Seller's Agent in 2022
Jon Lang
Ken Turton, Broker
(916) 468-0781
9 in this area
33 Total Sales
Estimated Value: $1,546,783
4
Beds
2
Baths
3,700
Sq Ft
$418/Sq Ft
Est. Value
Highlights
- Built-In Refrigerator
- 0.15 Acre Lot
- Wood Flooring
- Miwok Middle School Rated A-
- Craftsman Architecture
- No HOA
About This Home
As of June 2022Very unique, single-tenant NNN investment opportunity in the heart of Midtown! Property is comprised of two structures on the same parcel: i) a 3,700 SF, three-story duplex located off N Street; and ii) a 2,200 SF repurposed shipping container restaurant located off Matsui Alley. Entire property, including both residential units and the shipping container restaurant, is master-leased to Federalist Public House, a popular restaurant/bar that has occupied the property since 2014. Lease is triple net, with the Tenant paying for ALL operating expenses and maintenance/repair to the property (except for the duplex roof). New five-year lease with large annual increases signed in Q4 2020. Current monthly rent is $8,000/NNN, which equates to a 5.6% capitalization rate on actual income. Rent increases to $8,750/NNN in year 3, $9,250/NNN in year 4, and $9,750/NNN in year 5. Seller recently completed approx. $100k in section 1&2 pest work. You will not find this return anywhere in the urban core!
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $20,890
Year Built
- Built in 1907
Lot Details
- 6,534 Sq Ft Lot
- Lot Dimensions: 65
- Level Lot
Home Design
- Craftsman Architecture
- Split Level Home
- Mixed Use
- Slab Foundation
- Frame Construction
- Composition Roof
Interior Spaces
- 3-Story Property
- Storage
- Wood Flooring
Kitchen
- Free-Standing Gas Oven
- Built-In Gas Range
- Built-In Refrigerator
- Dishwasher
Parking
- 1 Open Parking Space
- 1 Parking Space
- On-Street Parking
Utilities
- Central Heating and Cooling System
- 220 Volts
- Natural Gas Connected
- Gas Water Heater
Listing and Financial Details
- Tenant pays for electricity, sewer, insurance, maintenance
- Assessor Parcel Number 007-0146-011-0000
Community Details
Overview
- No Home Owners Association
- 2 Buildings
- 3 Units
Amenities
- Laundry Facilities
Building Details
- 3 Leased Units
- Net Operating Income $96,000
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Closed on
May 28, 2025
Sold by
Paino Domenic J
Bought by
Paino Birgitta
Current Estimated Value
Purchase Details
Closed on
May 25, 2025
Sold by
Paino Domenic J and Paino Birgitta
Bought by
Paino Birgitta and Paino Jan-Erik D
Purchase Details
Listed on
Jan 12, 2022
Closed on
Jun 24, 2022
Sold by
Granite Chief Enterprises Llc
Bought by
2009 N Street Llc
Seller's Agent
Jon Lang
Ken Turton, Broker
Buyer's Agent
Kelly Rivett
Cornish & Carey Commercial
Sold Price
$1,625,000
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
-1.63%
Original Mortgage
$1,000,000
Interest Rate
5.25%
Mortgage Type
New Conventional
Purchase Details
Closed on
Feb 2, 2016
Sold by
Larocque Mark and Mark La Rocque Revocable Trust
Bought by
Granite Chief Enterprises Llc
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$923,000
Interest Rate
3.98%
Mortgage Type
Commercial
Purchase Details
Closed on
Apr 28, 2010
Sold by
Larocque Mark
Bought by
Larocque Mark and The Mark La Rocque Revocable T
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Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| Paino Birgitta | -- | Placer Title | |
| Paino Domenic J | $1,700,000 | Placer Title | |
| Paino Birgitta | -- | Placer Title | |
| Paino Birgitta | -- | Placer Title | |
| Paino Birgitta | -- | Placer Title | |
| 2009 N Street Llc | $1,625,000 | Placer Title | |
| Granite Chief Enterprises Llc | $1,665,000 | Placer Title Company | |
| Larocque Mark | -- | None Available |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Previous Owner | 2009 N Street Llc | $1,000,000 | |
| Previous Owner | Granite Chief Enterprises Llc | $850,776 | |
| Previous Owner | Granite Chief Enterprises Llc | $923,000 | |
| Previous Owner | Larocque Mark | $200,000 | |
| Previous Owner | Larocque Mark | $275,200 | |
| Previous Owner | Larocque Mark | $100,000 | |
| Previous Owner | Larocque Mark | $100,000 | |
| Previous Owner | Larocque Mark | $337,000 | |
| Previous Owner | Larocque Mark | $337,000 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 06/30/2022 06/30/22 | Sold | $1,625,000 | -6.1% | $439 / Sq Ft |
| 04/18/2022 04/18/22 | Pending | -- | -- | -- |
| 03/08/2022 03/08/22 | Price Changed | $1,730,000 | -0.9% | $468 / Sq Ft |
| 02/28/2022 02/28/22 | For Sale | -- | -- | -- |
| 02/21/2022 02/21/22 | Off Market | $1,745,000 | -- | -- |
| 02/17/2022 02/17/22 | For Sale | -- | -- | -- |
| 02/06/2022 02/06/22 | Pending | -- | -- | -- |
| 01/12/2022 01/12/22 | For Sale | $1,745,000 | -- | $472 / Sq Ft |
Source: MetroList
Tax History Compared to Growth
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 | $20,890 | $1,724,462 | $588,970 | $1,135,492 |
| 2024 | $20,890 | $1,690,650 | $577,422 | $1,113,228 |
| 2023 | $20,395 | $1,657,500 | $566,100 | $1,091,400 |
| 2022 | $18,542 | $1,500,000 | $555,000 | $945,000 |
| 2021 | $21,583 | $1,820,917 | $360,901 | $1,460,016 |
| 2020 | $21,751 | $1,802,247 | $357,201 | $1,445,046 |
| 2019 | $21,281 | $1,766,910 | $350,198 | $1,416,712 |
| 2018 | $20,726 | $1,732,266 | $343,332 | $1,388,934 |
| 2017 | $20,435 | $1,698,300 | $336,600 | $1,361,700 |
| 2016 | $9,215 | $710,769 | $227,842 | $482,927 |
| 2015 | $8,423 | $700,093 | $224,420 | $475,673 |
| 2014 | $5,055 | $427,986 | $276,120 | $151,866 |
Source: Public Records
Agents Affiliated with this Home
-
Jon Lang
-
Kelly Rivett
Buyer's Agent in 2022
Kelly Rivett
Cornish & Carey Commercial
(408) 727-9600
2 in this area
18 Total Sales
Map
Source: MetroList
MLS Number: 222003056
APN: 007-0146-011
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