M
Seller's Agent in 2019
Michael Hannon
Bradley Talbert, Broker
6
Beds
4
Baths
2,651
Sq Ft
1.12
Acres
Highlights
- Partially Fenced Property
- Heating System Uses Natural Gas
- 1-Story Property
- Rancho Buena Vista High School Rated A-
About This Home
As of December 2019PRICE REDUCED. Great 4 unit complex with 4 garages and a storage areas. The property has been under the same ownership for the past 15 years. The owner is ready to sell, does not need a 1031 exchange. The CAP Rate is 6.75 including rents and $500 monthly rent for one garage and one storage room. The new owners CAP RATE including adjusted real property taxes based on the asking price is 5.74 and the gross rent multiplier is just over 13. The property is also close to the mass transit station. This property has been well maintained. Appliances have been replaced as needed. There is little deferred maintenance. The units are all conforming and the property which is 1.12 acres can be subdivided into 4 lots, ( buyer to confirm with City). Sewer is available. Septic systems have been maintained as needed. This is an old family compound, with mature trees, lovely landscaping and a great breeze wafting off the the ocean. It unit has a private yard and the long term tenants love it. It has great up side potential. Use your imagination and think outside the box. In the meantime it is a very good deal at this price. Quentin Smith is the owner and is a licensed real estate agent with with Engel &Voelkers. Neighborhoods: Rancho Vista Other Fees: 0 Sewer: Septic Installed,Sewer Available,Perc Update Needed Unit # for Unit 1: 1017 Unit # for Unit 2: 1017 1/2 Unit # for Unit 3: 1019 Unit # for Unit 4: 1021 Number of Furnished Units: 0 Topography: GSL
Last Agent to Sell the Property
Michael Hannon
Bradley Talbert, Broker License #01251528 Listed on: 09/10/2019
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1940
Lot Details
- Partially Fenced Property
- Manual Sprinklers System
Home Design
- Composition Roof
Interior Spaces
- 1-Story Property
Bedrooms and Bathrooms
- 6 Bedrooms
- 4 Bathrooms
Utilities
- Heating System Uses Natural Gas
- Gas Water Heater
Listing and Financial Details
- Tenant pays for cable TV, electricity, gas
- Assessor Parcel Number 1792501800
Community Details
Overview
- 4 Buildings
- 4 Units
- Crest View
Building Details
- Net Operating Income $79,320
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 12/17/2019 12/17/19 | Sold | $1,090,000 | -7.2% | $411 / Sq Ft |
| 12/01/2019 12/01/19 | Pending | -- | -- | -- |
| 09/10/2019 09/10/19 | For Sale | $1,175,000 | -- | $443 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History Compared to Growth
Agents Affiliated with this Home
-
-
Quentin Smith
Seller Co-Listing Agent in 2019
Quentin Smith
Lily Field Realty
(858) 705-1500
2 Total Sales
-
Rusty Hannum
Buyer's Agent in 2019
Rusty Hannum
Zia Properties, Inc.
(619) 752-4139
1 in this area
3 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: 190050353
APN: 179-250-18-00
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The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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