NOT LISTED FOR SALE
5 Beds
5 Baths
13,648 Sq Ft
0.32 Acres

Last Sold May 03, 2017

Last sale price $3,100,000 $227 Per Sq Ft

56 Days on Market

Highlights

  • 13,939 Sq Ft lot
  • End Unit
  • No HOA

About This Home

As of May 2017

HUGE PRICE REDUCTION!!!Featuring over 60% two bedroom units and some garage parking this low maintenance community offers an ease of management and rental upside beyond the current rents. Over the last several years some upgrades including tile flooring, granite kitchen and bathroom counter tops, new asphalt in front and back, and some landscaping have been made. Tenants pay their own electricity while landlord provides gas, trash, sewer and water. There are 4 separate house gas meters.

Last Agent to Sell the Property

Mike Marcu

Mike Marcu, Broker License #00919594 Listed on: 03/01/2017

Last Buyer's Agent

NoEmail NoEmail

NONMEMBER MRML

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1965

Lot Details

  • 0.32 Acre Lot
  • End Unit
  • 1 Common Wall
  • Density is 26-30 Units/Acre

Parking

  • 6 Car Garage
  • 11 Carport Spaces

Home Design

  • Apartment

Interior Spaces

  • 13,648 Sq Ft Home
  • 2-Story Property
  • Leased Washer and Dryer

Bedrooms and Bathrooms

  • 5 Bedrooms
  • 5 Bathrooms

Outdoor Features

  • Exterior Lighting

Listing and Financial Details

  • Tenant pays for electricity
  • Tax Lot 352
  • Tax Tract Number 45
  • Assessor Parcel Number 2000352045

Community Details

Overview

  • No Home Owners Association
  • 18 Units

Building Details

  • 18 Leased Units
  • 19 Separate Electric Meters
  • 4 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $2,792
  • Insurance Expense $4,284
  • Maintenance Expense $14,140
  • Other Expense $3,936
  • Professional Management Expense $840,316
  • Trash Expense $4,964
  • Water Sewer Expense $9,482
  • New Taxes Expense $41,536
  • Operating Expense $100,814
  • Gross Income $294,572
  • Net Operating Income $167,651

Property Details

Home Type

Multi-Family

Year Built

Built in 1965

Lot Details

0

Parking

6

Listing Details

  • CapRate: 5.24
  • Professional Management Expense: 840316.00
  • Property Attached: Yes
  • Water Sewer Expenses: 9482.00
  • Property Sub Type: Apartment
  • Property Type: Residential Income
  • Parcel Number: 2000352045
  • Year Built: 1965
  • Special Features: None

Interior Features

  • Stories: 2
  • Common Walls: 1 Common Wall, End Unit
  • Levels: Two
  • Price Per Square Foot: 227.14

Exterior Features

  • Pool Private: No
  • Spa: No

Garage/Parking

  • Carport Spaces: 11.00
  • Garage Spaces: 6.00
  • Total Parking Spaces: 17.00

Utilities

  • Sewer: Public Sewer
  • Trash Expense: 4964.00
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Community Features: Curbs, Street Lights

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 26-30 Units/Acre
  • Lot Size Sq Ft: 13939.20

Rental Info

  • Tenant Pays: Electricity

Multi Family

  • Electric Expense: 2792.00
  • Gross Income: 294572.00
  • Gross Multiplier: 11.56
  • Gross Operating Income: 268465.00
  • Gross Scheduled Income: 276768.00
  • Gross Spendable Income: 70964.00
  • Insurance Expense: 4284.00
  • Laundry Equipment Own Lease: Lease
  • Laundry Income: 150.00
  • Maintenance Expense: 14140.00
  • Maintenance Percent: 5.00
  • Net Operating Income: 167651.00
  • Number Of Separate Electric Meters: 19
  • Number Of Separate Gas Meters: 4
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 18
  • Number Of Units Total: 18
  • Operating Expense: 100814.00
  • Operating Expense Percent: 35.00
  • Other Expense: 3936.00
  • Other Expense Description: Misc.
  • Other Income1: 167.00
  • Other Income2: 119.00
  • Other Income Description: laundry, late charges, etc.
  • Rent Control: No
  • Total Actual Rent: 226221.00
  • Total Expenses: 100814.00
  • Vacancy Allowance: 8303
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 41536.00
  • Tax Lot: 352
  • Tax Tract Number: 045

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
05/03/2017 05/03/17 Sold $3,100,000 -3.1% $227 / Sq Ft
04/26/2017 04/26/17 Pending -- -- --
03/28/2017 03/28/17 Price Changed $3,200,000 -8.6% $234 / Sq Ft
03/01/2017 03/01/17 For Sale $3,500,000 +34.1% $256 / Sq Ft
06/15/2015 06/15/15 Sold $2,610,000 -9.8% $191 / Sq Ft
03/23/2015 03/23/15 Pending -- -- --
02/02/2015 02/02/15 For Sale $2,895,000 +31.3% $212 / Sq Ft
01/10/2012 01/10/12 Sold $2,205,000 -3.3% $162 / Sq Ft
11/15/2011 11/15/11 Pending -- -- --
10/25/2011 10/25/11 For Sale $2,280,000 -- $167 / Sq Ft
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: OC17041625

California Regional Multiple Listing Service (CRMLS)

APN: 200-0-352-045