NOT LISTED FOR SALE

Estimated Value: $1,152,000 - $1,825,000

4 Beds
2 Baths
4,160 Sq Ft
$350/Sq Ft Est. Value

Last Sold July 22, 2019

Last sale price $1,365,000 $328 Per Sq Ft

Est. 7% increase in value since last sale

Current estimated payment $9,066/month

55 Days on Market

Highlights

  • 0.34 Acre Lot
  • No HOA
  • Laundry Room
  • Spanish Architecture
  • Neighborhood Views
  • Forced Air Heating and Cooling System

About This Home

As of July 2019

This extensively renovated pride of ownership 5 unit multifamily property is located in the Anaheim Colony Historic District. The asset offers 5 individual single story 2 bedroom / 1 bathroom homes located on one parcel. Built in 1934, the West Street Apartments consists of 4,160 rentable square feet spread across a lot size totaling 0.34 acres. The owner has completed over $400,000 in recent renovations which include: new forced a/c and heat, new building electrical, new building gas lines, all new kitchen and bath remodeled down to the studs, new landscaping, new in-unit washers and dryers, and new interior and exterior paint. The property has a raised foundation, and a basement for storage. The beautifully landscaped courtyard and front yard have grass, trees, flowers, and plants. There is also grass play area in the back of the property. Each home has their own central air conditioning and heating unit. The property has ample parking including 5 garages and 4 open spots. Each unit has new in-unit washers and dryers. A spacious interior courtyard is located in the center of the property with all five house facing the middle. Anaheim Founders' Park, Mother Colony House, and Anaheim High School are all less than 800 feet away.

Last Agent to Sell the Property

Mark Bridge

Mark Bridge, Broker License #01316702 Listed on: 04/11/2019

Last Buyer's Agent

Greg Bassirpou

Marcus & Millichap RE Invest License #01365951

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $17,404

Year Built

  • Built in 1934

Lot Details

  • 0.34 Acre Lot
  • No Common Walls
  • Density is 2-5 Units/Acre

Parking

  • 5 Car Garage
  • 5 Open Parking Spaces
  • Parking Available
  • Driveway
  • Assigned Parking

Home Design

  • Spanish Architecture
  • Cottage
  • Turnkey
  • Raised Foundation
  • Composition Roof

Interior Spaces

  • 4,160 Sq Ft Home
  • 1-Story Property
  • Ceiling Fan
  • Vinyl Flooring
  • Neighborhood Views
  • Fire and Smoke Detector

Kitchen

  • Gas Oven
  • Gas Cooktop
  • Range Hood
  • Dishwasher
  • Disposal

Bedrooms and Bathrooms

  • 4 Bedrooms
  • 2 Bathrooms

Laundry

  • Laundry Room
  • Dryer
  • Washer

Outdoor Features

  • Exterior Lighting
  • Rain Gutters

Utilities

  • Forced Air Heating and Cooling System
  • Standard Electricity
  • Gas Water Heater

Listing and Financial Details

  • Tenant pays for cable TV, electricity, gas, trash collection
  • Tax Lot 255
  • Tax Tract Number 31
  • Assessor Parcel Number 25503108

Community Details

Overview

  • No Home Owners Association
  • 5 Buildings
  • 5 Units

Building Details

  • 5 Separate Electric Meters
  • 5 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $800
  • Gardener Expense $1,800
  • Insurance Expense $3,000
  • Maintenance Expense $3,750
  • Other Expense $1,190
  • Pest Control $1,200
  • Professional Management Expense $5,000
  • Water Sewer Expense $1,000
  • New Taxes Expense $16,893
  • Operating Expense $34,633
  • Gross Income $94,800
  • Net Operating Income $57,323

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$17,404

Year Built

Built in 1934

Lot Details

0

Parking

5

Listing Details

  • CapRate: 4.00
  • Professional Management Expense: 5000.00
  • Property Attached: No
  • Road Surface Type: Paved
  • Security: Smoke Detector(s)
  • View: Yes
  • Water Sewer Expenses: 1000.00
  • Architectural Style: Cottage, Spanish
  • Property Condition: Turnkey
  • Property Type: Residential Income
  • Gardener Expense: 1800.00
  • Parcel Number: 25503108
  • Year Built: 1934
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Interior Amenities: Ceiling Fan(s)
  • Stories: 1
  • Common Walls: No Common Walls
  • Flooring: Vinyl
  • Appliances: Yes
  • Levels: One
  • Price Per Square Foot: 328.12
  • Room Type: All Bedrooms Down

Exterior Features

  • Foundation: Raised
  • Exterior Features: Lighting, Rain Gutters
  • View: Neighborhood
  • Pool Private: No
  • Roof: Composition

Garage/Parking

  • Garage Spaces: 5.00
  • Parking: Yes
  • Parking Features: Assigned, Driveway, Garage
  • Total Parking Spaces: 10.00
  • Uncovered Spaces: 5.00

Utilities

  • Heating: Yes
  • Laundry: Yes
  • Appliances: Dishwasher, Disposal, Gas Oven, Gas Range, Gas Cooktop, Gas Water Heater, Range Hood, Refrigerator
  • Electric: Standard
  • Heating Type: Forced Air
  • Laundry Features: Dryer Included, Gas Dryer Hookup, Washer Hookup, Washer Included
  • Pest Control Expense: 1200.00
  • Sewer: Public Sewer
  • Water Source: Public
  • Cooling: Central Air
  • Cooling: Yes

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Curbs, Gutters, Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 2-5 Units/Acre
  • Lot Size Sq Ft: 14810.40
  • Lot Size Acres: 0.3400

Rental Info

  • Tenant Pays: Cable TV, Electricity, Gas, Trash Collection

Multi Family

  • Average2 Bed Area: 832 Square Feet
  • Electric Expense: 800.00
  • Gross Income: 94800.00
  • Gross Multiplier: 15.00
  • Gross Operating Income: 91956.00
  • Gross Scheduled Income: 94800.00
  • Insurance Expense: 3000.00
  • Laundry Equipment Own Lease: Own
  • Lot Size Area: 0.3400 Acres
  • Maintenance Expense: 3750.00
  • Net Operating Income: 57323.00
  • Number Of Separate Electric Meters: 5
  • Number Of Separate Gas Meters: 5
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 5
  • Number With Disposal: 5
  • Number With Range: 5
  • Operating Expense: 34633.00
  • Other Expense: 1190.00
  • Other Expense Description: Sp Asses
  • Rent Control: No
  • Total Expenses: 34633.00

Tax Info

  • New Taxes Expense: 16893.00
  • Tax Lot: 255
  • Tax Tract Number: 031

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Apr 11, 2019
Closed on
Jun 4, 2019
Sold by
Gentalen Edward and Mcalpine Susan G
Bought by
Bassirpou Hamid Reza and Jahangiri Bassirpou Pooneh Ghajar
Seller's Agent
Mark Bridge
Mark Bridge, Broker
Buyer's Agent
Greg Bassirpou
Marcus & Millichap RE Invest
List Price
$1,495,000
Sold Price
$1,365,000
Premium/Discount to List
-$130,000
-8.7%
Current Estimated Value
$1,455,106

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$90,106
Avg. Annual Appreciation
1.02%
Original Mortgage
$1,000,000
Interest Rate
3.82%
Mortgage Type
Commercial

Purchase Details

Closed on
May 8, 2014
Sold by
Gentalen Anna
Bought by
Gentalen Revocable Trust
Source: Public Records

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Bassirpou Hamid Reza $1,365,000 North American Title Company
Gentalen Revocable Trust -- None Available
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Bassirpou Hamid Reza $1,000,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
07/22/2019 07/22/19 Sold $1,365,000 -8.7% $328 / Sq Ft
06/05/2019 06/05/19 Pending -- -- --
04/11/2019 04/11/19 For Sale $1,495,000 -- $359 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

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 $17,404 $1,492,825 $1,284,516 $208,309
2024 $17,404 $1,463,554 $1,259,329 $204,225
2023 $17,037 $1,434,857 $1,234,636 $200,221
2022 $16,821 $1,406,723 $1,210,427 $196,296
2021 $16,851 $1,379,141 $1,186,693 $192,448
2020 $16,781 $1,365,000 $1,174,525 $190,475
2019 $2,851 $146,090 $48,968 $97,122
2018 $2,801 $143,226 $48,008 $95,218
2017 $2,720 $140,418 $47,067 $93,351
2016 $2,703 $137,665 $46,144 $91,521
2015 $2,395 $111,013 $45,451 $65,562
2014 $2,292 $108,839 $44,561 $64,278
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: OC19082280

California Regional Multiple Listing Service (CRMLS)

APN: 255-031-08