NOT LISTED FOR SALE

Estimated Value: $624,000 - $706,842

3 Beds
2 Baths
1,170 Sq Ft
$563/Sq Ft Est. Value

Last Sold July 14, 2022

Last sale price $669,500 $572 Per Sq Ft

Est. 2% decrease in value since last sale

Current estimated payment $4,153/month

75 Days on Market

Highlights

  • Mountain View
  • Attached Carport
  • 1-Story Property
  • Laundry Room

About This Home

As of July 2022

1866 Fleming Street in Pomona is located blocks from Cal Poly Pomona, centrally located near shopping and restaurant, including Costco, Home Depot, Walmart, In and Out. The property is comprised of a (2) Two Bedroom and (1) One Bath House with a newly 2022 constructed One Bedroom and One Bath Unit in the rear of the property with a Certificate of Occupancy to be issued by end of May 2022. The property is currently rented to Cal Poly Pomona students and generates $3,400.00 a month for the two-bedroom and one bath house. Once completed, the rear unit will generate an additional $1,700.00. The GRM is 13.87 and a Cap Rate of 4.72%. The main house has been recently remodeled with new exterior paint, a newly remodeled kitchen, a freshly renovated bathroom, new flooring, on-site laundry, parking, etc. Two structures sit on 6167 Sq.Ft. Lot with the main house having 808 Sq.Ft. and the new second unit is 369 Sq.Ft. for a total of 1170 Sq.Ft.

The property is ideally suited to be used as a student housing, investor, or first-time buyer.

The seller is highly motivated! Seller has asked to see all offers.

Seller has already received the final permit on rear unit and will be issued CofO by end of May.

Last Agent to Sell the Property

James Antonucci

Keller Williams Realty-Studio City License #01822661 Listed on: 04/22/2022

Keller Williams Realty-Studio City

Co-Listed By

Mike Pesci

Keller Williams Studio City License #01274379

Last Buyer's Agent

James Antonucci

Keller Williams Realty-Studio City License #01822661 Listed on: 04/22/2022

Keller Williams Realty-Studio City

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1949

Lot Details

  • 6,167 Sq Ft Lot
  • No Common Walls
  • Density is 2-5 Units/Acre

Interior Spaces

  • 1,170 Sq Ft Home
  • 1-Story Property
  • Mountain Views

Bedrooms and Bathrooms

  • 3 Bedrooms
  • 2 Bathrooms

Laundry

  • Laundry Room
  • Washer and Gas Dryer Hookup

Parking

  • Attached Carport
  • Parking Available
  • Paved Parking

Location

  • Suburban Location

Listing and Financial Details

  • Tax Lot 28
  • Tax Tract Number 14694
  • Assessor Parcel Number 8705005007
  • $10,613 per year additional tax assessments

Community Details

Overview

  • 2 Buildings
  • 2 Units

Building Details

  • Rent Control
  • 3 Separate Electric Meters
  • 3 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $960
  • Fuel Expense $960
  • Insurance Expense $585
  • Water Sewer Expense $960
  • New Taxes Expense $9,500
  • Operating Expense $19,252
  • Gross Income $59,364
  • Net Operating Income $41,224

Property Details

Home Type

Multi-Family

Year Built

Built in 1949

Lot Details

0

Listing Details

  • CapRate: 5.42
  • Property Attached: No
  • View: Yes
  • Water Sewer Expenses: 960.00
  • Zoning: POR16000*
  • Property Type: Residential Income
  • Parcel Number: 8705005007
  • Year Built: 1949
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Stories: 1
  • Common Walls: No Common Walls
  • Levels: One
  • Price Per Square Foot: 572.22

Exterior Features

  • View: Mountain(s)
  • Pool Private: No

Garage/Parking

  • Parking: Yes
  • Parking Features: Attached Carport, Concrete

Utilities

  • Laundry: Yes
  • Laundry Features: Gas Dryer Hookup, Washer Hookup
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Suburban

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 2-5 Units/Acre
  • Lot Size Sq Ft: 6167.00
  • Lot Size Acres: 0.1416

Multi Family

  • Average2 Bed Area: 808 Square Feet
  • Electric Expense: 960.00
  • Fuel Expense: 960.00
  • Gross Income: 59364.00
  • Gross Multiplier: 12.42
  • Gross Operating Income: 59364.00
  • Gross Scheduled Income: 61200.00
  • Insurance Expense: 585.00
  • Lot Size Area: 6167.0000 Square Feet
  • Net Operating Income: 41224.00
  • Number Of Separate Electric Meters: 3
  • Number Of Separate Gas Meters: 3
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 2
  • Operating Expense: 18140.00
  • Operating Expense Percent: 31.50
  • Rent Control: Yes
  • Total Expenses: 19252.00
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 9500.00
  • Tax Census Tract: 4090.00
  • Tax Lot: 28
  • Tax Tract Number: 14694
  • TaxOtherAnnualAssessmentAmount: 10613.00

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Mar 14, 2020
Closed on
Jun 26, 2020
Sold by
Chen Chia Hui
Bought by
Caal Johnny and Caal Lourdes L
Seller's Agent
Jack Chen
WEST SHORES REALTY, INC.
Buyer's Agent
SERGIO PACHECO
CENTURY 21 REALTY MASTERS
List Price
$399,990
Sold Price
$390,000
Premium/Discount to List
-$9,990
-2.5%
Current Estimated Value
$658,461

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$268,461
Avg. Annual Appreciation
10.17%
Original Mortgage
$292,500
Outstanding Balance
$258,791
Interest Rate
3.1%
Mortgage Type
New Conventional
Estimated Equity
$399,670

Purchase Details

Listed on
Jan 4, 2016
Closed on
Feb 9, 2016
Sold by
Mejia Ivan E
Bought by
Chen Chia Hui
Seller's Agent
Robert Mc Cullough
NEW HAVEN INVESTMENTS INC
Buyer's Agent
Abi Robledo
HAVEN ROBLEDO REALTY
List Price
$300,000
Sold Price
$295,000
Premium/Discount to List
-$5,000
-1.67%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
6.54%

Purchase Details

Closed on
Aug 6, 2012
Sold by
Mejia Ivan E
Bought by
Mejia Ivan E

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$173,637
Interest Rate
3.87%
Mortgage Type
FHA

Purchase Details

Closed on
Oct 14, 2008
Sold by
Correa Jose Luis
Bought by
Us Bank Na

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$182,756
Interest Rate
6.43%
Mortgage Type
FHA

Purchase Details

Closed on
Sep 29, 2008
Sold by
Correa Jose Luis
Bought by
Mejia Ivan E

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$182,756
Interest Rate
6.43%
Mortgage Type
FHA

Purchase Details

Closed on
Sep 16, 2005
Sold by
Correa Maria De La Luz
Bought by
Correa Jose Luis

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$76,000
Interest Rate
5.72%
Mortgage Type
Stand Alone Second

Purchase Details

Closed on
Aug 8, 2005
Sold by
Aguilar Alfredo
Bought by
Correa Jose Luis

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$76,000
Interest Rate
5.72%
Mortgage Type
Stand Alone Second

Purchase Details

Closed on
Aug 26, 2004
Sold by
Lopez Patricia
Bought by
Aguilar Alfredo

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$187,000
Interest Rate
7.85%
Mortgage Type
New Conventional

Purchase Details

Closed on
Dec 7, 2001
Sold by
Magana Hector and Magana Magdalena
Bought by
Aguilar Alfredo

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$138,225
Interest Rate
7.01%
Mortgage Type
Seller Take Back

Purchase Details

Closed on
Mar 19, 2001
Sold by
Short Jerry L
Bought by
Magana Hector and Magana Magdalena
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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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
Caal Johnny $390,000 First American Title Company
Chen Chia Hui $295,000 Title 365
Mejia Ivan E -- Lawyers Title
Us Bank Na $200,000 Accommodation
Mejia Ivan E $190,000 Commonwealth Title
Mejia Ivan E -- Commonwealth Title
Correa Jose Luis -- Fidelity National Title Co
Correa Jose Luis $380,000 Fidelity National Title Co
Aguilar Alfredo -- Southland Title Company
Aguilar Alfredo $143,500 --
Magana Hector -- Orange Coast Title
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Caal Johnny $292,500
Previous Owner Mejia Ivan E $173,637
Previous Owner Mejia Ivan E $182,756
Previous Owner Correa Jose Luis $76,000
Previous Owner Correa Jose Luis $304,000
Previous Owner Aguilar Alfredo $187,000
Previous Owner Aguilar Alfredo $138,225
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
07/14/2022 07/14/22 Sold $669,500 -11.9% $572 / Sq Ft
07/06/2022 07/06/22 Pending -- -- --
05/24/2022 05/24/22 Price Changed $760,000 -10.5% $650 / Sq Ft
04/22/2022 04/22/22 For Sale $849,000 +117.7% $726 / Sq Ft
07/31/2020 07/31/20 Sold $390,000 -2.5% $483 / Sq Ft View Prior Sale
06/09/2020 06/09/20 For Sale $399,990 0.0% $495 / Sq Ft
05/08/2020 05/08/20 Pending -- -- --
05/07/2020 05/07/20 Pending -- -- --
04/26/2020 04/26/20 For Sale $399,990 +2.6% $495 / Sq Ft
04/26/2020 04/26/20 Off Market $390,000 -- --
04/11/2020 04/11/20 Price Changed $399,999 +1.3% $495 / Sq Ft
03/14/2020 03/14/20 For Sale $395,000 0.0% $489 / Sq Ft
07/06/2016 07/06/16 Rented $1,800 -5.3% --
05/25/2016 05/25/16 For Rent $1,900 0.0% --
03/04/2016 03/04/16 Sold $295,000 -1.7% $365 / Sq Ft View Prior Sale
02/05/2016 02/05/16 Pending -- -- --
01/04/2016 01/04/16 For Sale $300,000 -- $371 / 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 $8,570 $696,547 $505,322 $191,225
2024 $8,570 $682,890 $495,414 $187,476
2023 $8,397 $669,500 $485,700 $183,800
2022 $5,187 $397,800 $318,240 $79,560
2021 $5,252 $390,000 $312,000 $78,000
2020 $4,222 $319,314 $224,712 $94,602
2019 $4,327 $313,054 $220,306 $92,748
2018 $3,971 $306,917 $215,987 $90,930
2016 $2,698 $206,681 $109,541 $97,140
2015 $2,675 $203,577 $107,896 $95,681
2014 $2,661 $199,590 $105,783 $93,807
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: SR22082616

California Regional Multiple Listing Service (CRMLS)

APN: 8705-005-007