NOT LISTED FOR SALE

Estimated Value: $917,000 - $1,016,000

4 Beds
2 Baths
1,419 Sq Ft
$674/Sq Ft Est. Value

Sale Details

Date Sold: May 24, 2024

Last sale price $935,000 $659 Per Sq Ft

Est. 2% increase in value since last sale

Current estimated payment $6,240 / mo

17 Days on Market

About This Home

As of May 2024

Great investment opportunity to live in one unit and rent the other. Originally a single-family dwelling, this corner lot property was legally converted into a duplex and renovated in 2017. It now offers two distinct units: 188 Lewis St and 7581 Alexander, each featuring 2 bedrooms and 1 bathroom. One unit is currently vacant (newly painted interior/new flooring throughout) while the other is leased to a reliable long-term tenant on a month-to-month basis, providing instant rental income. Conveniently located within walking distance of downtown Gilroy's shops and restaurants, each unit is approximately 700 sqft and includes separate utilities, a 2-car metal carport with individual storage closets, and in-unit washer/dryer facilities. Rare R3 mixed-use residential and multi-family residential zoning makes this property a great opportunity for investors and homeowners.

Last Agent to Sell the Property

Liliana Sandoval

Redfin License #01980066 Listed on: 03/14/2024

Last Buyer's Agent

Alma Castro

Coldwell Banker Realty License #01479142

Coldwell Banker Realty

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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Property Details

Home Type

  • Multi-Family

Year Built

  • 1900

Lot Details

  • 6,534 Sq Ft Lot

Home Design

  • Duplex
  • Composition Roof
  • Concrete Perimeter Foundation

Interior Spaces

  • 1,419 Sq Ft Home
  • 1-Story Property
  • Fire and Smoke Detector

Parking

  • 4 Parking Spaces
  • 2 Carport Spaces
  • Off-Street Parking
  • Off-Site Parking

Utilities

  • Wall Furnace
  • Individual Gas Meter

Listing and Financial Details

  • Total Actual Rent $28,200

Community Details

Overview

Building Details

  • 1 Leased Unit
  • Gardener Expense $165
  • Manager Expense $165
  • Operating Expense $330
  • Gross Income $28,200

Property Details

Home Type

Multi-Family

Year Built

1900

Lot Details

6,534 Sq Ft Lot

Listing Details

  • Zoning: R3
  • Subclass: Duplex
  • Listing Class: Residential Income (2-4 Units)
  • Structure Sq Ft: 1419
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Year Built: 1900

Interior Features

  • Living Sq Ft: 1419
  • Stories: 1
  • Security: Fire Alarm

Exterior Features

  • Foundation: Concrete Perimeter
  • Roof: Composition

Garage/Parking

  • Parking Spaces: 4
  • Garage Parking Features: Carport, Off-Site Parking, Off-Street Parking
  • Carport Min: 2

Utilities

  • Heating System: Wall Furnace
  • Sewer/Septic System: Sewer - Public

Lot Info

  • Lot Acres: 0.1500
  • Lot Size Area Minimum Units: Square Feet
  • Minimum Lot Size: 6534.00
  • Lot Size Area Maximum Units: Square Feet
  • Maximum Lot Size: 6534.00

Rental Info

  • Existing Lease Term(s): Month To Month
  • Gross Rent Multiplier: 33.65
  • Number Of Leased: 1

Multi Family

  • Utilities: Individual Gas Meters, Public Utilities
  • Expense Landscape: 165
  • Expense Management: 165
  • Expenses Total: 330
  • Income Annual Gross: 28200.00
  • Income Annual Rental: 28200
  • Income Gross Scheduled: 28200
  • Meters: Master Gas, Master Water
  • Number Of Buildings: 1
  • Operating Expenses Include: Fee - Property Management, Services - Gardener
  • Tenant Expenses: Services - Sewer, Services - Trash Removal, Utilities - Electric, Utilities - Gas, Utilities - Hot Water, Utilities - Water

Ownership History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Name Owned For Owner Type

Purchase Details

Listed on
Mar 14, 2024
Closed on
May 21, 2024
Sold by
Bought by
Seller's Agent
Liliana Sandoval
Redfin
Buyer's Agent
Alma Castro
Coldwell Banker Realty
List Price
$949,000
Sold Price
$935,000
Premium/Discount to List
-$14,000
-1.48%
Views
70
Current Estimated Value
$957,057

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$22,057
Avg. Annual Appreciation
1.06%
Original Mortgage
$903,794
Outstanding Balance
$882,461
Interest Rate
6.62%
Mortgage Type
FHA
Estimated Equity
$74,596

Purchase Details

Closed on
Jul 14, 2017
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$517,500
Interest Rate
3.9%
Mortgage Type
New Conventional

Purchase Details

Closed on
Mar 26, 2001
Sold by
Bought by

Purchase Details

Closed on
Apr 16, 1998
Sold by
Bought by

Purchase Details

Closed on
Mar 18, 1998
Sold by
Bought by

Purchase Details

Closed on
Jan 22, 1998
Sold by
Bought by

Purchase Details

Closed on
Nov 7, 1997
Sold by
Bought by
Source: Public Records

Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Agents Specializing in Gilroy, CA

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Purchase History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Buyer Sale Price Title Company
-- Title Forward Of California In
$1,098,636 Title Forward Of California In
$690,000 Old Republic Title Company
-- Old Republic Title Company
-- --
-- --
-- --
-- --
-- --
Source: Public Records

Mortgage History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Status Borrower Loan Amount
Open $903,794
Previous Owner $517,500
Source: Public Records

Property History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Event Price List to Sale Price per Sq Ft
05/24/2024 05/24/24 Sold $935,000 -1.5% $659 / Sq Ft
04/01/2024 04/01/24 Pending -- -- --
03/14/2024 03/14/24 For Sale $949,000 -- $669 / Sq Ft
Source: MLSListings

Tax History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

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
2026 $11,763 $815,000 $448,200 $366,800
2025 $9,556 $953,700 $524,484 $429,216
2024 $9,556 $769,705 $262,145 $507,560
2023 $9,500 $754,613 $257,005 $497,608
2022 $9,345 $739,817 $251,966 $487,851
2021 $9,305 $725,312 $247,026 $478,286
2020 $9,203 $717,876 $244,494 $473,382
2019 $9,118 $703,800 $239,700 $464,100
2018 $8,513 $690,000 $235,000 $455,000
2017 $384 $20,644 $14,304 $6,340
2016 $365 $20,240 $14,024 $6,216
2015 $348 $19,937 $13,814 $6,123
2014 $345 $19,548 $13,544 $6,004
Source: Public Records

Agents Affiliated with this Home

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Map

Source: MLSListings

MLS Number: ML81957583

MLSListings

APN: 841-05-035

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