NOT LISTED FOR SALE

1047 Ronan Ave Wilmington, CA 90744

8 Beds
8 Baths
3,922 Sq Ft
7,579 Sq Ft Lot

Last Sold May 22, 2013

Last sale price $693,000 $177 Per Sq Ft

217 Days on Market

Highlights

  • Gated Parking
  • Property is near park
  • Living Room
  • Contemporary Architecture
  • No HOA
  • Turnkey

About This Home

As of May 2013

NO RENT CONTROL! West Wilmington 8 unit apartment building with good upside rent potential. All units include stoves. Refrigerators belong to tenants. Low operating costs. Property includes 13 off street parking spaces. In front are 5 single parking spaces and 4 tandems parking spaces in the rear with 1 single space. Property is partially fenced in the front and sides. On-site manager is bi-lingual, handles a multitude of responsibilities and pays rent as well. Seller has made repairs to all units. In addtion, seller states all heaters are in working order, all stove hood vents are in working order, Smoke and CO detectors, as well as GCFI's, are compliant. Please do not disturb tenants.

Last Agent to Sell the Property

Kim Howard

West Shores Realty, Inc. License #01498911 Listed on: 03/08/2013

West Shores Realty, Inc.

Last Buyer's Agent

Larissa Rubijevsky

Estate Properties License #01347242

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1985

Lot Details

  • 7,600 Sq Ft Lot
  • Lot Dimensions are 50x152
  • Property fronts an alley
  • Level Lot

Home Design

  • Contemporary Architecture
  • Turnkey
  • Raised Foundation
  • Composition Roof
  • Stucco

Interior Spaces

  • 3,922 Sq Ft Home
  • Window Screens
  • Living Room
  • Fire and Smoke Detector
  • Disposal

Flooring

  • Carpet
  • Vinyl

Bedrooms and Bathrooms

  • 8 Bedrooms
  • 8 Bathrooms

Parking

  • 13 Parking Spaces
  • Parking Available
  • Private Parking
  • Gated Parking
  • Uncovered Parking
  • Parking Lot
  • Off-Street Parking
  • Unassigned Parking

Outdoor Features

  • Exterior Lighting
  • Rain Gutters

Location

  • Property is near park

Utilities

  • Wall Furnace
  • Gas Water Heater

Listing and Financial Details

  • Tenant pays for cable TV, electricity, gas
  • Legal Lot and Block 19 / C
  • Tax Tract Number 2945
  • Assessor Parcel Number 7515028018

Community Details

Overview

  • No Home Owners Association
  • 8 Units

Building Details

  • 8 Leased Units
  • 8 Separate Electric Meters
  • 8 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $480
  • Insurance Expense $1,464
  • Maintenance Expense $2,500
  • Trash Expense $2,900
  • Water Sewer Expense $3,000
  • New Taxes Expense $9,238
  • Gross Income $6,030
  • Net Operating Income $47,218

Property Details

Home Type

Multi-Family

Year Built

Built in 1985

Lot Details

7,600 Sq Ft Lot

Listing Details

  • Assessments: Yes
  • CapRate: 6.38
  • Inclusions: Sale includes stoves in each unit.
  • Road Frontage Type: Alley
  • Security: Smoke Detector(s)
  • View: No
  • Water Sewer Expenses: 3000.00
  • Zoning: Lar1
  • Architectural Style: Contemporary
  • Property Condition: Turnkey
  • Property Type: Residential Income
  • Parcel Number: 7515028018
  • Year Built: 1985
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: No
  • Flooring: Carpet, Vinyl
  • Appliances: Yes
  • Levels: Two
  • Price Per Square Foot: 176.70
  • Room Type: Living Room
  • Window Features: Screens

Exterior Features

  • Foundation: Raised
  • Exterior Features: Rain Gutters
  • Pool Private: No
  • Roof: Composition
  • Spa: No
  • Construction Materials: Stucco

Garage/Parking

  • Parking: Yes
  • Parking Features: Gated, Off Street, On Site, Parking Space, Private, Unassigned, Uncovered
  • Total Parking Spaces: 13.00

Utilities

  • Utilities: Natural Gas Available, Sewer Available, Phone Connected
  • Heating: Yes
  • Laundry: No
  • Appliances: Disposal, Gas Water Heater
  • Heating Type: Wall Furnace
  • Trash Expense: 2900.00
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Curbs, Sidewalks, Street Lights, Storm Drains

Lot Info

  • Lot Features: Level, Lot 6500-9999, Park Nearby
  • Lot Size: 50x152
  • Lot Size Sq Ft: 7600.00
  • Lot Size Acres: 0.1740

Rental Info

  • Tenant Pays: Cable TV, Electricity, Gas

Multi Family

  • Electric Expense: 480.00
  • Gross Income: 6030.00
  • Gross Multiplier: 10.21
  • Gross Scheduled Income: 72360.00
  • Insurance Expense: 1464.00
  • Lot Size Area: 7600.0000 Square Feet
  • Maintenance Expense: 2500.00
  • Net Operating Income: 47218.00
  • Number Of Separate Electric Meters: 8
  • Number Of Separate Gas Meters: 8
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 8
  • Number Of Units Total: 8
  • Number With Carpet: 8
  • Number With Disposal: 8
  • Number With Range: 8
  • Operating Expense: 25142.00
  • Operating Expense Percent: 35.00
  • Rent Control: No
  • Total Actual Rent: 6030.00

Tax Info

  • New Taxes Expense: 9238.00
  • Tax Area: 400
  • Tax Block: C
  • Tax Lot: 19
  • Tax Tract Number: 2945
  • Tax Year: 2010
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
05/22/2013 05/22/13 Sold $693,000 -6.2% $177 / Sq Ft
03/16/2013 03/16/13 Pending -- -- --
08/11/2012 08/11/12 For Sale $739,000 -- $188 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $19,277 $1,550,400 $938,400 $612,000
2024 $19,277 $1,520,000 $920,000 $600,000
2023 $10,879 $820,234 $473,442 $346,792
2022 $10,405 $804,152 $464,159 $339,993
2021 $10,268 $788,385 $455,058 $333,327
2019 $9,982 $765,003 $441,561 $323,442
2018 $9,857 $750,003 $432,903 $317,100
2016 $9,381 $720,882 $416,094 $304,788
2015 $9,253 $710,054 $409,844 $300,210
2014 $9,332 $696,146 $401,816 $294,330
Source: Public Records

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: S12100974

California Regional Multiple Listing Service (CRMLS)
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