Yup…and there is a small catch (and a big bonus). Let’s start with the catch — this home is…compact and efficient. Though, some people might also call it small and cramped. It’s 407 square feet — which is about the size of many studio apartments. But being a single family home, the space expands to the yard. And while it isn’t huge (the lot is just under 2200 square feet) — it really expands the livability of this house.
I actually think this makes a great first home because you get all of the same benefits…just in smaller quantities. And if you are worried about many lenders have a minimum size home they will lend on…they do have a minimum: 400 square feet in most cases.
Now I also said this house has a bonus, too. It already has a Mills Act contract. Mills Act is the wonderful California law that allows for some historic properties to obtain relief on their property taxes. They do using a different calculation for the property’s assessed value. In this case, for the 2018/2019 tax year it’s assessed at just under $152,000. Using a very rough calculation (email me for something more specific) this is a savings of about $350/mo. It’s like paying $60k less for the house.
I wouldn’t sit on this one. You know you want to take a look and we want to show it to you. Hit us up and we can make it happen.
|Home size||407 sq ft|
|Lot Size||2,178 sqft|
|Days on Market||97|
This cute 1930's California bungalow located in the heart of the Historic Old Towne District of Orange is just steps from Pitcher Park. Charming front porch leads into the living room with hardwood floors. The kitchen features include a La Germania stainless steel stove with glass lid and period tiled counters. Bedroom features a walk-in closet. The bathroom has a vintage claw foot tub, period hex black/white floor tiles, original clothes hamper and pedestal sink. Garage has newer roll up door, laundry hookups and storage. Trex deck and portico off the kitchen. Walk to Old Towne, schools, restaurants, and more. This Historic Home is currently under the "Mills Act".
Property Type(s): Single Family
|Year Built||1930||Community||OTO - Old Towne Orange|
|Prior to Jul 3, '19||$585,000|
|Jul 3, '19 - Jul 12, '19||$549,500|
|Jul 12, '19 - Today||$525,000|
|School District||Orange Unified|
|Lot||2178 sq ft||Area||OTO - Old Towne Orange|
|HOA Dues||0.00||Parking||Spaces: 1.00|
|Pool Description||None||Sewer||Public Sewer|
|Stories||1||Utilities||Electricity Connected,Natural Gas Connected,Sewer Connected|
|Garage||Direct Garage Access, Driveway, Driveway Level|
|Lot Description||Park Nearby|
Listing information deemed reliable but not guaranteed. Read full disclaimer.
Listing provided by : Kim Zappulla CalDRE: 01056984, Keller and Associates Realty/P