NOT LISTED FOR SALE
24 Beds
25 Baths
25,524 Sq Ft
0.34 Acre Lot

Sale Details

Date Sold: March 31, 2023

Last sale price $10,500,000 $411 Per Sq Ft

12 Days on Market

Highlights

  • Rooftop Deck
  • City View
  • Contemporary Architecture
  • Palms Middle School Rated A-
  • 0.34 Acre Lot
  • Balcony

About This Home

As of March 2023

Extremely well-maintained 25-unit building has oversized units with stunning contemporary interiors, polished concrete floors & modern condo-quality designer finishes. Wonderful open floorplans, gourmet kitchens, custom countertops, designer cabinetry, stainless steel appliances, washer & dryer in every unit, and most have large balconies. On-site fitness center, rooftop lounge with views, beautiful landscaping, electronic phone-activated entry system, pre-wired for broadband and networking. Solar power for house electric. RUBS for gas, water, sewer, trash and recycling. RUBS is grandfathered in for this building. MAJOR UPSIDE POTENTIAL FOR RAISING CAP RATE. Rents have not been raised in approximately three and a half years. 40% of the building is currently eligible for 10% rent increases which will raise the Cap Rate. This building is NOT rent controlled, so rents can be raised more than 10%. Seller owns all appliances, including washer/dryers, microwaves, range/ovens, dishwashers and refrigerators. Beautiful, clean building, convenient location. True pride of ownership.

Last Agent to Sell the Property

James Muske

Coldwell Banker Realty License #00758095 Listed on: 02/18/2023

Coldwell Banker Realty

Last Buyer's Agent

Iman Eshaghyan

Coldwell Banker Realty License #01494608

Coldwell Banker Realty
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Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 2013

Lot Details

  • 14,637 Sq Ft Lot

Home Design

  • Contemporary Architecture

Interior Spaces

  • 25,524 Sq Ft Home
  • 4-Story Property
  • Built-In Features
  • Sliding Doors
  • City Views

Kitchen

  • Oven
  • Range
  • Microwave
  • Dishwasher
  • Disposal

Bedrooms and Bathrooms

  • 24 Bedrooms
  • 25 Bathrooms

Laundry

  • Laundry in unit
  • Dryer
  • Washer

Parking

  • 25 Parking Spaces
  • Private Parking
  • Assigned Parking
  • Controlled Entrance

Outdoor Features

  • Balcony
  • Rooftop Deck

Utilities

  • Central Heating and Cooling System
  • Sewer in Street

Community Details

  • 25 Units
  • Card or Code Access

Listing and Financial Details

  • The owner pays for gardener
  • Assessor Parcel Number 4252-037-042

Property Details

Home Type

Multi-Family

Year Built

Built in 2013

Lot Details

0.34 Acres

Listing Details

  • Property Type: Residential Income
  • Style: Contemporary
  • Street Number Display: Yes
  • Building Permit: Yes
  • Entry Location: Main Level
  • Living Area: 25524
  • Lot Acreage: 0.3360
  • Probate: No
  • Stories: 4
  • Year Built: 2013
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Interior Amenities: Built-Ins
  • Appliances: Microwave, Built-Ins, Oven, Range
  • Bedrooms: 24
  • Laundry: In Unit
  • Total Bathrooms: 25.00
  • Equipment: Built-Ins, Dishwasher, Garbage Disposal, Microwave, Range/Oven, Washer, Dryer
  • Price Per S Q F T: 507.17

Exterior Features

  • Other Features: Balcony, Sliding Glass Doors, Custom Built
  • Other Structures: None
  • Patio: Roof Top Deck
  • View: City
  • View: Yes

Garage/Parking

  • Parking Garage: Controlled Entrance, Private, Assigned
  • Total Parking: 25

Utilities

  • Cooling: Central
  • Heating: Central
  • Security: Card/Code Access
  • Sewer: In Street

Lot Info

  • Assessed Improvement Percent: 34.88
  • Assessed Land Percent: 65.12
  • Assessor Parcel Number: 4252-037-042
  • Lot Size Area: 14637

Rental Info

  • Owner Pays: Gardener
  • Rent Control: No

Multi Family

  • Unit Type: 2106, 2107
  • Gross Rent Multiplier: 18.25
  • Number Of Units: 25
  • Type Of Units: Apartment

Ownership History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Name Owned For Owner Type

Purchase Details

Listed on
Feb 18, 2023
Closed on
Mar 29, 2023
Sold by
Vista Louise Llc
Bought by
Seller's Agent
James Muske
Coldwell Banker Realty
Buyer's Agent
Iman Eshaghyan
Coldwell Banker Realty
List Price
$12,945,000
Sold Price
$10,500,000
Premium/Discount to List
-$2,445,000
-18.89%
Views
129

Purchase Details

Listed on
Apr 15, 2014
Closed on
May 22, 2014
Sold by
P Lofts Llc
Bought by
Vista Louise Llc
Seller's Agent
Gary Fox
Miller & Desatnik Realty Co.
Buyer's Agent
James Muske
Coldwell Banker Realty
List Price
$10,895,000
Sold Price
$10,750,000
Premium/Discount to List
-$145,000
-1.33%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
-0.27%
Original Mortgage
$4,950,000
Interest Rate
4.07%
Mortgage Type
Commercial

Purchase Details

Listed on
Apr 30, 2012
Closed on
Jun 26, 2012
Sold by
Metza Beverly J and The Wautelet Trust
Bought by
P Lofts Llc
Seller's Agent
Mike HassanPour
Coldwell Banker Realty
Buyer's Agent
Subscriber Non
Non-Participant Office
List Price
$1,650,000
Sold Price
$1,650,000

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
166.77%
Original Mortgage
$1,320,000
Interest Rate
3.53%
Mortgage Type
Commercial

Purchase Details

Closed on
Aug 11, 2008
Sold by
Metza Beverly J and Wautelet Trust
Bought by
Metza Beverly J and Wautelet Trust
Source: Public Records

Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Agents Specializing in Palms, CA

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Purchase History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Buyer Sale Price Title Company
$10,500,000 Equity Title Company
Vista Louise Llc $10,750,107 First American Title Ins Co
P Lofts Llc $1,650,016 First American Title Ins Co
Metza Beverly J -- None Available
Source: Public Records

Mortgage History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Status Borrower Loan Amount
Open $5,750,000
Previous Owner Vista Louise Llc $1,300,000
Previous Owner Vista Louise Llc $4,950,000
Previous Owner P Lofts Llc $4,384,000
Previous Owner P Lofts Llc $1,320,000
Source: Public Records

Property History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Event Price List to Sale Price per Sq Ft Prior Sale
03/31/2023 03/31/23 Sold $10,500,000 -18.9% $411 / Sq Ft
03/14/2023 03/14/23 Price Changed $12,945,000 0.0% $507 / Sq Ft
03/14/2023 03/14/23 For Sale $12,945,000 -16.5% $507 / Sq Ft
03/02/2023 03/02/23 Pending -- -- --
02/18/2023 02/18/23 For Sale $15,495,000 +44.1% $607 / Sq Ft
07/11/2014 07/11/14 Sold $10,750,000 -1.3% $410 / Sq Ft View Prior Sale
04/18/2014 04/18/14 Pending -- -- --
04/15/2014 04/15/14 For Sale $10,895,000 +560.3% $415 / Sq Ft
08/14/2012 08/14/12 Sold $1,650,000 0.0% $2,070 / Sq Ft View Prior Sale
08/14/2012 08/14/12 Pending -- -- --
04/30/2012 04/30/12 For Sale $1,650,000 -- $2,070 / Sq Ft
Source: The MLS

Tax History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

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
2026 $133,009 $11,142,683 $7,322,335 $3,820,348
2025 $133,009 $10,924,200 $7,178,760 $3,745,440
2024 $131,424 $10,710,000 $7,038,000 $3,672,000
2023 $151,884 $12,418,192 $8,086,267 $4,331,925
2022 $144,812 $12,174,699 $7,927,713 $4,246,986
2021 $142,992 $11,935,980 $7,772,268 $4,163,712
2019 $138,757 $11,581,954 $7,541,739 $4,040,215
2018 $137,876 $11,354,858 $7,393,862 $3,960,996
2016 $131,766 $10,913,937 $7,106,750 $3,807,187
2015 $129,828 $10,750,000 $7,000,000 $3,750,000
2014 $22,073 $1,657,491 $1,657,491 $0
Source: Public Records

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Map

Source: The MLS

MLS Number: 23-243037

The MLS

APN: 4252-037-033

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