NOT LISTED FOR SALE

16324 Cornuta Ave Bellflower, CA 90706

Estimated Value: $1,102,000 - $1,388,000

7 Beds
4 Baths
2,903 Sq Ft
$443/Sq Ft Est. Value

Last Sold November 08, 2016

Last sale price $755,000 $260 Per Sq Ft

Est. 70% increase in value since last sale

Current estimated payment $7,622/month

189 Days on Market

About This Home

As of November 2016

Buy now, build soon. Split this lot into 7 condo units.

Currently this property has 3 detached homes, each with a private yard and garage. This multi-unit has strong cash flow with 30% down. The front unit is a 3 bedroom 2 bathroom rented for $1925, middle unit is 2 bedroom 1 bathroom rented for $1200, and back unit 2 bedroom 1 bathroom rented for $1280.

This is a fabulous opportunity to build and sell as new construction separate residential units or hold them under 1 portfolio with great cash flow.

Developers take note of this property ready for more units. Height drawings and plans available in supplements section.

Last Agent to Sell the Property

Pete Tryce

Keller Williams South Bay License #01329992 Listed on: 07/11/2016

Co-Listed By

Chuck Brewer

Home Smart Realty Group License #01939550

Last Buyer's Agent

Scott Kim

New Star Realty License #01759544

New Star Realty

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1947

Lot Details

  • 0.33 Acre Lot
  • No Common Walls

Parking

  • 2 Car Garage
  • Parking Available

Home Design

  • 2,903 Sq Ft Home

Bedrooms and Bathrooms

  • 7 Bedrooms
  • 4 Bathrooms

Location

  • Suburban Location

Listing and Financial Details

  • Tax Lot 143
  • Tax Tract Number 554105
  • Assessor Parcel Number 7109006027

Community Details

Overview

  • 3 Buildings
  • 3 Units

Building Details

  • Electric Expense $422
  • Fuel Expense $422
  • Gardener Expense $962
  • Insurance Expense $1,790
  • Trash Expense $668
  • Water Sewer Expense $422
  • Operating Expense $4,686
  • Gross Income $4,405
  • Net Operating Income $48,174

Property Details

Home Type

Multi-Family

Year Built

Built in 1947

Lot Details

0

Parking

2

Listing Details

  • CapRate: 5.55
  • Property Attached: No
  • Road Frontage Type: City Street
  • Water Sewer Expenses: 422.00
  • Property Type: Residential Income
  • Gardener Expense: 962.00
  • Parcel Number: 7109006027
  • Year Built: 1947
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: No Common Walls
  • Price Per Square Foot: 260.08

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 2.00
  • Parking: Yes
  • Parking Features: Garage
  • Total Parking Spaces: 2.00

Utilities

  • Utilities: Sewer Available
  • Trash Expense: 668.00
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Curbs, Sidewalks, Suburban

Lot Info

  • Additional Parcels: No
  • Lot Features: Lot 10000-19999 Sqft
  • Lot Size Sq Ft: 14523.00
  • Price Per Lot Square Foot: 55.09
  • Lot Size Acres: 0.3330

Multi Family

  • Electric Expense: 422.00
  • Fuel Expense: 422.00
  • Gross Income: 4405.00
  • Gross Multiplier: 15.13
  • Gross Scheduled Income: 52860.00
  • Insurance Expense: 1790.00
  • Lot Size Area: 14523.0000 Square Feet
  • Net Operating Income: 48174.00
  • Number Of Units Total: 3
  • Operating Expense: 4686.00
  • Rent Control: No
  • Total Expenses: 4686.00

Tax Info

  • Tax Lot: 143
  • Tax Tract Number: 554105

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Dec 17, 2020
Sold by
Kim Terry J
Bought by
Kim Terry J and Kim Jane
Current Estimated Value
$1,286,561

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$536,500
Outstanding Balance
$478,497
Interest Rate
2.8%
Mortgage Type
New Conventional
Estimated Equity
$808,064

Purchase Details

Closed on
Aug 12, 2016
Sold by
Giries Leila A and The Leila A Giries Trust
Bought by
Kim Terry J

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$566,250
Interest Rate
3.48%
Mortgage Type
New Conventional

Purchase Details

Closed on
Jul 16, 2008
Sold by
Giries Leila
Bought by
Giries Leila A and The Leila A Giries Trust

Purchase Details

Closed on
May 20, 2005
Sold by
Pacheco Ismael and Pacheco Amelia D
Bought by
Dibsy Mary H

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$532,500
Interest Rate
4.87%
Mortgage Type
Purchase Money Mortgage
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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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
Kim Terry J -- Wfg National Title Company
Kim Terry J $755,000 Title 365
Giries Leila A -- None Available
Dibsy Mary H $710,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Kim Terry J $536,500
Previous Owner Kim Terry J $566,250
Previous Owner Dibsy Mary H $532,500
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
11/08/2016 11/08/16 Sold $755,000 -5.6% $260 / Sq Ft
07/11/2016 07/11/16 Price Changed $800,000 0.0% $276 / Sq Ft
07/11/2016 07/11/16 For Sale $800,000 +6.0% $276 / Sq Ft
04/18/2016 04/18/16 Off Market $755,000 -- --
02/04/2016 02/04/16 For Sale $850,000 -- $293 / 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 $10,745 $876,238 $528,065 $348,173
2024 $10,745 $859,058 $517,711 $341,347
2023 $10,320 $842,214 $507,560 $334,654
2022 $10,138 $825,701 $497,608 $328,093
2021 $9,929 $809,511 $487,851 $321,660
2020 $9,842 $801,211 $482,849 $318,362
2019 $9,674 $785,502 $473,382 $312,120
2018 $9,260 $770,100 $464,100 $306,000
2016 $9,072 $750,000 $457,400 $292,600
2015 $8,188 $675,000 $411,700 $263,300
2014 $7,715 $628,000 $383,000 $245,000
Source: Public Records

Agents Affiliated with this Home

  • P

    Seller's Agent in 2016

    Pete Tryce

    Keller Williams South Bay

  • C

    Seller Co-Listing Agent in 2016

    Chuck Brewer

    Home Smart Realty Group

    Section Image
  • Scott Kim

    Buyer's Agent in 2016

    Scott Kim

    New Star Realty

    (213) 422-6778

    3 Total Sales

    Scott Kim
    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: SB16023462

California Regional Multiple Listing Service (CRMLS)

APN: 7109-006-027

California Los Angeles County Bellflower 90706

16324 Cornuta Ave, Bellflower, CA

Not Listed for Sale

MultiFamily

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