NOT LISTED FOR SALE

15515 Randall Ave Fontana, CA 92335

9 Beds
5 Baths
7,871 Sq Ft
0.73 Acres

Last Sold November 21, 2017

Last sale price $1,355,250 $172 Per Sq Ft

48 Days on Market

Highlights

  • 31,800 Sq Ft lot
  • No HOA
  • Laundry Room
  • Corner Lot
  • Cooling System Mounted To A Wall/Window
  • Bungalow

About This Home

As of November 2017

12 units in 7 separate buildings on a corner lot of almost one acre, offered at a cap rate of over 7% proforma, 9 GRM.
The apartment complex consists of 3 Houses, 2 Duplexes, 1 fourplex and one Casita. 1(3+2) SFR, 1(3+1) SFR, 2 (2+1) SFR, 3 (2+1) and 5 (1+1). Each unit has its own address. Plenty of parking, no rent control. very good upside as rents are still below market, 100% occupancy with many long term tenants, Property located on the South East Corner of Randall and Elm. Across from the elementary school. Two newer (2006) residential community developments on two of the other corners of Randall & Elm.
Currently, 2 of the tenants have their own utility meters and the other 10 share three common gas and electric meters. Sellers are in the process of submetering with four new meter panels connected to four subpanels. Sellers will credit buyers to complete the project. Sellers have notified the tenants that either the submeters will come first or Ratio Utility Billing Systems (RUBS) will be implemented.

Last Agent to Sell the Property

Shawn Luong

eXp Realty of Greater Los Angeles License #00857818 Listed on: 06/16/2017

eXp Realty of Greater Los Angeles

Last Buyer's Agent

Alex Figueroa

Keller Williams Realty License #01173239

Keller Williams Realty

Property Details

Home Type

  • Apartment

Year Built

  • Built in 1940

Lot Details

  • 0.73 Acre Lot
  • No Common Walls
  • Wood Fence
  • Fence is in average condition
  • Corner Lot
  • Density is 2-5 Units/Acre

Home Design

  • Bungalow
  • Combination Foundation
  • Slab Foundation
  • Frame Construction
  • Shingle Roof
  • Wood Siding
  • Aluminum Siding
  • Shingle Siding
  • Shake Siding
  • Stucco

Interior Spaces

  • 7,871 Sq Ft Home
  • 2-Story Property

Bedrooms and Bathrooms

  • 9 Bedrooms
  • 5 Bathrooms

Laundry

  • Laundry Room
  • Gas And Electric Dryer Hookup

Parking

  • 20 Parking Spaces
  • Parking Available
  • Gravel Driveway
  • Shared Driveway
  • Uncovered Parking
  • Unassigned Parking

Utilities

  • Cooling System Mounted To A Wall/Window
  • Wall Furnace
  • Natural Gas Connected
  • Conventional Septic
  • Sewer Not Available
  • Phone Available
  • Cable TV Available

Additional Features

  • Exterior Lighting
  • Suburban Location

Listing and Financial Details

  • Legal Lot and Block 795 / L
  • Tax Tract Number 233
  • Assessor Parcel Number 0233211170000

Community Details

Overview

  • No Home Owners Association
  • 7 Buildings
  • 12 Units

Building Details

  • 12 Leased Units
  • 5 Separate Electric Meters
  • 3 Separate Gas Meters
  • 2 Separate Water Meters
  • Insurance Expense $2,850
  • Maintenance Expense $6,582
  • Other Expense $2,860
  • Trash Expense $3,150
  • Water Sewer Expense $6,900
  • New Taxes Expense $16,219
  • Operating Expense $38,561
  • Gross Income $135,024
  • Net Operating Income $96,463

Property Details

Home Type

Apartment

Year Built

Built in 1940

Lot Details

0

Listing Details

  • CapRate: 6.43
  • Property Attached: No
  • Water Sewer Expenses: 6900.00
  • Zoning: RS
  • Architectural Style: Bungalow
  • Property Sub Type: Apartment
  • Property Type: Residential Income
  • Parcel Number: 0233211170000
  • Year Built: 1940
  • Special Features: None

Interior Features

  • Stories: 2
  • Common Walls: No Common Walls
  • Levels: Two
  • Price Per Square Foot: 172.18

Exterior Features

  • Foundation: Combination, Slab
  • Fence: Yes
  • Fencing: Average Condition, Wood
  • Pool Private: No
  • Roof: Shingle
  • Construction Materials: Aluminum Siding, Frame, Shake Siding, Shingle Siding, Stucco, Wood Siding

Garage/Parking

  • Parking: Yes
  • Parking Features: Unassigned, Uncovered, Driveway, Shared Driveway, Gravel
  • Total Parking Spaces: 20.00

Utilities

  • Utilities: Cable Available, Natural Gas Connected, Phone Available, Sewer Not Available, Water Connected
  • Heating: Yes
  • Laundry: Yes
  • Heating Type: Wall Furnace
  • Laundry Features: Gas & Electric Dryer Hookup
  • Sewer: Conventional Septic
  • Trash Expense: 3150.00
  • Water Source: Public
  • Cooling: Wall/Window Unit(s)
  • Cooling: Yes

Condo/Co-op/Association

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

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 2-5 Units/Acre, Corner Lot, Lot 20000-39999 Sqft
  • Lot Size Sq Ft: 31800.00

Multi Family

  • Average1 Bed Area: 475 Square Feet
  • Average2 Bed Area: 687 Square Feet
  • Average3 Bed Area: 1399 Square Feet
  • Gross Multiplier: 10.78
  • Gross Operating Income: 135024.00
  • Gross Scheduled Income: 139200.00
  • Insurance Expense: 2850.00
  • Maintenance Expense: 6582.00
  • Maintenance Percent: 4.87
  • Net Operating Income: 96463.00
  • Number Of Separate Electric Meters: 5
  • Number Of Separate Gas Meters: 3
  • Number Of Separate Water Meters: 2
  • Number Of Units Leased: 12
  • Number Of Units Total: 12
  • Operating Expense: 44561.00
  • Operating Expense Percent: 33.00
  • Other Expense: 2860.00
  • Other Expense Description: Gas
  • Rent Control: No
  • Total Actual Rent: 11600.00
  • Total Expenses: 38561.00
  • Vacancy Allowance: 4176
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 16219.00
  • Tax Block: L
  • Tax Census Tract: 25.02
  • Tax Lot: 795
  • Tax Tract Number: 233

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 Change Sq Ft Price
11/21/2017 11/21/17 Sold $1,355,250 -9.7% $172 / Sq Ft
08/03/2017 08/03/17 Pending -- -- --
06/29/2017 06/29/17 Price Changed $1,500,000 0.0% $191 / Sq Ft
06/29/2017 06/29/17 For Sale $1,500,000 +10.7% $191 / Sq Ft
06/27/2017 06/27/17 Off Market $1,355,250 -- --
06/16/2017 06/16/17 For Sale $1,250,000 -- $159 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Shawn Luong

    Seller's Agent in 2017

    Shawn Luong

    eXp Realty of Greater Los Angeles

    (626) 643-7090

    1 in this area

    45 Total Sales

    Shawn Luong
    Section Image

  • A

    Buyer's Agent in 2017

    Alex Figueroa

    Keller Williams Realty

    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: CV17127907

California Regional Multiple Listing Service (CRMLS)
California San Bernardino County Fontana 92335

15515 Randall Ave, Fontana, CA

This home is located at 15515 Randall Ave, Fontana, CA 92335 since 16 June 2017. This property was built in 1940. 15515 Randall Ave is a home located in San Bernardino County with nearby schools including West Randall Elementary School, Sequoia Middle School, and Fontana High School.

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California Regional Multiple Listing Service (CRMLS) The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.

Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information

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