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    2024 Wilshire Ave Fullerton, CA 92831
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    Property profile & analytics

    2024 Wilshire Ave Fullerton, CA 92831

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    • Commercial real estate
    • 4,196 SF
    Off-Market
    Property ID
    US09-2405155
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 2024 Wilshire Ave

    Year built
    1963
    Property size
    4,196 SF
    Property type
    Commercial real estate
    APN
    269-094-03

    Description

    This exceptional 4-unit apartment building, located at 2024 E. Wilshire Avenue in Fullerton, California, presents a compelling investment opportunity. Built in 1963, this well-maintained property boasts 4,196 square feet on an 8,657 square foot lot. The building features a desirable unit mix: two two-bedroom/two-bathroom units and two three-bedroom/two-bathroom units, each with private patios and fireplaces. Amenities include central heating and air conditioning, an on-site laundry facility, and three double-car garages, providing a generous 1.5:1 parking ratio. Recent upgrades include the installation of all new electrical sub-panels for each unit and laundry room, as well as the main electrical panel. The property is fully SB 721 compliant, having undergone inspections by a licensed contractor. Individual electric and gas meters are installed for each unit. This property is situated in a prime Fullerton location near Cal State Fullerton and offers significant potential, including the possibility of adding an accessory dwelling unit (ADU). The asking price is $1,850,000, representing a price per unit of $462,500 and a price per square foot of $440.90. The current NOI is $80,223, with a pro-forma NOI of $94,015, yielding a cap rate of 4.34% and a pro-forma cap rate of 5.08%. This property is being offered for sale for the first time in over 55 years and can be purchased with the adjacent property at 2030 E. Wilshire Avenue. The property's APN is 269-094-03.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Fullerton
    County
    Orange
    State
    California
    Longitude
    -117.8952344
    Latitude
    33.8722878

    Comparable in this City

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      Fullerton Multifamily Investment Opportunity

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      Fullerton Apartment Complex For Sale

      Six-unit apartment complex in Fullerton with recent upgrades and ADU potential.
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      Fullerton Multifamily Investment Opportunity

      Four-unit multifamily property near California State University Fullerton.
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    Similar Nearby for Sale

    • $1,275,000

      Fullerton Multifamily Property with ADUs

      Move-in ready house plus two new ADUs in Fullerton.
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    • $6,090,000
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      Fullerton Apartment Complex For Sale

      18-unit apartment complex in a high-demand Fullerton location.
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    • $6,090,000
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      Fullerton Multifamily Investment Opportunity

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      Fullerton Apartment Complex For Sale

      Six-unit apartment complex in Fullerton with recent upgrades and ADU potential.
      2024 E Whiting Ave East, Fullerton, CA 92831
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      Fullerton Multifamily Investment Opportunity

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      2625 Andover Ave, Fullerton, CA 92831
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    Similar Nearby for Lease

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      Retail Space Available For Rent

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      1,280 SF

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      Distribution/Manufacturing Building with Freeway Access

      Distribution/Manufacturing building with excellent access to multiple freeways.
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    Fullerton, CA 92831
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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