NOT LISTED FOR SALE
4 Beds
3 Baths
2,789 Sq Ft
5,663 Sq Ft Lot Lot

Sale Details

Date Sold: May 17, 2019

Last sale price $2,000,000 $717 Per Sq Ft

235 Days on Market

Highlights

  • No HOA
  • 3-minute walk to San Clemente Pier
  • 2-minute walk to Parque del Mar
  • Clarence Lobo Elementary School Rated A-
  • 1-Story Property

About This Home

As of May 2019

This opportunity offers white water ocean views and it is located less than 500ft from the sand and the San Clemente Pier. The project proves to have tremendous upside as the apartments interiors are mostly original and clean. Repairs have been made on an as needed basis; including: plumbing, electrical and cosmetics. This property has been professionally managed and maintained; and the residents have proven to feel at home per the history of long-term tenancy. The electricity is individually metered, there is one gas meter and one water meter. The owner is currently paying for all utilities. This is one of four properties being sold as they are available as a portfolio or individually.

Last Agent to Sell the Property

Michael Sacks

Coldwell Banker Realty License #01945984 Listed on: 08/20/2018

Coldwell Banker Realty

Co-Listed By

Amie Raiger

Surterre Properties Inc License #01513604

Last Buyer's Agent

Louis Dillon

Coldwell Banker Realty License #01274376

Coldwell Banker Realty

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1970

Lot Details

  • 5,663 Sq Ft Lot
  • No Common Walls
  • Density is 2-5 Units/Acre
  • 69212233,69202308,69203321

Parking

  • 3 Car Garage

Interior Spaces

  • 2,789 Sq Ft Home
  • 1-Story Property

Bedrooms and Bathrooms

  • 4 Bedrooms
  • 3 Bathrooms

Listing and Financial Details

  • Tax Lot 6
  • Tax Tract Number 785
  • Assessor Parcel Number 69202204

Community Details

Overview

  • No Home Owners Association
  • 4 Units

Building Details

  • 4 Leased Units
  • 5 Separate Electric Meters
  • 1 Separate Gas Meter
  • 1 Separate Water Meter
  • Maintenance Expense $7,211
  • New Taxes Expense $23,000
  • Operating Expense $41,131
  • Gross Income $103,020
  • Net Operating Income $58,798

Property Details

Home Type

Multi-Family

Year Built

Built in 1970

Lot Details

5,663 Sq Ft Lot

Parking

3

Listing Details

  • Assessments: Yes
  • CapRate: 2.90
  • Property Attached: No
  • Property Type: Residential Income
  • Parcel Number: 69202204
  • Year Built: 1970
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Stories: 1
  • Common Walls: No Common Walls
  • Levels: Three Or More
  • Price Per Square Foot: 717.10

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 3.00
  • Total Parking Spaces: 3.00

Utilities

  • Laundry: No
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Curbs

Lot Info

  • Additional Parcels: Yes
  • Additional Parcels Description: 69212233,69202308,69203321
  • Land Lease: No
  • Lot Features: 2-5 Units/Acre
  • Lot Size Sq Ft: 5663.00
  • Lot Size Acres: 0.1300

Rental Info

  • Tenant Pays: None

Multi Family

  • Gross Income: 103020.00
  • Gross Multiplier: 19.40
  • Gross Scheduled Income: 103020.00
  • Lot Size Area: 5663.0000 Square Feet
  • Maintenance Expense: 7211.00
  • Maintenance Percent: 7.00
  • Net Operating Income: 58798.00
  • Number Of Separate Electric Meters: 5
  • Number Of Separate Gas Meters: 1
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 4
  • Number Of Units Total: 4
  • Operating Expense: 41131.00
  • Operating Expense Percent: 40.00
  • Rent Control: No
  • Total Actual Rent: 8585.00
  • Total Expenses: 41131.00
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 23000.00
  • Tax Census Tract: 421.08
  • Tax Lot: 6
  • Tax Tract Number: 785
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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
05/17/2019 05/17/19 Sold $2,000,000 0.0% $717 / Sq Ft
05/13/2019 05/13/19 Price Changed $2,000,000 0.0% $717 / Sq Ft
04/12/2019 04/12/19 Pending -- -- --
08/23/2018 08/23/18 Off Market $2,000,000 -- --
08/23/2018 08/23/18 Pending -- -- --
08/20/2018 08/20/18 For Sale $13,725,000 -- $4,921 / 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 $46,343 $4,669,315 $4,540,603 $128,712
2024 $46,343 $4,577,760 $4,451,571 $126,189
2023 $45,362 $4,488,000 $4,364,285 $123,715
2022 $21,282 $2,102,356 $1,996,860 $105,496
2021 $20,872 $2,061,134 $1,957,706 $103,428
2020 $20,664 $2,040,000 $1,937,632 $102,368
2019 $18,187 $1,795,200 $1,683,157 $112,043
2018 $17,838 $1,760,000 $1,650,153 $109,847
2017 $16,220 $1,600,000 $1,490,153 $109,847
2016 $14,419 $1,421,350 $1,311,503 $109,847
2015 $14,201 $1,400,000 $1,291,803 $108,197
2014 $11,908 $1,173,000 $1,064,803 $108,197
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW18203399

California Regional Multiple Listing Service (CRMLS)

APN: 692-022-04

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