J
Seller's Agent in 2019
John Mociak
Avenue Realty Group
216 E Graves Ave Monterey Park, CA 91755
Estimated Value: $1,510,000 - $2,023,000
8
Beds
4
Baths
3,344
Sq Ft
$551/Sq Ft
Est. Value
Highlights
- Mountain View
- Cooling System Mounted To A Wall/Window
- Storm Doors
- Repetto Elementary School Rated A
- Laundry Room
- Wall Furnace
About This Home
As of December 2019Legacy asset, kept within the same family for over 50 years, first time on the market. Rare opportunity to acquire two (2) single story duplexes on a large lot in highly sought after North-Central Monterey Park. Excellent pro forma investment metrics for the area: gross rental income $100,800, cap rate 5.19%, GRM 13.84. All 4 Units are 2 bedroom/ 1 bath. Each unit has a front and rear entrance, washer/dryer hookups, and larger oversized windows for a more natural living room lighting, creating a nice atmosphere and living space for the tenants. On-site parking includes 4 garage spaces and 4 surface spaces. New roofs on all structures, including garages, with a transferable warranty. Walkup driveway slurry sealed for enhanced wear and tear resistance, added safety, and improved cosmetic appearance. Termite work on all structures, including garages, with warranty. The subject property is located in a desirable residential section approximately 5 minutes from the 10 freeway, The City of Alhambra, and Atlantic Times Square, a 200,000 s.f. national, regional, and local shopping center which includes 210 luxury condos, shops, restaurants, AMC Theaters, and 24 Hour Fitness. Monterey Park was named the third best american city to live in by Money Magazine in 2017 and has been thriving ever since. The local multifamily rental market continues to demonstrate strength due to the area's prime location near major freeways, shopping centers, parks, schools, and restaurants.
Last Agent to Sell the Property
John Mociak
Avenue Realty Group License #01708711 Listed on: 10/19/2019
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $17,158
Year Built
- Built in 1954
Lot Details
- 0.29 Acre Lot
- No Units Located Below
- Two or More Common Walls
- Density is up to 1 Unit/Acre
Parking
- 4 Open Parking Spaces
- 4 Car Garage
Property Views
- Mountain
- Neighborhood
Home Design
- Quadruplex
- Shingle Roof
Interior Spaces
- 3,344 Sq Ft Home
- 1-Story Property
- Storm Doors
Bedrooms and Bathrooms
- 8 Bedrooms
- 4 Bathrooms
Laundry
- Laundry Room
- Washer and Gas Dryer Hookup
Location
- Suburban Location
Utilities
- Cooling System Mounted To A Wall/Window
- Wall Furnace
- Standard Electricity
Listing and Financial Details
- Legal Lot and Block 4 / 1
- Tax Tract Number 4461
- Assessor Parcel Number 5260001011
Community Details
Overview
- 2 Buildings
- 4 Units
Building Details
- Rent Control
- 4 Separate Electric Meters
- 4 Separate Gas Meters
- 1 Separate Water Meter
- Gardener Expense $1,440
- Insurance Expense $1,204
- Maintenance Expense $2,000
- Trash Expense $250
- Water Sewer Expense $3,350
- New Taxes Expense $17,158
- Operating Expense $25,402
- Gross Income $100,800
- Net Operating Income $72,374
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Closed on
Sep 22, 2020
Sold by
Chen Jason
Bought by
216Egraves Llc
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,065,000
Outstanding Balance
$945,117
Interest Rate
2.9%
Mortgage Type
New Conventional
Estimated Equity
$897,537
Purchase Details
Closed on
Aug 26, 2020
Sold by
216Egraves Llc
Bought by
Chen Jason
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,065,000
Outstanding Balance
$945,117
Interest Rate
2.9%
Mortgage Type
New Conventional
Estimated Equity
$897,537
Purchase Details
Listed on
Oct 19, 2019
Closed on
Jan 28, 2020
Sold by
Chen Jason
Bought by
216Egraves Llc
Seller's Agent
John Mociak
Avenue Realty Group
Buyer's Agent
George Li
eXp Realty of Southern California, Inc.
List Price
$1,395,000
Sold Price
$1,395,000
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
4.67%
Purchase Details
Listed on
Oct 19, 2019
Closed on
Nov 5, 2019
Sold by
Padia Janine and Padia Family Trust
Bought by
Chen Jason
Seller's Agent
John Mociak
Avenue Realty Group
Buyer's Agent
George Li
eXp Realty of Southern California, Inc.
List Price
$1,395,000
Sold Price
$1,395,000
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,046,250
Interest Rate
3.6%
Mortgage Type
New Conventional
Purchase Details
Closed on
May 9, 2019
Sold by
Letizia Clarie
Bought by
Letizia Clarice J and Clarice J Letizia Trust
Purchase Details
Closed on
Dec 5, 2018
Sold by
Padia Janine
Bought by
Padia Janine R and Padia Family Trust
Purchase Details
Closed on
Apr 7, 2012
Sold by
Padia Janine and Letizia Trust
Bought by
Padia Janine and Letizia Clarice
Purchase Details
Closed on
Aug 25, 2003
Sold by
Letizia Joan and The Letizia Trust
Bought by
Letizia Joan and The Letizia Trust
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| 216Egraves Llc | -- | Accommodation | |
| Chen Jason | -- | Westminster Title Company | |
| 216Egraves Llc | -- | Provident Title | |
| Chen Jason | $1,395,000 | Fidelity National Title | |
| Letizia Clarice J | -- | None Available | |
| Padia Janine R | -- | None Available | |
| Padia Janine | -- | None Available | |
| Letizia Joan | -- | -- |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | Chen Jason | $1,065,000 | |
| Previous Owner | Chen Jason | $1,046,250 |
Source: Public Records
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 12/24/2019 12/24/19 | Sold | $1,395,000 | 0.0% | $417 / Sq Ft |
| 10/23/2019 10/23/19 | Pending | -- | -- | -- |
| 10/19/2019 10/19/19 | For Sale | $1,395,000 | -- | $417 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
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 | $20,122 | $1,525,633 | $874,915 | $650,718 |
| 2024 | $20,122 | $1,495,719 | $857,760 | $637,959 |
| 2023 | $19,723 | $1,466,392 | $840,942 | $625,450 |
| 2022 | $18,799 | $1,437,640 | $824,453 | $613,187 |
| 2021 | $18,581 | $1,409,452 | $808,288 | $601,164 |
| 2020 | $18,476 | $1,395,000 | $800,000 | $595,000 |
| 2019 | $2,481 | $109,180 | $33,159 | $76,021 |
| 2018 | $2,239 | $107,040 | $32,509 | $74,531 |
| 2016 | $2,138 | $102,886 | $31,248 | $71,638 |
| 2015 | $2,106 | $101,341 | $30,779 | $70,562 |
| 2014 | $2,109 | $99,357 | $30,177 | $69,180 |
Source: Public Records
Agents Affiliated with this Home
-
-
George Li
Buyer's Agent in 2019
George Li
eXp Realty of Southern California, Inc.
(626) 375-0340
5 in this area
98 Total Sales
-
Celine Juan
C
Buyer Co-Listing Agent in 2019
Celine Juan
eXp Realty of Southern California, Inc.
(626) 584-0048
4 in this area
69 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: SB19247025
APN: 5260-001-011
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Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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