NOT LISTED FOR SALE
10 Beds
10 Baths
9,200 Sq Ft
0.34 Acres

Last Sold November 13, 2015

Last sale price $2,500,000 $272 Per Sq Ft

30 Days on Market

Highlights

  • 0.34 Acre Lot
  • Traditional Architecture
  • Laundry Room
  • Lincoln Elementary School Rated A+
  • 10 Car Direct Access Garage
  • 2-minute walk to Anderson Park

About This Home

As of November 2015

Trophy Income Investment Property located in prime Redondo Beach minutes from ocean and freeways. Located directly across the street from Anderson Park, this property has never been on the market and was built by present owners. 2219 Farrell Avenue is a 5 unit property consisting of one building (9,200 sf) on a 14,994 sf lot. All units are tri-level, 2 bedroom plus bonus room, 2.5 bathroom townhouse style with attached 2 car garage and direct access to unit. All of the units are in great condition. Units come with a fireplace in the living room, laundry hookups, and a spacious enclosed entry patio. Tenants are on month-to-month agreements allowing for instant upside potential in rents on all units. This is truly a pride of ownership property. Owners are liquidating, no 1031 tax deferred exchange contingency needed!

Last Agent to Sell the Property

Sean Rodriguez

Estate Properties License #00938328 Listed on: 09/14/2015

Co-Listed By

Jonathan Rodriguez

Estate Properties License #00946916

Last Buyer's Agent

Tyler Wolf

Compass License #01426713

Compass

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1984

Lot Details

  • 0.34 Acre Lot
  • 1 Common Wall

Parking

  • 10 Car Direct Access Garage
  • Parking Available
  • Two Garage Doors

Home Design

  • Traditional Architecture
  • Property Attached

Interior Spaces

  • 9,200 Sq Ft Home
  • Gas Fireplace
  • Living Room with Fireplace
  • Laundry Room

Bedrooms and Bathrooms

  • 10 Bedrooms
  • 10 Bathrooms

Utilities

  • Forced Air Heating System

Listing and Financial Details

  • Tenant pays for cable TV, electricity, gas
  • Tax Lot 1
  • Tax Tract Number 37184
  • Assessor Parcel Number 4150016044

Community Details

Building Details

  • 5 Leased Units
  • 6 Separate Electric Meters
  • 5 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $580
  • Gardener Expense $2,640
  • Insurance Expense $5,020
  • Maintenance Expense $4,000
  • Other Expense $414
  • Pest Control $660
  • Trash Expense $1,819
  • Water Sewer Expense $3,474
  • New Taxes Expense $31,889
  • Gross Income $10,700
  • Net Operating Income $74,539

Additional Features

  • 5 Units
  • Laundry Facilities

Property Details

Home Type

Multi-Family

Year Built

Built in 1984

Lot Details

0

Parking

10

Listing Details

  • Assessments: Yes
  • CapRate: 2.57
  • Price Per Unit: 579800
  • Property Attached: Yes
  • Water Sewer Expenses: 3474.00
  • Architectural Style: Traditional
  • Property Type: Residential Income
  • Gardener Expense: 2640.00
  • Parcel Number: 4150016044
  • Year Built: 1984
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: Yes
  • Common Walls: 1 Common Wall
  • Fireplace Features: Gas, Living Room
  • Levels: Three Or More
  • Price Per Square Foot: 271.74

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 10.00
  • Parking: Yes
  • Parking Features: Direct Garage Access, Garage, Garage - Two Door
  • Total Parking Spaces: 20.00

Utilities

  • Utilities: Sewer Connected, Sewer Available
  • Heating: Yes
  • Laundry: Yes
  • Heating Type: Forced Air
  • Laundry Features: Common Area
  • Pest Control Expense: 660.00
  • Trash Expense: 1819.00
  • Water Source: Public

Condo/Co-op/Association

  • Community Features: Sidewalks

Lot Info

  • Lot Features: Lot 10000-19999 Sqft
  • Lot Size Sq Ft: 14994.00
  • Price Per Lot Square Foot: 166.73
  • Lot Size Acres: 0.3440

Rental Info

  • Tenant Pays: Cable TV, Electricity, Gas

Multi Family

  • Average2 Bed Area: 1840
  • Electric Expense: 580.00
  • Gross Income: 10700.00
  • Gross Scheduled Income: 128400.00
  • Insurance Expense: 5020.00
  • Lot Size Area: 14994.0000 Square Feet
  • Maintenance Expense: 4000.00
  • Net Operating Income: 74539.00
  • Number Of Separate Electric Meters: 6
  • Number Of Separate Gas Meters: 5
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 5
  • Number Of Units Total: 5
  • Operating Expense: 50651.00
  • Operating Expense Percent: 39.40
  • Other Expense: 414.00
  • Rent Control: No
  • Total Actual Rent: 10700.00
  • Vacancy Allowance: 3210
  • Vacancy Allowance Rate: 2.50

Tax Info

  • New Taxes Expense: 31889.00
  • Tax Lot: 1
  • Tax Tract Number: 37184

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
11/13/2015 11/13/15 Sold $2,500,000 -13.8% $272 / Sq Ft
10/14/2015 10/14/15 Pending -- -- --
09/14/2015 09/14/15 For Sale $2,899,000 -- $315 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PV15204471

California Regional Multiple Listing Service (CRMLS)