218 W Wilson Avenue, Orange, California 92867, Orange, - bed, bath
ACTIVE UNDER CONTRACT$2,895,000
218 W Wilson Avenue, Orange, California 92867
0Bed
0Bath
6,175Sqft
9,969Lot
Year Built
1961
Close
-
List price
$2.9M
Original List price
$3.19M
Price/Sqft
-
HOA
-
Days on market
-
Sold On
-
MLS number
PW25157695
Home ConditionFair
Features
Patio
View-
About this home
Rare opportunity to acquire a pride-of-ownership 10-unit apartment building, professionally managed by long-term family ownership. The gated, two-story property features a central courtyard and bright, well-kept units, some upgraded with tile or laminate wood flooring, dual-pane windows, quartz countertops, walk-in closets, and fresh paint. Each unit includes an enclosed garage. The on-site laundry room is secured and fully equipped. Air conditioning, heating, ceiling fans, oven/range, and disposal. Centrally located near major freeways and shopping centers, this asset offers a strong mix of comfort, convenience, and income stability in a high-demand rental corridor.
Price History
Date
Event
Price
08/30/25
Price Change
$2,895,000
07/19/25
Listing
$3,195,000
Condition Rating
Fair
The property was built in 1961, making it over 60 years old. While the description notes 'some upgraded with tile or laminate wood flooring, dual-pane windows, quartz countertops, walk-in closets, and fresh paint,' the images reveal that the kitchens and bathrooms, at least in the units pictured, feature older styles. Kitchens have white tile countertops, basic white cabinets, and standard white appliances (gas range). Bathrooms show pedestal sinks and older light fixtures. The flooring is a mix of tile and laminate, and wall heaters are visible, indicating older heating systems. The property appears well-maintained and clean, suggesting regular upkeep, but the overall aesthetic and many components are outdated, aligning with the 'Fair' category where major components are functional but show signs of being outdated and require minor updates.
Pros & Cons
Pros
Strong Income-Generating Asset: A 10-unit apartment building offers significant rental income potential and stability, making it an attractive investment property.
Professional Management & Maintenance: The property is professionally managed by long-term family ownership, indicating a high level of care, pride-of-ownership, and potentially well-maintained operations.
Desirable Unit Amenities & Upgrades: Units feature valuable upgrades such as dual-pane windows, quartz countertops, walk-in closets, and fresh paint, along with essential amenities like AC, heating, and ceiling fans, enhancing tenant appeal.
Tenant Convenience & Security: Each unit includes an enclosed garage, a highly sought-after amenity, and the property boasts a gated entrance with a secured, fully equipped on-site laundry room, adding significant value for residents.
Prime Location & Market Demand: Centrally located near major freeways and shopping centers in a high-demand rental corridor, ensuring strong tenant interest and potential for consistent occupancy and rent growth.
Cons
Building Age & Potential Infrastructure: Built in 1961, the property's age suggests potential for aging core infrastructure (e.g., plumbing, electrical systems, roof) that may require significant capital expenditures in the future, despite unit-level upgrades.
Inconsistent Unit Upgrades: The description notes 'some units upgraded,' implying not all units have received modern renovations. This inconsistency could lead to varying rental rates and necessitate further investment to standardize unit quality across the property.
Limited Common Area Amenities: While featuring a central courtyard and laundry, the property lacks modern common area amenities such as a fitness center, pool, or dedicated recreational spaces, which could be a competitive disadvantage against newer developments.