NOT LISTED FOR SALE
20 Beds
10 Baths
12,218 Sq Ft
0.27 Acre Lot

Sale Details

Date Sold: November 4, 2015

Last sale price $3,200,000 $262 Per Sq Ft

74 Days on Market

Highlights

  • 0.27 Acre Lot
  • Laundry Facilities
  • Heating Available
  • Woodrow Wilson High School Rated A
  • Paved or Partially Paved Lot

About This Home

As of November 2015

The Florida Apartments (14)-2 Bedrooms (several come with 2 Baths) and 8 Garages are perfectly located in the east area of Downtown/Alamitos Beach District on a quite residential street and centered just blocks away, going north to the very popular Arts District on 4th Street, blocks to the Beach going south, Belmont Heights to the east and just minutes away to Downtown going west. Select units come with Granite Counter Tops, Hardwood and Tile Flooring, Tile Showers Walls and Ceiling Fans. All electric, separate meters, separate water heaters. Several rents are below market. Pro Forma Market figures are Gross Income $249,732, Cap Rate 5.26, X Gross 12.98 (ALL 2BD/1BA @ $1400, ALL 2BD/2BA @ $1500, 8-Garages @ $100 and Laundry Room Inc @ $111).

Last Agent to Sell the Property

Larry Bustamante

Keller Williams Realty Downey License #00762602 Listed on: 08/01/2015

Keller Williams Realty Downey

Last Buyer's Agent

Kurt Wood

Belmont Brokerage & Mgmt. INC. License #00452182

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Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1963

Lot Details

  • 11,769 Sq Ft Lot
  • Two or More Common Walls
  • Paved or Partially Paved Lot
  • Level Lot

Parking

  • 8 Car Garage

Home Design

  • Property Attached

Interior Spaces

  • 12,218 Sq Ft Home
  • 2-Story Property

Bedrooms and Bathrooms

  • 20 Bedrooms
  • 10 Bathrooms

Utilities

  • Heating Available

Listing and Financial Details

  • Tax Tract Number 5768
  • Assessor Parcel Number 7263004045

Community Details

Building Details

  • 15 Separate Electric Meters
  • 1 Separate Water Meter
  • Electric Expense $1,531
  • Insurance Expense $1,299
  • Maintenance Expense $12,934
  • Other Expense $1,465
  • Professional Management Expense $9,924
  • Water Sewer Expense $3,550
  • New Taxes Expense $40,189
  • Gross Income $17,120
  • Net Operating Income $127,563

Additional Features

  • 14 Units
  • Laundry Facilities

Property Details

Home Type

Multi-Family

Year Built

Built in 1963

Lot Details

0.27 Acres

Parking

8

Listing Details

  • CapRate: 3.93
  • Professional Management Expense: 9924.00
  • Property Attached: Yes
  • Subdivision Name Other: Alamitos Beach (AB)
  • Water Sewer Expenses: 3550.00
  • Property Type: Residential Income
  • Parcel Number: 7263004045
  • Year Built: 1963
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Levels: Two
  • Price Per Square Foot: 261.91

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 8.00
  • Total Parking Spaces: 16.00

Utilities

  • Utilities: Sewer Available
  • Heating: Yes
  • Laundry: Yes
  • Heating Type: Electric
  • Laundry Features: Community
  • Water Source: Public

Condo/Co-op/Association

  • Community Features: Curbs, Sidewalks

Lot Info

  • Lot Features: Level, Lot 10000-19999 Sqft, Paved
  • Lot Size Sq Ft: 11769.00
  • Price Per Lot Square Foot: 271.90
  • Lot Size Acres: 0.2700

Multi Family

  • Electric Expense: 1531.00
  • Gross Income: 17120.00
  • Gross Multiplier: 15.77
  • Gross Scheduled Income: 205440.00
  • Insurance Expense: 1299.00
  • Lot Size Area: 11769.0000 Square Feet
  • Maintenance Expense: 12934.00
  • Net Operating Income: 127563.00
  • Number Of Separate Electric Meters: 15
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 14
  • Operating Expense: 71714.00
  • Other Expense: 1465.00
  • Rent Control: No
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 40189.00
  • Tax Lot: 00
  • Tax Tract Number: 5768

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
Aug 1, 2015
Closed on
Oct 24, 2015
Sold by
Bought by
Seller's Agent
Larry Bustamante
Keller Williams Realty Downey
Buyer's Agent
Kurt Wood
Belmont Brokerage & Mgmt. INC.
List Price
$3,241,000
Sold Price
$3,200,000
Premium/Discount to List
-$41,000
-1.27%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,995,000
Interest Rate
3.94%
Mortgage Type
Commercial

Purchase Details

Closed on
Jun 22, 2009
Sold by
Bought by

Purchase Details

Closed on
Jul 21, 2006
Sold by
Bought by

Purchase Details

Closed on
Nov 6, 2001
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
$750,000
Interest Rate
6.57%
Mortgage Type
Commercial

Purchase Details

Closed on
Sep 23, 1994
Sold by
Bought by

Purchase Details

Closed on
Aug 19, 1994
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 North Alamitos Beach, 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
$3,200,000 First American Title Company
-- Accommodation
-- First American Title Ins Co
-- Old Republic Title Company
-- North American Title Company
$600,000 North American 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
Closed --
Open $1,925,000
Closed $1,995,000
Previous Owner $750,000
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
11/04/2015 11/04/15 Sold $3,200,000 -1.3% $262 / Sq Ft
10/14/2015 10/14/15 Pending -- -- --
08/01/2015 08/01/15 For Sale $3,241,000 -- $265 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

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
2025 $51,312 $3,788,145 $2,604,351 $1,183,794
2024 $49,062 $3,713,869 $2,553,286 $1,160,583
2023 $48,231 $3,641,049 $2,503,222 $1,137,827
2022 $45,285 $3,569,657 $2,454,140 $1,115,517
2021 $44,353 $3,499,665 $2,406,020 $1,093,645
2019 $43,719 $3,395,865 $2,334,657 $1,061,208
2018 $42,561 $3,329,280 $2,288,880 $1,040,400
2016 $39,135 $3,200,000 $2,200,000 $1,000,000
2015 $34,968 $2,920,702 $1,560,680 $1,360,022
2014 $34,754 $2,863,491 $1,530,109 $1,333,382
Source: Public Records

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW15171663

California Regional Multiple Listing Service (CRMLS)
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