NOT LISTED FOR SALE
4 Beds
2 Baths
8,310 Sq Ft
0.37 Acre Lot

Sale Details

Date Sold: March 19, 2015

Last sale price $2,250,000 $271 Per Sq Ft

24 Days on Market

Highlights

  • 0.37 Acre Lot
  • Property is near park
  • Landscaped
  • Enders Elementary School Rated A
  • Corner Lot
  • 3-minute walk to Eastgate Park

About This Home

As of March 2015

We are pleased to present this unique opportunity to acquire two side-by-side fourplexes (with separate parcels) in the highly desirable submarket of West Garden Grove near the Los Alamitos and Cypress borders. Built in 1964, this pride of ownership property features all 2 Bedroom / 1 ½ Bath Townhome style units with private patios. There are 8 single car garages (2 of the units have direct access single car garages) and 4 open spaces in the back of the property, coupled with ample street parking to the westside of the complex. The property has brand new exterior paint, new landscaping and brand new garage doors. This is an all electric building. Listing also includes 12022 Bailey Street.

RESIDENTIAL 30 YEAR FIXED RATE FINANCING AVAILABLE.

This corner lot property is located just south of Chapman Avenue and west of Valley View Street. Tenants benefit from close proximity to retail amenities including East gate Park, Public Library, Von' s, Rite-Aid, Ace Hardware, Restaurants, Movie Theaters, Bowling Alley, Fitness Center, Post Office & Bus Stop.

Last Agent to Sell the Property

Paul Espinosa

Morgan Skenderian License #01942627 Listed on: 01/07/2015

Co-Listed By

Rick Applebaum

Morgan Skenderian License #01273871

Last Buyer's Agent

MLS Department

Out Of Area License #88888888

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Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1964

Lot Details

  • 15,950 Sq Ft Lot
  • 1 Common Wall
  • Landscaped
  • Corner Lot
  • Density is 6-10 Units/Acre

Parking

  • 8 Car Garage

Home Design

  • 8,310 Sq Ft Home
  • Property Attached

Bedrooms and Bathrooms

  • 4 Bedrooms
  • 2 Bathrooms

Location

  • Property is near park

Listing and Financial Details

  • Tax Lot 21
  • Tax Tract Number 3624
  • Assessor Parcel Number 22420201

Community Details

Overview

  • 2 Buildings
  • 8 Units

Building Details

  • 8 Leased Units
  • 9 Separate Electric Meters
  • 1 Separate Water Meter
  • Gardener Expense $1,320
  • Insurance Expense $2,493
  • Maintenance Expense $7,128
  • Other Expense $500
  • Trash Expense $4,416
  • Water Sewer Expense $4,417
  • New Taxes Expense $27,248
  • Gross Income $11,826
  • Net Operating Income $90,133

Property Details

Home Type

Multi-Family

Year Built

Built in 1964

Lot Details

0.37 Acres

Parking

8

Listing Details

  • CapRate: 4.10
  • Property Attached: Yes
  • Water Sewer Expenses: 4417.00
  • Property Type: Residential Income
  • Gardener Expense: 1320.00
  • Parcel Number: 22420201
  • Year Built: 1964
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: 1 Common Wall
  • Levels: Two
  • Price Per Square Foot: 270.76

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 8.00
  • Total Parking Spaces: 12.00

Utilities

  • Utilities: Sewer Available
  • Trash Expense: 4416.00
  • Water Source: Public

Condo/Co-op/Association

  • Community Features: Curbs, Sidewalks

Lot Info

  • Lot Features: 6-10 Units/Acre, Landscaped, Lot 10000-19999 Sqft, Park Nearby, Corner Lot
  • Lot Size Sq Ft: 15950.00
  • Lot Size Acres: 0.3660

Multi Family

  • Gross Income: 11826.00
  • Gross Multiplier: 15.50
  • Gross Scheduled Income: 141912.00
  • Insurance Expense: 2493.00
  • Lot Size Area: 15950.0000 Square Feet
  • Maintenance Expense: 7128.00
  • Net Operating Income: 90133.00
  • Number Of Separate Electric Meters: 9
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 8
  • Number Of Units Total: 8
  • Operating Expense: 47522.00
  • Operating Expense Percent: 33.50
  • Other Expense: 500.00
  • Other Expense Description: Admin
  • Rent Control: No
  • Total Actual Rent: 11615.00
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 27248.00
  • Tax Lot: 21
  • Tax Tract Number: 3624

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
Jan 3, 2017
Sold by
Bought by

Purchase Details

Closed on
Jul 19, 2010
Sold by
Bought by

Purchase Details

Closed on
May 18, 2009
Sold by
Bought by

Purchase Details

Closed on
Mar 2, 2000
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$232,000
Interest Rate
8.26%
Mortgage Type
Purchase Money Mortgage
Source: Public Records

Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Agents Specializing in West Garden Grove, 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
-- None Available
-- None Available
-- None Available
-- None Available
-- None Available
-- None Available
-- Old Republic Title Company
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
Previous Owner $740,000
Previous Owner $337,000
Previous Owner $318,500
Previous Owner $232,000
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
03/19/2015 03/19/15 Sold $2,250,000 +2.3% $271 / Sq Ft
01/31/2015 01/31/15 Pending -- -- --
01/07/2015 01/07/15 For Sale $2,200,000 -- $265 / 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 $17,117 $1,379,118 $1,204,498 $174,620
2025 $16,786 $1,352,077 $1,180,880 $171,197
2024 $16,786 $1,325,566 $1,157,725 $167,841
2023 $16,477 $1,299,575 $1,135,025 $164,550
2022 $16,127 $1,274,094 $1,112,770 $161,324
2021 $15,958 $1,249,112 $1,090,951 $158,161
2020 $15,746 $1,236,304 $1,079,764 $156,540
2019 $15,445 $1,212,063 $1,058,592 $153,471
2018 $15,137 $1,188,298 $1,037,836 $150,462
2017 $14,930 $1,164,999 $1,017,487 $147,512
2016 $14,191 $1,142,156 $997,536 $144,620
2015 $11,405 $900,000 $738,840 $161,160
2014 $10,188 $800,000 $638,840 $161,160
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW15003727

California Regional Multiple Listing Service (CRMLS)

APN: 224-202-01

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