NOT LISTED FOR SALE

1437 12th St Manhattan Beach, CA 90266

Estimated Value: $2,830,000 - $4,251,000

12 Beds
8 Baths
4,500 Sq Ft
$795/Sq Ft Est. Value

Last Sold December 12, 2014

Last sale price $2,325,000 $517 Per Sq Ft

Est. 54% increase in value since last sale

Current estimated payment $21,075/month

28 Days on Market

About This Home

As of December 2014

This Manhattan Beach four unit apartment building is located walking distance from popular Pollywog Park. The complex consists of two separate buildings, made up of (4) large three bedroom, two bathroom units. There are four enclosed garages, four tandem parking spaces, on-site laundry, and the units are separately metered for gas and electric

Last Agent to Sell the Property

Woody Stahl

Lyon Stahl Investment Real Est License #01399621 Listed on: 10/01/2014

Lyon Stahl Investment Real Est

Co-Listed By

Brett Lyon

Lyon Stahl Investment Real Estate, Inc. License #01717818

Last Buyer's Agent

NoEmail NoEmail

Outside Area Listings License #N/A

Outside Area Listings

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1966

Lot Details

  • 7,504 Sq Ft Lot
  • Two or More Common Walls
  • Lawn

Parking

  • 4 Car Garage

Home Design

  • 4,500 Sq Ft Home
  • Property Attached

Bedrooms and Bathrooms

  • 12 Bedrooms
  • 8 Bathrooms

Utilities

  • Septic Type Unknown

Listing and Financial Details

  • Tax Lot 22
  • Tax Tract Number 141
  • Assessor Parcel Number 4166008013

Community Details

Overview

  • 2 Buildings
  • 4 Units

Building Details

  • 4 Separate Electric Meters
  • 4 Separate Gas Meters
  • 1 Separate Water Meter
  • Gardener Expense $600
  • Insurance Expense $1,750
  • Trash Expense $1,200
  • Water Sewer Expense $2,650
  • New Taxes Expense $28,438
  • Operating Expense $36,238
  • Gross Income $10,280
  • Net Operating Income $83,422

Property Details

Home Type

Multi-Family

Year Built

Built in 1966

Lot Details

0

Parking

4

Listing Details

  • CapRate: 3.67
  • Property Attached: Yes
  • Water Sewer Expenses: 2650.00
  • Property Type: Residential Income
  • Gardener Expense: 600.00
  • Parcel Number: 4166008013
  • Year Built: 1966
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: 2+ Common Walls
  • Price Per Square Foot: 516.67

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 4.00
  • Total Parking Spaces: 4.00

Utilities

  • Sewer: Unknown
  • Trash Expense: 1200.00
  • Water Source: Public

Condo/Co-op/Association

  • Community Features: Curbs

Lot Info

  • Additional Parcels: No
  • Lot Features: Lawn
  • Lot Size Sq Ft: 7504.00
  • Lot Size Acres: 0.1720

Multi Family

  • Gross Income: 10280.00
  • Gross Multiplier: 18.44
  • Gross Scheduled Income: 123360.00
  • Insurance Expense: 1750.00
  • Lot Size Area: 7504.0000 Square Feet
  • Net Operating Income: 83422.00
  • Number Of Separate Electric Meters: 4
  • Number Of Separate Gas Meters: 4
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 4
  • Operating Expense: 36238.00
  • Operating Expense Percent: 29.00
  • Rent Control: No
  • Total Expenses: 36238.00
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 28438.00
  • Tax Lot: 22
  • Tax Tract Number: 141
  • Tax Year: 2013

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Oct 1, 2014
Closed on
Oct 24, 2014
Sold by
Arnao Joseph J
Bought by
1437 12Th St Llc
Seller's Agent
Woody Stahl
Lyon Stahl Investment Real Est
Buyer's Agent
NoEmail NoEmail
Outside Area Listings
List Price
$2,275,000
Sold Price
$2,325,000
Premium/Discount to List
$50,000
2.2%
Current Estimated Value
$3,576,983

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$1,251,983
Avg. Annual Appreciation
3.95%
Original Mortgage
$1,451,125
Interest Rate
3.25%
Mortgage Type
Adjustable Rate Mortgage/ARM

Purchase Details

Closed on
Oct 31, 2007
Sold by
Talbot Kevin E
Bought by
Arnao Joseph J and Arnao Mina K

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,295,000
Interest Rate
6.35%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Nov 11, 2003
Sold by
Talbot Kevin
Bought by
Talbot Kevin E and Talbot Maria Fernanda

Purchase Details

Closed on
Nov 8, 2002
Sold by
Rodin Fred
Bought by
Talbot Kevin and Talbot Fernanda

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$843,750
Interest Rate
6%

Purchase Details

Closed on
Mar 8, 2001
Sold by
Rute Agnes
Bought by
Rodin Fred and Rodin Susan

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$650,000
Interest Rate
6.89%

Purchase Details

Closed on
Oct 15, 1997
Sold by
Rute Agnes
Bought by
Rute Agnes and Rute Ralph H

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$348,000
Interest Rate
7.49%
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
1437 12Th St Llc $2,232,500 Progressive Title Company
Arnao Joseph J $1,850,000 Lawyers Title Company
Talbot Kevin E -- --
Talbot Kevin -- --
Talbot Kevin $1,139,000 North American Title Co
Rodin Fred $813,000 Lawyers Title Company
Rute Agnes -- First American Title Ins Co
Rute Ralph Harold -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner 1437 12Th St Llc $1,451,125
Previous Owner Arnao Joseph J $1,295,000
Previous Owner Talbot Kevin $843,750
Previous Owner Rodin Fred $650,000
Previous Owner Rute Ralph Harold $348,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
12/12/2014 12/12/14 Sold $2,325,000 +2.2% $517 / Sq Ft
10/29/2014 10/29/14 Pending -- -- --
10/01/2014 10/01/14 For Sale $2,275,000 -- $506 / 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 $30,672 $2,682,520 $1,600,859 $1,081,661
2024 $30,672 $2,629,922 $1,569,470 $1,060,452
2023 $29,762 $2,578,356 $1,538,697 $1,039,659
2022 $29,254 $2,527,801 $1,508,527 $1,019,274
2021 $28,826 $2,478,238 $1,478,949 $999,289
2019 $28,061 $2,404,734 $1,435,084 $969,650
2018 $27,436 $2,357,584 $1,406,946 $950,638
2016 $25,556 $2,266,038 $1,352,313 $913,725
2015 $25,031 $2,232,000 $1,332,000 $900,000
2014 $22,448 $1,982,282 $1,607,258 $375,024
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: SB14211289

California Regional Multiple Listing Service (CRMLS)

APN: 4166-008-013