NOT LISTED FOR SALE

Estimated Value: $1,728,000 - $2,398,005

4 Beds
3 Baths
2,902 Sq Ft
$742/Sq Ft Est. Value

Last Sold August 03, 2018

Last sale price $1,785,000 $615 Per Sq Ft

Est. 21% increase in value since last sale

Current estimated payment $13,138/month

9 Days on Market

Highlights

  • Granite Countertops
  • No HOA
  • Living Room
  • Washington Elementary School Rated A+
  • Double Pane Windows
  • Laundry Room

About This Home

As of August 2018

Rare opportunity to buy a turnkey triplex in a great location, where all 3 units have been extensively upgraded and where the property is in excellent condition! Property consists of a detached house at the front, a townhouse-style duplex in the middle, & 5-car garage at the rear. Front house has: 2 bedrooms, 1 full Jack-and-Jill bathroom, laundry room, new kitchen (quality cabinets, granite slab counters, stainless appliances including range/microwave hood/dishwasher/refrigerator, built-in dining counter), new 8’ mirrored closet doors in both bedrooms, new electrical wall heater, private front & rear yards with artificial turf & drought tolerant plants! Both units, #B & #C, have 2 bedrooms, 1 full bathroom upstairs (remodeled) + ½ bathroom downstairs (remodeled), laundry in the kitchen with stainless front load washer & dryer, new kitchen (quality cabinets, quartz slab counters, stainless appliances including range/microwave hood/refrigerator/large sink & faucet), vinyl fencing, private patio with gas BBQ hook-up, unit #B also has a big yard with artificial turf & planters! All units have new electrical wiring (excluding upstairs of #C), LED lighting, switches & outlets & GFIC’s, Luxury Vinyl Plank faux-wood flooring thruout + new baseboard molding & trim (excluding upstairs of #C), smooth ceilings, newer paint inside & out, wired for internet, new 2” vinyl window blinds. 5 private single-car garages with roll-up doors. Gutters & drainage. Solid tenants with actual rents!

Last Agent to Sell the Property

Karen Lucas

Estate Properties License #01049036 Listed on: 06/14/2018

Estate Properties

Last Buyer's Agent

NoEmail NoEmail

None MRML License #N/A

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $21,245

Year Built

  • Built in 1939

Lot Details

  • 7,493 Sq Ft Lot
  • 1 Common Wall
  • South Facing Home
  • Vinyl Fence
  • Wood Fence
  • Level Lot
  • Front Yard Sprinklers
  • Sprinklers on Timer
  • Back Yard

Parking

  • 5 Car Garage
  • Parking Available
  • Assigned Parking

Home Design

  • Triplex
  • Bungalow
  • Flat Roof Shape
  • Slab Foundation
  • Composition Roof
  • Concrete Perimeter Foundation
  • Copper Plumbing
  • Stucco

Interior Spaces

  • 2,902 Sq Ft Home
  • 2-Story Property
  • Double Pane Windows
  • Awning
  • Blinds
  • Insulated Doors
  • Living Room
  • Vinyl Flooring

Kitchen

  • Convection Oven
  • Gas Range
  • Range Hood
  • Microwave
  • Granite Countertops
  • Disposal

Bedrooms and Bathrooms

  • 4 Bedrooms
  • 3 Bathrooms

Laundry

  • Laundry Room
  • Laundry in Kitchen
  • Gas Dryer Hookup

Home Security

  • Carbon Monoxide Detectors
  • Fire and Smoke Detector

Outdoor Features

  • Rain Gutters

Utilities

  • Heating System Uses Natural Gas
  • Gas Water Heater
  • Cable TV Available

Listing and Financial Details

  • Tenant pays for cable TV, electricity, gas
  • Assessor Parcel Number 4157030015

Community Details

Overview

  • No Home Owners Association
  • 3 Buildings
  • 3 Units

Building Details

  • 3 Leased Units
  • 3 Separate Electric Meters
  • 3 Separate Gas Meters
  • 1 Separate Water Meter
  • Gardener Expense $720
  • Insurance Expense $950
  • Maintenance Expense $1,200
  • Water Sewer Expense $660
  • New Taxes Expense $22,812
  • Operating Expense $26,492
  • Gross Income $91,200
  • Net Operating Income $63,796

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$21,245

Year Built

Built in 1939

Lot Details

0

Parking

5

Listing Details

  • CapRate: 3.50
  • Price Per Unit: 608333
  • Property Attached: Yes
  • Road Surface Type: Paved
  • Security: Carbon Monoxide Detector(s), Smoke Detector(s)
  • View: No
  • Water Sewer Expenses: 660.00
  • Architectural Style: Bungalow
  • Property Sub Type: Triplex
  • Property Type: Residential Income
  • Gardener Expense: 720.00
  • Parcel Number: 4157030015
  • Year Built: 1939
  • Special Features: None

Interior Features

  • Fireplace: No
  • Interior Amenities: Copper Plumbing Full, Granite Counters
  • Stories: 2
  • Common Walls: 1 Common Wall
  • Flooring: Vinyl
  • Appliances: Yes
  • Door Features: Insulated Doors
  • Levels: Two
  • Price Per Square Foot: 615.09
  • Room Type: Kitchen, Living Room
  • Window Features: Blinds, Double Pane Windows

Exterior Features

  • Direction Faces: South
  • Foundation: Concrete Perimeter, Slab
  • Exterior Features: Awning(s), Rain Gutters
  • Fence: Yes
  • Fencing: Vinyl, Wood
  • Pool Private: No
  • Roof: Composition, Flat
  • Construction Materials: Stucco

Garage/Parking

  • Garage Spaces: 5.00
  • Parking: Yes
  • Parking Features: Assigned
  • Total Parking Spaces: 5.00

Utilities

  • Utilities: Cable Available, Electricity Available, Natural Gas Available, Phone Connected
  • Heating: Yes
  • Laundry: Yes
  • Appliances: Convection Oven, Disposal, Gas Range, Gas Water Heater, Microwave, Range Hood, Refrigerator
  • Electric: Standard
  • Heating Type: Electric, Natural Gas
  • Laundry Features: Gas Dryer Hookup, In Kitchen, Inside
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Curbs

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Back Yard, Level with Street, Sprinklers In Front, Sprinklers Timer
  • Lot Size Sq Ft: 7493.00

Rental Info

  • Tenant Pays: Cable TV, Electricity, Gas

Multi Family

  • Average2 Bed Area: 967 Square Feet
  • Gross Income: 91200.00
  • Gross Multiplier: 20.01
  • Gross Operating Income: 90288.00
  • Gross Scheduled Income: 91200.00
  • Insurance Expense: 950.00
  • Laundry Equipment Own Lease: Own
  • Maintenance Expense: 1200.00
  • Net Operating Income: 63796.00
  • 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 Dishwasher: 1
  • Number With Disposal: 3
  • Number With Patio: 3
  • Number With Range: 3
  • Number With Refrigerator: 3
  • Operating Expense: 26492.00
  • Operating Expense Percent: 29.00
  • Other Income Description: washer dryer NOT owned in #A
  • Rent Control: No
  • Total Actual Rent: 7600.00
  • Total Expenses: 26492.00
  • Vacancy Allowance: 912
  • Vacancy Allowance Rate: 1.00

Tax Info

  • New Taxes Expense: 22812.00
  • Tax Lot: 000
  • Tax Tract Number: 0000

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Mar 27, 2015
Sold by
Lucas Norman G and Lucas Karen J
Bought by
Lucas Family Trust
Current Estimated Value
$2,152,751

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$645,300
Interest Rate
3.7%
Mortgage Type
New Conventional

Purchase Details

Listed on
Aug 27, 2014
Closed on
Sep 4, 2014
Sold by
Klein Elizabeth A and The Elizabeth A Klein Living T
Bought by
Lucas Norman G and Lucas Karen J
Seller's Agent
Maggie ONeil
Beach City Brokers
Buyer's Agent
Karen Lucas
Estate Properties
List Price
$1,125,000
Sold Price
$1,135,000
Premium/Discount to List
$10,000
0.89%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
5.53%
Original Mortgage
$645,000
Interest Rate
4.08%
Mortgage Type
New Conventional

Purchase Details

Closed on
Aug 6, 2007
Sold by
Klein Elizabeth A
Bought by
Klein Elizabeth A and Elizabeth A Klein Living Trust

Purchase Details

Closed on
Feb 1, 2001
Sold by
Lucas Norman G and Lucas Karen J
Bought by
Hon Philip

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,000,000
Interest Rate
4.5%
Mortgage Type
New Conventional

Purchase Details

Closed on
Aug 31, 1999
Sold by
Yip Ka Bing W and Yip Phyllis C
Bought by
Klein Elizabeth

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$343,200
Interest Rate
7.76%

Purchase Details

Closed on
Oct 20, 1993
Sold by
Yip Ka Bing W and Yip Phyllis C F
Bought by
Yip Ka Bing W and Yip Phyllis C F

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$189,000
Interest Rate
6.95%
Source: Public Records

Range of Values:

Collateral Analytics

Collateral Analytics Collateral Analytics AVMs (Automated Valuation Model) employ a number of statistical approaches combined with neighborhood-specific comparable selection guarantees the most up-to-date and precise valuations.

Not Available

Collateral Analytics does not have data for the current month. Please view the chart for historical values.

ICE

ICE Mortgage Technology ICE Mortgage Technology’s AVM (Automated Valuation Model) is a state-of-the-art online residential property valuation tool that provides a quick and accurate estimate of the value of almost any home in the U.S.

Not Available

ICE Mortgage Technology does not have data for the current month. Please view the chart for historical values.

First American

First American First American Data & Analytics’ next-generation AVM combines unrivaled data assets with a blended ensemble of valuation models to produce highly accurate, reliable valuations you can trust.

Not Available

First American does not have data for the current month. Please view the chart for historical values.

Quantarium

Quantarium Quantarium’s valuation service, repeatedly proven the industry’s most accurate and comprehensive, is supercharged with a self-learning and auto-tuning AI engine that continually becomes smarter and more accurate as it processes daily inputs from the industry’s leading RE data lake.

Not Available

Quantarium does not have data for the current month. Please view the chart for historical values.

Average Value
Not Available
List Price
Sold Price
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area

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
Lucas Family Trust -- Progressive Title Company
Lucas Norman G -- Progressive
Lucas Norman G $1,135,000 Orange Coast Title
Klein Elizabeth A -- None Available
Hon Philip $1,785,000 Progressive Title Company
Klein Elizabeth $429,000 Equity Title
Yip Ka Bing W -- First American Title Co
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Lucas Norman G $645,300
Previous Owner Lucas Norman G $645,000
Previous Owner Klein Elizabeth $400,000
Previous Owner Klein Elizabeth $100,000
Previous Owner Klein Elizabeth $350,000
Previous Owner Hon Philip $1,000,000
Previous Owner Klein Elizabeth $343,200
Previous Owner Yip Ka Bing W $189,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
08/03/2018 08/03/18 Sold $1,785,000 -2.2% $615 / Sq Ft
06/23/2018 06/23/18 Pending -- -- --
06/14/2018 06/14/18 For Sale $1,825,000 +60.8% $629 / Sq Ft
10/21/2014 10/21/14 Sold $1,135,000 +0.9% $422 / Sq Ft
09/02/2014 09/02/14 Pending -- -- --
08/27/2014 08/27/14 For Sale $1,125,000 -- $419 / 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 $21,245 $1,725,000 $1,111,300 $613,700
2024 $21,245 $1,725,000 $1,111,300 $613,700
2023 $21,233 $1,725,000 $1,111,300 $613,700
2022 $21,197 $1,725,000 $1,111,300 $613,700
2021 $20,168 $1,650,000 $1,063,000 $587,000
2020 $20,312 $1,820,700 $1,173,000 $647,700
2019 $21,696 $1,785,000 $1,150,000 $635,000
2018 $14,976 $1,198,859 $829,168 $369,691
2016 $14,461 $1,152,308 $796,971 $355,337
2015 $14,208 $1,135,000 $785,000 $350,000
2014 -- $537,870 $324,729 $213,141
Source: Public Records

Agents Affiliated with this Home

  • Section Image
  • Section Image
  • Section Image
See All Agents

Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PV18137473

California Regional Multiple Listing Service (CRMLS)

APN: 4157-030-015