Fullerton, CA 92832,655 Drake AVE

$880,000

$850,000

3.5%
Est.Price: ?

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Est. payment /mo

6,146 Sqft Lot


SOLD DATE : 08/31/2021

Key Details

Sold Price $880,000

Property Type Multi-Family

Sub Type Duplex

Listing Status Sold

Purchase Type For Sale

Subdivision Other (Othr)

MLS Listing ID PW21166642

Sold Date 08/31/21

Construction Status Additions/Alterations

HOA Y/N No

Year Built 1952

Lot Size 6,146 Sqft

Property Description

An ideal and unique opportunity awaits in coveted Golden Hills. 655 Drake Ave offers a rare chance to purchase a two on a lot property in a prized single family home neighborhood. The main home sits at street level and comprises 2 Bedrooms PLUS DEN, 2 Bathrooms in approx. 1,600 sq feet, on two levels. Built in 1996, the fully detached ADU comprises 1 Bedroom and 1 Bathroom with a huge deck sitting above 3 single car garages, enjoying private access via Leland Drive. The main home was built in 1952 and retains many of its original architectural details include beamed ceilings, wainscoting and multiple built ins. The unique lay out provides a lower level with family room and separate entry, perhaps allowing for an ideal work at home arrangement or multi-generational living. A large deck runs across the rear of the home creating a tree house feeling overlooking the trees and canyon beyond. A shaded rear yard is private and is one of the ways to access the ADU down the hillside. Built in 1996, with permits, the ADU is a spacious 1 Bed, 1 Bath unit that sits on top of 3 single car garages and enjoys its own deck and easy access via Leland Drive with a small driveway for 1 or 2 cars. The property is currently rented and generating a total annual income of $48,000, providing a solid 3.8% CAP rate. Great proximity to schools, shopping, DT Fullerton and fwys. Don’t miss this rare and unique hillside investment or owner-occupant opportunity.

Location

State CA

County Orange

Area 83 - Fullerton

Interior

Interior Features Balcony, Bedroom on Main Level

Heating Wall Furnace

Cooling None

Flooring Laminate

Fireplaces Type None

Fireplace No

Appliance Disposal

Laundry Inside

Exterior

Parking Features Driveway, Garage, Garage Faces Rear

Garage Spaces 3.0

Garage Description 3.0

Fence Chain Link, Wood

Pool None

Community Features Sidewalks

View Y/N Yes

View Trees/Woods

Roof Type Rolled/Hot Mop

Total Parking Spaces 5

Private Pool No

Building

Lot Description Sloped Down, Front Yard

Story 2

Entry Level Two

Foundation Slab

Sewer Public Sewer

Water Public

Architectural Style Mid-Century Modern

Level or Stories Two

New Construction No

Construction Status Additions/Alterations

Others

Senior Community No

Tax ID 03204115

Security Features Carbon Monoxide Detector(s),Smoke Detector(s)

Acceptable Financing Cash to New Loan, Conventional, 1031 Exchange

Listing Terms Cash to New Loan, Conventional, 1031 Exchange

Financing Cash

Special Listing Condition Standard

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California Regional MLS (CRMLS)
Listed by James Bobbett • Reliance Real Estate Services
Bought with James Bobbett • Reliance Real Estate Services
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