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

Sale Details

Date 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 closet
  • Marco Forster Middle School Rated A-
  • No HOA
  • 5-minute walk to Lantern Village Community Park

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
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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 closet
  • 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

Amenities

  • Laundry Facilities

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

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
Aug 18, 2023
Closed on
Oct 13, 2023
Sold by
Bought by
Seller's Agent
Mike Lovullo
Lantern Bay Realty
Buyer's Agent
Matteo Bortolotti
Coldwell Banker Realty
List Price
$2,850,000
Sold Price
$2,200,000
Premium/Discount to List
-$650,000
-22.81%
Views
59

Purchase Details

Closed on
Jul 19, 2013
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
$599,500
Interest Rate
3.98%
Mortgage Type
Commercial

Purchase Details

Closed on
Sep 16, 2009
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
$619,000
Interest Rate
5.25%
Mortgage Type
Commercial

Purchase Details

Closed on
Oct 18, 2007
Sold by
Bought by

Purchase Details

Closed on
Jun 1, 2007
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
$388,000
Interest Rate
6.14%
Mortgage Type
Commercial

Purchase Details

Closed on
Feb 24, 2006
Sold by
Bought by

Purchase Details

Closed on
Nov 21, 2005
Sold by
Bought by

Purchase Details

Closed on
Jan 9, 2001
Sold by
Bought by

Purchase Details

Closed on
Feb 15, 1996
Sold by
Bought by
Source: Public Records

Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

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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
$2,200,000 Chicago Title Company
-- First American Title Ins Co
-- First American Title Ins Co
-- Investors Title Company
-- Investors Title Company
-- None Available
-- United General Title Ins Co
-- United General Title Ins Co
-- None Available
-- --
-- --
$219,545 Fidelity National Title Ins
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 $200,000
Previous Owner $582,000
Previous Owner $599,500
Previous Owner $619,000
Previous Owner $388,000
Previous Owner $305,000
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
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

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 $26,393 $2,288,880 $2,012,703 $276,177
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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