NOT LISTED FOR SALE
4 Beds
3 Baths
2,400 Sq Ft
3,920 Sq Ft Lot

Last Sold May 22, 2015

Last sale price $859,000 $358 Per Sq Ft

6 Days on Market

Highlights

  • Ocean Side of Highway 1
  • City Lights View
  • Property is near park and public transit
  • Las Palmas Elementary School Rated A-
  • Open Floorplan
  • Cathedral Ceiling

About This Home

As of May 2015

Stylish and charming mid-century modern low-maintenance duplex with many upgrades! Great ocean breezes; walk to downtown shopping, restaurants, farmers' market, beach and historic sites. Upper unit has 2 bedrooms, 2 baths, spacious living room with soaring beamed ceiling, fireplace, sliding doors to wrap-around deck, plus 2 front large upper decks; private with locked gates; great for entertaining and sunset-watching.
Upgraded bathroom, double garage with extra sq ft in large walk-in storage area with shelving and new lighting. Flooring in upper unit is engineered Hickory wood, not laminate. Lower unit has 2 bedrooms, 1 upgraded bath with large double basin vanity with granite countertop, new oven, private entrance, garden and patio area and dog run. New roof and many other improvements; receipts for improvements available for inspection. Great opportunity for investor or for extended family private living quarters in a beach community. Must see interior to appreciate!
Buyer to confirm square footage. Cap rate and gross multiplier are based on pro forma rents. Upper unit currently is owner's residence. Escrow to close no sooner than June 30th.

Last Agent to Sell the Property

Gloria Poteete

Berkshire Hathaway Home Service License #00934489 Listed on: 04/08/2015

Last Buyer's Agent

Sherry Musurlian-Bauer

Beach Cities Real Estate License #01268037

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1963

Lot Details

  • 3,920 Sq Ft Lot
  • No Common Walls
  • South Facing Home
  • Privacy Fence
  • Vinyl Fence
  • Wood Fence
  • New Fence
  • Front and Side Yard Sprinklers
  • Sprinklers on Timer
  • Garden
  • Back and Front Yard
  • Density is 2-5 Units/Acre

Parking

  • 2 Car Garage
  • Parking Storage or Cabinetry
  • Parking Available
  • Single Garage Door
  • Garage Door Opener
  • Driveway

Property Views

  • City Lights
  • Woods
  • Hills

Home Design

  • Modern Architecture
  • Additions or Alterations
  • Slab Foundation
  • Fire Rated Drywall
  • Composition Roof

Interior Spaces

  • 2,400 Sq Ft Home
  • 2-Story Property
  • Open Floorplan
  • Wired For Data
  • Built-In Features
  • Beamed Ceilings
  • Cathedral Ceiling
  • Ceiling Fan
  • Recessed Lighting
  • Track Lighting
  • Fireplace With Gas Starter
  • Double Pane Windows
  • Awning
  • ENERGY STAR Qualified Windows
  • Solar Tinted Windows
  • Drapes & Rods
  • Blinds
  • Window Screens
  • Double Door Entry
  • Sliding Doors
  • Living Room with Fireplace
  • Living Room with Attached Deck
  • Living Room Balcony
  • Storage

Kitchen

  • Built-In Range
  • Dishwasher
  • Disposal

Flooring

  • Wood
  • Carpet
  • Tile

Bedrooms and Bathrooms

  • 4 Bedrooms
  • Primary Bedroom on Main
  • 3 Bathrooms

Laundry

  • Laundry Room
  • Gas Dryer Hookup

Outdoor Features

  • Ocean Side of Highway 1
  • Rain Gutters

Location

  • Property is near park and public transit

Utilities

  • Forced Air Heating System
  • Vented Exhaust Fan
  • Gas Water Heater
  • Cable TV Available

Listing and Financial Details

  • Tenant pays for cable TV, electricity, gas
  • Legal Lot and Block 46 / 15
  • Tax Tract Number 779
  • Assessor Parcel Number 05812346

Community Details

Overview

  • No Home Owners Association
  • 2 Units

Building Details

  • 1 Leased Unit
  • 2 Separate Electric Meters
  • 2 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $384
  • Insurance Expense $1,331
  • Trash Expense $216
  • Water Sewer Expense $960
  • New Taxes Expense $10,625
  • Gross Income $4,700
  • Net Operating Income $43,041

Property Details

Home Type

Multi-Family

Year Built

Built in 1963

Lot Details

3,920 Sq Ft Lot

Parking

2

Listing Details

  • Assessments: Yes
  • CapRate: 5.06
  • Property Attached: No
  • Road Frontage Type: City Street
  • View: Yes
  • Water Sewer Expenses: 960.00
  • Architectural Style: Modern
  • Property Condition: Additions/Alterations
  • Property Type: Residential Income
  • Parcel Number: 05812346
  • Year Built: 1963
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: Yes
  • Interior Amenities: Beamed Ceilings, Built-in Features, Cathedral Ceiling(s), Ceiling Fan(s), Wired for Data, Living Room Balcony, Living Room Deck Attached, Open Floorplan, Recessed Lighting, Storage, Track Lighting, Unfurnished
  • Stories: 2
  • Common Walls: No Common Walls
  • Flooring: Carpet, Tile, Wood
  • Appliances: Yes
  • Door Features: Double Door Entry, Sliding Doors
  • Fireplace Features: Gas Starter, Living Room
  • Levels: Two
  • Price Per Square Foot: 357.92
  • Room Type: Foyer, Living Room, Main Floor Bedroom, Main Floor Master Bedroom
  • Window Features: Blinds, Drapes, Double Pane Windows, ENERGY STAR Qualified Windows, Screens, Solar Tinted Windows

Exterior Features

  • Direction Faces: South
  • Foundation: Slab
  • Exterior Features: Awning(s)
  • View: City Lights, Hills, Trees/Woods
  • Fencing: New Condition, Privacy, Vinyl, Wood
  • Pool Private: No
  • Roof: Composition
  • Spa: No
  • Construction Materials: Drywall Walls

Garage/Parking

  • Garage Spaces: 2.00
  • Parking: Yes
  • Parking Features: Concrete, Driveway, Garage, Garage Door Opener, Garage - Single Door, Built-In Storage
  • Total Parking Spaces: 4.00

Utilities

  • Utilities: Cable Available, Sewer Connected, Water Connected
  • Heating: Yes
  • Laundry: Yes
  • Appliances: Built-In Range, Dishwasher, Disposal, Gas Cooktop, Gas Water Heater, Vented Exhaust Fan
  • Heating Type: Forced Air
  • Laundry Features: Gas Dryer Hookup, In Closet
  • Trash Expense: 216.00
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Curbs, Gutters, Storm Drains

Lot Info

  • Lot Features: Back Yard, 2-5 Units/Acre, Front Yard, Garden, Park Nearby, Sprinklers In Front, Sprinklers On Side, Sprinklers Timer, Near Public Transit
  • Lot Size Sq Ft: 3920.00
  • Lot Size Acres: 0.0900

Rental Info

  • Tenant Pays: Cable TV, Electricity, Gas

Multi Family

  • Electric Expense: 384.00
  • Gross Income: 4700.00
  • Gross Multiplier: 15.07
  • Gross Scheduled Income: 56400.00
  • Insurance Expense: 1331.00
  • Lot Size Area: 3920.0000 Square Feet
  • Net Operating Income: 43041.00
  • Number Of Separate Electric Meters: 2
  • Number Of Separate Gas Meters: 2
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 1
  • Number Of Units Total: 2
  • Number With Carpet: 1
  • Number With Dishwasher: 1
  • Number With Disposal: 2
  • Number With Drapes: 1
  • Number With Patio: 3
  • Number With Range: 2
  • Operating Expense: 13743.00
  • Other Income Description: Gross Scheduled Income is ProF
  • Rent Control: No
  • Total Actual Rent: 1900.00
  • Waterfront Features: Ocean Side Of Highway 1, Ocean Side of Freeway

Tax Info

  • New Taxes Expense: 10625.00
  • Tax Block: 15
  • Tax Lot: 46
  • Tax Tract Number: 779
  • Tax Year: 2014
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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
05/22/2015 05/22/15 Sold $859,000 +1.1% $358 / Sq Ft
04/14/2015 04/14/15 Pending -- -- --
04/08/2015 04/08/15 For Sale $850,000 -- $354 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

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 $10,265 $1,032,382 $926,501 $105,881
2024 $10,265 $1,012,140 $908,335 $103,805
2023 $10,048 $992,295 $890,525 $101,770
2022 $9,857 $972,839 $873,064 $99,775
2021 $9,667 $953,764 $855,945 $97,819
2020 $9,571 $943,985 $847,169 $96,816
2019 $9,382 $925,476 $830,558 $94,918
2018 $9,202 $907,330 $814,273 $93,057
2017 $9,023 $889,540 $798,307 $91,233
2016 $8,850 $872,099 $782,654 $89,445
2015 $5,800 $577,715 $483,153 $94,562
2014 $5,687 $566,399 $473,689 $92,710
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: OC15073309

California Regional Multiple Listing Service (CRMLS)

APN: 058-123-46

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