3169-3175 Quartz Ln
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3169-3175 Quartz Ln
9 Unit Apartment Building $4,150,000 ($461,111/Unit) 5.16% Cap Rate Fullerton, CA 92831
Investment Highlights
- 5.16% CAP Rate on Current Income with Upside in Rents
- Excellent Unit Mix Consisting of (1) Large 2 Bed/ 2 Bath Townhouse Plus Den and (8) Large 2 Bed/ 1 Bath Units / Large Units Featuring Walk-In Closets
- Separately Metered for Gas & Electric / Low Expense Building / Highly Desirable Fullerton Location & Minutes to Cal State Fullerton
- Recent Extensive Renovations & Upgrades of Interiors and Exterior Including New Roofs
- Private Enclosed Garages & Large Patios / Large Gated Entry Courtyard with Private Access / Two On-Site Laundry Rooms / On-Site Amazon Secured Lockers
- Walking Distance to Schools, Retail, & Employment
Executive Summary
The Quartz Lane Apartments is a nine-unit apartment community located in the highly desirable submarket of Fullerton within the Greater Orange County area. The property offers a very attractive unit mix consisting of (1) large two-bedroom/ two-bathroom townhouse and (8) large two-bedroom/ one-bathroom units totaling 9,831 square feet, situated over a large 17,437 square foot lot.
The property has undergone recent renovations and upgrades of the interiors and exterior. Some upgrades include but are not limited to new windows, new kitchens, new appliances, recessed lighting, new bathrooms, new fencing / gates, new flooring, and new roofs. Tenant amenities include a large, nicely landscaped courtyard, large patios, enclosed garages, on-site laundry rooms, secured Amazon lockers, and large units featuring walk-in closets and double sink vanities.
Fullerton is revered as “The Education Community”, and is home to award-winning public school systems and five universities/colleges, including California State University, Fullerton.
The Quartz Lane Apartments offers a rare opportunity for an investor to acquire a well-located, stabilized, turn-key investment property in the desirable rental market of Fullerton, California. The location offers an area known for its strong tenancy, good rent growth, and a historically high occupancy rate.
The property has undergone recent renovations and upgrades of the interiors and exterior. Some upgrades include but are not limited to new windows, new kitchens, new appliances, recessed lighting, new bathrooms, new fencing / gates, new flooring, and new roofs. Tenant amenities include a large, nicely landscaped courtyard, large patios, enclosed garages, on-site laundry rooms, secured Amazon lockers, and large units featuring walk-in closets and double sink vanities.
Fullerton is revered as “The Education Community”, and is home to award-winning public school systems and five universities/colleges, including California State University, Fullerton.
The Quartz Lane Apartments offers a rare opportunity for an investor to acquire a well-located, stabilized, turn-key investment property in the desirable rental market of Fullerton, California. The location offers an area known for its strong tenancy, good rent growth, and a historically high occupancy rate.
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $4,150,000 | Apartment Style | Low Rise |
| Price Per Unit | $461,111 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.40 AC |
| Cap Rate | 5.16% | Building Size | 9,831 SF |
| Gross Rent Multiplier | 14.32 | No. Stories | 2 |
| No. Units | 9 | Year Built | 1964 |
| Property Type | Multifamily | Parking Ratio | 1.42/1,000 SF |
| Property Subtype | Apartment |
| Price | $4,150,000 |
| Price Per Unit | $461,111 |
| Sale Type | Investment |
| Cap Rate | 5.16% |
| Gross Rent Multiplier | 14.32 |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.40 AC |
| Building Size | 9,831 SF |
| No. Stories | 2 |
| Year Built | 1964 |
| Parking Ratio | 1.42/1,000 SF |
Site Amenities
- Courtyard
- Laundry Facilities
- Gated
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 1 | $3,600 | 1,200 |
| 2+1 | 8 | $2,438 | 1,075 |
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Walk Score®
Very Walkable (74)
PROPERTY TAXES
| Parcel Number | 339-233-14 | Total Assessment | $2,996,352 (2024) |
| Land Assessment | $2,601,000 (2024) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $395,352 (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
339-233-14
Land Assessment
$2,601,000 (2024)
Improvements Assessment
$395,352 (2024)
Total Assessment
$2,996,352 (2024)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2023
zoning
| Zoning Code | R3 |
| R3 |
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3169-3175 Quartz Ln
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