1056 Walter Avenue, Tustin, California 92780, Tustin, 92780 - 6 bed, 4 bath
1056 Walter Avenue
Tustin, California 92780
Property Price
SUMMARY
Analysis of 1056 Walter Avenue, Tustin, California 92780 reveals a property with a current list price of $1,650,000, which is 5% above the estimated $1,560,817 Fair Market Value. Buyers should carefully evaluate the pricing and consider negotiation opportunities. The property maintains a Excellent Condition Rating (95/100), indicating excellent structural integrity and modern finishes throughout. This turnkey property requires minimal updates and is ready for immediate occupancy. Located in a high-demand neighborhood within the Tustin Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.
Estimated Market Value
Comparable Sales Map
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1056 Walter Avenue Subject | $1,650,000* List Price | 6 | 4 | 2,300 | $679 | - |
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 14331 Heatherfield Drive Sold | $1,300,000 | 4 | 2 | 1,738 | $748 | 0.8 mi |
D 14132 Carfax Active | $1,494,999 List Price | 4 | 2 | 2,397 | $624 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
OVERALL CONDITION SCORE
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'.
PROSSTRENGTHS & OPPORTUNITIES
- Dual Income & Investment Potential
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.
- New Construction & Recent Remodel
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.
- Modern Amenities & High-End Finishes
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.
CONSRISKS & DEFICIENCIES
- MLS Listing Discrepancy
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.
- Future Availability Date
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.
- Significant Price Appreciation
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.
About 1056 Walter Avenue
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.
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 2025
- Lot Size
- 7,314 Sq. Ft.
Interior
- Total Bedrooms
- 6
- Total Bathrooms
- 4 (4 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 6.0 | 3.0 | 98% |
| Baths | 4.0 | 2.0 | 96% |
| Square foot | 2,300 | 1,691 | 85% |
| Lot Size | 7,314 | 7,280 | 53% |
| Price | $1.65M | $1.26M | 91% |
| Price per sq ft | $717 | $704 | 54% |
| Built year | 2025 | 1965 | 99% |
| HOA | $0 | $0 | 50% |
| Days on market | 116 | 163 | 31% |
Pricing History
Listed for Sale
Nov 11, 2025
$1,650,000
Initial Listing
Sold
Sep 5, 2024
$910,000
Public Record
Sold
Mar 21, 2008
$388,500
Public Record
Sold
Jul 13, 2005
$625,000
Public Record
Sold
Nov 26, 2002
$297,000
Public Record