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3116 Quartz Lane, Fullerton, California 92831, Fullerton, 92831 - bed, bath

3116 Quartz Lane, Fullerton, California 92831 home-pic-0
ACTIVE$1,795,000
3116 Quartz Lane, Fullerton, California 92831
0Bed
0Bath
4,142Sqft
8,712Lot
Year Built
1964
Close
-
List price
$1.79M
Original List price
$2.05M
Price/Sqft
$433
HOA
-
Days on market
-
Sold On
-
MLS number
OC24241567
Home ConditionFair
Features
Patio
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $1.79M(89th), sqft - 4142(78th), beds - undefined(50th), baths - undefined(50th).

JUST REDUCED! This 4 unit multi-family investment property is in one of the most highly desirable rental areas in Orange County. Fabulous opportunity to own 4 units at approximately 1000 square feet each. Owners unit includes 2 beds/2 baths and the other 3 units are 2 beds/1bath. Each unit has one garage parking space and there is an additional 2 car garage that could be rented for extra income stream. Close to Cal State Fullerton with nearby access to the 57 Freeway for easy transition to many freeway arteries in Orange and LA Counties. Close to shopping and dining as well as a 15 minute drive to the Honda Center, Angels Stadium, and Disneyland. Back on market subject to successful cancellation of current escrow.

Condition Rating
Fair
The property was built in 1964, making it 60 years old. While the exterior appears maintained, there are no interior images provided. The listing description explicitly notes 'unspecified unit condition' and suggests units 'might require modernization,' including 'potential updates to systems (plumbing, electrical).' This indicates that kitchens, bathrooms, and other interior features are likely outdated and would require significant renovation to meet current standards and maximize rental income, aligning with the 'Fair' condition criteria where major components are functional but show signs of being outdated and require minor updates or repairs.
Pros & Cons

Pros

Multi-Unit Investment: A 4-unit multi-family property (quadruplex) offering diversified income streams and a strong investment profile in a desirable market.
Prime Rental Market Location: Situated in one of Orange County's most highly desirable rental areas, ensuring robust tenant demand and stable occupancy.
University Proximity: Close proximity to Cal State Fullerton, making it highly attractive to students and university staff for consistent tenancy.
Exceptional Accessibility: Convenient access to the 57 Freeway, major shopping, dining, and entertainment venues like Honda Center, Angels Stadium, and Disneyland.
Value & Additional Income Potential: Benefits from a significant price reduction and offers potential for extra income from an additional 2-car garage, enhancing overall return on investment.

Cons

Age of Property: Built in 1964, the property may require ongoing maintenance, potential updates to systems (plumbing, electrical), and modernization to units.
Prior Escrow Failure: The property is back on the market due to a successful cancellation of a previous escrow, which may warrant further investigation into the reasons for the prior deal falling through.
Unspecified Unit Condition: The description does not detail recent interior upgrades or renovations to the units, suggesting they might require modernization to maximize rental income and tenant appeal.

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