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

home-pic
ACTIVE$1,399,000
612 S Paula Drive, Fullerton, California 92833
0Bed
0Bath
2,600Sqft
6,372Lot
Year Built
1952
Close
-
List price
$1.4M
Original List price
$1.4M
Price/Sqft
-
HOA
-
Days on market
-
Sold On
-
MLS number
OC25045711
Home ConditionFair
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.

Neighborhood Comparison

 SubjectAverage HomeNeighbourhood Ranking (1 Listings)
Beds00
Baths00
Square foot2,6001,808
50%
Lot Size6,37234,848
50%
Price$1.4M$975K
50%
Price per square foot$538$539.5
50%
Built year19529760992
50%
HOA
Days on market248171
50%
Condition Rating
Fair

The property was built in 1952 but has had some upgrades, including a new bathroom, windows, flooring, and roof. The kitchen comes with appliances. However, the overall condition appears to be aged, and while maintained, it's not a recent full renovation. The presence of solar panels and new AC units in the rental units is a plus, but the main house has a wall AC unit, suggesting it's not fully updated. The images show some updated flooring and fixtures, but the overall style is somewhat dated.
Pros & Cons

Pros

Income Potential: The property features two additional rental units, providing a significant income stream to offset mortgage costs.
Recent Upgrades: The property boasts new roofs, oversized electric solar units, hot water heaters, central air conditioning in the apartments, double-paned windows, and updated bathrooms, reducing immediate maintenance concerns.
Seller Financing: The seller offers financing options, including rent-to-own and mortgage options, potentially making the property more accessible to a wider range of buyers.

Cons

Main House Cooling: The main house has a wall air-conditioning unit, which may be less efficient or desirable compared to central air conditioning.
Probationary Period: The rent-to-own option includes a three-year probationary period, which may not be suitable for all buyers seeking immediate ownership.

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