1515 Fisher Circle, Placentia, California 92870, Placentia, 92870 - bed, bath

1515 Fisher Circle, Placentia, California 92870 home-pic-0
ACTIVE$1,350,000
1515 Fisher Circle, Placentia, California 92870
0Bed
0Bath
1,512Sqft
6,000Lot
Year Built
1965
Close
-
List price
$1.35M
Original List price
$1.35M
Price/Sqft
$893
HOA
-
Days on market
-
Sold On
-
MLS number
TR24231518
Home ConditionGood
Features
Patio
View-

About this home

Possibly Over-Priced:The estimated price is 39% below the list price. We found 3 Cons,5 Pros. Rank: price - $1.35M(68th), sqft - 1512(18th), beds - undefined(1th), baths - undefined(1th).

Looking for great Airbnb investment opportunity? Welcome to this exceptional home in a cul-de-sac with large lot that is licensed and permitted for short term vacation rental. Centrally located in the heart of Orange County, this fully loaded 4 bedroom / 2 bathroom home has been the getaway for many Disneyland area vacationers. Upon entry, the cozy living room features a fireplace with an open layout leading to the private backyard and covered patio area great for BBQ and relaxation. Spacious dining room and fully equipped kitchen. Main bedroom also has direct sliding door access to backyard. Each bedroom offers good size closets, large windows with plantation shutters. Recess light and ceiling fans throughout. Renovated kitchen, master bathroom and 2nd bathroom with large jetted whirlpool tub. The garage is transformed into a game room and laundry with upgrade epoxy flooring. The home features AC and central heating. Zero cost solar lease with 6 years remaining with surplus electricity saving roughly $250 per month: owner receives additional check at year end for surplus energy generated. Artificial turf in front yard for easy maintenance. Close to all major freeway, beaches, and sports stadiums. Price includes all furniture, appliances, furnishing, and supplies used to operate the Airbnb. Refrigerator, washer/dryer, patio furniture, propane grill, outdoor swing, 3 queen beds, 2 twin over twin bunk beds, dining table set, recliner sofa, 2 TVs, TV stand, Skee-ball table, 3 Arcades, Pinball, Air Hockey, Pingpong, Karaoke, Foosball included! Projected CAP Rate 6% with 82% occupany rate. A MUST SEE!

Condition Rating
Good

The property, built in 1965, has undergone significant and recent renovations, as evidenced by the updated kitchen with modern cabinets and stainless steel appliances, and the renovated bathrooms featuring contemporary vanities, tiled walk-in showers, and a jetted tub. The interior boasts updated flooring (laminate, carpet, tile), recessed lighting, and modern ceiling fans. Essential systems like AC and central heating are present, and additional upgrades such as a zero-cost solar lease and artificial turf contribute to its well-maintained status. The overall condition is move-in ready with no immediate renovations required, aligning with a 'Good' score, indicating extensive renovations within the last 5-15 years.
Pros & Cons

Pros

Turnkey Short-Term Rental Investment: The property is explicitly marketed as a licensed and permitted Airbnb investment, fully furnished with all appliances, supplies, and entertainment amenities included, offering immediate operational readiness.
Strong Financial Projections: Projected 6% CAP Rate with an 82% occupancy rate indicates a high potential for profitability and return on investment for a short-term rental business.
Prime Tourist-Friendly Location: Centrally located in Orange County, close to Disneyland, major freeways, beaches, and sports stadiums, making it highly attractive to vacationers and ensuring consistent demand.
Significant Energy Cost Savings: A zero-cost solar lease with 6 years remaining provides substantial monthly savings (approx. $250) and potential additional income from surplus energy generation.
Extensive Entertainment & Renovations: Features a renovated kitchen and bathrooms (including a jetted whirlpool tub), recess lighting, ceiling fans, and a garage transformed into a fully equipped game room with multiple arcade machines, enhancing guest experience.

Cons

Significant Valuation Discrepancy: The listing price of $1.35 million is substantially higher than the estimated property value of $822,309 and recent comparable sales, suggesting potential overpricing relative to market value.
Limited Traditional Garage Functionality: The garage has been fully converted into a game room and laundry, eliminating its traditional use for vehicle parking and general storage, which may not appeal to all buyers.
Niche Market Appeal: While ideal for short-term rentals, the property's specific setup and extensive inclusions might narrow the buyer pool, potentially deterring traditional owner-occupant buyers seeking a standard family home.

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