2625 Andover Avenue, Fullerton, California 92831, Fullerton, 92831 - 0 bed, 0 bath
Loading property details...
Fullerton, California 92831
This Value-Add Multifamily Asset is listed at $1,995,000, positioned at its $1,951,641 Fair Market Value. Featuring a strategic mix of two and three-bedroom units equipped with private patios and decks, the property carries a Fair Condition Rating, offering clear potential for rental growth through the modernization of dated interiors. The asset's prime location within walking distance of California State University Fullerton ensures a consistent tenant base, while separate gas/electric meters and on-site laundry maximize operational efficiency. This is a prime acquisition for Buy-and-Hold Investors or Value-Add Specialists seeking a stable income-producing property.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2625 Andover Avenue Subject | $1,995,000* List Price | 0 | 0 | 4,303 | $454 | - |
A 2601 Andover Sold | $1,860,000 | 0 | 0 | 4,527 | $411 | 0.1 mi |
B 3124 Pearl Drive Sold | $1,625,000 | 0 | 0 | 3,820 | $425 | 0.8 mi |
C 3136 Garnet Sold | $1,460,000 | 0 | 0 | 3,258 | $448 | 0.8 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
The property was built in 1964, making it 60 years old. While the exterior appears maintained in the provided images, there are no interior photos, particularly of the kitchens and bathrooms, which are crucial for a full assessment. The MLS description itself notes 'Potential for Dated Interiors' as a weakness, suggesting that these key areas, along with other systems (plumbing, electrical, HVAC), are likely original or have only received minor updates over the decades. This aligns with the 'Fair' condition criteria, indicating that the property is aged but functional, likely maintained through regular upkeep, but requires minor updates and modernization to meet current standards and tenant expectations.
The property's prime location within walking distance to California State University Fullerton and immediate access to the 57 Freeway ensures strong rental demand and convenient access for tenants.
Each unit offers over 1,000 square feet of living space, a private patio or balcony, and a dedicated garage parking space, enhancing tenant appeal and retention.
Units are separately metered for gas and electricity, significantly reducing the owner's operating expenses and promoting tenant responsibility for utility costs.
Built in 1964, the property is over 50 years old, which may necessitate significant capital expenditures for system upgrades (e.g., plumbing, electrical, HVAC) and general modernization in the near future.
The description does not specify any recent renovations or interior upgrades, suggesting that units may have dated finishes and fixtures, potentially limiting rental income without further investment.
The property has experienced a price reduction from its original listing, which could indicate an initial overestimation of value or a slower market response, potentially impacting future resale value or requiring further price adjustments.
the opportunity to acquire 2625 Andover Avenue, a 4-unit multifamily investment property located in the city of Fullerton. Built in 1964, the subject property offers an attractive mix of one (1) Two-Bedroom/1-Bathroom Unit, two (2) Two-Bedroom/1.5-Bathroom Units, and one (1) Three-Bedroom/2-Bathroom Unit. Each unit is separately metered for Gas and Electricity, sprawls over 1,000 square feet of living space, offers a private patio or balcony and a garage parking space. Additionally, the subject property has an on-site laundry room generating additional income. 2625 Andover Avenue is perfectly located in a quiet, well-manicured neighborhood that is only a few minute walk from California State University Fullerton. The bright and mature landscape in the neighborhood offers a peaceful and serene living space for the residents. The subject property is also conveniently located just off the 57 Freeway which offers quick access to the greater Orange County and Los Angeles County areas. Just a few minute drive from the subject property are a handful of parks and shopping centers that will cater to the entire variety of the resident’s needs.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 0.0 | 50% |
| Baths | 0.0 | 0.0 | 50% |
| Square foot | 4,303 | 3,258 | 77% |
| Lot Size | 7,210 | 7,210 | 50% |
| Price | $2.00M | $1.40M | 92% |
| Price per sq ft | $464 | $464 | 50% |
| Built year | 1964 | 1964 | 50% |
| HOA | $0 | $0 | 50% |
| Days on market | 309 | 193 | 77% |
Feb 28, 2026
$1,995,000
$2,150,000
-7% Price Drop
Initial Listing
Sep 2, 2025
$2,150,000
Initial Listing
Jun 17, 2025
$2,200,000
Initial Listing