NOT LISTED FOR SALE

Estimated Value: $1,411,000 - $2,286,009

1 Bed
1 Bath
2,287 Sq Ft
$792/Sq Ft Est. Value

Last Sold July 31, 2018

Last sale price $1,500,000 $656 Per Sq Ft

Est. 25% increase in value since last sale

Current estimated payment $11,351/month

2 Days on Market

Highlights

  • Wood Flooring
  • End Unit
  • No HOA
  • Pasadena High School Rated A
  • Private Yard
  • Cooling Available

About This Home

As of July 2018

1388 E Orange Grove is completely turnkey with new electrical, plumbing, roof, double pane windows, split AC/heat, paint, tankless water heaters and landscaping. Each unit has been completely renovated with granite counter tops in the kitchen, stainless steel appliances, wood tile flooring, and laundry in each unit.

Consisting of 4 one bed/one bath units, this is perfect for any buyer who is looking for a stable rental market and high rents.

Last Agent to Sell the Property

Hunter Forsyth

COMPASS License #01939557 Listed on: 06/18/2018

COMPASS

Last Buyer's Agent

Tony Wang

Berkshire Hathaway HomeServices California Properties License #01478596

Berkshire Hathaway HomeServices California Properties

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1948

Lot Details

  • 8,070 Sq Ft Lot
  • End Unit
  • 1 Common Wall
  • Private Yard
  • Density is 11-15 Units/Acre

Home Design

  • 2,287 Sq Ft Home
  • Property Attached

Flooring

  • Wood
  • Tile

Bedrooms and Bathrooms

  • 1 Bedroom
  • 1 Bathroom

Laundry

  • Laundry Room
  • Dryer
  • Washer

Parking

  • 2 Open Parking Spaces
  • 5 Parking Spaces
  • 3 Carport Spaces

Location

  • Suburban Location

Utilities

  • Cooling Available
  • Heating Available
  • Sewer Paid

Listing and Financial Details

  • Tax Lot 22
  • Tax Tract Number 4623
  • Assessor Parcel Number 5739019013

Community Details

Overview

  • No Home Owners Association
  • 4 Units

Building Details

  • 4 Leased Units
  • 5 Separate Electric Meters
  • 4 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $400
  • Gardener Expense $1,200
  • Insurance Expense $1,029
  • New Taxes Expense $17,537
  • Operating Expense $29,405
  • Gross Income $83,808
  • Net Operating Income $54,403

Property Details

Home Type

Multi-Family

Year Built

Built in 1948

Lot Details

0

Listing Details

  • CapRate: 3.63
  • Property Attached: Yes
  • Property Type: Residential Income
  • Gardener Expense: 1200.00
  • Parcel Number: 5739019013
  • Year Built: 1948
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: 1 Common Wall, End Unit
  • Flooring: Tile, Wood
  • Price Per Square Foot: 655.88

Exterior Features

  • Pool Private: No

Garage/Parking

  • Carport Spaces: 3.00
  • Total Parking Spaces: 5.00
  • Uncovered Spaces: 2.00

Utilities

  • Heating: Yes
  • Laundry: Yes
  • Laundry Features: Dryer Included, Washer Included
  • Sewer: Sewer Paid
  • Water Source: Public
  • Cooling: Yes

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Suburban

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 11-15 Units/Acre, Yard
  • Lot Size Sq Ft: 8070.00
  • Lot Size Acres: 0.1853

Multi Family

  • Average1 Bed Area: 572 Square Feet
  • Electric Expense: 400.00
  • Gross Income: 83808.00
  • Gross Multiplier: 17.36
  • Gross Scheduled Income: 86400.00
  • Insurance Expense: 1029.00
  • Lot Size Area: 8070.0000 Square Feet
  • Net Operating Income: 54403.00
  • Number Of Separate Electric Meters: 5
  • Number Of Separate Gas Meters: 4
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 4
  • Number Of Units Total: 4
  • Operating Expense: 29405.00
  • Rent Control: No
  • Total Expenses: 29405.00
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 17537.00
  • Tax Lot: 22
  • Tax Tract Number: 4623.0

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jun 18, 2018
Closed on
Jul 18, 2018
Sold by
Cabe Llc
Bought by
Kang Won and Kang Hyuk
Seller's Agent
Hunter Forsyth
COMPASS
Buyer's Agent
Tony Wang
Berkshire Hathaway HomeServices California Properties
List Price
$1,500,000
Sold Price
$1,500,000
Current Estimated Value
$1,869,078

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$369,078
Avg. Annual Appreciation
2.56%
Original Mortgage
$750,000
Outstanding Balance
$651,424
Interest Rate
4.6%
Mortgage Type
New Conventional
Estimated Equity
$1,160,328

Purchase Details

Listed on
Jun 18, 2018
Closed on
Jun 27, 2018
Sold by
Kang Sun Yo
Bought by
Kang Won
Seller's Agent
Hunter Forsyth
COMPASS
Buyer's Agent
Tony Wang
Berkshire Hathaway HomeServices California Properties
List Price
$1,500,000
Sold Price
$1,500,000

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$750,000
Outstanding Balance
$651,424
Interest Rate
4.6%
Mortgage Type
New Conventional
Estimated Equity
$1,160,328

Purchase Details

Listed on
May 10, 2017
Closed on
Aug 15, 2017
Sold by
Ronquillo Raul T
Bought by
Cabe Llc
Seller's Agent
Filip Niculete
Marcus & Millichap
Buyer's Agent
Filip Niculete
Marcus & Millichap
List Price
$1,000,000
Sold Price
$1,100,000
Premium/Discount to List
$100,000
10%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
39.58%
Original Mortgage
$660,000
Interest Rate
4.03%
Mortgage Type
Stand Alone First

Purchase Details

Closed on
Mar 17, 2005
Sold by
Ronquillo Raul T
Bought by
Ronquillo Raul T and Ronquillo Lucia M

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$525,000
Interest Rate
5.53%
Mortgage Type
New Conventional

Purchase Details

Closed on
Jun 2, 2004
Sold by
Ronquillo Raul T
Bought by
Ronquillo Raul T and Ronquillo Lucia M

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$413,000
Interest Rate
5.99%
Mortgage Type
New Conventional

Purchase Details

Closed on
Feb 13, 2004
Sold by
Ronquillo Raul T
Bought by
Ronquillo Raul T and Ronquillo Lucia M

Purchase Details

Closed on
Feb 10, 2000
Sold by
Minassian Jacques
Bought by
Ronquillo Raul T and Ronquillo Lucia M

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$231,200
Interest Rate
4.35%

Purchase Details

Closed on
May 12, 1995
Sold by
Hilgren Warren
Bought by
Minassian Jacques

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$180,800
Interest Rate
7.88%

Purchase Details

Closed on
Jan 13, 1995
Sold by
Hastings John W
Bought by
Hastings John W and Hastings Mary F
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Kang Won $1,500,000 Equity Title Company
Kang Won -- Equity Title Company
Cabe Llc $1,100,000 Ticor Title
Ronquillo Raul T -- --
Ronquillo Raul T -- Equity Title
Ronquillo Raul T -- --
Ronquillo Raul T -- Equity Title Company
Ronquillo Raul T -- --
Ronquillo Raul T $289,000 Equity Title Company
Minassian Jacques $225,000 Chicago Title Co
Hastings John W -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Kang Won $750,000
Previous Owner Cabe Llc $660,000
Previous Owner Ronquillo Raul T $525,000
Previous Owner Ronquillo Raul T $413,000
Previous Owner Ronquillo Raul T $231,200
Previous Owner Minassian Jacques $180,800
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
07/31/2018 07/31/18 Sold $1,500,000 0.0% $656 / Sq Ft
06/20/2018 06/20/18 Pending -- -- --
06/18/2018 06/18/18 For Sale $1,500,000 +36.4% $656 / Sq Ft
08/24/2017 08/24/17 Sold $1,100,000 +10.0% $481 / Sq Ft View Prior Sale
05/10/2017 05/10/17 For Sale $1,000,000 -- $437 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

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 $18,933 $1,673,274 $1,338,620 $334,654
2024 $18,933 $1,640,466 $1,312,373 $328,093
2023 $18,775 $1,608,301 $1,286,641 $321,660
2022 $18,126 $1,576,766 $1,261,413 $315,353
2021 $17,391 $1,545,850 $1,236,680 $309,170
2019 $16,739 $1,500,860 $1,200,000 $300,860
2018 $12,982 $1,100,860 $880,000 $220,860
2016 $4,942 $375,212 $245,381 $129,831
2015 $4,885 $369,577 $241,696 $127,881
2014 $4,814 $362,338 $236,962 $125,376
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PF18148225

California Regional Multiple Listing Service (CRMLS)

APN: 5739-019-013