NOT LISTED FOR SALE

1521 W 218th St Torrance, CA 90501

Harbor Gateway Neighborhood

Estimated Value: $1,208,772 - $1,343,000

9 Beds
5 Baths
3,804 Sq Ft
$340/Sq Ft Est. Value

Last Sold October 04, 2019

Last sale price $910,000 $239 Per Sq Ft

Est. 42% increase in value since last sale

Current estimated payment $7,868/month

1 Day on Market

About This Home

As of October 2019

This Well maintained and updated property is situated on a quiet tree lined street, consisting of a 3 bedroom 2 bath front unit and three 2 bedroom 1 bathroom units. Each unit has its own 1 car garage. All units are tenant occupied. Please note the oversized lot.

Last Agent to Sell the Property

Mark Fortune

Estate Properties License #01031021 Listed on: 09/02/2019

Estate Properties

Last Buyer's Agent

Mark Fortune

Estate Properties License #01031021 Listed on: 09/02/2019

Estate Properties

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $12,852

Year Built

  • Built in 1972

Lot Details

  • 10,801 Sq Ft Lot
  • Two or More Common Walls
  • Density is 2-5 Units/Acre

Parking

  • 5 Car Garage
  • Parking Available
  • Single Garage Door

Home Design

  • 3,804 Sq Ft Home
  • Property Attached

Bedrooms and Bathrooms

  • 9 Bedrooms
  • 5 Bathrooms

Laundry

  • Laundry Room

Listing and Financial Details

  • Tenant pays for gas, trash collection
  • Legal Lot and Block 33 / 2
  • Tax Tract Number 3404
  • Assessor Parcel Number 7346002030

Community Details

Overview

  • No Home Owners Association
  • 2 Buildings
  • 4 Units

Amenities

  • Laundry Facilities

Building Details

  • 4 Leased Units
  • Rent Control
  • 1 Separate Electric Meter
  • 5 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $1,737
  • Fuel Expense $100
  • Gardener Expense $1,095
  • Insurance Expense $3,070
  • Other Expense $271
  • Water Sewer Expense $1,400
  • New Taxes Expense $9,625
  • Operating Expense $23,995
  • Gross Income $64,464
  • Net Operating Income $50,094

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$12,852

Year Built

Built in 1972

Lot Details

0

Parking

5

Listing Details

  • Assessments: Yes
  • Property Attached: Yes
  • View: No
  • Water Sewer Expenses: 1400.00
  • Zoning: LAR2
  • Property Type: Residential Income
  • Gardener Expense: 1095.00
  • Parcel Number: 7346002030
  • Year Built: 1972
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: 2+ Common Walls
  • Levels: Two
  • Price Per Square Foot: 239.22

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 5.00
  • Parking: Yes
  • Parking Features: Garage - Single Door
  • Total Parking Spaces: 5.00

Utilities

  • Utilities: Electricity Connected, Natural Gas Connected, Phone Connected, Sewer Connected, Water Connected
  • Laundry: Yes
  • Electric: Electricity - On Property
  • Laundry Features: Common Area
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Amenities: Electricity, Gas, Utilities, Sewer, Water
  • Senior Community: No
  • Community Features: Curbs, Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 2-5 Units/Acre
  • Lot Size Sq Ft: 10801.00
  • Lot Size Acres: 0.2480

Rental Info

  • Tenant Pays: Gas, Trash Collection

Multi Family

  • Electric Expense: 1737.00
  • Fuel Expense: 100.00
  • Gross Income: 64464.00
  • Gross Scheduled Income: 64464.00
  • Insurance Expense: 3070.00
  • Lot Size Area: 10801.0000 Square Feet
  • Net Operating Income: 50094.00
  • Number Of Separate Electric Meters: 1
  • Number Of Separate Gas Meters: 5
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 4
  • Number Of Units Total: 4
  • Operating Expense: 14370.00
  • Other Expense: 271.00
  • Rent Control: Yes
  • Total Actual Rent: 64464.00
  • Total Expenses: 23995.00

Tax Info

  • New Taxes Expense: 9625.00
  • Tax Block: 2
  • Tax Census Tract: 2932.01
  • Tax Lot: 33
  • Tax Tract Number: 3404

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Apr 17, 2020
Sold by
Avestimehr Amir Salman and Rabieirad Laleh
Bought by
Avestimehr Amir Salman and Rabieirad Laleh
Current Estimated Value
$1,292,193

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$677,758
Outstanding Balance
$601,540
Interest Rate
3.5%
Mortgage Type
New Conventional
Estimated Equity
$690,653

Purchase Details

Listed on
Sep 2, 2019
Closed on
Sep 17, 2019
Sold by
Morrow Rhonda L and Morrow Rhonda L
Bought by
Avestimehr Amir Salman and Rabieirad Laleh
Seller's Agent
Mark Fortune
Estate Properties
Buyer's Agent
Mark Fortune
Estate Properties
List Price
$875,000
Sold Price
$910,000
Premium/Discount to List
$35,000
4%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
5.95%
Original Mortgage
$682,500
Interest Rate
3.5%

Purchase Details

Closed on
Aug 28, 2013
Sold by
Young Joyce I and Young Family Trust
Bought by
Young Joyce I and Joyce I Young Survivors Trust

Purchase Details

Closed on
Apr 26, 2013
Sold by
Young Henry B and Young Joyce
Bought by
Young Henry B and Young Joyce I

Purchase Details

Closed on
Dec 1, 1998
Sold by
Martin Andre H and Martin Hilda T
Bought by
Young Henry B and Young Joyce

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$210,000
Interest Rate
6.78%

Purchase Details

Closed on
Nov 30, 1998
Sold by
Fermin Fermin G G
Bought by
Morrow Rhonda L

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$210,000
Interest Rate
6.78%

Purchase Details

Closed on
Sep 13, 1993
Sold by
Martin Andre H and Martin Hilda T
Bought by
Martin Andre H and Martin Hilda T

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$79,000
Interest Rate
7.25%
Source: Public Records

Range of Values:

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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
Avestimehr Amir Salman -- Title Connect Inc
Avestimehr Amir Salman -- Title Connect Inc
Avestimehr Amir Salman $910,000 Progressive Title
Young Joyce I -- None Available
Young Henry B -- None Available
Young Henry B $300,000 Provident Title
Morrow Rhonda L -- Provident Title
Martin Andre H -- Provident Title
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Avestimehr Amir Salman $677,758
Closed Avestimehr Amir Salman $682,500
Previous Owner Young Henry B $210,000
Previous Owner Martin Andre H $79,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
10/04/2019 10/04/19 Sold $910,000 0.0% $239 / Sq Ft
09/05/2019 09/05/19 Off Market $910,000 -- --
09/02/2019 09/02/19 For Sale $875,000 -- $230 / 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 $12,852 $995,214 $656,186 $339,028
2024 $12,852 $975,701 $643,320 $332,381
2023 $12,610 $956,570 $630,706 $325,864
2022 $12,050 $937,815 $618,340 $319,475
2021 $11,886 $919,427 $606,216 $313,211
2019 $6,017 $421,993 $167,230 $254,763
2018 $5,856 $413,727 $163,951 $249,776
2016 $5,567 $397,280 $157,586 $239,694
2015 $5,485 $391,313 $155,219 $236,094
2014 $5,517 $383,649 $152,179 $231,470
Source: Public Records

Agents Affiliated with this Home

  • M

    Seller's Agent in 2019

    Mark Fortune

    RE/MAX

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: SB19210010

California Regional Multiple Listing Service (CRMLS)

APN: 7346-002-030

California Los Angeles County Torrance 90501 Harbor Gateway

1521 W 218th St, Torrance, CA

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