NOT LISTED FOR SALE

Estimated Value: $944,000 - $1,113,000

5 Beds
2 Baths
1,543 Sq Ft
$653/Sq Ft Est. Value

Last Sold September 25, 2019

Last sale price $770,000 $499 Per Sq Ft

Est. 31% increase in value since last sale

Current estimated payment $6,175/month

49 Days on Market

Highlights

  • Property is near a park
  • Spanish Architecture
  • Balcony
  • Woodrow Wilson High School Rated A
  • Beamed Ceilings
  • Built-In Features

About This Home

As of September 2019

This is a special property and feels more like a home than rental units. So much so that one of the tenants attempted to purchase the property prior to it going in the MLS. The bottom unit is a two bedroom, currently with street parking only. The wood beam ceiling interior has all the old world charm you would expect from a classic Spanish property in Zafaria, The original white kitchen cabinets with black counter tops and colored back splash tile is in very good condition and exactly what renters are looking for in this area. The bathroom has a upgraded tile work in the shower over tub combo but retains the character to go with the 1920's floor tile and vanity. Hardwood floors complete this list of features people are looking for. The upstairs unit is a match of the bottom unit, only the living room extends over the carport area adding enough room that it creates room for a third very functional bedroom, leaving the living room the same size and the downstairs unit. The top floor unit also enjoys a balcony off the back door that over looks the brick patio yard in the back of the lot. There is a two car garage that is currently dedicated to the 3 bedroom unit with an attached shared laundry room for both tenants. Each unit has it's own elec & gas meters as well as individual gas water heaters. Located in a very walk-able area with food, drinks, shopping, golf and a dog park near by. This is a beautiful & well maintained pride of ownership property that you will enjoy owning.

Last Agent to Sell the Property

Jack Tanner

Beach Cities Properties, Inc. License #01383525 Listed on: 07/03/2019

Last Buyer's Agent

Marti Brown

Keller Williams Pacific Estate License #01904671

Keller Williams Pacific Estate

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $10,658

Year Built

  • Built in 1923

Lot Details

  • 2,840 Sq Ft Lot
  • 1 Common Wall
  • West Facing Home

Parking

  • 2 Car Garage
  • 2 Open Parking Spaces
  • 1 Attached Carport Space
  • Parking Available
  • Driveway Up Slope From Street

Home Design

  • Spanish Architecture
  • Property Attached
  • Turnkey
  • Flat Roof Shape
  • Raised Foundation
  • Stucco

Interior Spaces

  • 1,543 Sq Ft Home
  • Built-In Features
  • Beamed Ceilings

Kitchen

  • Gas Range
  • Tile Countertops

Bedrooms and Bathrooms

  • 5 Bedrooms
  • 2 Bathrooms

Laundry

  • Laundry Room
  • Laundry Located Outside

Outdoor Features

  • Balcony
  • Exterior Lighting

Additional Features

  • Property is near a park
  • Natural Gas Connected

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Tax Lot 6
  • Tax Tract Number 25
  • Assessor Parcel Number 7241012084

Community Details

Building Details

  • 2 Leased Units
  • 3 Separate Electric Meters
  • 3 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $350
  • Gardener Expense $360
  • Insurance Expense $1,020
  • Trash Expense $270
  • Water Sewer Expense $947
  • New Taxes Expense $9,687
  • Operating Expense $12,634
  • Gross Income $43,080
  • Net Operating Income $37,706

Additional Features

  • 2 Units
  • Laundry Facilities

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$10,658

Year Built

Built in 1923

Lot Details

0

Parking

2

Listing Details

  • CapRate: 4.90
  • Property Attached: Yes
  • Subdivision Name Other: Zafaria
  • Water Sewer Expenses: 947.00
  • Zoning: LBR1S
  • Architectural Style: Spanish
  • Property Condition: Turnkey
  • Property Type: Residential Income
  • Gardener Expense: 360.00
  • Parcel Number: 7241012084
  • Year Built: 1923
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: No
  • Interior Amenities: Balcony, Beamed Ceilings, Built-in Features, Tile Counters
  • Common Walls: 1 Common Wall
  • Appliances: Yes
  • Price Per Square Foot: 499.03

Exterior Features

  • Direction Faces: West
  • Foundation: Raised
  • Pool Private: No
  • Roof: Flat
  • Spa: No
  • Construction Materials: Stucco

Garage/Parking

  • Carport Spaces: 1.00
  • Garage Spaces: 2.00
  • Parking: Yes
  • Parking Features: Attached Carport, Driveway, Driveway Up Slope From Street, Garage
  • Total Parking Spaces: 5.00
  • Uncovered Spaces: 2.00

Utilities

  • Utilities: Electricity Connected, Natural Gas Connected, Water Connected
  • Laundry: Yes
  • Appliances: Gas Range
  • Laundry Features: Common Area, Individual Room, Outside
  • Sewer: Public Sewer
  • Trash Expense: 270.00
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Sidewalks, Street Lights

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Park Nearby
  • Lot Size Sq Ft: 2840.00
  • Lot Size Acres: 0.0652

Rental Info

  • Tenant Pays: Electricity, Gas

Multi Family

  • Average2 Bed Area: 710 Square Feet
  • Average3 Bed Area: 833 Square Feet
  • Electric Expense: 350.00
  • Gross Income: 43080.00
  • Gross Multiplier: 15.39
  • Gross Scheduled Income: 50340.00
  • Insurance Expense: 1020.00
  • Laundry Equipment Own Lease: Own
  • Lot Size Area: 2840.0000 Square Feet
  • Net Operating Income: 37706.00
  • Number Of Separate Electric Meters: 3
  • Number Of Separate Gas Meters: 3
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 2
  • Number Of Units Total: 2
  • Number With Patio: 1
  • Number With Range: 2
  • Operating Expense: 12634.00
  • Rent Control: No
  • Total Actual Rent: 3715.00
  • Total Expenses: 12634.00

Tax Info

  • New Taxes Expense: 9687.00
  • Tax Census Tract: 5770.00
  • Tax Lot: 6
  • Tax Tract Number: 25

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jul 3, 2019
Closed on
Aug 23, 2019
Sold by
Torre Anna Dongarro De La and Verrecchia Living Trust
Bought by
Gk Huson Llc
Seller's Agent
Jack Tanner
Beach Cities Properties, Inc.
Buyer's Agent
Marti Brown
Keller Williams Pacific Estate
List Price
$775,000
Sold Price
$770,000
Premium/Discount to List
-$5,000
-0.65%
Current Estimated Value
$1,008,013

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$238,013
Avg. Annual Appreciation
4.51%

Purchase Details

Closed on
Feb 9, 2004
Sold by
Mueller Dombois Michelle C
Bought by
Mueller Dombois Stephan

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$356,000
Interest Rate
5.65%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Feb 5, 2004
Sold by
Verrecchia Nellie Yolanda
Bought by
Verrecchia Nellie Yolanda and Verrecchia Living Trust

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$356,000
Interest Rate
5.65%
Mortgage Type
Purchase Money Mortgage
Source: Public Records

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Gk Huson Llc $770,000 None Available
Mueller Dombois Stephan -- Commonwealth Land Title Co
Verrecchia Nellie Yolanda -- Commonwealth Land Title Co
Verrecchia Nellie Yolanda $445,500 Commonwealth Land Title Co
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Verrecchia Nellie Yolanda $356,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
09/25/2019 09/25/19 Sold $770,000 -0.6% $499 / Sq Ft
08/21/2019 08/21/19 Pending -- -- --
08/19/2019 08/19/19 For Sale $775,000 0.0% $502 / Sq Ft
07/20/2019 07/20/19 Pending -- -- --
07/10/2019 07/10/19 For Sale $775,000 +0.6% $502 / Sq Ft
07/09/2019 07/09/19 Off Market $770,000 -- --
07/03/2019 07/03/19 For Sale $775,000 -- $502 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

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 $10,658 $842,102 $546,820 $295,282
2024 $10,658 $825,592 $536,099 $289,493
2023 $10,480 $809,405 $525,588 $283,817
2022 $9,832 $793,535 $515,283 $278,252
2021 $9,640 $777,977 $505,180 $272,797
2020 $9,615 $770,000 $500,000 $270,000
2019 $7,238 $567,803 $318,635 $249,168
2018 $7,044 $556,671 $312,388 $244,283
2016 $6,480 $535,057 $300,258 $234,799
2015 $6,219 $527,021 $295,748 $231,273
2014 $6,177 $516,698 $289,955 $226,743
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW19158123

California Regional Multiple Listing Service (CRMLS)

APN: 7241-012-084