NOT LISTED FOR SALE
2 Beds
2 Baths
4,568 Sq Ft
7,492 Sq Ft Lot

Last Sold October 24, 2023

Last sale price $2,200,000 $482 Per Sq Ft

56 Days on Market

Highlights

  • Ocean View
  • No Units Above
  • Laundry Room
  • Marco Forster Middle School Rated A-
  • No HOA
  • Tile Flooring

About This Home

As of October 2023

FOUR, 2 bedroom, 1.5 bath units each with a 2 car garage. Approximately 1,142 sqft per unit. Beach & Harbor close with great upside potential!
Unit D has great ocean views! Close to Town Center, beaches, Harbor & Shopping!

Last Agent to Sell the Property

Mike Lovullo

Lantern Bay Realty License #00840789 Listed on: 08/18/2023

Last Buyer's Agent

Matteo Bortolotti

Coldwell Banker Realty License #02069224

Coldwell Banker Realty

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1978

Lot Details

  • 7,492 Sq Ft Lot
  • No Units Above
  • No Units Located Below
  • Two or More Common Walls
  • Density is 11-15 Units/Acre

Parking

  • 8 Car Garage
  • 2 Open Parking Spaces
  • Parking Available
  • Front Facing Garage
  • Single Garage Door
  • Garage Door Opener
  • Driveway Down Slope From Street
  • Assigned Parking

Property Views

  • Ocean
  • City Lights
  • Woods
  • Neighborhood

Home Design

  • Quadruplex
  • Entry on the 1st floor
  • Fire Rated Drywall
  • Composition Roof

Interior Spaces

  • 4,568 Sq Ft Home
  • 2-Story Property

Kitchen

  • Gas Range
  • Dishwasher

Flooring

  • Carpet
  • Laminate
  • Tile
  • Vinyl

Bedrooms and Bathrooms

  • 2 Bedrooms
  • All Upper Level Bedrooms
  • 2 Bathrooms

Laundry

  • Laundry Room
  • Dryer
  • Washer

Outdoor Features

  • Exterior Lighting

Utilities

  • Radiant Heating System
  • Natural Gas Connected
  • Cable TV Available

Listing and Financial Details

  • Tax Lot 10
  • Tax Tract Number 2666
  • Assessor Parcel Number 68225110
  • $36 per year additional tax assessments

Community Details

Overview

  • No Home Owners Association
  • 4 Units
  • Lantern Village Central Subdivision

Building Details

  • 3 Leased Units
  • 5 Separate Electric Meters
  • 4 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $360
  • Gardener Expense $1,920
  • Insurance Expense $5,000
  • Trash Expense $1,094
  • Water Sewer Expense $1,500
  • New Taxes Expense $28,330
  • Operating Expense $38,204
  • Net Operating Income $127,509

Property Details

Home Type

Multi-Family

Year Built

Built in 1978

Lot Details

7,492 Sq Ft Lot

Parking

8

Listing Details

  • Assessments: No
  • CapRate: 3.20
  • Property Attached: Yes
  • Subdivision Name Other: Lantern Village Central (LDC)
  • View: Yes
  • Water Sewer Expenses: 1500.00
  • Property Sub Type: Quadruplex
  • Property Type: Residential Income
  • Gardener Expense: 1920.00
  • Parcel Number: 68225110
  • Year Built: 1978
  • Special Features: None

Interior Features

  • Fireplace: No
  • Stories: 2
  • Common Walls: 2+ Common Walls, No One Above, No One Below
  • Flooring: Carpet, Laminate, Tile, Vinyl
  • Appliances: Yes
  • Entry Level: 1
  • Levels: Two
  • Price Per Square Foot: 481.61
  • Room Type: All Bedrooms Up

Exterior Features

  • View: City Lights, Neighborhood, Ocean, Trees/Woods
  • Pool Private: No
  • Roof: Composition
  • Spa: No
  • Construction Materials: Drywall Walls

Garage/Parking

  • Garage Spaces: 8.00
  • Parking: Yes
  • Parking Features: Assigned, Concrete, Driveway Down Slope From Street, Garage Faces Front, Garage - Single Door, Garage Door Opener
  • Total Parking Spaces: 10.00
  • Uncovered Spaces: 2.00

Utilities

  • Utilities: Cable Connected, Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
  • Heating: Yes
  • Laundry: Yes
  • Appliances: Dishwasher, Gas Range
  • Heating Type: Radiant
  • Laundry Features: Dryer Included, In Closet, Inside, Washer Included
  • Sewer: Public Sewer
  • Trash Expense: 1094.40
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Sidewalks, Storm Drains, Street Lights

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 11-15 Units/Acre, Lot 6500-9999
  • Lot Size Sq Ft: 7492.00
  • Lot Size Acres: 0.1720

Multi Family

  • Average2 Bed Area: 1142 Square Feet
  • Electric Expense: 360.00
  • Gross Multiplier: 22.00
  • Gross Scheduled Income: 132384.00
  • Insurance Expense: 5000.00
  • Laundry Equipment Own Lease: Own
  • Lot Size Area: 7492.0000 Square Feet
  • Net Operating Income: 127509.00
  • Number Of Separate Electric Meters: 5
  • Number Of Separate Gas Meters: 4
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 3
  • Number Of Units Total: 4
  • Number With Dishwasher: 4
  • Number With Disposal: 4
  • Number With Range: 4
  • Number With Refrigerator: 4
  • Operating Expense: 4875.00
  • Rent Control: No
  • Total Expenses: 38204.40

Tax Info

  • New Taxes Expense: 28330.00
  • Tax Census Tract: 423.13
  • Tax Lot: 10
  • Tax Tract Number: 2666
  • TaxOtherAnnualAssessmentAmount: 36.00
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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
10/24/2023 10/24/23 Sold $2,200,000 -12.0% $482 / Sq Ft
10/05/2023 10/05/23 Price Changed $2,500,000 -7.4% $547 / Sq Ft
09/17/2023 09/17/23 Price Changed $2,699,900 -5.3% $591 / Sq Ft
08/18/2023 08/18/23 For Sale $2,850,000 0.0% $624 / Sq Ft
12/10/2014 12/10/14 Rented $1,795 0.0% --
12/10/2014 12/10/14 For Rent $1,795 -- --
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 $25,302 $2,244,000 $1,973,238 $270,762
2024 $25,302 $2,200,000 $1,934,547 $265,453
2023 $8,249 $469,627 $234,821 $234,806
2022 $4,688 $460,419 $230,217 $230,202
2021 $4,597 $451,392 $225,703 $225,689
2020 $4,551 $446,764 $223,389 $223,375
2019 $4,462 $438,004 $219,008 $218,996
2018 $4,377 $429,416 $214,714 $214,702
2017 $4,291 $420,997 $210,504 $210,493
2016 $4,209 $412,743 $206,377 $206,366
2015 $5,696 $406,544 $203,277 $203,267
2014 $5,615 $398,581 $199,295 $199,286
Source: Public Records

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: OC23154384

California Regional Multiple Listing Service (CRMLS)
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