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124 N Princeton Avenue, Fullerton, California 92831, Fullerton, 92831 - 5 bed, 2 bath

124 N Princeton Avenue, Fullerton, California 92831 home-pic-0
ACTIVE UNDER CONTRACT$1,150,000
124 N Princeton Avenue, Fullerton, California 92831
5Beds
2Baths
1,804Sqft
6,408Lot
Year Built
1975
Close
-
List price
$1.15M
Original List price
$1.15M
Price/Sqft
$637
HOA
-
Days on market
-
Sold On
-
MLS number
PW25267962
Home ConditionFair
Features
Patio
View-

About this home

We found 4 Cons,5 Pros. Rank: price - $1.15M(22th), sqft - 1804(22th), beds - 5(78th), baths - 2(78th).

Rare opportunity to own two detached residences on a single parcel in the R2P zoning district, which allows for two family residential use. This property offers flexibility for both investors and owner occupants. The front unit is a single story 3 bedroom 1 bathroom home with approximately 1,119 square feet. It features hardwood flooring, granite countertops, and an indoor laundry area. The home is vacant and ready for immediate occupancy or lease. This unit includes two single car garages. The rear unit is a 2 bedroom 1 bathroom home with approximately 685 square feet, built above a three car garage. It includes an updated bathroom and hardwood floors. The tenant is currently on a month to month lease at 2,600 dollars per month and is open to staying. This unit uses one single car garage. Both homes have newer roofs. Each unit has separate gas and electric meters, and a shared water meter. The lot includes private yard space and off street parking. The property is located near Fullerton College, Cal State Fullerton, shopping, dining, and public transportation. This is a rare and well-located property offering long term flexibility, income potential, and the charm of Fullerton’s historic residential area. A great opportunity for buyers seeking both utility and value. MUST SEE!!!

Price History

Date
Event
Price
11/30/25
Listing
$1,150,000
09/24/01
Sold
$261,000
Condition Rating
Fair
The property, built in 1975, is well-maintained for its age and features hardwood flooring throughout both units and newer roofs. The front unit has granite countertops in the kitchen, but both kitchens feature dated white appliances and cabinet styles that are not modern. Bathrooms have seen some updates, particularly the rear unit's bathroom with a more contemporary vanity and shower tile, but the front unit's bathroom shows older elements. While livable, the property shows signs of being outdated, particularly in the kitchens, and lacks a comprehensive cooling system (only a mini-split is visible in one area). Major systems (plumbing, electrical, HVAC) are likely original or older, aligning with a property built nearly 50 years ago with renovations likely occurring 15-30 years ago, suggesting it requires minor updates to meet current aesthetic and comfort standards.
Pros & Cons

Pros

Dual Residences & Income Potential: The property features two detached residences on a single parcel with R2P zoning, offering significant rental income potential from both units, including an existing tenant in the rear unit and a vacant front unit ready for immediate occupancy or lease.
Strategic Location: Located near Fullerton College, Cal State Fullerton, shopping, dining, and public transportation, enhancing desirability, rental demand, and long-term value.
Recent Major Upgrades: Both homes benefit from newer roofs, and the rear unit has an updated bathroom, suggesting reduced immediate maintenance concerns for a buyer.
Buyer Flexibility: The property is ideal for both investors seeking rental income and owner-occupants looking to live in one unit and rent out the other, offering versatile use.
Independent Utilities & Parking: Each unit has separate gas and electric meters, private yard space, and ample off-street parking with multiple garages, providing convenience and autonomy for residents.

Cons

MLS Listing Discrepancy: Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =6408, other record lot size in square feet = 6245. Living area discrepancy between mls listing and other public or private record. mls listing living area = 1804, other record living area = 1119. Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 5, other record bedroom count = 2.
Shared Water Meter: While gas and electric meters are separate, the shared water meter for both units could lead to potential disputes or require a system for cost allocation between tenants.
Age of Property & Potential System Updates: Built in 1975, the property is nearly 50 years old. While some updates are noted, major systems (e.g., plumbing, electrical, HVAC) may be original or nearing end-of-life, potentially requiring future capital expenditure.
Lack of Mentioned Cooling System: The property description does not specify the presence of a cooling system (e.g., air conditioning), which could be a significant drawback in California's climate and a potential cost for future installation.

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