NOT LISTED FOR SALE
9 Beds
6 Baths
4,424 Sq Ft
8,973 Sq Ft Lot

Last Sold April 01, 2013

Last sale price $760,000 $172 Per Sq Ft

3 Days on Market

Highlights

  • Forced Air Heating System
  • Wood Siding
  • Carpet
  • John O. Tynes Elementary School Rated A-

About This Home

As of April 2013

Original Covington 4-plex comprised of 4 nicely appointed units: 1 (3+2), 1 (2+2), 1 (2+1.5 TH), and 1 (2+1). Long term tenants in three of the four units. The 2+1.5 townhome has been completely remodeled with new doors, moldings, counters, cabinets and vanities. Amenities for the units include: a large living space, enclosed garage parking, laundry hookups, laminate flooring and new vanities (some units), private patios or decks, wall A/C in some units, and gas forced heating. The subject property is separately metered for gas and electric and has a laundry room which provides additional income. Excellent seller financing available with an assumable 2.75% 1rst TD and the seller willing to carry a 2nd for 10 years with only 20% down. The buyer will benefit from a significant principal pay down on the assumable 1rst each month which creates a return exceeding 10%.

Last Agent to Sell the Property

Michael Arp

Morgan Skenderian License #01488586 Listed on: 01/22/2013

Last Buyer's Agent

Michael Arp

Morgan Skenderian License #01488586 Listed on: 01/22/2013

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1968

Lot Details

  • 8,960

Parking

  • 6 Parking Spaces

Home Design

  • 4,424 Sq Ft Home
  • Shingle Roof
  • Wood Siding
  • Stucco

Flooring

  • Carpet
  • Laminate

Bedrooms and Bathrooms

  • 9 Bedrooms
  • 6 Bathrooms

Additional Features

  • 8,960 Sq Ft Lot
  • Forced Air Heating System

Listing and Financial Details

  • Tenant pays for cable TV, electricity, gas
  • Assessor Parcel Number 07356340

Community Details

Overview

  • 4 Units

Building Details

  • 5 Separate Electric Meters
  • 5 Separate Gas Meters
  • 1 Separate Water Meter
  • Gross Income $4,800
  • Net Operating Income $38,914

Property Details

Home Type

Multi-Family

Year Built

Built in 1968

Lot Details

8,960 Sq Ft Lot

Listing Details

  • Assessments: No
  • CapRate: 5.20
  • View: No
  • Property Type: Residential Income
  • Parcel Number: 07356340
  • Year Built: 1968
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: No
  • Flooring: Laminate, Carpet
  • Appliances: No
  • Levels: Two
  • Price Per Square Foot: 171.79

Exterior Features

  • Pool Private: No
  • Roof: Shingle
  • Spa: No
  • Construction Materials: Stucco, Wood Siding

Garage/Parking

  • Parking: No
  • Total Parking Spaces: 6.00

Utilities

  • Heating: Yes
  • Laundry: No
  • Heating Type: Forced Air
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No

Lot Info

  • Lot Size Sq Ft: 8960.00
  • Lot Size Acres: 0.2060

Rental Info

  • Tenant Pays: Cable TV, Electricity, Gas

Multi Family

  • Gross Income: 4800.00
  • Gross Multiplier: 12.90
  • Gross Scheduled Income: 58080.00
  • Net Operating Income: 38914.00
  • Number Of Separate Electric Meters: 5
  • Number Of Separate Gas Meters: 5
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 4
  • Number With Patio: 4
  • Operating Expense: 17424.00
  • Operating Expense Percent: 30.00
  • Vacancy Allowance Rate: 3.00
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area

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
04/01/2013 04/01/13 Sold $760,000 +1.5% $172 / Sq Ft
01/25/2013 01/25/13 Pending -- -- --
01/22/2013 01/22/13 For Sale $749,000 -- $169 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

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 $10,784 $935,880 $742,433 $193,447
2024 $10,784 $917,530 $727,876 $189,654
2023 $10,598 $899,540 $713,604 $185,936
2022 $10,508 $881,902 $699,611 $182,291
2021 $10,336 $864,610 $685,893 $178,717
2020 $10,358 $855,745 $678,860 $176,885
2019 $10,008 $838,966 $665,549 $173,417
2018 $9,888 $822,516 $652,499 $170,017
2017 $9,730 $806,389 $639,705 $166,684
2016 $9,539 $790,578 $627,162 $163,416
2015 $9,435 $778,703 $617,741 $160,962
2014 $9,161 $763,450 $605,641 $157,809
Source: Public Records

Agents Affiliated with this Home

  • Section Image
See All Agents

Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: P846458

California Regional Multiple Listing Service (CRMLS)

APN: 073-563-40

Your Personal Tour Guide

Ask me questions while you tour the home.