3160 Garnet, Fullerton, California 92831, Fullerton, 92831 - 0 bed, 0 bath
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Fullerton, California 92831
This 4-unit multifamily asset represents a Prime Investment Opportunity, listed at $1,475,000. While currently priced slightly above the $1,426,445 Fair Market Value, the property offers exceptional stability with 100% occupancy and reliable monthly income of $9,060. Featuring a Condition Rating of 4, the asset benefits from recent exterior capital improvements, including new dual-pane windows and private patios. Its strategic location near Cal State Fullerton ensures consistent rental demand. This is a turnkey, income-generating acquisition ideal for Buy-and-Hold Investors or 1031 Exchange buyers seeking immediate cash flow.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 3160 Garnet Subject | $1,475,000* List Price | 0 | 0 | 3,258 | $438 | - |
A 3124 Pearl Drive Sold | $1,625,000 | 0 | 0 | 3,820 | $425 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1964, the property is over 60 years old. While the listing highlights recent exterior capital improvements such as new dual-pane windows, paint, and wood repair, there is no mention of recent renovations to the kitchens or bathrooms. Given the long-term tenancy and age, the interior finishes and systems are likely dated (>20 years), requiring modernization to reach a 'Good' or 'Excellent' rating.
The property is 100% occupied by long-term tenants with a strong payment history, generating a reliable $9,060 in monthly rental income.
Located in a high-demand rental market near Cal State Fullerton and major freeways, ensuring consistently low vacancy rates and long-term desirability.
Units are individually metered for gas and electricity, and recent capital improvements like new dual-pane windows and exterior painting minimize immediate maintenance costs.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =7405, other record lot size in square feet = 7350.
With only six garage spaces for four two-bedroom units, the property may face parking challenges for multi-vehicle households, common in high-density rental areas.
Originally built in 1964, the property may require future capital expenditures for aging systems such as plumbing or electrical that are typical for mid-century assets.
GREAT INVESTMENT OPPORTUNITY! Strong Rents, Stable Tenants & Priced to Sell! Rare opportunity to acquire a well-maintained 4-unit apartment property in the heart of Fullerton, one of Orange County's most desirable and high-demand rental markets. This single-story multifamily asset consists of four 2-bedroom, 1-bathroom units and is 100% occupied by long-term tenants with a strong history of on-time rent payments, providing immediate and reliable cash flow. The property currently generates approximately $9,060 per month in rental income, with potential for future rent growth. Each unit offers a functional floor plan, dual-pane windows, private patio space, and is individually metered for gas and electricity. Owner expenses are limited, with tenants responsible for their own gas and electric service, while ownership pays water, trash, and common area utilities. Recent capital improvements include exterior painting, exterior wood repair and treatment, and replacement of exterior windows and sliding glass doors, enhancing both curb appeal and long-term value. Additional amenities include an on-site coin-operated laundry facility and three detached two-car garages providing a total of six parking spaces. Ideally located near the 57 and 91 freeways, Cal State Fullerton, public transportation, shopping, dining, and entertainment, this property benefits from strong rental demand and low vacancy rates. Perfect for investors seeking a turnkey income property or buyers completing a 1031 exchange.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 0.0 |
| Baths | 0.0 | 0.0 |
| Square foot | 3,258 | - |
| Lot Size | 7,405 | - |
| Price | $1.48M | $1.33M |
| Price per sq ft | $453 | $561 |
| Built year | 1964 | 0 |
| HOA | $0 | $0 |
| Days on market | 32 | 89 |
Jun 21, 2026
$1,475,000
Initial Listing
Oct 26, 2009
$585,000
Public Record
Oct 12, 2001
$389,500
Public Record
Jun 29, 1995
$177,500
Public Record