NOT LISTED FOR SALE

Estimated Value: $3,956,000 - $9,030,000

4 Beds
2 Baths
6,455 Sq Ft
$1,036/Sq Ft Est. Value

Last Sold April 10, 2012

Last sale price $3,500,000 $542 Per Sq Ft

Est. 91% increase in value since last sale

Current estimated payment $41,106/month

327 Days on Market

Highlights

  • Beach Front
  • White Water Ocean Views
  • Ocean Side of Freeway
  • Newport Elementary School Rated A
  • Property has ocean access
  • Sauna

About This Home

As of April 2012

Incredibly rare four-story three-unit condominium building on the oceanfront with spectacular views. Fantastic opportunity to renovate and create value in this legal non-conforming triplex that was condo-converted in 2003. Density, height and square footage cannot be replicated. Three individual full floor units plus subterranean floor for storage, accessory use and parking. Bring your investor clients! One of a kind property. Will not last. Seller may finance.

Last Agent to Sell the Property

Robert Giem

Plus Real Estate License #01082750 Listed on: 04/04/2011

Last Buyer's Agent

Mike Bryant

Michael Bryant, Broker License #00496781

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $56,860

Year Built

  • Built in 1963

Lot Details

  • Lot Dimensions are 102.5 x 30
  • Beach Front

Property Views

  • White Water Ocean
  • Coastline
  • Catalina
  • Panoramic
  • City Lights

Home Design

  • Tar and Gravel Roof
  • Wood Siding
  • Stucco

Interior Spaces

  • 6,455 Sq Ft Home
  • Wood Burning Fireplace
  • Electric Fireplace
  • Utility Room
  • Basement

Flooring

  • Carpet
  • Tile

Bedrooms and Bathrooms

  • 4 Bedrooms
  • 2 Bathrooms

Parking

  • 6 Parking Spaces
  • 3 Carport Spaces

Outdoor Features

  • Property has ocean access
  • Ocean Side of Freeway
  • Balcony

Utilities

  • Heating System Uses Natural Gas
  • Wall Furnace
  • Sewer Paid

Listing and Financial Details

  • Legal Lot and Block 6 / 18
  • Tax Tract Number 515
  • Assessor Parcel Number 93291101

Community Details

Overview

  • 3 Units

Amenities

  • Sauna
  • Laundry Facilities

Building Details

  • 3 Separate Electric Meters
  • 3 Separate Gas Meters
  • 3 Separate Water Meters

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$56,860

Year Built

Built in 1963

Lot Details

0

Listing Details

  • Assessments: No
  • View: Yes
  • Property Type: Residential Income
  • Parcel Number: 93291101
  • Year Built: 1963
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: No
  • Interior Amenities: Balcony
  • Flooring: Carpet, Tile
  • Appliances: No
  • Fireplace Features: Electric, Wood Burning
  • Levels: Three Or More
  • Price Per Square Foot: 542.22
  • Room Type: Basement, Utility Room

Exterior Features

  • View: Catalina, City Lights, Coastline, Ocean, Panoramic, Water, White Water
  • Pool Private: No
  • Roof: Tar/Gravel
  • Spa: No
  • Construction Materials: Stucco, Wood Siding

Garage/Parking

  • Carport Spaces: 3.00
  • Parking: No
  • Parking Features: Carport
  • Total Parking Spaces: 6.00

Utilities

  • Utilities: Sewer Connected
  • Heating: Yes
  • Laundry: No
  • Heating Type: Natural Gas, Wall Furnace
  • Laundry Features: Community
  • Sewer: Sewer Paid
  • Water Source: Public

Condo/Co-op/Association

  • Amenities: Sauna
  • Senior Community: No

Lot Info

  • Lot Size: 102.5 x 30

Multi Family

  • Number Of Separate Electric Meters: 3
  • Number Of Separate Gas Meters: 3
  • Number Of Separate Water Meters: 3
  • Number Of Units Total: 3
  • Waterfront Features: Beach Access, Beach Front, Ocean Access, Ocean Front, Ocean Side of Freeway

Tax Info

  • Tax Block: 18
  • Tax Lot: 6
  • Tax Tract Number: 515

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
May 3, 2001
Sold by
Ross Gene W and Ross Carolyn G
Bought by
Ross Gene W and Ross Carolyn G
Current Estimated Value
$6,687,440

Purchase Details

Closed on
Sep 8, 1994
Sold by
Ross Gene W and Ross Carolyn G
Bought by
Ross Gene W and Ross Carolyn G

Purchase Details

Closed on
Jun 17, 1994
Sold by
Ross Gene W and Ross Carolyn G
Bought by
Ross Gene W and Ross Carolyn G

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$730,000
Interest Rate
8.83%
Source: Public Records

Range of Values:

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Average Value
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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
Ross Gene W -- --
Ross Gene W -- --
Ross Gene W -- United Title
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Bos Tony Tunis $3,000,000
Closed Ross Gene W $1,000,000
Closed Ross Gene W $730,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
04/10/2012 04/10/12 Sold $3,500,000 -27.8% $542 / Sq Ft
02/25/2012 02/25/12 Pending -- -- --
04/04/2011 04/04/11 For Sale $4,850,000 -- $751 / 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 $56,860 $5,473,813 $3,879,981 $1,593,832
2024 $56,860 $5,366,484 $3,803,903 $1,562,581
2023 $55,534 $5,261,259 $3,729,316 $1,531,943
2022 $54,620 $5,158,098 $3,656,193 $1,501,905
2021 $53,570 $5,056,959 $3,584,503 $1,472,456
2020 $53,056 $5,005,107 $3,547,749 $1,457,358
2019 $51,948 $4,906,968 $3,478,185 $1,428,783
2018 $50,909 $4,810,753 $3,409,985 $1,400,768
2017 $50,007 $4,716,425 $3,343,123 $1,373,302
2016 $42,635 $4,029,085 $3,277,572 $751,513
2015 $39,711 $3,729,348 $3,228,340 $501,008
2014 $38,037 $3,586,207 $3,165,102 $421,105
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: U11001499

California Regional Multiple Listing Service (CRMLS)

APN: 047-173-37