NOT LISTED FOR SALE

1500 Arc Way Burlingame, CA 94010

Burlingame Terrace Neighborhood

Estimated Value: $2,005,000 - $2,702,000

3 Beds
3 Baths
3,050 Sq Ft
$796/Sq Ft Est. Value

Last Sold October 23, 2012

Last sale price $1,043,000 $342 Per Sq Ft

Est. 133% increase in value since last sale

Current estimated payment $13,990/month

13 Days on Market

Highlights

  • Wood Flooring
  • Neighborhood Views
  • Forced Air Heating System
  • McKinley Elementary School Rated A
  • Balcony

About This Home

As of October 2012

Fantastic remodel blocks to Bgame Ave or Broadway. New landscaping, paint, heating, driveway, elect, plumbing. Owners unit completely remodeled, and ready for an occupant. Income offsets mortgage expense, and allows one to live in the brand new owner's unit for less than $1000/month. Rent the owner's unit (+-$2500/mo), and enjoy approx $6k/mo gross. Offers due by noon Monday Sept 10.

Last Agent to Sell the Property

Kevin Phillips

SC Properties License #01470917 Listed on: 08/29/2012

Last Buyer's Agent

Tiffany Manaoat

Compass License #01371308

Compass

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $14,693

Year Built

  • 1920

Lot Details

  • 7,797

Parking

  • Off-Street Parking

Home Design

  • Triplex
  • Composition Roof

Interior Spaces

  • 3,050 Sq Ft Home
  • 2-Story Property
  • Neighborhood Views
  • Oven or Range

Flooring

  • Wood
  • Carpet
  • Tile

Utilities

  • Forced Air Heating System
  • Sewer Within 50 Feet

Additional Features

  • Balcony
  • Sprinkler System

Listing and Financial Details

  • Total Actual Rent $41,700
  • The owner pays for electric, garbage, services - gardener/landscaping, gas

Community Details

Overview

  • 3,050 Sq Ft Building

Building Details

  • Gardener Expense $1,800
  • Insurance Expense $900
  • Utility Expense $12,000
  • Operating Expense $19,641
  • Gross Income $41,940

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$14,693

Year Built

1920

Lot Details

0

Listing Details

  • Zoning: R300
  • Subclass: Triplex
  • Inspections Reports: Fault Zone, Pest Control, Flood Zone
  • Sale Price Per Sq Ft: 341.97
  • Listing Class: Residential Income (2-4 Units)
  • Max Numberof Unitsin Complex: 3
  • Min Numberof Unitsin Complex: 3
  • Structure Sq Ft: 3050
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Year Built: 1920

Interior Features

  • Kitchen: Oven Range, Refrigerator
  • Living Sq Ft: 3050
  • Stories: 2
  • Laundry: Washer/Dryer - Owned, Washer/Dryer - Owned Coin-Op
  • Flooring: Tile, Hardwood, Carpet, Varies By Unit

Exterior Features

  • Roof: Composition
  • View: Local/Neighborhood
  • Yard/Grounds: Sprinklers - Lawn, Balcony / Patio

Garage/Parking

  • Garage Parking Features: Off-Street Parking

Utilities

  • Heating System: Central Forced Air
  • Sewer/Septic System: Sewer In Street, Sewer Connected

Lot Info

  • Lot Location: Corner
  • Lot Size Area Minimum Units: Square Feet
  • Minimum Lot Size: 7013.00
  • Lot Size Area Maximum Units: Square Feet
  • Lot Size Area Max Search: 7013.00
  • Lot Size Area Min Search: 7013.00
  • Maximum Lot Size: 7013.00

Rental Info

  • Existing Lease Term(s): Month To Month
  • Gross Rent Multiplier: 23.13
  • Min Rent Other Size Units: 475

Multi Family

  • Expense Insurance: 900
  • Expense Landscape: 1800
  • Expenses Total: 19641
  • Expenses Utility: 12000
  • Income Annual Gross: 41940.00
  • Income Annual Rental: 41700
  • Income Gross Scheduled: 41940
  • Income Includes: Laundry, Lease
  • Income Laundry: 240
  • Maximum Building Height: 2
  • Meters: Master Electric, Master Gas, Master Water
  • Minimum Building Height: 2
  • Number Of Buildings: 1
  • Number Of Other Units: 1
  • Operating Expenses Include: Utilities - Electric, Services - Trash Removal, Services - Gardener, Utilities - Gas, Insurance, Maintenance - Repair
  • Owner Pays: Electric, Garbage, Services - Gardener/Landscaping, Gas
  • Tenant Expenses: Utilities - Gas, Utilities - Electric

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Mar 6, 2018
Sold by
Chin Chris and Chin Melissa
Bought by
Chin Chris and Chin Melissa
Current Estimated Value
$2,426,928

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$250,000
Outstanding Balance
$199,969
Interest Rate
4.22%
Mortgage Type
Credit Line Revolving
Estimated Equity
$2,226,959

Purchase Details

Closed on
Apr 29, 2014
Sold by
Chung Melissa and Chin Chris
Bought by
Chin Family Trust and Chin Melissa

Purchase Details

Listed on
Aug 29, 2012
Closed on
Oct 16, 2012
Sold by
Phillips Kevin and Delue Robert S
Bought by
Chung Melissa and Chin Chris
Seller's Agent
Kevin Phillips
SC Properties
Buyer's Agent
Tiffany Manaoat
Compass
List Price
$969,900
Sold Price
$1,043,000
Premium/Discount to List
$73,100
7.54%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
6.70%
Original Mortgage
$521,500
Outstanding Balance
$361,292
Interest Rate
3.52%
Mortgage Type
Commercial
Estimated Equity
$2,065,636

Purchase Details

Closed on
Nov 14, 2011
Sold by
Sullivan Barbara Alice
Bought by
Phillips Kevin and Delue Robert S

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$500,000
Interest Rate
3.87%
Mortgage Type
Commercial

Purchase Details

Closed on
May 26, 2005
Sold by
Sullivan Barbara Alice
Bought by
Sullivan Barbara Alice

Purchase Details

Closed on
Oct 30, 1995
Sold by
Hunt Todd and Hunt Traci Ann Sullivan
Bought by
Sullivan Barbara Alice
Source: Public Records

Range of Values:

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Average Value
Not Available
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
Chin Chris -- First American Title Co
Chin Family Trust -- None Available
Chung Melissa $1,043,000 North American Title Co Inc
Phillips Kevin $725,000 First American Title Company
Sullivan Barbara Alice -- --
Sullivan Barbara Alice -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Chin Chris $250,000
Open Chung Melissa $521,500
Previous Owner Phillips Kevin $500,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
10/23/2012 10/23/12 Sold $1,043,000 +7.5% $342 / Sq Ft
09/11/2012 09/11/12 Pending -- -- --
08/29/2012 08/29/12 For Sale $969,900 -- $318 / Sq Ft
Source: MLSListings

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 $14,693 $1,284,362 $642,181 $642,181
2023 $14,693 $1,234,492 $617,246 $617,246
2022 $14,173 $1,210,288 $605,144 $605,144
2021 $14,188 $1,186,558 $593,279 $593,279
2020 $13,893 $1,174,392 $587,196 $587,196
2019 $13,591 $1,151,366 $575,683 $575,683
2018 $13,334 $1,128,792 $564,396 $564,396
2017 $13,425 $1,106,660 $553,330 $553,330
2016 $12,752 $1,084,962 $542,481 $542,481
2015 $12,693 $1,068,666 $534,333 $534,333
2014 $12,510 $1,047,734 $523,867 $523,867
Source: Public Records

Agents Affiliated with this Home

  • Kevin Phillips

    Seller's Agent in 2012

    Kevin Phillips

    SC Properties

    (650) 380-2868

    22 Total Sales

    Kevin Phillips
    Section Image

  • T

    Buyer's Agent in 2012

    Tiffany Manaoat

    Compass

    Section Image
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Map

Source: MLSListings

MLS Number: ML81232438

MLSListings

APN: 028-132-090

California San Mateo County Burlingame 94010 Burlingame Terrace

1500 Arc Way, Burlingame, CA

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