1056 Walter Avenue, Tustin, California 92780, Tustin, 92780 - 6 bed, 4 bath
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Tustin, California 92780
This Dual-Unit Income Property on a Corner Lot is listed at $1,625,000, representing a high-quality asset in Tustin’s competitive market. While positioned near the $1,552,204 Fair Market Value, the property’s $8,090 Total Monthly Rent and New 2025 Construction provide long-term financial stability. Both units feature an Excellent Condition Rating with Quartz Countertops, Stainless Steel Appliances, and Separate Utility Meters. Situated in the Tustin Unified School District, this turnkey opportunity is perfectly suited for 1031 Exchange Buyers or Owner-Occupants seeking a sophisticated house-hack with immediate cash flow.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1056 Walter Avenue Subject | $1,625,000* List Price | 6 | 4 | 2,300 | $675 | - |
A 14032 Woodlawn Sold | $1,300,000 | 5 | 3 | 1,973 | $659 | 0.3 mi |
B 13631 Fielding Drive Sold | $1,350,000 | 4 | 3 | 2,150 | $628 | 0.6 mi |
C 14132 Carfax Active | $1,494,900 List Price | 4 | 2 | 2,397 | $624 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
This property features two units: one is brand new (built 2025) and the other is fully remodeled. Both units showcase modern, high-quality finishes including new vinyl plank flooring, white/grey shaker cabinets, quartz countertops, new stainless steel appliances, recessed lighting, and completely updated bathrooms with contemporary vanities, mirrors, and tile work. All major systems, including central A/C and heat, are new or recently installed, indicating no deferred maintenance and meeting current quality standards. The property is explicitly described as 'low-maintenance for the next 10+ years'.
The property features two separate units generating a substantial total rental income of $8,090/month, with individual utility meters, making it highly attractive for investors, 1031 exchange buyers, or owner-occupiers seeking significant rental income.
One unit is a brand-new detached single-family home (built 2025), and the second unit is fully remodeled, ensuring modern standards, low maintenance for the foreseeable future, and immediate move-in readiness.
Both units boast open-concept layouts, modern cabinetry, quartz countertops, high-end appliances, vinyl flooring, central A/C & heat, recessed lighting, walk-in closets, and in-unit washer/dryer hookups, appealing to discerning tenants.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 2300, other record living area = 1428. Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 6, other record bedroom count = 3.
The 'on_market_date' and 'year_built' (2025) indicate the property may not be immediately available for purchase or occupancy, potentially limiting interest from buyers seeking a prompt transaction.
The current list price of $1,650,000 represents a substantial increase from its last sale price of $910,000 in 2024, which, while justified by new construction and remodel, may require thorough justification for some buyers.
CORNER LOT WITH 2-UNITS ON ONE LOT for $825,000 Each Unit In the heart of Tustin. Don’t miss this opportunity to own a highly desirable property featuring a fully remodeled home and a brand-new construction detached single family home — perfect for investors, 1031 exchange buyers, or owner-occupiers seeking rental income. Unit 1 – BRAND NEW Detached Single Family Home (Built in 2025) - Modern 3 beds / 2 baths 1,150 SF with a 1-car garage plus 1-car driveway parking, Central A/C & Heat. Market Rent: $4,200/month. Unit 2 – Fully Remodeled - Spacious 3 beds / 2 baths approx. 1,150 SF with 2-car garage & 2 car driveway parking, Central A/C & Heat. Current Rent $3,890/month. Total Rental Income: $8,090/month. Separate Water, Gas & Electricity meters – tenants pay all utilities. Each unit features open-concept layouts, modern cabinetry, quartz countertops, high-end appliances, vinyl flooring, Central A/C & Heat, recessed lighting, walk-in closets, and in-unit washer/dryer hookups. With quality renovations and new construction, this is a low-maintenance property for the next 10+ years. Located in a prime Tustin neighborhood close to schools, shopping, dining, and freeway access.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 6.0 | 4.0 | 99% |
| Baths | 4.0 | 2.0 | 97% |
| Square foot | 2,300 | 1,793 | 86% |
| Lot Size | 7,314 | 7,440 | 47% |
| Price | $1.62M | $1.31M | 92% |
| Price per sq ft | $707 | $705 | 51% |
| Built year | 2025 | 1964 | 99% |
| HOA | $0 | $0 | 50% |
| Days on market | 162 | 159 | 54% |
Apr 3, 2026
$1,625,000
$1,650,000
-2% Price Drop
Initial Listing
Nov 11, 2025
$1,650,000
Initial Listing
Sep 5, 2024
$910,000
Public Record
Mar 21, 2008
$388,500
Public Record
Jul 13, 2005
$625,000
Public Record
Nov 26, 2002
$297,000
Public Record