534 W Wilshire Ave, Fullerton, CA 92832

Property Description

Investments like this rarely come on the market. This property features 2 separate single family residences on 1 lot - each featuring 2 bedrooms and 1 bathroom, a large living room, full kitchen, separated private patios, and more. Both units have been recently upgraded with new kitchen cabinets, appliances, copper plumbing, and flooring. There is no deferred maintenance and nothing to fix. The front house is a 1920's Spanish Style with all the charm and original features, yet upgraded to newer major systems. The back unit is a 1960's traditional ranch house. Both homes feature double pane windows, ceiling fans, and their own exterior washer and dryer which are seller owned. Located walking distance to Downtown Fullerton, close to the Fullerton Public Library, a block away from parks, shopping and transportation - the location is amazing causing this property to be in high demand with rents exceeding similar properties with inferior locations. The property also features a detached garage with 2 garage doors - each for 1 car - so both units get their own garage space. It has everything a tenant looks for which gives you the ability to really grow the income potential of this property. The driveway can accommodate at least 4 additional cars - and street parking is allowed here as well. With a CAP rate of over 6% at current rents - and the ability to immediately increase this number - the potential upside is AMAZING!@!