Most multifamily listings in Orange County are one building type. 7781 15th St in Westminster is two. A detached 1928 front house sits at the street, and a 1987-built triplex sits behind it, all on an 11,326 sq ft (0.26-acre) lot. Four residential units, two construction eras, one address.
This article is the starting point for a 45-day series on the property. Over the next six weeks we will go deep on the finances, the location, the units, and the auction process. Today is the big picture: what the property is, and why the hybrid layout is the main thing that sets it apart.
The property at a glance
- Address: 7781 15th St, Westminster, CA 92683
- List price / starting bid: $2,325,000
- Configuration: Quadruplex made up of a detached 1928 house and a 1987 triplex
- Lot: 11,326 sq ft (0.26 acres)
- Building area: 3,836 sq ft total, which works out to about $606.10 per sq ft at the list price
- Parking: Four detached garages plus a concrete driveway
- Utilities: Separately metered, with 5 electric and 4 gas meters
Two structures, two personalities
The 1928 front house is a 2-bedroom, 1-bath home with the kind of character that is hard to find in newer construction, including coved ceilings, solid-core doors, and hardwood floors under the carpet. It reads as a single-family home because it is one: detached, with its own frontage.
The 1987 rear triplex is three 2-bedroom, 2-bath units on a concrete slab foundation. It is newer, more uniform, and built for straightforward rental operation. Central air conditioning and forced-air heating serve the triplex, and each unit has its own water heater and laundry hookups.
Putting them together gives the buyer something unusual: a historic-character asset and a modern rental asset under one ownership, without sharing walls between the front house and the units behind it.
Why the hybrid matters
Different buyers can read the same property in different ways.
- Owner-occupants (house hackers) can live in the detached front house and rent the three rear units. The detached layout offers more separation than a typical stacked quad.
- Investors and 1031 exchange buyers can focus on the income: $112,128 in actual annual gross scheduled income, $39,245 in annual operating expenses, and a current net operating income of $72,883.
- Value-add buyers can look at the gap between actual and pro forma rents. The pro forma gross scheduled income is $148,800, which is $36,672 above current rents.
- Multi-generational buyers can picture family members living in four separate homes on a shared lot.
Operational simplicity
Separate metering is a practical advantage. With five electric and four gas meters, utility costs are tracked by unit rather than blended into one owner-paid bill. Four detached garages and a concrete driveway also mean parking is not an afterthought, which matters in a dense Orange County neighborhood.
What this series will cover
Over 45 days we will move through six phases: the asset itself, the house-hacking playbook, the financial and 1031 exchange analysis, the Westminster location, virtual tours and upgrade ideas, and finally the bidding process. Each article uses the property's actual numbers, and where we use illustrative assumptions we will say so.
Key takeaways
- The property combines a detached 1928 front house and a 1987 rear triplex, which gives buyers two different building types on one lot.
- Reported figures include $112,128 in actual annual income, $39,245 in operating expenses, and $72,883 in NOI, all of which you should verify.
- Different buyers can use it differently: living on site, holding for income, improving units, or housing family.
Next step
If you want the full picture before the daily articles arrive, request the property brochure. It collects the unit mix, income figures, and site details in one place, so you can follow along with the numbers in front of you.
Listed by Century Financial Group Corp. (Karen Luu). Figures reflect seller-provided information and are not guaranteed. Buyers should verify all details during due diligence. This article is general information, not tax, legal, or financial advice.