NOT LISTED FOR SALE

Estimated Value: $1,592,000 - $1,802,000

4 Beds
4 Baths
1,672 Sq Ft
$995/Sq Ft Est. Value

Last Sold July 20, 2015

Last sale price $745,000 $446 Per Sq Ft

Est. 123% increase in value since last sale

Current estimated payment $10,156/month

68 Days on Market

Highlights

  • Partially Fenced Property
  • Ocean Beach Elementary School Rated A
  • Level Lot

About This Home

As of July 2015

Amazing Upgraded Duplex w/ Great Cash Flow in Prime OB Neighborhood! Blocks to Ocean Beach!! $48,000+ Gross income Projected! Or Live in one and Rent out other! Rare 2 Baths per Unit - 2BR/2BA Upstairs and 2BR/2BA Downstairs! Spacious Living Rooms, Upgraded Kitchen and Baths, Newer Dual Pane Windows! Each has Own Laundry. Detached 2 Car Garage Reserved for Vacant Upstairs Unit or RENT OUT GARAGE SEPARATELY TO INCREASE CASH FLOW. Downstairs Unit Has Own Patio. subject to cancellation of prior escrow. The garage had previously been a studio apartment renting at $1000/ month. Now a 2-Car garage w/ plumbing and electricity was left in place; easy conversion back to a studio if so desired. **please note that there are hardwood floors under the new carpet in the 2nd floor unit. Buyer and buyers agent to verify all information in the MLS before the close of escrow.

Last Listed By

Joseph Caltabellotta

RE/MAX City Real Estate License #01123099 Listed on: 05/01/2015

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $10,654

Year Built

  • Built in 1959

Lot Details

  • 2,783 Sq Ft Lot
  • Partially Fenced Property
  • Level Lot

Home Design

  • Rolled or Hot Mop Roof
  • Stucco Exterior

Interior Spaces

  • 2-Story Property

Schools

  • San Diego Unified School District Elementary And Middle School
  • San Diego Unified School District High School

Utilities

  • Gravity Heating System
  • Separate Water Meter
  • Gas Water Heater

Listing and Financial Details

  • Tenant pays for electricity, gas/propane
  • Assessor Parcel Number 448-123-03-00

Community Details

Overview

  • 2 Units
  • Ocean Bay Beach Community

Pet Policy

  • Pets Allowed

Building Details

  • Net Operating Income $22,200

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$10,654

Year Built

Built in 1959

Lot Details

0

Listing Details

  • Class: 2-4 UNITS
  • Type: Res Income 2-4 Units
  • Market Area: Coastal South
  • Cross Street: LongBranch
  • Neighborhood: Ocean Beach
  • Supplement: The garage had previously been a studio apartment renting at $1000/ month. Now a 2-Car garage w/ plumbing and electricity was left in place; easy conversion back to a studio if so desired. **please note that there are hardwood floors under the new carpet in the 2nd floor unit. Buyer and buyers agent to verify all information in the MLS before the close of escrow.
  • LP / Sq Ft: 16.23
  • Stories: 2 Story
  • Sale Price List Price: 0.96
  • Total Stories: 2
  • Year Built: 1959
  • Allow Comments Review: Yes
  • Internet Address Field: Partial Address
  • Internet Syndication Y N: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily

Exterior Features

  • Exterior Material: Stucco
  • Fencing: Partial
  • Roof: Rolled/Hot Mop

Utilities

  • Sewer/Septic: Sewer Connected
  • Water: Meter on Property
  • Water Heater Type: Gas
  • Heat Equipment: Wall/Gravity

Condo/Co-op/Association

  • Complex Name: Ocean Bay Beach
  • Pets Allowed: Yes
  • Community: OCEAN BEACH

Schools

  • School District URL: https://www.sandiegounified.org/
  • Elementary School: San Diego Unified School District
  • Elementary School Website: https://www.sandiegounified.org/
  • High School: San Diego Unified School District
  • Middle School Url: https://www.sandiegounified.org/
  • Middle School: San Diego Unified School District

Lot Info

  • Lot Size: 1-3,999 SF
  • Site: Public Street
  • Topography: Level
  • Water District: CITY OF SAN DIEGO
  • Assessor Parcel Number: 448-123-03-00
  • Land Use Code: mult
  • Estimated Lot Sq Ft: 2783
  • Water District URL: http://www.ci.san-diego.ca.us/water
  • Estimated Number of Acres: 0.0639
  • Map Code Column: A
  • Map Code Page: 1268
  • Map Code Row: 5

Rental Info

  • Tenant Pays: Electricity, Gas/Propane

Multi Family

  • No. of Units: 2
  • Actual Net Operating Income: 22200
  • Annual Expense Actual: 600
  • Annual Expense Projected: 1200
  • Gross Rent Multiplier Actual: 35.9
  • Gross Rent Multiplier Projected: 16.6
  • Gross Sched Income Actual: 22800
  • Gross Sched Income Projected: 49200
  • Number Of Buildings: 1
  • Number Of Units With Dryers: 2
  • Number Of Units With Garage: 1
  • Number Of Units With Patios: 1
  • Number Of Units With Range Oven: 2
  • Number Of Units With Refrigerator: 2
  • Number Of Units With Washers: 2

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
May 1, 2015
Closed on
Jun 10, 2015
Sold by
Kierman Kimberly Ann and Kierman Jeffrey T
Bought by
The Ritblatt Family Trust
Seller's Agent
Joseph Caltabellotta
RE/MAX City Real Estate
Buyer's Agent
Barbara Ostroff
eXp Realty of California, Inc.
List Price
$820,000
Sold Price
$745,000
Premium/Discount to List
-$75,000
-9.15%
Total Days on Market
68
Current Estimated Value
$1,663,762

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$918,762
Avg. Annual Appreciation
7.60%

Purchase Details

Closed on
Oct 11, 2011
Sold by
Claxton Brendan B
Bought by
Kierman Kimberly Ann and Kierman Jeffrey T

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$380,000
Interest Rate
3.95%
Mortgage Type
New Conventional

Purchase Details

Closed on
Sep 14, 2011
Sold by
Claxton Xiuhua Lin
Bought by
Claxton Brendan B

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$380,000
Interest Rate
3.95%
Mortgage Type
New Conventional

Purchase Details

Closed on
Oct 27, 2005
Sold by
Claxton Brendan
Bought by
Claxton Brendan B

Purchase Details

Closed on
Feb 16, 2005
Sold by
Claxton Brendan B
Bought by
Claxton Brendan B

Purchase Details

Closed on
Dec 30, 2002
Sold by
Lin Xiuhua
Bought by
Claxton Brenda

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$413,100
Interest Rate
5.87%

Purchase Details

Closed on
Dec 17, 2002
Sold by
Ramirez Michael and Ramirez Arianne Nicole
Bought by
Claxton Brendan

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$413,100
Interest Rate
5.87%

Purchase Details

Closed on
Dec 15, 1999
Sold by
Ramirez Michael N and Ramirez Goff N
Bought by
Ramirez Michael and Ramirez Arianne Nicole

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$50,000
Interest Rate
7.82%

Purchase Details

Closed on
Aug 29, 1996
Sold by
Mcnulty William L and Mcnulty Judith G
Bought by
Ramirez Michael and Goff Arianne Nicole

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$183,498
Interest Rate
8.14%
Mortgage Type
VA

Purchase Details

Closed on
May 18, 1988

Range of Values:

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Average Value
Not Available
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
The Ritblatt Family Trust $745,000 Ticor Title San Diego
Kierman Kimberly Ann $510,000 Fidelity National Title Co
Claxton Brendan B -- Fidelity
Claxton Brendan B -- Fidelity National Title
Claxton Brendan B -- --
Claxton Brendan -- Lawyers Title Company
Claxton Brendan -- Lawyers Title Company
Claxton Brendan B -- --
Claxton Brenda -- Equity Title Company
Claxton Brendan $530,000 Chicago Title Co
Ramirez Michael -- Commonwealth Land Title Co
Ramirez Michael $180,000 Guardian Title Company
-- $170,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Kierman Kimberly Ann $380,000
Previous Owner Claxton Brendan B $635,000
Previous Owner Claxton Brendan $450,000
Previous Owner Claxton Brendan $413,100
Previous Owner Ramirez Michael $300,700
Previous Owner Ramirez Michael $275,000
Previous Owner Ramirez Michael $50,000
Previous Owner Ramirez Michael $194,785
Previous Owner Ramirez Michael $183,498
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
07/20/2015 07/20/15 Sold $745,000 -9.1% $446 / Sq Ft
07/08/2015 07/08/15 Pending -- -- --
05/01/2015 05/01/15 For Sale $820,000 -- $490 / Sq Ft
Source: San Diego MLS

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
2024 $10,654 $864,630 $754,378 $110,252
2023 $10,419 $847,678 $739,587 $108,091
2022 $10,142 $831,058 $725,086 $105,972
2021 $10,073 $814,764 $710,869 $103,895
2020 $9,951 $806,410 $703,580 $102,830
2019 $9,773 $790,599 $689,785 $100,814
2018 $9,137 $775,098 $676,260 $98,838
2017 $8,920 $759,900 $663,000 $96,900
2016 $8,778 $745,000 $650,000 $95,000
2015 $6,290 $533,000 $418,040 $114,960
2014 -- $522,561 $409,852 $112,709
Source: Public Records

Agents Affiliated with this Home

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Map

Source: San Diego MLS

MLS Number: 150023513

San Diego MLS

APN: 448-123-03