NOT LISTED FOR SALE

Estimated Value: $756,000 - $6,265,000

8 Beds
8 Baths
31,426 Sq Ft
$84/Sq Ft Est. Value

Sale Details

Date Sold: December 17, 2021

Last sale price $4,850,000 $154 Per Sq Ft

Est. 46% decrease in value since last sale

Current estimated payment $16,645 / mo

166 Days on Market

Highlights

  • 1.01 Acre Lot
  • 1-Story Property
  • 3-minute walk to Margie L Rice Park
  • Westminster High School Rated A

About This Home

As of December 2021

$1,000,000 PRICE REDUCTION. A rare opportunity to acquire a medium sized, “permit ready” entitled multi-residential development opportunity. The proposed 24 unit apartment complex will have a unit mix of (7) 2 bedroom/2 bath units, (7) 2 bedroom/2.5 bath units, (6) 3 bedroom/2.5 bath units, and (4) 3 bedroom/3.5 bath units. All units will be townhouse style with attached garages and direct access from the garage into the units. The property is located within minutes of the 405 and 22 Freeways and is within walking distance to both Finely Elementary and Johnson Middle Schools. The development has been approved by the city council of Westminster and includes four affordable units under the California Density Bonus program.

The existing property is comprised of 3 adjacent parcels totaling 44,643 sq.ft. Currently, there is one 3 bedroom home, a 2 bedroom home, a 1 bedroom unit and a studio unit. Monthly income is $7,060 and all tenants are month to month.

Last Agent to Sell the Property

Grant Hahn

Morgan Skenderian License #01197893 Listed on: 05/05/2021

Last Buyer's Agent

Grant Hahn

Morgan Skenderian License #01197893 Listed on: 05/05/2021

Range of Values:

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Value Increase
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Percent Increase
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Adjusted for Inflation
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Average Value
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List Price
Sold Price
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Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 2021

Lot Details

  • 1.01 Acre Lot
  • 1 Common Wall
  • Density is 21-25 Units/Acre

Parking

  • 45 Car Garage

Home Design

  • Property Attached

Interior Spaces

  • 31,426 Sq Ft Home
  • 1-Story Property

Bedrooms and Bathrooms

  • 8 Bedrooms
  • 8 Bathrooms

Listing and Financial Details

  • Tax Lot 13
  • Tax Tract Number 203
  • Assessor Parcel Number 20331113

Community Details

Overview

  • 3 Buildings
  • 24 Units

Building Details

  • 24 Separate Electric Meters
  • 24 Separate Gas Meters
  • 24 Separate Water Meters
  • Operating Expense $237,319
  • Gross Income $808,500
  • Net Operating Income $546,926

Property Details

Home Type

Multi-Family

Year Built

Built in 2021

Lot Details

1.01 Acres

Parking

45

Listing Details

  • Property Attached: Yes
  • Property Type: Residential Income
  • Parcel Number: 20331113
  • Year Built: 2021
  • Special Features: NewHome
  • Property Sub Type: MultiFamily

Interior Features

  • Stories: 1
  • Common Walls: 1 Common Wall
  • Levels: One
  • Price Per Square Foot: 154.33

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 45.00
  • Total Parking Spaces: 45.00

Utilities

  • Laundry: No
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Curbs

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 21-25 Units/Acre, Lot Over 40000 Sqft
  • Lot Size Sq Ft: 43995.60
  • Lot Size Acres: 1.0100

Multi Family

  • Gross Income: 808500.00
  • Gross Scheduled Income: 808500.00
  • Lot Size Area: 1.0100 Acres
  • Net Operating Income: 546926.00
  • Number Of Separate Electric Meters: 24
  • Number Of Separate Gas Meters: 24
  • Number Of Separate Water Meters: 24
  • Number Of Units Total: 24
  • Operating Expense: 237319.00
  • Rent Control: No
  • Total Expenses: 237319.00
  • Vacancy Allowance Rate: 3.00

Tax Info

  • Tax Census Tract: 999.02
  • Tax Lot: 13
  • Tax Tract Number: 203...

Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

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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
12/17/2021 12/17/21 Sold $4,850,000 0.0% $154 / Sq Ft
10/18/2021 10/18/21 Pending -- -- --
06/07/2021 06/07/21 Price Changed $4,850,000 -17.1% $154 / Sq Ft
05/05/2021 05/05/21 For Sale $5,850,000 -- $186 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW21095883

California Regional Multiple Listing Service (CRMLS)

APN: 203-311-13

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