NOT LISTED FOR SALE
10 Beds
10 Baths
5,652 Sq Ft
7,500 Sq Ft Lot

Last Sold August 28, 2015

Last sale price $2,500,000 $442 Per Sq Ft

65 Days on Market

Highlights

  • No HOA
  • Living Room
  • Carpet
  • Washington Elementary School Rated A+
  • Laundry Room
  • Wall Furnace

About This Home

As of August 2015

Two miles from the ocean: 5-10 Mins to Beach, Freeways, Galleria Mall & El Camino College. Low Vacancy, Low Maintenance and Management. Newer Roof, Copper Plumbing, Dual Pane French Windows. Laundry Room & Office/Storage Room, Eleven Separate Electric & Gas Meters. Three Garages and Eleven Resurfaced Parking Spaces. Last sale was in 1989. Great 1031 Exchange Property. Manager on site since 2002. Existing Fixed Rate Assumable Loan, with Possible Owner Carry Back Financing. Owner Licensed. 1901(A,B,C,D,E) & 1905(A,B,C,D,E) Phelan Lane: Apartment (1901A) has a Private Attached 600+ Sqft Garden with New Vinyl Fence and connecting Double Glass Sliding Doors from the bedroom and Apartment (1905E) has the same Connecting Double Glass Sliding Doors from the bedroom to an attached 400 sqft private fenced yard, with artificial grass. Apartments 1901E and 1901A has attached garages through the living rooms. Month to month leases & Long term tenants. Email to request property brochure.

Last Agent to Sell the Property

Rahim Munshi

Realty Service Center License #01081203 Listed on: 05/24/2015

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1955

Lot Details

  • 7,500 Sq Ft Lot
  • 1 Common Wall
  • Density is up to 1 Unit/Acre

Parking

  • 3 Car Garage
  • 11 Carport Spaces
  • Parking Available
  • Assigned Parking

Home Design

  • Property Attached
  • Raised Foundation

Interior Spaces

  • 5,652 Sq Ft Home
  • Living Room
  • Carpet

Kitchen

  • Gas Oven
  • Gas Cooktop

Bedrooms and Bathrooms

  • 10 Bedrooms
  • 10 Bathrooms

Laundry

  • Laundry Room
  • Leased Washer and Dryer

Outdoor Features

  • Exterior Lighting

Utilities

  • Wall Furnace
  • Gas Water Heater
  • Central Water Heater
  • Cable TV Available

Listing and Financial Details

  • Tenant pays for cable TV, electricity, gas, repairs
  • Tax Lot 4157
  • Tax Tract Number 2
  • Assessor Parcel Number 4157002021

Community Details

Overview

  • No Home Owners Association
  • 10 Units

Amenities

  • Laundry Facilities

Building Details

  • 10 Leased Units
  • 11 Separate Electric Meters
  • 11 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $827
  • Gardener Expense $1,140
  • Insurance Expense $2,041
  • Maintenance Expense $6,456
  • Other Expense $696
  • Trash Expense $1,087
  • Water Sewer Expense $2,912
  • New Taxes Expense $28,969
  • Gross Income $13,450
  • Net Operating Income $109,600

Property Details

Home Type

Multi-Family

Year Built

Built in 1955

Lot Details

0

Parking

3

Listing Details

  • CapRate: 4.20
  • Other Phone Description: 310-793-6609
  • Other Phone Number: 714-715-2419
  • Price Per Unit: 257500
  • Property Attached: Yes
  • Water Sewer Expenses: 2912.00
  • Property Type: Residential Income
  • Gardener Expense: 1140.00
  • Parcel Number: 4157002021
  • Year Built: 1955
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: 1 Common Wall
  • Flooring: Carpet
  • Appliances: Yes
  • Levels: Two
  • Price Per Square Foot: 442.32
  • Room Type: Living Room

Exterior Features

  • Foundation: Raised
  • Pool Private: No

Garage/Parking

  • Carport Spaces: 11.00
  • Garage Spaces: 3.00
  • Parking: Yes
  • Parking Features: Assigned
  • Total Parking Spaces: 14.00

Utilities

  • Utilities: Cable Available, Electricity Available, Sewer Available, Phone Connected, Water Connected
  • Heating: Yes
  • Laundry: Yes
  • Appliances: Gas Oven, Gas Cooktop, Gas Water Heater, Water Heater Central
  • Heating Type: Wall Furnace
  • Laundry Features: Community
  • Trash Expense: 1087.00
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Community Features: Street Lights

Lot Info

  • Lot Features: 0-1 Unit/Acre
  • Lot Size Sq Ft: 7500.00
  • Price Per Lot Square Foot: 333.33
  • Lot Size Acres: 0.1720

Rental Info

  • Tenant Pays: Cable TV, Electricity, Gas, Repairs

Multi Family

  • Average1 Bed Area: 550
  • Electric Expense: 827.00
  • Gross Income: 13450.00
  • Gross Multiplier: 15.95
  • Gross Scheduled Income: 161400.00
  • Gross Spendable Income: 106935.00
  • Insurance Expense: 2041.00
  • Laundry Equipment Own Lease: Lease
  • Lot Size Area: 7500.0000 Square Feet
  • Maintenance Expense: 6456.00
  • Net Operating Income: 109600.00
  • Number Of Rented Garages: 3
  • Number Of Separate Electric Meters: 11
  • Number Of Separate Gas Meters: 11
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 10
  • Number Of Units Total: 10
  • Number With Carpet: 10
  • Number With Patio: 2
  • Number With Range: 10
  • Operating Expense: 49861.00
  • Other Expense: 696.00
  • Other Expense Description: Laundry
  • Rent Control: No
  • Total Actual Rent: 13000.00
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 28969.00
  • Tax Lot: 4157
  • Tax Tract Number: 002
  • Tax Year: 2015

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
08/28/2015 08/28/15 Sold $2,500,000 -2.9% $442 / Sq Ft
07/28/2015 07/28/15 Pending -- -- --
05/24/2015 05/24/15 For Sale $2,575,000 0.0% $456 / Sq Ft
05/25/2014 05/25/14 Rented $1,575 -7.1% --
05/25/2014 05/25/14 For Rent $1,695 -- --
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: PW15111419

California Regional Multiple Listing Service (CRMLS)