NOT LISTED FOR SALE
13 Beds
10 Baths
8,372 Sq Ft
9,038 Sq Ft Lot

Sale Details

Date Sold: December 29, 2017

Last sale price $4,030,000 $481 Per Sq Ft

5 Days on Market

Highlights

  • Fitness Center
  • Spanish Architecture
  • Neighborhood Views
  • Ocean Side of Freeway
  • No HOA
  • Meeting Room

About This Home

As of December 2017

We have a truly beautiful BEACH Investment Property now available! Come and Discover with your valued Clients our gorgeous 225 S. Ditmar St., Oceanside Development- a 12 Unit Apartment Complex with a Unit mix of 8 Units (1 bedroom 1 bathroom) AND 4 Units (2 bedroom 1 bathroom). 10 of the 12 Units are COMPLETELY REMODELED!! New Kitchens with Quartz Countertops & Tile Backsplashes, New Kitchen Cabinets, New Stainless Steel Refrigerators, New Stainless Steel Gas Stoves, New LED Recessed Lighting, New Flooring and New Base Molding, New Bathrooms, New Toilets & New Bathtubs with New Tile to the Ceiling, New Bathroom Vanities with Quartz Counters and sink, New Air Conditioners, and 2 Flat Panel 55” Ultra High Definition 4K TV’s mounted in the Living Room and in 1 bedroom of EACH Unit! We have 16 HD Security cameras throughout the complex which you can view on your Phone & playback video. There are also 10 ENCLOSED Garages that are all Newly Painted, New Garage Door Openers, LED Lights (2 of the 10 Garages have been converted to use as a GYM with High End NEW Equipment and the other Garage as an Lounge/Office.) Each Unit has a KEYLESS Lock that is Programmable (so no more keys!) We also have on-site laundry. Electricity and gas is individually metered. This property is an IDEAL opportunity to own a straightforward Multifamily investment. The property is walking distance to nearby Excellent Dining, shopping, groceries, and is a few minute WALK to the Pier and the BEACH! Come and See!

Last Agent to Sell the Property

Ryan Oca

Keller Williams Realty License #01491055 Listed on: 12/02/2017

Keller Williams Realty

Co-Listed By

Louis Baker

Ryan Baker, Broker License #01510300

Last Buyer's Agent

Scott Hamilton

Engel & Völkers Long Beach License #01125930

Engel & Völkers Long Beach

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1970 | Remodeled

Lot Details

  • 9,038 Sq Ft Lot
  • Two or More Common Walls
  • Wrought Iron Fence
  • Density is 11-15 Units/Acre

Parking

  • 10 Car Garage
  • 3 Open Parking Spaces
  • Parking Available
  • Front Facing Garage
  • Rear-Facing Garage
  • Single Garage Door
  • Assigned Parking

Home Design

  • Spanish Architecture
  • Apartment
  • Flat Roof Shape
  • Slab Foundation
  • Wood Siding
  • Stucco

Interior Spaces

  • 8,372 Sq Ft Home
  • Ceiling Fan
  • Laminate Flooring
  • Neighborhood Views
  • Home Security System

Kitchen

  • Gas Cooktop
  • Free-Standing Range
  • Disposal

Bedrooms and Bathrooms

  • 13 Bedrooms
  • 10 Bathrooms

Laundry

  • Laundry in unit
  • Gas And Electric Dryer Hookup

Outdoor Features

  • Ocean Side of Freeway
  • Exterior Lighting

Location

  • Suburban Location

Utilities

  • Cooling System Mounted To A Wall/Window
  • Wall Furnace
  • Sewer Paid

Listing and Financial Details

  • Tenant pays for cable TV, electricity, telephone
  • Legal Lot and Block 5&6 / 3
  • Tax Tract Number 219
  • Assessor Parcel Number 1500522000

Community Details

Overview

  • No Home Owners Association
  • 12 Units

Amenities

  • Meeting Room
  • Laundry Facilities

Recreation

  • Fitness Center

Building Details

  • 12 Leased Units
  • 13 Separate Electric Meters
  • 13 Separate Gas Meters
  • 1 Separate Water Meter
  • Operating Expense $88,620
  • Gross Income $253,200
  • Net Operating Income $160,782

Property Details

Home Type

Multi-Family

Year Built

Built in 1970 | Remodeled

Lot Details

9,038 Sq Ft Lot

Parking

10

Listing Details

  • CapRate: 4.00
  • Property Attached: Yes
  • Road Frontage Type: City Street
  • Road Surface Type: Maintained, Paved
  • Security: Security System
  • View: Yes
  • Zoning: R3
  • Architectural Style: Spanish
  • Property Condition: Updated/Remodeled
  • Property Sub Type: Apartment
  • Property Type: Residential Income
  • Parcel Number: 1500522000
  • Year Built: 1970
  • Special Features: None

Interior Features

  • Interior Amenities: Ceiling Fan(s)
  • Common Walls: 2+ Common Walls
  • Flooring: Laminate
  • Appliances: Yes
  • Levels: Two
  • Price Per Square Foot: 481.37

Exterior Features

  • Foundation: Slab
  • View: Neighborhood
  • Fence: Yes
  • Fencing: Wrought Iron
  • Pool Private: No
  • Roof: Flat
  • Spa: No
  • Construction Materials: Stucco, Wood Siding

Garage/Parking

  • Garage Spaces: 10.00
  • Parking: Yes
  • Parking Features: Assigned, Garage Faces Front, Garage Faces Rear, Garage - Single Door
  • Total Parking Spaces: 13.00
  • Uncovered Spaces: 3.00

Utilities

  • Utilities: Electricity Connected, Sewer Connected, Water Connected
  • Heating: Yes
  • Laundry: Yes
  • Appliances: Free-Standing Range, Disposal, Gas Range, Gas Cooktop
  • Electric: Standard
  • Heating Type: Wall Furnace
  • Laundry Features: Community, Gas & Electric Dryer Hookup
  • Sewer: Sewer Paid
  • Water Source: Public
  • Cooling: Wall/Window Unit(s)
  • Cooling: Yes

Condo/Co-op/Association

  • Association: No
  • Amenities: Gym/Ex Room, Meeting Room
  • Senior Community: No
  • Community Features: Sidewalks, Street Lights, Suburban

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 11-15 Units/Acre
  • Lot Size Sq Ft: 9038.00

Rental Info

  • Tenant Pays: Cable TV, Electricity, Telephone

Multi Family

  • Gross Income: 253200.00
  • Gross Operating Income: 158523.00
  • Gross Scheduled Income: 253200.00
  • Net Operating Income: 160782.00
  • Number Of Separate Electric Meters: 13
  • Number Of Separate Gas Meters: 13
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 12
  • Number Of Units Total: 12
  • Operating Expense: 92418.00
  • Other Income Description: Pro Forma Rents 176280
  • Rent Control: No
  • Total Actual Rent: 21100.00
  • Total Expenses: 88620.00
  • Waterfront Features: Ocean Side of Freeway

Tax Info

  • Tax Block: 3
  • Tax Census Tract: 184.00
  • Tax Lot: 5&6
  • Tax Tract Number: 219

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

Listed on
Dec 2, 2017
Closed on
Dec 10, 2017
Sold by
Bought by
Seller's Agent
Ryan Oca
Keller Williams Realty
Buyer's Agent
Scott Hamilton
Engel & Völkers Long Beach
List Price
$3,980,880
Sold Price
$4,030,000
Premium/Discount to List
$49,120
1.23%

Purchase Details

Listed on
Sep 10, 2015
Closed on
Sep 24, 2015
Sold by
Bought by
Seller's Agent
Joshua Cohen
Keller Williams Realty
Buyer's Agent
Amy Sessner
Jason Mitchell Real Estate California, Inc.
List Price
$2,500,000
Sold Price
$2,500,000

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
24.74%
Original Mortgage
$1,500,000
Interest Rate
0.0387%
Mortgage Type
Commercial

Purchase Details

Closed on
Jul 25, 2005
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
$775,000
Interest Rate
0.0556%
Mortgage Type
Commercial

Purchase Details

Closed on
Jul 11, 2005
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
$775,000
Interest Rate
0.0556%
Mortgage Type
Commercial

Purchase Details

Closed on
Mar 30, 1999
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
$445,000
Interest Rate
0.0692%
Mortgage Type
Commercial

Purchase Details

Closed on
Oct 25, 1995
Sold by
Bought by
Source: Public Records
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

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
$4,030,000 Stewart Title
$2,500,000 Ticor Title Company Of Ca
-- First American Title Ins Co
$1,650,000 First American Title Ins Co
$650,000 American Title Company
-- First American 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
Previous Owner $1,700,000
Previous Owner $1,500,000
Previous Owner $925,000
Previous Owner $775,000
Previous Owner $445,000
Previous Owner $65,000
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 Prior Sale
12/29/2017 12/29/17 Sold $4,030,000 +1.2% $481 / Sq Ft
12/07/2017 12/07/17 Pending -- -- --
12/02/2017 12/02/17 For Sale $3,980,880 +59.2% $475 / Sq Ft
11/03/2015 11/03/15 Sold $2,500,000 0.0% $299 / Sq Ft View Prior Sale
09/17/2015 09/17/15 Pending -- -- --
09/10/2015 09/10/15 For Sale $2,500,000 -- $299 / 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 $51,131 $4,649,301 $3,713,873 $935,428
2025 $51,131 $4,558,139 $3,641,052 $917,087
2024 $50,157 $4,468,764 $3,569,659 $899,105
2023 $48,612 $4,381,142 $3,499,666 $881,476
2022 $47,878 $4,295,239 $3,431,046 $864,193
2021 $48,067 $4,211,020 $3,363,771 $847,249
2020 $46,576 $4,167,842 $3,329,280 $838,562
2019 $45,220 $4,086,120 $3,264,000 $822,120
2018 $44,741 $4,006,000 $3,200,000 $806,000
2017 $28,577 $2,550,000 $1,938,000 $612,000
2016 $27,650 $2,500,000 $1,900,000 $600,000
2015 $17,498 $1,600,000 $721,000 $879,000
2014 $14,714 $1,370,000 $618,000 $752,000
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: OC17266538

California Regional Multiple Listing Service (CRMLS)

APN: 150-052-20-00

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