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$3,300,000
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Property Description
TWO RARE TUSTIN FOURPLEXS ON TWO SEPARATE HUGE LOTS, CONVENTIONAL CONFORMING FINANCING (2 separate loans) - TWO SEPARATE PROPERTIES BEING SOLD TOGETHER; each property will qualify for it's own financing no commercial loan necessary!!! 164 Preble Drive (APN 401-591-14) and 172 Preble Drive (APN 401-591-15); Approximately 23,387 square feet (over a half acre) according to county records. Close to Police Station, Library, Community Center, Old Towne Tustin, City Cultural and Administrative Centers, Food, Stores, and Restaurants; lots to explore and all within walking distance. Each property is comprised of 4 two bedroom one bath units (approximately 900 sqft each), 4 garage spaces, laundry room, and 6 open parking spaces (Total of 8 units, 8 garage spaces, 2 laundry rooms, and 12 open parking spaces). Each unit has a large enclosed patio off the dining area and a wood burning fireplace. Upside in rents, current rents shown go into effect March 1, 2025. Laundry rooms are currently on month-to-month lease so new owner can negotiate a new contract with laundry company or put own machines in for even more income. Separately metered for electric, no gas, all units are 100% electric. Both buildings have been repiped with pex and have had the roof replaced in the last 10 years. Convenient location near the 5 and 55 freeways.
Full Property Details
Full Property Details for 164 & 172 Preble Dr
General
- Sold For: $3,300,000
- Status: Closed
- Type: Multi-Family
- Source: MRMLS
- MLS ID: OC24214946
- Added to Site: 533 day(s) ago
Interior
- Rooms/Areas: Walk-In Closet, All Bedrooms Down, Kitchen, Living Room
- Fireplace(s): Wood Burning, Living Room
- Appliances: Water Heater, Disposal, Electric Water Heater, Vented Exhaust Fan, Free-Standing Range, Range Hood, Electric Range
- Flooring: Vinyl, Carpet, Laminate
Rooms
Other Rooms
- Laundry: Inside, Individual Room, Electric Dryer Hookup, Community, Washer Hookup, Common Area
Additional Information
- Pool Description: None
- Spa Description: None
Exterior
- Exterior Features: Rain Gutters, Lighting
Parking
- Garage Spaces: 8
- Parking Features: Garage, Assigned, Tandem Garage, Built-In Storage, Private, Garage Door Opener
- Parking: Garage, Assigned, Tandem Garage, Built-In Storage, Private, Garage Door Opener
Location
- Area: 71 - Tustin
- County: Orange
- Development Name: 71 - Tustin
- Driving Directions: 164 & 172 PREBLE DRIVE - CORNER OF PREBLE AND SECOND
Heating & Cooling
- Cooling Type: Wall/Window Unit(s)
- Heating Type: Fireplace(s), Electric
Utilities
- Sewer: Public Sewer
- Water: Public
- # Water Meters: 2
- # Electric Meters: 10
Structural Information
- Architectural Style: Traditional
- Foundation: Slab
- Roof: Composition, Shingle
- Windows: Blinds, Screens
- Entry Location: front
- Stories/Levels: One
- Stories Description: One
- Square Feet: 7,200
- Year Built: 1964
Unit Information
Unit 1
- Number of Units: 1
- Total Bathrooms: 1
- Bedrooms: 2
Unit 2
- Number of Units: 1
- Total Bathrooms: 1
- Bedrooms: 2
Unit 3
- Number of Units: 1
- Total Bathrooms: 1
- Bedrooms: 2
Unit 4
- Number of Units: 1
- Total Bathrooms: 1
- Bedrooms: 2
Unit 5
- Number of Units: 1
- Total Bathrooms: 1
- Bedrooms: 2
Unit 6
- Number of Units: 1
- Total Bathrooms: 1
- Bedrooms: 2
Unit 7
- Number of Units: 1
- Total Bathrooms: 1
- Bedrooms: 2
Unit 8
- Number of Units: 1
- Total Bathrooms: 1
- Bedrooms: 2
Lot Features
- Property View: None
- Lot Size (Acres): 0.5369
- Lot Size Source: Appraiser
- Lot Description: 0-1 Unit/Acre
Financial Considerations
- Price Per Sq. Ft.: $458.33
- Price Per Unit: 462500
Listed by ASM Investments, Jay Johnson
Sold by Compass, Pardis Shooli and Compass, Kacey Taormina
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Schools
Schools serving 164 & 172 Preble Dr
School District:Tustin Unified School District
| Name | Grades | Distance |
|---|---|---|
Guin Foss Elementary School 18492 Vanderlip Avenue, Santa Ana, CA 92705 | K-5 | 1 mi |
Columbus Tustin Middle School 17952 Beneta Way, Tustin, CA 92780 | 6-8 | 0.4 mi |
Tustin High School 1171 El Camino Real, Tustin, CA 92780 | 9-12 | 0.6 mi |
Disclaimer:
School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 164 & 172 Preble Dr
Date
Details
Price
Change
Source
3/25/2026
Sold
$3,300,000
-10.81%
MLS
2/05/2025
Price Reduced
$3,700,000
-2.63%
MLS
1/18/2025
Price Reduced
$3,800,000
-2.56%
MLS
12/02/2024
Price Reduced
$3,900,000
-4.88%
MLS
11/17/2024
Price Reduced
$4,100,000
-2.38%
MLS
10/30/2024
Price Reduced
$4,200,000
-4.55%
MLS
10/18/2024
Listed
$4,400,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
164 & 172 Preble Drive, Tustin, CA 92780 (MLS# OC24214946) is a Multi-Family property that was sold at $3,300,000 on March 25, 2026. Want to learn more about 164 & 172 Preble Drive? Do you have questions about finding other Multi-Family real estate for sale in Tustin Ranch? You can browse all Tustin Ranch real estate or contact a Coldwell Banker agent to request more information.

