NOT LISTED FOR SALE
8 Beds
7 Baths
4,073 Sq Ft
6,750 Sq Ft Lot

Last Sold December 21, 2012

Last sale price $1,107,500 $272 Per Sq Ft

15 Days on Market

Highlights

  • RV Access or Parking
  • Open Floorplan
  • Corner Lot
  • Agnes L. Smith Elementary Rated A-
  • Traditional Architecture
  • Corian Countertops

About This Home

As of December 2012

Fantastic corner location close to the Beach and Shopping .Well maintained and upgraded 4plex The front unit is a 3 bedroom 2.5 bath unit with a fireplace perfect for an owner who wants to live on the property and have a good income. Each unit has a gas fireplace. Good income, renters love this location . There are 6 garages on the porperty for additional income and RV parking. Each unit has a balcony or patio . There is a laundry on site. The untis have been upgraded. This property is a good investment for long term growth and good income today 5.99 cape rate if owner does own managment.

Last Agent to Sell the Property

John Veytia

Compass License #00279282 Listed on: 10/29/2012

Compass

Last Buyer's Agent

John Veytia

Compass License #00279282 Listed on: 10/29/2012

Compass

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1975

Lot Details

  • 6,750 Sq Ft Lot
  • Lot Dimensions are 54x125
  • Property fronts an alley
  • Corner Lot

Parking

  • 6 Car Garage
  • Parking Storage or Cabinetry
  • Rear-Facing Garage
  • Two Garage Doors
  • Driveway
  • Off-Site Parking
  • RV Access or Parking
  • Assigned Parking

Home Design

  • Traditional Architecture
  • Block Foundation
  • Slab Foundation
  • Composition Roof
  • Wood Siding
  • Stucco

Interior Spaces

  • 4,073 Sq Ft Home
  • Open Floorplan
  • Track Lighting
  • Fireplace With Gas Starter
  • Double Door Entry

Kitchen

  • Gas Oven or Range
  • Electric Cooktop
  • Range Hood
  • Dishwasher
  • Corian Countertops
  • Disposal

Flooring

  • Carpet
  • Laminate
  • Tile

Bedrooms and Bathrooms

  • 8 Bedrooms
  • 7 Bathrooms

Utilities

  • Heating System Uses Natural Gas
  • Wall Furnace

Listing and Financial Details

  • Tenant pays for cable TV, electricity, gas
  • Legal Lot and Block 9 / 1703
  • Tax Tract Number 813
  • Assessor Parcel Number 02508809

Community Details

Building Details

  • 4 Leased Units
  • 4 Separate Electric Meters
  • 4 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $562
  • Gardener Expense $960
  • Insurance Expense $1,200
  • Other Expense $2,500
  • Pest Control $200
  • Trash Expense $1,300
  • Water Sewer Expense $1,200
  • New Taxes Expense $12,000
  • Gross Income $6,860
  • Net Operating Income $70,376

Additional Features

  • 4 Units
  • Laundry Facilities

Property Details

Home Type

Multi-Family

Year Built

Built in 1975

Lot Details

0

Parking

6

Listing Details

  • Assessments: No
  • CapRate: 5.99
  • Improvements Amount: 216302
  • Price Per Unit: 285000
  • Road Frontage Type: Alley
  • View: No
  • Water Sewer Expenses: 1200.00
  • Architectural Style: Traditional
  • Property Type: Residential Income
  • Gardener Expense: 960.00
  • Parcel Number: 02508809
  • Year Built: 1975
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: No
  • Interior Amenities: Corian Counters, Open Floorplan, Track Lighting
  • Flooring: Laminate, Carpet, Tile
  • Appliances: No
  • Door Features: Double Door Entry
  • Fireplace Features: Gas Starter
  • Levels: Two
  • Price Per Square Foot: 271.91

Exterior Features

  • Foundation: Block, Slab
  • Pool Private: No
  • Roof: Composition
  • Spa: No
  • Construction Materials: Stucco, Wood Siding

Garage/Parking

  • Garage Spaces: 6.00
  • Parking: No
  • Parking Features: Assigned, Driveway, Off Site, Oversized, Garage Faces Rear, RV Access/Parking, Garage - Single Door, Built-In Storage, Garage - Two Door
  • Total Parking Spaces: 7.00

Utilities

  • Utilities: Sewer Connected
  • Heating: Yes
  • Laundry: No
  • Appliances: Dishwasher, Electric Cooking, Free Standing, Gas Cooking, Disposal, Range Hood, Range
  • Heating Type: Natural Gas, Wall Furnace
  • Laundry Features: Community
  • Pest Control Expense: 200.00
  • Trash Expense: 1300.00
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No

Lot Info

  • Land Value: 841604
  • Lot Features: Corner Lot
  • Lot Size: 54x125
  • Lot Size Sq Ft: 6750.00
  • Lot Size Acres: 0.1550

Rental Info

  • Tenant Pays: Cable TV, Electricity, Gas

Multi Family

  • Average1 Bed Area: 748
  • Average2 Bed Area: 929
  • Average3 Bed Area: 1748
  • Electric Expense: 562.00
  • Gross Income: 6860.00
  • Gross Multiplier: 14.27
  • Gross Scheduled Income: 82320.00
  • Insurance Expense: 1200.00
  • Laundry Equipment Own Lease: Own
  • Net Operating Income: 70376.00
  • Number Of Separate Electric Meters: 4
  • Number Of Separate Gas Meters: 4
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 4
  • Number Of Units Total: 4
  • Number Wall A C: 1
  • Number With Carpet: 2
  • Number With Dishwasher: 4
  • Number With Disposal: 4
  • Number With Drapes: 4
  • Number With Patio: 4
  • Operating Expense: 7944.00
  • Operating Expense Percent: 10.00
  • Other Expense: 2500.00
  • Other Expense Description: matinanc
  • Vacancy Allowance: 4116
  • Vacancy Allowance Rate: 5.00

Tax Info

  • New Taxes Expense: 12000.00
  • Tax Area: 04001
  • Tax Block: 1703
  • Tax Lot: 9
  • Tax Rate: 1.16
  • Tax Tract Number: 813
  • Tax Year: 2011

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
12/21/2012 12/21/12 Sold $1,107,500 -5.7% $272 / Sq Ft
11/13/2012 11/13/12 Pending -- -- --
10/29/2012 10/29/12 For Sale $1,175,000 -- $288 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: L40064

California Regional Multiple Listing Service (CRMLS)

APN: 025-088-09