NOT LISTED FOR SALE

220 Paramount Dr Millbrae, CA 94030

Green Hills Neighborhood

Estimated Value: $1,956,000 - $2,500,219

4 Beds
4 Baths
2,664 Sq Ft
$835/Sq Ft Est. Value

Last Sold June 19, 2015

Last sale price $1,660,000 $623 Per Sq Ft

Est. 34% increase in value since last sale

Current estimated payment $13,944/month

20 Days on Market

About This Home

As of June 2015

This property has location, location, location. This is a very rare West of El Camino Real, Millbrae fourplex offering. Been in the same family for 30 + years. Low rents--tremendous upside potential. Separate utilities including sep water meters allow for lower operating expenses. Excellent rental market due access to good schools, shops, restaurants, movie theatres, public transportation and I-280, I-380, Hwy 101--to get to San Francisco or Silicon Valley (Santa Clara County).

Last Agent to Sell the Property

Cameron Foster

Cameron Foster License #00972394 Listed on: 04/29/2015

Cameron Foster

Last Buyer's Agent

Cameron Foster

Cameron Foster License #00972394 Listed on: 04/29/2015

Cameron Foster

Property Details

Home Type

  • Multi-Family

Year Built

  • 1953

Lot Details

  • 5,227 Sq Ft Lot

Parking

  • 4 Carport Spaces

Home Design

  • Quadruplex
  • Composition Roof

Interior Spaces

  • 2,664 Sq Ft Home
  • 2-Story Property

Listing and Financial Details

  • Total Actual Rent $51,180

Community Details

Overview

Building Details

  • 4 Leased Units
  • Gardener Expense $960
  • Insurance Expense $1,871
  • Maintenance Expense $3,000
  • Other Expense $250
  • Utility Expense $3,926
  • Trash Expense $664
  • Operating Expense $30,554
  • Gross Income $51,528

Property Details

Home Type

Multi-Family

Year Built

1953

Lot Details

0

Listing Details

  • Zoning: 04
  • Subclass: Fourplex
  • Listing Class: Residential Income (2-4 Units)
  • Structure Sq Ft: 2664
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Year Built: 1953

Interior Features

  • Living Sq Ft: 2664
  • Stories: 2

Exterior Features

  • Roof: Composition

Garage/Parking

  • Garage Parking Features: Carport
  • Carport Min: 4

Utilities

  • Sewer/Septic System: Sewer Available At Site

Lot Info

  • Lot Acres: 0.1200
  • Lot Size Area Minimum Units: Square Feet
  • Minimum Lot Size: 5225.00
  • Lot Size Area Maximum Units: Square Feet
  • Maximum Lot Size: 5225.00

Rental Info

  • Existing Lease Term(s): Less Than 1 Yr, Month To Month
  • Gross Rent Multiplier: 33.62
  • Number Of Leased: 4

Multi Family

  • Expense Insurance: 1871
  • Expense Landscape: 960
  • Expense Maintenance: 3000
  • Expenses Other: 250
  • Expenses Total: 30554
  • Expenses Utility: 3926
  • Expense Trash: 664
  • Income Annual Gross: 51528.00
  • Income Annual Rental: 51180
  • Income Gross Scheduled: 52580
  • Income Includes: Laundry
  • Income Other: 1400
  • Meters: Separate Electric, Separate Gas, Separate Water
  • Number Of Buildings: 1
  • Operating Expenses Include: Fee - Property Tax, Insurance, Maintenance - Laundry, Maintenance - Repair, Miscellaneous/Other, Services - Gardener, Services - Sewer, Services - Trash Removal, Utilities, Vacancy Factor
  • Tenant Expenses: Utilities - Electric, Utilities - Gas
  • Vacancy Factor: 2

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Apr 29, 2015
Closed on
Jun 15, 2015
Sold by
Ratto Dorothy
Bought by
Lee Malcolm and Lee Shu May
Seller's Agent
Cameron Foster
Cameron Foster
Buyer's Agent
Cameron Foster
Cameron Foster
List Price
$1,768,000
Sold Price
$1,660,000
Premium/Discount to List
-$108,000
-6.11%
Current Estimated Value
$2,223,305

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$563,305
Avg. Annual Appreciation
2.80%
Original Mortgage
$1,079,000
Outstanding Balance
$814,308
Interest Rate
3.05%
Mortgage Type
Adjustable Rate Mortgage/ARM
Estimated Equity
$1,408,997

Purchase Details

Closed on
Feb 19, 2015
Sold by
Ratto Dorothy
Bought by
Ratto Dorothy

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$680,000
Interest Rate
3.61%
Mortgage Type
Seller Take Back

Purchase Details

Closed on
Sep 24, 1993
Sold by
Ratto Paul and Ratto Dorothy
Bought by
Ratto Paul and Ratto Dorothy
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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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
Lee Malcolm $1,660,000 First American Title Company
Ratto Dorothy -- Fidelity National Title
Ratto Paul -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Lee Malcolm $1,079,000
Previous Owner Ratto Dorothy $680,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
06/19/2015 06/19/15 Sold $1,660,000 -6.1% $623 / Sq Ft
05/19/2015 05/19/15 Pending -- -- --
04/29/2015 04/29/15 For Sale $1,768,000 -- $664 / Sq Ft
Source: MLSListings

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 $27,818 $1,995,062 $997,531 $997,531
2023 $27,818 $1,917,594 $958,797 $958,797
2022 $21,578 $1,879,996 $939,998 $939,998
2021 $21,337 $1,843,134 $921,567 $921,567
2020 $20,992 $1,824,236 $912,118 $912,118
2019 $20,499 $1,788,468 $894,234 $894,234
2018 $20,100 $1,753,400 $876,700 $876,700
2017 $19,711 $1,719,020 $859,510 $859,510
2016 $19,469 $1,685,314 $842,657 $842,657
2015 $4,724 $367,471 $73,482 $293,989
2014 $4,628 $360,274 $72,043 $288,231
Source: Public Records

Agents Affiliated with this Home

  • C

    Seller's Agent in 2015

    Cameron Foster

    Cameron Foster

    (650) 548-9660

    37 Total Sales

    Cameron Foster
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Map

Source: MLSListings

MLS Number: ML81462728

MLSListings

APN: 021-275-100

California San Mateo County Millbrae 94030 Green Hills

220 Paramount Dr, Millbrae, CA

Not Listed for Sale

MultiFamily

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