NOT LISTED FOR SALE

116 Loma Ln San Clemente, CA 92672

Central San Clemente Neighborhood
2 Beds
2 Baths
6,491 Sq Ft
10,323 Sq Ft Lot

Last Sold May 28, 2020

Last sale price $3,185,000 $491 Per Sq Ft

141 Days on Market

Highlights

  • Laundry Room
  • Las Palmas Elementary School Rated A-
  • Landscaped

About This Home

As of May 2020

Loma Lane Apartments, a 9-unit apartment building located in the coastal City of San Clemente, CA. Built in 1963; the property offers a simple unit mix of (8) two-bedroom one-bathroom units and (1) non-conforming studio unit. The property has an on-site laundry facility, eight garage parking spots and five open parking spots. The building is individually metered for gas and electricity. Copper plumbing was installed in 2014-2015 and the roof was replaced in 2011. Loma Lane Apartments offers an investor the opportunity to purchase a well-located income producing asset with a 5.5% cap rate on market rents.

Last Agent to Sell the Property

Chris Keramati

Triqor Group License #01702116 Listed on: 12/12/2019

Last Buyer's Agent

Daniel Blackwell

CB Richard Ellis, Inc. License #01854961

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1963

Lot Details

  • 10,323 Sq Ft Lot
  • Two or More Common Walls
  • Landscaped

Parking

  • 5 Open Parking Spaces
  • 8 Car Garage

Home Design

  • 6,491 Sq Ft Home
  • Property Attached

Bedrooms and Bathrooms

  • 2 Bedrooms
  • 2 Bathrooms

Additional Features

  • Laundry Room
  • Suburban Location

Listing and Financial Details

  • Assessor Parcel Number 05806241

Community Details

Building Details

  • 9 Separate Electric Meters
  • 9 Separate Gas Meters
  • 1 Separate Water Meter
  • Insurance Expense $2,272
  • New Taxes Expense $33,664
  • Operating Expense $58,184
  • Gross Income $182,700
  • Net Operating Income $119,035

Additional Features

  • 9 Units
  • Laundry Facilities

Property Details

Home Type

Multi-Family

Year Built

Built in 1963

Lot Details

0

Parking

8

Listing Details

  • CapRate: 3.60
  • Property Attached: Yes
  • Property Type: Residential Income
  • Parcel Number: 05806241
  • Year Built: 1963
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: 2+ Common Walls
  • Price Per Square Foot: 490.68

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 8.00
  • Total Parking Spaces: 13.00
  • Uncovered Spaces: 5.00

Utilities

  • Laundry: Yes
  • Laundry Features: Community
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Suburban

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Landscaped
  • Lot Size Sq Ft: 10323.00
  • Lot Size Acres: 0.2370

Multi Family

  • Gross Income: 182700.00
  • Gross Multiplier: 18.20
  • Gross Operating Income: 177219.00
  • Gross Scheduled Income: 182700.00
  • Insurance Expense: 2272.00
  • Lot Size Area: 10323.0000 Square Feet
  • Net Operating Income: 119035.00
  • Number Of Separate Electric Meters: 9
  • Number Of Separate Gas Meters: 9
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 9
  • Operating Expense: 58184.00
  • Operating Expense Percent: 31.80
  • Rent Control: No
  • Total Actual Rent: 14875.00
  • Total Expenses: 58184.00
  • Vacancy Allowance: 5481
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 33664.00

Range of Values:

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Sold Price
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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 Change Sq Ft Price
05/28/2020 05/28/20 Sold $3,185,000 -4.2% $491 / Sq Ft
05/01/2020 05/01/20 Pending -- -- --
12/12/2019 12/12/19 For Sale $3,325,000 -- $512 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Chris Keramati

    Seller's Agent in 2020

    Chris Keramati

    Triqor Group

    (949) 756-3232

    21 Total Sales

    Chris Keramati
    Section Image
  • Daniel Blackwell

    Buyer's Agent in 2020

    Daniel Blackwell

    CB Richard Ellis, Inc.

    (949) 423-6111

    49 Total Sales

    Daniel Blackwell
    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW19280114

California Regional Multiple Listing Service (CRMLS)
California Orange County San Clemente 92672 Central San Clemente

116 Loma Ln, San Clemente, CA

This home is located at 116 Loma Ln, San Clemente, CA 92672 since 12 December 2019. This property was built in 1963. 116 Loma Ln is a home located in Orange County with nearby schools including Las Palmas Elementary School, Bernice Ayer Middle School, and San Clemente High School.

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California Regional Multiple Listing Service (CRMLS) The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.

Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information

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