NOT LISTED FOR SALE

Estimated Value: $1,229,000 - $1,272,000

9 Beds
6 Baths
4,116 Sq Ft
$303/Sq Ft Est. Value

Last Sold May 11, 2012

Last sale price $469,000 $114 Per Sq Ft

Est. 166% increase in value since last sale

Current estimated payment $7,456/month

Highlights

  • 0.14 Acre Lot
  • Wood Siding
  • Heating System Uses Natural Gas
  • Bungalow
  • Carpet
  • 4-minute walk to Drake Park

About This Home

As of May 2012

Own a very trendy craftsman style property loaded with character. This Large resident style two story building in the front offers a 4bd 2ba upstairs unit that rented for $1,500 and a 3bd 2 ba downstairs unit rented for $1,800. Located in a seperate building in the back we have two 1bd 1 ba units last rented for $800 each. The property needs some work/paint (As is reflected in the price). Please drive by to inspect property before making your offer. Offers are subject to interior inspection and lender approval. We are skilled short sale specialists with a full team of negotiators to make this close quickly and easily. Only one lender-Wells Fargo.

Last Agent to Sell the Property

Jack Tanner

Beach Cities Properties, Inc. License #01383525 Listed on: 11/01/2011

Last Buyer's Agent

William Larson

First Team Real Estate License #01373184

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $8,105

Year Built

  • Built in 1915

Lot Details

  • 6,221 Sq Ft Lot

Home Design

  • Bungalow
  • Shingle Roof
  • Composition Roof
  • Wood Siding

Interior Spaces

  • 4,116 Sq Ft Home
  • Carpet

Bedrooms and Bathrooms

  • 9 Bedrooms
  • 6 Bathrooms

Utilities

  • Heating System Uses Natural Gas
  • Wall Furnace
  • Sewer Paid

Listing and Financial Details

  • Tenant pays for cable TV, electricity, gas
  • Tax Block F
  • Tax Tract Number 1
  • Assessor Parcel Number 7271019005

Community Details

Overview

  • 2 Buildings
  • 4 Units

Building Details

  • 4 Separate Electric Meters
  • 4 Separate Gas Meters
  • 1 Separate Water Meter
  • New Taxes Expense $5,625
  • Gross Income $58,800
  • Net Operating Income $44,688

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$8,105

Year Built

Built in 1915

Lot Details

0

Listing Details

  • Assessments: No
  • CapRate: 9.93
  • Price Per Unit: 112500
  • View: No
  • Architectural Style: Bungalow
  • Property Type: Residential Income
  • Parcel Number: 7271019005
  • Year Built: 1915
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: No
  • Flooring: Carpet
  • Appliances: Yes
  • Levels: Two
  • Price Per Square Foot: 113.95

Exterior Features

  • Pool Private: No
  • Roof: Composition, Shingle
  • Spa: No
  • Construction Materials: Wood Siding

Garage/Parking

  • Parking: No

Utilities

  • Utilities: Sewer Available
  • Heating: No
  • Laundry: No
  • Heating Type: Natural Gas, Wall Furnace
  • Sewer: Sewer Paid
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No

Lot Info

  • Lot Size Sq Ft: 6221.00
  • Lot Size Acres: 0.1430

Rental Info

  • Tenant Pays: Cable TV, Electricity, Gas

Multi Family

  • Gross Income: 58800.00
  • Gross Multiplier: 7.65
  • Gross Scheduled Income: 58800.00
  • Lot Size Area: 6221.0000 Square Feet
  • Net Operating Income: 44688.00
  • Number Of Separate Electric Meters: 4
  • Number Of Separate Gas Meters: 4
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 4
  • Number With Carpet: 4
  • Operating Expense: 11760.00
  • Vacancy Allowance: 2352
  • Vacancy Allowance Rate: 4.00

Tax Info

  • New Taxes Expense: 5625.00
  • Tax Area: 11934
  • Tax Block: F
  • Tax Lot: 0.
  • Tax Tract Number: 1

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Sep 20, 2012
Sold by
Lai Jeffrey and Lai Connie Jeng Yi
Bought by
Octagon Capital Llc
Current Estimated Value
$1,246,940

Purchase Details

Closed on
Feb 14, 2012
Sold by
Krynski Jeffrey and Valencia Debra
Bought by
Lai Jeff and Lai Connie

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$351,750
Interest Rate
3.94%
Mortgage Type
New Conventional

Purchase Details

Closed on
Sep 13, 2005
Sold by
Totton William D
Bought by
Krynski Jeffrey and Valencia Debra

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$595,000
Interest Rate
5.76%
Mortgage Type
Fannie Mae Freddie Mac

Purchase Details

Closed on
Jan 23, 2004
Sold by
Hampton John
Bought by
Totton William D

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$500,000
Interest Rate
5.12%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Feb 20, 2003
Sold by
Garrean Darren K
Bought by
Hampton John

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$378,000
Interest Rate
4.37%

Purchase Details

Closed on
Nov 26, 2001
Sold by
Dlj Mtg Capital Inc
Bought by
Garrean Darren K

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$225,600
Interest Rate
8.87%

Purchase Details

Closed on
Sep 25, 2001
Sold by
Paredes Tammy
Bought by
Dlj Mtg Cpital Inc

Purchase Details

Closed on
May 9, 2000
Sold by
Youngstown Development Group Inc
Bought by
Paredes Tammy

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$270,000
Interest Rate
10.37%

Purchase Details

Closed on
Sep 13, 1999
Sold by
Lone Star Investments Inc
Bought by
Youngtown Development Group Inc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$140,000
Interest Rate
8.09%
Mortgage Type
Seller Take Back

Purchase Details

Closed on
Oct 7, 1997
Sold by
Razo Francisco H
Bought by
Lone Star Investments Inc

Purchase Details

Closed on
Apr 13, 1995
Sold by
Schwartz Robert M and Schwartz Deborah F
Bought by
Razo Francisco H

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$47,400
Interest Rate
7.74%
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
Octagon Capital Llc -- None Available
Lai Jeff $469,000 Fatcola
Krynski Jeffrey $850,000 Old Republic Title Company
Totton William D $625,000 Equity Title
Hampton John $420,000 Chicago Title Co
Garrean Darren K $282,000 Fidelity National Title
Dlj Mtg Cpital Inc $252,351 Fidelity National Title
Paredes Tammy $300,000 Benefit Land Title
Youngtown Development Group Inc $170,000 Fidelity National Title Co
Lone Star Investments Inc $155,000 North American Title Co
Razo Francisco H $111,000 North American Title Co
Razo Francisco H -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Lai Jeff $351,750
Previous Owner Krynski Jeffrey $595,000
Previous Owner Totton William D $100,000
Previous Owner Totton William D $500,000
Previous Owner Hampton John $378,000
Previous Owner Garrean Darren K $225,600
Previous Owner Paredes Tammy $270,000
Previous Owner Youngtown Development Group Inc $140,000
Previous Owner Razo Francisco H $47,400
Closed Garrean Darren K $56,400
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
05/11/2012 05/11/12 Sold $469,000 +4.2% $114 / Sq Ft
11/01/2011 11/01/11 Pending -- -- --
11/01/2011 11/01/11 For Sale $450,000 -- $109 / 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 $8,105 $589,076 $414,491 $174,585
2024 $8,105 $577,526 $406,364 $171,162
2023 $7,967 $566,203 $398,397 $167,806
2022 $7,496 $555,102 $390,586 $164,516
2021 $7,324 $544,219 $382,928 $161,291
2019 $7,220 $528,079 $371,571 $156,508
2018 $6,973 $517,726 $364,286 $153,440
2016 $6,400 $497,625 $350,142 $147,483
2015 $6,154 $490,151 $344,883 $145,268
2014 $6,128 $480,551 $338,128 $142,423
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: P801813

California Regional Multiple Listing Service (CRMLS)

APN: 7271-019-005