NOT LISTED FOR SALE
8 Beds
4 Baths
3,848 Sq Ft
6,098 Sq Ft Lot

Last Sold January 04, 2018

Last sale price $1,500,000 $390 Per Sq Ft

110 Days on Market

Highlights

  • No HOA
  • Laundry Room
  • 2-minute walk to Max Berg Park
  • Las Palmas Elementary School Rated A-
  • Back Yard

About This Home

As of January 2018

GREAT INCOME OPPORTUNITY IN A GREAT NEIGHBORHOOD! Large, Spanish-style, North-facing, quadruplex located two blocks from 204 Beach. Located in the highly sought-after Las Palmas Elementary School region, as well as San Clemente High School. Long-term tenants currently occupy all units. Two-story building with two-double shared garages on the ground level. All units are 2-bedroom, 1-bath (962 square feet) with saltillo tile, front and back entry. Each unit has their own front deck. Two-upper units have a peek-a-boo ocean view, with a shared deck in back. Large, shared backyard. Shared coin-operated laundry room, which provides additional income. Recent improvements include new fencing around backyard; new vanities and toilets in all bathrooms; new tile and tub in Unit B; and refinished upper unit entry. Spacious off-street parking.

Last Agent to Sell the Property

Jana Kalinowski

Newport Bayshore Properties License #01973867 Listed on: 07/26/2017

Last Buyer's Agent

Matthew Hoyt

Hoyt Real Estate, Inc. License #01426139

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1972

Lot Details

  • 6,098 Sq Ft Lot
  • No Common Walls
  • Back Yard
  • Density is up to 1 Unit/Acre

Parking

  • 4 Car Garage

Home Design

  • Quadruplex

Interior Spaces

  • 3,848 Sq Ft Home
  • 2-Story Property

Bedrooms and Bathrooms

  • 8 Bedrooms
  • 4 Bathrooms

Laundry

  • Laundry Room
  • Leased Washer and Dryer

Additional Features

  • Exterior Lighting
  • Suburban Location

Listing and Financial Details

  • Tenant pays for cable TV, electricity
  • Tax Lot 45
  • Tax Tract Number 793
  • Assessor Parcel Number 05805163

Community Details

Overview

  • No Home Owners Association
  • 4 Units

Amenities

  • Laundry Facilities

Building Details

  • 4 Leased Units
  • 5 Separate Electric Meters
  • 5 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $240
  • Fuel Expense $1,440
  • Gardener Expense $840
  • Insurance Expense $800
  • Other Expense $480
  • Trash Expense $600
  • Water Sewer Expense $2,160
  • New Taxes Expense $14,803
  • Operating Expense $21,363
  • Gross Income $90,300
  • Net Operating Income $68,937

Property Details

Home Type

Multi-Family

Year Built

Built in 1972

Lot Details

0

Parking

4

Listing Details

  • CapRate: 4.00
  • Property Attached: No
  • Water Sewer Expenses: 2160.00
  • Property Sub Type: Quadruplex
  • Property Type: Residential Income
  • Gardener Expense: 840.00
  • Parcel Number: 05805163
  • Year Built: 1972
  • Special Features: None

Interior Features

  • Stories: 2
  • Entry Location: Main Level, Upper Level
  • Common Walls: No Common Walls
  • Levels: Two
  • Price Per Square Foot: 389.81

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 4.00
  • Total Parking Spaces: 4.00

Utilities

  • Utilities: Sewer Available
  • Laundry: Yes
  • Laundry Features: Common Area, Individual Room
  • Sewer: Public Sewer
  • Trash Expense: 600.00
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Curbs, Sidewalks, Street Lights, Suburban

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 0-1 Unit/Acre, Back Yard
  • Lot Size Sq Ft: 6098.00

Rental Info

  • Tenant Pays: Cable TV, Electricity

Multi Family

  • Electric Expense: 240.00
  • Fuel Expense: 1440.00
  • Gross Income: 90300.00
  • Gross Multiplier: 17.00
  • Gross Scheduled Income: 90300.00
  • Insurance Expense: 800.00
  • Laundry Equipment Own Lease: Lease
  • Laundry Income: 2700.00
  • Net Operating Income: 68937.00
  • Number Of Separate Electric Meters: 5
  • Number Of Separate Gas Meters: 5
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 4
  • Number Of Units Total: 4
  • Number With Dishwasher: 4
  • Number With Disposal: 4
  • Number With Patio: 4
  • Number With Range: 4
  • Operating Expense: 6560.00
  • Other Expense: 480.00
  • Other Expense Description: Laundry
  • Rent Control: No
  • Total Expenses: 21363.00

Tax Info

  • New Taxes Expense: 14803.00
  • Tax Lot: 45
  • Tax Tract Number: 793

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 List to Sale Price per Sq Ft
01/04/2018 01/04/18 Sold $1,500,000 -5.7% $390 / Sq Ft
11/13/2017 11/13/17 Pending -- -- --
10/11/2017 10/11/17 Price Changed $1,590,000 -2.2% $413 / Sq Ft
07/27/2017 07/27/17 For Sale $1,625,000 +8.3% $422 / Sq Ft
07/26/2017 07/26/17 Off Market $1,500,000 -- --
07/26/2017 07/26/17 For Sale $1,625,000 -- $422 / 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: NP17171447

California Regional Multiple Listing Service (CRMLS)

APN: 058-051-63