NOT LISTED FOR SALE
3 Beds
2 Baths
12,000 Sq Ft
0.46 Acre Lot

Sale Details

Date Sold: January 23, 2012

Last sale price $2,325,000 $194 Per Sq Ft

60 Days on Market

Highlights

  • 0.46 Acre Lot
  • Los Alamitos Elementary School Rated A
  • No Heating

About This Home

As of January 2012

The Lexington Arms, built in 1962 is comprised of spacious one & two bedroom units, (10) two bedroom/one bath, and (4) one bedroom/one bath units and a community laundry room. Each of the units have individual water heaters, dishwashers, abundant storage and the bedrooms have large walk-in closets. Rents at the Lexington Arms average approximately $170 per month below rents of similar apartments in the area.

Last Agent to Sell the Property

Grant Hahn

Morgan Skenderian License #01197893 Listed on: 09/12/2011

Last Buyer's Agent

Grant Hahn

Morgan Skenderian License #01197893 Listed on: 09/12/2011

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Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1962

Lot Details

  • 0.46

Home Design

  • 12,000 Sq Ft Home
  • Frame Construction
  • Stucco

Bedrooms and Bathrooms

  • 3 Bedrooms
  • 2 Bathrooms

Parking

  • 18 Parking Spaces
  • 14 Carport Spaces

Additional Features

  • 20,020 Sq Ft Lot
  • No Heating

Listing and Financial Details

  • Assessor Parcel Number 22213118

Community Details

Overview

  • 14 Units

Building Details

  • 15 Separate Electric Meters
  • 15 Separate Gas Meters
  • 1 Separate Water Meter
  • Gardener Expense $1,500
  • Insurance Expense $3,333
  • Other Expense $1,500
  • Professional Management Expense $5,400
  • Trash Expense $3,400
  • Water Sewer Expense $3,401
  • New Taxes Expense $28,974
  • Gross Income $15,725
  • Net Operating Income $120,332

Property Details

Home Type

Multi-Family

Year Built

Built in 1962

Lot Details

0.46 Acres

Listing Details

  • Assessments: No
  • CapRate: 5.12
  • Professional Management Expense: 5400.00
  • View: No
  • Water Sewer Expenses: 3401.00
  • Property Type: Residential Income
  • Gardener Expense: 1500.00
  • Parcel Number: 22213118
  • Year Built: 1962
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: No
  • Appliances: Yes
  • Price Per Square Foot: 193.75

Exterior Features

  • Pool Private: No
  • Spa: No
  • Construction Materials: Frame, Stucco

Garage/Parking

  • Carport Spaces: 14.00
  • Parking: No
  • Total Parking Spaces: 18.00

Utilities

  • Heating: No
  • Laundry: No
  • Trash Expense: 3400.00

Condo/Co-op/Association

  • Senior Community: No

Lot Info

  • Lot Size Sq Ft: 20020.00
  • Lot Size Acres: 0.4600

Multi Family

  • Gross Income: 15725.00
  • Gross Multiplier: 12.36
  • Gross Scheduled Income: 190200.00
  • Gross Spendable Income: 55413.00
  • Insurance Expense: 3333.00
  • Lot Size Area: 20020.0000 Square Feet
  • Net Operating Income: 120332.00
  • Number Of Separate Electric Meters: 15
  • Number Of Separate Gas Meters: 15
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 14
  • Operating Expense: 60358.00
  • Operating Expense Percent: 32.00
  • Other Expense: 1500.00
  • Other Expense Description: Admin
  • Vacancy Allowance Rate: 5.00

Tax Info

  • New Taxes Expense: 28974.00

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

Closed on
Mar 25, 2024
Sold by
Bought by

Purchase Details

Closed on
Dec 1, 2023
Sold by
Bought by

Purchase Details

Listed on
Sep 12, 2011
Closed on
Nov 30, 2011
Sold by
Bought by
Seller's Agent
Grant Hahn
Morgan Skenderian
Buyer's Agent
Grant Hahn
Morgan Skenderian
List Price
$2,350,000
Sold Price
$2,325,000
Premium/Discount to List
-$25,000
-1.06%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,511,000
Interest Rate
3.93%
Mortgage Type
Commercial

Purchase Details

Closed on
Jun 17, 2009
Sold by
Bought by
Source: Public Records

Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

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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
-- None Listed On Document
-- None Listed On Document
$2,325,000 First American Title Ins Co
-- 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 $2,600,000
Previous Owner $2,225,000
Previous Owner $1,511,000
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
01/23/2012 01/23/12 Sold $2,325,000 -1.1% $194 / Sq Ft
11/11/2011 11/11/11 Pending -- -- --
09/12/2011 09/12/11 For Sale $2,350,000 -- $196 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

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 $40,123 $3,016,557 $2,526,276 $490,281
2025 $40,123 $2,957,409 $2,476,741 $480,668
2024 $39,469 $2,899,421 $2,428,177 $471,244
2023 $38,487 $2,842,570 $2,380,566 $462,004
2022 $38,177 $2,786,834 $2,333,888 $452,946
2021 $37,319 $2,732,191 $2,288,126 $444,065
2020 $37,299 $2,704,176 $2,264,664 $439,512
2019 $36,010 $2,651,153 $2,220,258 $430,895
2018 $34,224 $2,599,170 $2,176,723 $422,447
2017 $33,471 $2,548,206 $2,134,042 $414,164
2016 $32,793 $2,498,242 $2,092,198 $406,044
2015 $32,355 $2,460,717 $2,060,772 $399,945
2014 $31,237 $2,412,515 $2,020,404 $392,111
Source: Public Records

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: P796184

California Regional Multiple Listing Service (CRMLS)
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