NOT LISTED FOR SALE

189 Debbie Dr Marina, CA 93933

Studio
-- Bath
4,533 Sq Ft
0.93 Acre Lot

Sale Details

Date Sold: July 24, 2017

Last sale price $1,649,000 $364 Per Sq Ft

24 Days on Market

Highlights

  • 0.93 Acre Lot
  • 5 Car Attached Garage
  • 1-Story Property

About This Home

As of July 2017

Unique Investment Opportunity in Marina. Generate positive cash flow with this 5 unit plus storage unit gated property. Three homes (3143 Marina Dr, 193 Debbie Dr & 195 Debbie Dr), One Duplex (189&191 Debbie Dr) and a storage unit on .927 acres in the heart of Marina. 6 units total, all individual metered for gas/water/elec. All currently rented. Tenant pays all. Properties are different size, design and age. The three homes are 2 bed/1 ba/ 1 car garage. The duplex is a 3 bed/1.5 ba and attached garage. Current rents 18% below market. Priced right at 5.91 % CAP for its current income NOW with a potential of 7.13%. Zoned R-4 which allows for many other possibilities!

Last Agent to Sell the Property

Mark Kavanaugh

Montgomery Company License #00841494 Listed on: 06/23/2017

Last Buyer's Agent

Mark Kavanaugh

Montgomery Company License #00841494 Listed on: 06/23/2017

Property Details

Home Type

  • Multi-Family

Year Built

  • 1949

Lot Details

  • 40,380 Sq Ft Lot

Parking

  • 5 Car Attached Garage
  • 1 Carport Space

Home Design

  • Composition Roof
  • Concrete Perimeter Foundation

Interior Spaces

  • 4,533 Sq Ft Home
  • 1-Story Property

Utilities

  • Wall Furnace
  • Separate Meters
  • Individual Gas Meter

Listing and Financial Details

  • Total Actual Rent $125,640

Community Details

Overview

  • 4,533 Sq Ft Building

Building Details

  • 6 Leased Units
  • Insurance Expense $1,500
  • Other Expense $3,000
  • Operating Expense $22,951
  • Gross Income $123,127

Property Details

Home Type

Multi-Family

Year Built

1949

Lot Details

0.93 Acres

Parking

5

Listing Details

  • Zoning: R-4
  • Subclass: Multiple Dwellings / Structures
  • Listing Class: Residential Income (2-4 Units)
  • Structure Sq Ft: 4533
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Year Built: 1949

Interior Features

  • Living Sq Ft: 4533
  • Stories: 1

Exterior Features

  • Foundation: Concrete Perimeter And Slab
  • Roof: Composition

Garage/Parking

  • Garage Spaces: 5
  • Garage Parking Features: Attached Garage
  • Carport Min: 1

Utilities

  • Heating System: Wall Furnace
  • Sewer/Septic System: Sewer Connected

Lot Info

  • Lot Acres: 0.9270
  • Lot Size Area Minimum Units: Square Feet
  • Minimum Lot Size: 40380.12
  • Lot Size Area Maximum Units: Square Feet
  • Maximum Lot Size: 40380.12

Rental Info

  • Existing Lease Term(s): Month To Month
  • Gross Rent Multiplier: 13.49
  • Number Of Leased: 6

Multi Family

  • Utilities: Individual Electric Meters, Individual Gas Meters
  • Expense Insurance: 1500
  • Expenses Other: 3000
  • Expenses Total: 22951
  • Income Annual Gross: 123127.00
  • Income Annual Rental: 125640
  • Income Gross Scheduled: 125640
  • Income Includes: Improvements, Land, Storage Area
  • Meters: Master Gas, Separate Electric, Separate Water
  • Number Of Buildings: 5
  • Tenant Expenses: Utilities - Electric, Utilities - Gas, Utilities - Water
  • Vacancy Factor: 2
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

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
07/24/2017 07/24/17 Sold $1,649,000 -2.7% $364 / Sq Ft
07/18/2017 07/18/17 Pending -- -- --
07/11/2017 07/11/17 For Sale $1,695,000 0.0% $374 / Sq Ft
07/07/2017 07/07/17 Pending -- -- --
06/23/2017 06/23/17 For Sale $1,695,000 -- $374 / Sq Ft
Source: MLSListings

Agents Affiliated with this Home

  • M

    Seller's Agent in 2017

    Mark Kavanaugh

    Montgomery Company

See All Agents

Map

Source: MLSListings

MLS Number: ML81667376

MLSListings
California Monterey County Marina 93933

189 Debbie Dr, Marina, CA

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