$2,038,500
SOLD APR 21, 2017
8 Beds
8 Baths
3,568 Sq Ft
6,534 Sq Ft Lot

Recently Sold

$571 Per Sq Ft

3% Below List Price

329 Days on Market

Highlights

  • Ocean View
  • No HOA
  • Laundry Room
  • Concordia Elementary School Rated A
  • Cul-De-Sac
  • Forced Air Heating System

About This Home

As of April 2017

FABULOUS OCEAN VIEW FOUR UNIT BUILDING IN AN OUTSTANDING LOCATION. NICELY UPGRADED AND EXTREMELY WELL MAINTAINED. PANORAMIC VIEWS FROM ALL UNITS. LOCATED AT THE END OF THE CUL DE SAC. ALL FOUR UNITS ARE TWO BEDROOM, 1.5 BATHS. ALL UNITS REMODELED WITH UPGRADED FLOORING, COUNTER TOPS AND PAINT. ONE TWO CAR GARAGE PLUS 3 CARPORTS.
AS OF APRIL 1, 2017, RENTS WILL BE AS FOLLOWS:
A. $2060
B. $2675
C. $2550
D. $2550
---------
$9835 per Mo. $118,020 Annual TENANTS PAY THEIR OWN UTILITIES EXCEPT WATER AND TRASH.

Last Agent to Sell the Property

Gary Ceasar

First Team Real Estate License #00576152 Listed on: 04/04/2016

First Team Real Estate

Last Buyer's Agent

Jody Saunders

Casa Blanca Realty License #01440482

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1965

Lot Details

  • 6,534 Sq Ft Lot
  • No Common Walls
  • Cul-De-Sac

Parking

  • 2 Open Parking Spaces
  • 2 Car Garage
  • 3 Carport Spaces

Property Views

  • Ocean
  • Coastline
  • Catalina
  • Panoramic
  • City Lights

Home Design

  • 3,568 Sq Ft Home

Bedrooms and Bathrooms

  • 8 Bedrooms
  • 8 Bathrooms

Utilities

  • Forced Air Heating System
  • Sewer Paid

Additional Features

  • Laundry Room
  • Exterior Lighting

Listing and Financial Details

  • Tenant pays for cable TV, electricity, gas
  • Tax Lot 12
  • Tax Tract Number 5136
  • Assessor Parcel Number 69003113

Community Details

Overview

  • No Home Owners Association
  • 4 Units

Building Details

  • 3 Leased Units
  • 5 Separate Electric Meters
  • 5 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $480
  • Gardener Expense $600
  • Insurance Expense $1,900
  • Trash Expense $300
  • Water Sewer Expense $1,560
  • New Taxes Expense $21,000
  • Operating Expense $26,080
  • Gross Income $9,065
  • Net Operating Income $82,700

Property Details

Home Type

Multi-Family

Year Built

Built in 1965

Lot Details

0

Parking

2

Listing Details

  • Assessments: Yes
  • CapRate: 4.00
  • Property Attached: No
  • View: Yes
  • Water Sewer Expenses: 1560.00
  • Property Type: Residential Income
  • Gardener Expense: 600.00
  • Parcel Number: 69003113
  • Year Built: 1965
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: No Common Walls
  • Levels: Two
  • Price Per Square Foot: 571.33

Exterior Features

  • View: Catalina, City Lights, Coastline, Ocean, Panoramic
  • Pool Private: No
  • Spa: No

Garage/Parking

  • Carport Spaces: 3.00
  • Garage Spaces: 2.00
  • Total Parking Spaces: 7.00
  • Uncovered Spaces: 2.00

Utilities

  • Utilities: Sewer Available, Sewer Connected
  • Heating: Yes
  • Laundry: Yes
  • Heating Type: Forced Air
  • Laundry Features: Individual Room
  • Sewer: Sewer Paid
  • Trash Expense: 300.00
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Sidewalks, Storm Drains, Street Lights

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Cul-De-Sac
  • Lot Size Sq Ft: 6534.00
  • Price Per Lot Square Foot: 313.67

Rental Info

  • Tenant Pays: Cable TV, Electricity, Gas

Multi Family

  • Electric Expense: 480.00
  • Gross Income: 9065.00
  • Gross Multiplier: 19.30
  • Gross Scheduled Income: 108780.00
  • Insurance Expense: 1900.00
  • Net Operating Income: 82700.00
  • Number Of Separate Electric Meters: 5
  • Number Of Separate Gas Meters: 5
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 3
  • Number Of Units Total: 4
  • Number Wall A C: 1
  • Operating Expense: 26080.00
  • Rent Control: No
  • Total Actual Rent: 9065.00
  • Total Expenses: 26080.00

Tax Info

  • New Taxes Expense: 21000.00
  • Tax Lot: 12
  • Tax Tract Number: 5136

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Range of Values:

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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
02/22/2020 02/22/20 Rented $2,600 -3.7% --
02/15/2020 02/15/20 For Rent $2,700 0.0% --
04/21/2017 04/21/17 Sold $2,038,500 -0.5% $571 / Sq Ft
02/04/2017 02/04/17 Price Changed $2,048,500 0.0% $574 / Sq Ft
08/31/2016 08/31/16 Price Changed $2,049,500 -2.4% $574 / Sq Ft
04/04/2016 04/04/16 For Sale $2,099,900 0.0% $589 / Sq Ft
03/02/2016 03/02/16 Rented $2,260 0.0% --
02/05/2016 02/05/16 Price Changed $2,260 -11.7% $3 / Sq Ft
01/22/2016 01/22/16 For Rent $2,560 -- --
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: OC16070119

California Regional Multiple Listing Service (CRMLS)