NOT LISTED FOR SALE

Estimated Value: $208,000 - $609,000

1 Bed
1 Bath
4,400 Sq Ft
$90/Sq Ft Est. Value

Sale Details

Date Sold: May 29, 2015

Last sale price $540,000 $123 Per Sq Ft

Est. 27% decrease in value since last sale

Current estimated payment $2,444 / mo

135 Days on Market

About This Home

As of May 2015

This property is located within walking distance to "The Blvd" located in downtown Lancaster. A premiere destination for cinemas, performing arts, farmer's market, specialty stores and more, your tenants will enjoy the ease and convenience of living so close to entertainment. "The Blvd" also includes personal and professional services including yoga, salons and fitness. This is a large, 13,400+ sq. ft. location on 2 lots with great development potential.

This listing includes 217 w. Lancaster Blvd. This is 2 lots for sale together.

Last Agent to Sell the Property

Howard Hanes

No Firm Affiliation License #00282754 Listed on: 01/14/2015

Last Buyer's Agent

Howard Hanes

No Firm Affiliation License #00282754 Listed on: 01/14/2015

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
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List Price
Sold Price
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Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1940

Lot Details

  • 13,415 Sq Ft Lot
  • Two or More Common Walls
  • Level Lot
  • Density is 6-10 Units/Acre

Parking

  • 10 Parking Spaces

Home Design

  • 4,400 Sq Ft Home
  • Property Attached

Bedrooms and Bathrooms

  • 1 Bedroom
  • 1 Bathroom

Location

  • Suburban Location

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Legal Lot and Block 4 / 11
  • Tax Tract Number 2092
  • Assessor Parcel Number 3138013016

Community Details

Overview

  • 2 Buildings
  • 10 Units

Building Details

  • 10 Separate Electric Meters
  • 10 Separate Gas Meters
  • Insurance Expense $1,756
  • Maintenance Expense $4,520
  • Other Expense $1,200
  • Pest Control $960
  • Professional Management Expense $3,013
  • Trash Expense $2,556
  • Water Sewer Expense $973
  • New Taxes Expense $11,673
  • Gross Income $5,400
  • Net Operating Income $33,514

Property Details

Home Type

Multi-Family

Year Built

Built in 1940

Lot Details

0.31 Acres

Listing Details

  • CapRate: 5.83
  • Professional Management Expense: 3013.00
  • Property Attached: Yes
  • Water Sewer Expenses: 973.00
  • Property Type: Residential Income
  • Parcel Number: 3138013016
  • Year Built: 1940
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: 2+ Common Walls
  • Levels: One
  • Price Per Square Foot: 122.73

Exterior Features

  • Pool Private: No

Garage/Parking

  • Total Parking Spaces: 10.00

Utilities

  • Utilities: Sewer Available
  • Pest Control Expense: 960.00
  • Trash Expense: 2556.00
  • Water Source: Public

Condo/Co-op/Association

  • Community Features: Suburban

Lot Info

  • Lot Features: 6-10 Units/Acre, Level, Lot 10000-19999 Sqft
  • Lot Size Sq Ft: 13415.00
  • Lot Size Acres: 0.3080

Rental Info

  • Tenant Pays: Electricity, Gas

Multi Family

  • Average1 Bed Area: 425
  • Gross Income: 5400.00
  • Gross Multiplier: 8.87
  • Gross Scheduled Income: 64800.00
  • Insurance Expense: 1756.00
  • Lot Size Area: 13415.0000 Square Feet
  • Maintenance Expense: 4520.00
  • Maintenance Percent: 7.50
  • Net Operating Income: 33514.00
  • Number Of Separate Electric Meters: 10
  • Number Of Separate Gas Meters: 10
  • Number Of Units Total: 10
  • Operating Expense: 26751.00
  • Operating Expense Percent: 41.30
  • Other Expense: 1200.00
  • Other Expense Description: Lndscp
  • Rent Control: No
  • Vacancy Allowance Rate: 7.00

Tax Info

  • New Taxes Expense: 11673.00
  • Tax Block: 11
  • Taxes Percent: 18.00
  • Tax Lot: 4
  • Tax Tract Number: 2092
  • Tax Year: 2014

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

Closed on
Feb 6, 2019
Sold by
Bought by
Current Estimated Value
$395,049

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$14,472,000
Outstanding Balance
$12,434,091
Interest Rate
4.4%
Mortgage Type
Commercial
Estimated Equity
-$12,039,042

Purchase Details

Closed on
Jun 14, 2016
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
$431,250
Interest Rate
3.57%
Mortgage Type
Commercial

Purchase Details

Listed on
Jan 14, 2015
Closed on
Apr 16, 2015
Sold by
Bought by
Seller's Agent
Howard Hanes
No Firm Affiliation
Buyer's Agent
Howard Hanes
No Firm Affiliation
List Price
$575,000
Sold Price
$540,000
Premium/Discount to List
-$35,000
-6.09%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
-2.74%
Original Mortgage
$540,000
Interest Rate
3.64%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Aug 12, 2004
Sold by
Bought by

Purchase Details

Closed on
Jan 15, 2004
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
$245,000
Interest Rate
5.85%
Mortgage Type
Purchase Money Mortgage
Source: Public Records

Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Agents Specializing in Central Lancaster, 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
-- Pacific Coast Title Co
-- Ticor Title
$540,000 Lawyers Title Company
-- --
$350,000 Lawyers Title
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
Open $1,065,000
Open $8,223,800
Open $14,472,000
Previous Owner $431,250
Previous Owner $540,000
Previous Owner $245,000
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
05/29/2015 05/29/15 Sold $540,000 -6.1% $123 / Sq Ft
05/29/2015 05/29/15 Pending -- -- --
01/14/2015 01/14/15 For Sale $575,000 -- $131 / 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
2026 $3,324 $191,148 $37,545 $153,603
2025 $3,324 $187,401 $36,809 $150,592
2024 $3,207 $183,728 $36,088 $147,640
2023 $3,154 $180,127 $35,381 $144,746
2022 $3,107 $176,596 $34,688 $141,908
2021 $3,069 $173,134 $34,008 $139,126
2020 $3,038 $162,362 $43,837 $118,525
2019 $2,887 $159,179 $42,978 $116,201
2018 $2,842 $156,059 $42,136 $113,923
2016 $2,744 $152,286 $41,117 $111,169
2015 $2,343 $118,291 $41,400 $76,891
2014 $2,351 $115,975 $40,590 $75,385
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: SR15008831

California Regional Multiple Listing Service (CRMLS)

APN: 3138-013-016

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