612 S Paula Drive, Fullerton, California 92833, Fullerton, 92833 - bed, bath

612 S Paula Drive, Fullerton, California 92833 home-pic-0
ACTIVE$1,399,000
612 S Paula Drive, Fullerton, California 92833
0Bed
0Bath
2,600Sqft
6,372Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:
Income Generating Tri-plex: The property is a tri-plex, offering significant rental income from two additional 2-bedroom, 1-bath units, which can substantially offset the owner's mortgage.
Top Cons:
Complex & Delayed Ownership Structure: The 'Rent to Own' model involves a 3-year probationary rental period before ownership, delaying equity accumulation and requiring adherence to specific, potentially less flexible, seller financing terms (prime rate plus four percent or a 5-year second mortgage).

Compared to the nearby listings

Price:$1.40M vs avg $974.5K (+$424,500)50%
Size:2,600 sqft vs avg 1,808 sqft50%
Price/sqft:$538 vs avg $54050%

More Insights

Built in 1952 (73 years old).
Condition: Despite being built in 1952, this property has undergone extensive and recent renovations, bringing it to an excellent condition. The description explicitly states 'new bath room, all new doubled paned windows, new flooring, new façade, roof, laundry, etc.' for the main house, and 'New Roofs AND new Over-sized electric solar units. New hot water heaters. New central air-conditioning units in the two real apartments' for the other units. The images confirm modern, updated kitchens with stainless steel appliances, solid surface countertops, and white cabinetry, along with contemporary bathrooms featuring new vanities and tiled showers. All major systems like roofing, HVAC (new central heating in main house, central AC in apartments), and water heaters are new. The property shows no signs of deferred maintenance and meets current quality standards.
Year Built
1952
Close
-
List price
$1.4M
Original List price
$1.4M
Price/Sqft
$538
HOA
-
Days on market
-
Sold On
-
MLS number
OC25045711
Home ConditionExcellent
Features
Patio
View-

About this home

Seller Financing/Rent to Own – Tri-plex You have to see this Three-bedroom, one bath house with two additional rental units on lot. After renting for three years (probationary period) at $3,500 (first year) a month the landlord will carry a 30 year First (prime rate plus four percent) or a 5 year second mortgage. Once you own the property you will receive the income from two additional (2-bedroom, one bath) units which will pay most of your mortgage. Both houses have New Roofs AND new Over-sized electric solar units. New hot water heaters. New central air-conditioning units in the two real apartments. The main house was built in 1952, but has since been upgraded with a new bath room, all new doubled paned windows (with gas between the panes to keep the cold and heat out), new flooring, new façade, roof, laundry, etc. There is a whole house wall air-conditioning unit. New central heating system, expandable to include air. Whole house water softener system. The living room comes a romantic electric fireplace (you can use it for heat or for adoring looks, it also has a new 65 inch flat television. The kitchen comes with a refrigerator, gas stove, microwave, toaster oven, coffee pot, air-fryer, pressure cooker, garbage disposal, even a new garbage can. There are two laundries on the property. The machines are no coin operated, the washers and dryers are both free to use. There are four storage rooms in a separate building. One for each tenant and one for the landlord. There is a dining area complete with table, chairs, benches and free Bar-B-Que. A driveway for the main house, and parking area’s for the rear two apartments. The property has lots of lighting AND security camera’s for protection. Very close to shopping, restaurants, public transportation, cal. State Fullerton, Disneyland, Knots-Berry Farm, 91, 5 & 57 freeways.

Condition Rating
Excellent

Despite being built in 1952, this property has undergone extensive and recent renovations, bringing it to an excellent condition. The description explicitly states 'new bath room, all new doubled paned windows, new flooring, new façade, roof, laundry, etc.' for the main house, and 'New Roofs AND new Over-sized electric solar units. New hot water heaters. New central air-conditioning units in the two real apartments' for the other units. The images confirm modern, updated kitchens with stainless steel appliances, solid surface countertops, and white cabinetry, along with contemporary bathrooms featuring new vanities and tiled showers. All major systems like roofing, HVAC (new central heating in main house, central AC in apartments), and water heaters are new. The property shows no signs of deferred maintenance and meets current quality standards.
Pros & Cons

Pros

Income Generating Tri-plex: The property is a tri-plex, offering significant rental income from two additional 2-bedroom, 1-bath units, which can substantially offset the owner's mortgage.
Seller Financing/Rent-to-Own Option: A unique and flexible financing arrangement is offered, including a rent-to-own option with seller financing after a probationary period, making it accessible to a broader range of buyers.
Extensive Recent Upgrades & Renovations: Both the main house and rental units have received significant upgrades, including new roofs, new hot water heaters, new double-paned windows, new flooring, and a remodeled bathroom in the main house.
Solar Power & Energy Efficiency: Both houses are equipped with new oversized electric solar units, significantly reducing electricity costs and enhancing environmental sustainability.
Prime Location & Amenities: The property boasts an excellent location close to shopping, restaurants, public transportation, Cal State Fullerton, major freeways (91, 5, 57), and popular attractions like Disneyland and Knott's Berry Farm. It also includes free-to-use laundries, storage, and security cameras.

Cons

Complex & Delayed Ownership Structure: The 'Rent to Own' model involves a 3-year probationary rental period before ownership, delaying equity accumulation and requiring adherence to specific, potentially less flexible, seller financing terms (prime rate plus four percent or a 5-year second mortgage).
Main House AC Limitation: While the rental units have new central air conditioning, the main house currently features a 'whole house wall air-conditioning unit' and a central heating system 'expandable to include air,' indicating it may not have full central AC installed yet.
Landlord Responsibilities: The buyer will assume landlord duties for two additional units, which entails managing tenants, handling maintenance requests, and potential vacancy risks, requiring time and specific management skills.

Best solution for experienced home buyers!

Data-driven home buying experience with our licensed real estate agents and cutting-edge AI

Browse Properties by State Browse housing market trends by state