NOT LISTED FOR SALE
6 Beds
4 Baths
2,300 Sq Ft
2,696 Sq Ft Lot Lot

Sale Details

Date Sold: August 17, 2017

Last sale price $2,000,000 $870 Per Sq Ft

23 Days on Market

Highlights

  • Ocean View
  • Open Floorplan
  • Granite Countertops
  • Newport Elementary School Rated A
  • Cathedral Ceiling
  • 2-minute walk to Channel Place Park

About This Home

As of August 2017

6 Bedroom - 4 Bathroom - 2 Car Garage - Duplex located 1-block from the beach. Upper unit has 3 bedrooms and 2 bathrooms with new furniture that is included in the price. Lower unit has 3 bedrooms and 2 bathrooms and is currently used as a tenant rental. Both units have tile flooring throughout, with a fireplace in the living room, and have recently been updated with granite counter-tops, recessed lighting, new dishwashers, microwaves and kitchen cabinets. Entire duplex exterior was just painted. Included, Washer & Dryer are located in the 2-car garage. The upper unit has a rear deck and front balcony with a peek-a-boo view of the ocean. The property has separate meters for Gas and Electricity and one water meter.

Last Agent to Sell the Property

Keith Powers

Alta Realty Group CA, Inc License #01940642 Listed on: 06/21/2017

Alta Realty Group CA, Inc

Last Buyer's Agent

Martha Alas

California Best Realty License #01088903

California Best Realty

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1970

Lot Details

  • 2,696 Sq Ft Lot
  • No Common Walls
  • Fenced
  • Fence is in good condition

Parking

  • 2 Car Garage

Property Views

  • Ocean
  • Peek-A-Boo

Home Design

  • Turnkey
  • Stucco

Interior Spaces

  • 2,300 Sq Ft Home
  • 2-Story Property
  • Open Floorplan
  • Cathedral Ceiling
  • Ceiling Fan
  • Recessed Lighting
  • Living Room with Fireplace
  • Tile Flooring

Kitchen

  • Free-Standing Range
  • Microwave
  • Dishwasher
  • Granite Countertops
  • Disposal

Bedrooms and Bathrooms

  • 6 Bedrooms
  • 4 Bathrooms

Laundry

  • Laundry Room
  • Laundry in Garage
  • Dryer
  • Washer

Additional Features

  • Balcony
  • Overhead Utilities

Listing and Financial Details

  • Tenant pays for all utilities
  • Tax Lot 12
  • Tax Tract Number 670
  • Assessor Parcel Number 42441214

Community Details

Overview

  • No Home Owners Association
  • 2 Units

Building Details

  • 1 Leased Unit
  • 2 Separate Electric Meters
  • 2 Separate Gas Meters
  • 1 Separate Water Meter
  • Cable TV Expense $1,500
  • Electric Expense $1,200
  • Insurance Expense $1,800
  • Maintenance Expense $2,400
  • Other Expense $600
  • Professional Management Expense $24,271
  • Trash Expense $200
  • Water Sewer Expense $400
  • New Taxes Expense $23,594
  • Operating Expense $56,565
  • Gross Income $139,085
  • Net Operating Income $82,519

Property Details

Home Type

Multi-Family

Year Built

Built in 1970

Lot Details

2,696 Sq Ft Lot

Parking

2

Listing Details

  • CapRate: 3.80
  • Inclusions: Washer & Dryer and All Furniture in Upper Unit for Operating the Vacation Rental are Included.
  • Professional Management Expense: 24271.00
  • Property Attached: No
  • Road Frontage Type: City Street
  • Road Surface Type: Paved
  • Subdivision Name Other: Central Newport (CNEW)
  • View: Yes
  • Water Sewer Expenses: 400.00
  • Property Condition: Turnkey
  • Property Type: Residential Income
  • Parcel Number: 42441214
  • Year Built: 1970
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: Yes
  • Interior Amenities: Balcony, Cathedral Ceiling(s), Ceiling Fan(s), Granite Counters, Open Floorplan, Recessed Lighting
  • Stories: 2
  • Common Walls: No Common Walls
  • Flooring: Tile
  • Appliances: Yes
  • Fireplace Features: Living Room
  • Levels: Two
  • Price Per Square Foot: 869.57

Exterior Features

  • View: Ocean, Peek-A-Boo
  • Fence: Yes
  • Fencing: Good Condition
  • Pool Private: No
  • Spa: No
  • Construction Materials: Stucco

Garage/Parking

  • Garage Spaces: 2.00
  • Total Parking Spaces: 2.00

Utilities

  • Utilities: Electricity Connected, Natural Gas Available
  • Laundry: Yes
  • Appliances: Dishwasher, Free-Standing Range, Disposal, Microwave, Refrigerator
  • Laundry Features: Dryer Included, In Garage, Washer Hookup, Washer Included
  • Sewer: Public Sewer
  • Trash Expense: 200.00
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Utilities - Overhead
  • Lot Size Sq Ft: 2696.00

Rental Info

  • Tenant Pays: All Utilities

Multi Family

  • Cable TV Expense: 1500.00
  • Electric Expense: 1200.00
  • Gross Income: 139085.00
  • Gross Operating Income: 139085.00
  • Gross Scheduled Income: 171210.00
  • Insurance Expense: 1800.00
  • Maintenance Expense: 2400.00
  • Net Operating Income: 82519.00
  • Number Of Separate Electric Meters: 2
  • Number Of Separate Gas Meters: 2
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 1
  • Number Of Units Total: 2
  • Number With Dishwasher: 2
  • Number With Disposal: 2
  • Number With Range: 2
  • Number With Refrigerator: 1
  • Operating Expense: 56566.00
  • Other Expense: 600.00
  • Other Expense Description: Websites
  • Rent Control: No
  • Total Actual Rent: 42000.00
  • Total Expenses: 56565.00
  • Vacancy Allowance Rate: 25.00

Tax Info

  • New Taxes Expense: 23594.00
  • Tax Census Tract: 635.00
  • Tax Lot: 12
  • Tax Tract Number: 670
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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 List to Sale Price per Sq Ft
08/17/2017 08/17/17 Sold $2,000,000 -9.1% $870 / Sq Ft
07/14/2017 07/14/17 Pending -- -- --
06/21/2017 06/21/17 For Sale $2,200,000 -- $957 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

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 $25,238 $2,275,657 $2,169,428 $106,229
2024 $25,238 $2,231,037 $2,126,890 $104,147
2023 $24,687 $2,187,292 $2,085,187 $102,105
2022 $24,299 $2,144,404 $2,044,301 $100,103
2021 $23,867 $2,102,357 $2,004,216 $98,141
2020 $23,664 $2,080,800 $1,983,665 $97,135
2019 $23,085 $2,040,000 $1,944,769 $95,231
2018 $21,535 $2,000,000 $1,906,636 $93,364
2017 $16,864 $1,553,413 $1,442,459 $110,954
2016 $16,488 $1,522,954 $1,414,175 $108,779
2015 $16,330 $1,500,078 $1,392,932 $107,146
2014 $15,943 $1,470,694 $1,365,646 $105,048
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: OC17124954

California Regional Multiple Listing Service (CRMLS)
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