing residents an easy commute to numerous retail amenities. Furthermore, Orange Grove Apartments benefits from its close proximity to the Interstate 5 and State Route 22 Interchange, connecting residents to employment hubs throughout Orange and Los Angeles Counties. Given the property's fantastic location and its high-quality upgrades, Orange Grove Apartments is well suited to provide investors with strong returns and value appreciation over the long-term investment horizon.
Location
State CA
County Orange
Area Oto - Old Towne Orange
Interior
Laundry Dryer Included, Washer Included
Exterior
Pool None
Community Features Curbs, Sidewalks
Private Pool No
Building
Lot Description Landscaped, Level with Street
Story 2
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Special Listing Condition Standard
Lease Land No
Confidential INFO
BAC 1.0
TERMS 1031 Exchange,Cash To New Loan
LIST AGRMT Exclusive Right To Sell
LIST SERVICE Full Service
SHOW CONTACT TYPE Agent
SHOW INSTRUCTIONS *Drive by only. Do not walk the property or disturb the residents. Please contact the Listing Agent.*
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Bought with Marcus & Millichap RE Invest