NOT LISTED FOR SALE

Estimated Value: $2,186,000 - $3,230,000

4 Beds
5 Baths
2,402 Sq Ft
$1,075/Sq Ft Est. Value

Last Sold July 08, 2016

Last sale price $1,525,000 $635 Per Sq Ft

Est. 69% increase in value since last sale

Current estimated payment $15,285/month

21 Days on Market

Highlights

  • Ocean View
  • Traditional Architecture
  • Laundry Room
  • Agnes L. Smith Elementary Rated A-
  • No HOA
  • No Interior Steps

About This Home

As of July 2016

Prime location- 3 small houses on a double lot, middle of 2nd block- only 1.5 short blocks to the Beach. Some Ocean View Potential. Rents very low long term tenants. All single story cottages. 2 garage off alley. Driveway off street with 1 car garage. off street spaces for 3 vehicles. Can build 2 Single family Homes on 2 lots.

Last Agent to Sell the Property

Keith Wichner

Seven Gables Real Estate License #00586443 Listed on: 06/10/2016

Seven Gables Real Estate

Last Buyer's Agent

Matt Yucelen

Matt Yucelen, Broker License #01974640

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $20,395

Year Built

  • Built in 1958

Lot Details

  • 5,663 Sq Ft Lot
  • Property fronts an alley
  • No Common Walls
  • Block Wall Fence

Parking

  • 3 Car Garage
  • Parking Available
  • Two Garage Doors
  • Driveway
  • Off-Street Parking

Property Views

  • Ocean
  • Peek-A-Boo

Home Design

  • Traditional Architecture
  • Entry on the 1st floor
  • Block Foundation
  • Slab Foundation
  • Composition Roof
  • Common Roof
  • Wood Siding
  • Partial Copper Plumbing
  • Stucco

Interior Spaces

  • 2,402 Sq Ft Home
  • 1-Story Property
  • Living Room with Fireplace

Kitchen

  • Gas Cooktop
  • Disposal

Flooring

  • Carpet
  • Vinyl

Bedrooms and Bathrooms

  • 4 Bedrooms
  • 5 Bathrooms

Laundry

  • Laundry Room
  • Washer

Home Security

  • Carbon Monoxide Detectors
  • Fire and Smoke Detector

Utilities

  • Forced Air Heating System
  • Wall Furnace
  • Sewer Paid

Additional Features

  • No Interior Steps
  • Exterior Lighting
  • Suburban Location

Listing and Financial Details

  • Tenant pays for cable TV, electricity, gas
  • Tax Lot 17
  • Tax Tract Number 212
  • Assessor Parcel Number 02403315

Community Details

Overview

  • No Home Owners Association
  • 3 Buildings
  • 3 Units

Amenities

  • Laundry Facilities

Building Details

  • 3 Leased Units
  • 3 Separate Electric Meters
  • 3 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $300
  • Insurance Expense $1,400
  • Maintenance Expense $2,402
  • Water Sewer Expense $1,500
  • New Taxes Expense $18,388
  • Gross Income $4,895
  • Net Operating Income $32,690

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$20,395

Year Built

Built in 1958

Lot Details

0

Parking

3

Listing Details

  • CapRate: 2.00
  • Property Attached: No
  • Road Frontage Type: Alley
  • Road Surface Type: Alley Paved
  • Security: Carbon Monoxide Detector(s), Fire and Smoke Detection System
  • Subdivision Name Other: Downtown Area (DOWN)
  • View: Yes
  • Water Sewer Expenses: 1500.00
  • Architectural Style: Traditional
  • Property Type: Residential Income
  • Parcel Number: 02403315
  • Year Built: 1958
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: Yes
  • Interior Amenities: Copper Plumbing Partial
  • Stories: 1
  • Common Walls: No Common Walls
  • Flooring: Carpet, Vinyl
  • Accessibility Features: No Interior Steps
  • Appliances: Yes
  • Entry Level: 1
  • Fireplace Features: Living Room
  • Levels: One
  • Price Per Square Foot: 634.89
  • Room Type: All Bedrooms Down, Main Floor Bedroom, Main Floor Master Bedroom

Exterior Features

  • Foundation: Block, Slab
  • View: Ocean, Peek-A-Boo
  • Fencing: Block
  • Pool Private: No
  • Roof: Composition, Common Roof
  • Spa: No
  • Construction Materials: Stucco, Wood Siding

Garage/Parking

  • Garage Spaces: 3.00
  • Parking: Yes
  • Parking Features: Concrete, Driveway, Garage, Off Street, Garage - Single Door, Garage - Two Door
  • Total Parking Spaces: 12.00

Utilities

  • Utilities: Sewer Connected, Sewer Available, Water Connected
  • Heating: Yes
  • Laundry: Yes
  • Appliances: Disposal, Gas Cooktop
  • Heating Type: Forced Air, Wall Furnace
  • Laundry Features: Community, Gas Dryer Hookup, Individual Room, Washer Hookup, Washer Included
  • Sewer: Sewer Paid
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Sidewalks, Street Lights, Storm Drains, Suburban

Lot Info

  • Land Lease: No
  • Lot Size Sq Ft: 5663.00
  • Price Per Lot Square Foot: 269.29

Rental Info

  • Tenant Pays: Cable TV, Electricity, Gas

Multi Family

  • Average1 Bed Area: 700
  • Average2 Bed Area: 1000
  • Electric Expense: 300.00
  • Gross Income: 4895.00
  • Gross Multiplier: 27.00
  • Gross Scheduled Income: 58740.00
  • Insurance Expense: 1400.00
  • Maintenance Expense: 2402.00
  • Maintenance Percent: 5.00
  • Net Operating Income: 32690.00
  • Number Of Separate Electric Meters: 3
  • Number Of Separate Gas Meters: 3
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 3
  • Number Of Units Total: 3
  • Number With Carpet: 3
  • Number With Drapes: 3
  • Number With Range: 3
  • Operating Expense: 24875.00
  • Operating Expense Percent: 42.00
  • Rent Control: No
  • Total Actual Rent: 4895.00
  • Vacancy Allowance Rate: 2.00

Tax Info

  • New Taxes Expense: 18388.00
  • Tax Lot: 17
  • Tax Tract Number: 00212

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jun 10, 2016
Closed on
Jun 16, 2016
Sold by
The Wichner Family Trust
Bought by
Yucelen Matt Y
Seller's Agent
Keith Wichner
Seven Gables Real Estate
Buyer's Agent
Matt Yucelen
Matt Yucelen, Broker
List Price
$1,599,000
Sold Price
$1,525,000
Premium/Discount to List
-$74,000
-4.63%
Current Estimated Value
$2,582,567

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$1,057,567
Avg. Annual Appreciation
5.82%
Source: Public Records

Range of Values:

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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
Yucelen Matt Y $1,525,000 Usa National Title Co
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
07/08/2016 07/08/16 Sold $1,525,000 -4.6% $635 / Sq Ft
06/10/2016 06/10/16 For Sale $1,599,000 -- $666 / 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 $20,395 $1,831,751 $1,680,914 $150,837
2024 $20,395 $1,777,255 $1,647,955 $129,300
2023 $19,487 $1,701,166 $1,615,642 $85,524
2022 $18,978 $1,667,810 $1,583,962 $83,848
2021 $18,627 $1,635,108 $1,552,904 $82,204
2020 $18,506 $1,618,342 $1,536,980 $81,362
2019 $18,286 $1,586,610 $1,506,843 $79,767
2018 $18,004 $1,555,500 $1,477,297 $78,203
2017 $17,766 $1,525,000 $1,448,330 $76,670
2016 $1,611 $82,474 $45,609 $36,865
2015 $1,592 $81,236 $44,924 $36,312
2014 $1,559 $79,645 $44,044 $35,601
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: OC16126415

California Regional Multiple Listing Service (CRMLS)

APN: 024-033-15