1601 Fair Park Avenue, Eagle Rock, CA 90041
Local realty services provided by:ERA North Orange County Real Estate
1601 Fair Park Avenue,Eagle Rock, CA 90041
$170,000
- - Beds
- - Baths
- 3,900 sq. ft.
- Multi-family
- Active
Listed by:stephen lampe
Office:re/max commercial & investment
MLS#:SB25158948
Source:CRMLS
Price summary
- Price:$170,000
- Price per sq. ft.:$43.59
About this home
This is a 10% interest as a Tenant in Common with 3 other owners who own the remaining 90%. One of a kind Charming Spanish Adobe Style 6 unit 1920's apartment complex. Situated on a large corner lot in a quiet residential neighborhood with tree lined streets. All units are 1 bedroom 1 bath, and several have been remodeled, but have retained the charm and character of the 1920's with ceramic tile in the kitchens and bathrooms, and hardwood floors. There are 4 garages on the side of the property.
The property is valued at $1,700,000 and has a TIC Agreement with the three other owners. There is an existing loan with a balance of $575,000 and bears an interest rate of 4.75%. The monthly payment is $3,129.88 of which $2,284.96 was interest and $844.92 was principal reduction as of the May 2025 Mortgage Statement. The loan is a fully amortizing loan that matures on October 1, 2052 so there is no balloon payment.
When taking 10% of the NOI of $9,322 and deducting 10% of the annualized Mortgage Payment ($3,759), and then adding back principal reduction of $1,013, the total return is approximately $6,576 or 5.85% on the required cash equity investment of $112,500 and assuming $57,500 of the loan for 10% ownership as a Tenant in Common.
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Home facts
- Year built:1928
- Listing ID #:SB25158948
- Added:75 day(s) ago
- Updated:September 26, 2025 at 10:31 AM
Rooms and interior
- Living area:3,900 sq. ft.
Heating and cooling
- Cooling:Wall Window Units
- Heating:Floor Furnace
Structure and exterior
- Year built:1928
- Building area:3,900 sq. ft.
- Lot area:0.19 Acres
Utilities
- Water:Water Connected
- Sewer:Public Sewer, Sewer Connected
Finances and disclosures
- Price:$170,000
- Price per sq. ft.:$43.59
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