NOT LISTED FOR SALE

25626 Lucille Ave Lomita, CA 90717

Estimated Value: $1,440,000 - $1,567,000

5 Beds
5 Baths
3,396 Sq Ft
$442/Sq Ft Est. Value

Last Sold October 08, 2021

Last sale price $1,310,000 $386 Per Sq Ft

Est. 15% increase in value since last sale

Current estimated payment $10,131/month

3 Days on Market

Highlights

  • All Bedrooms Downstairs
  • Lawn
  • Rectangular Lot
  • Wood Flooring
  • Laundry Room

About This Home

As of October 2021

Four separate Bungalow style units on a large lot. Very clean property that has been well maintained by owner. Each unit has its own private yard. Under $400/sq. ft. 44% rental upside. An astute investor, may want to consider converting the 1,900 sq. ft. 2 bedroom + 2 bath "owner's unit" into a 3 bedroom + 2 bath unit, which should be able to generate higher rent. At Market Rents 13.01 GRM and 5.32 % Cap Rate. Most of the units have very nice original wood flooring. Property is zoned commercial, so city indicated they would not allow the addition on an ADU. Buyer to confirm. Subject to California rent control rules.

Last Agent to Sell the Property

Michael Millea

Lyon Stahl Investment Real Estate, Inc. License #01069014 Listed on: 08/23/2021

Lyon Stahl Investment Real Estate, Inc.

Last Buyer's Agent

Michael Millea

Lyon Stahl Investment Real Estate, Inc. License #01069014 Listed on: 08/23/2021

Lyon Stahl Investment Real Estate, Inc.

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $21,792

Year Built

  • Built in 1946

Lot Details

  • 0.25 Acre Lot
  • No Common Walls
  • Rectangular Lot
  • Level Lot
  • Lawn

Parking

  • 2 Open Parking Spaces
  • 3 Car Garage
  • Parking Available
  • Assigned Parking

Interior Spaces

  • 3,396 Sq Ft Home
  • Wood Flooring

Bedrooms and Bathrooms

  • 5 Bedrooms
  • All Bedrooms Down
  • 5 Bathrooms

Laundry

  • Laundry Room
  • Washer and Gas Dryer Hookup

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Tax Lot 114
  • Tax Tract Number 848
  • Assessor Parcel Number 7373008009
  • $1,380 per year additional tax assessments

Community Details

Overview

  • 4 Buildings
  • 4 Units

Amenities

  • Laundry Facilities

Building Details

  • Rent Control
  • 4 Separate Electric Meters
  • 4 Separate Gas Meters
  • 1 Separate Water Meter
  • Gardener Expense $1,200
  • Insurance Expense $1,698
  • Maintenance Expense $3,528
  • Trash Expense $1,200
  • Water Sewer Expense $2,100
  • New Taxes Expense $15,930
  • Operating Expense $25,656
  • Gross Income $72,000
  • Net Operating Income $43,704

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$21,792

Year Built

Built in 1946

Lot Details

0

Parking

3

Listing Details

  • CapRate: 3.33
  • Price Per Unit: 337500
  • Property Attached: No
  • Water Sewer Expenses: 2100.00
  • Zoning: LOCG*
  • Property Type: Residential Income
  • Gardener Expense: 1200.00
  • Parcel Number: 7373008009
  • Year Built: 1946
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: No Common Walls
  • Flooring: Wood
  • Price Per Square Foot: 385.75
  • Room Type: All Bedrooms Down

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 3.00
  • Parking: Yes
  • Parking Features: Assigned
  • Total Parking Spaces: 5.00
  • Uncovered Spaces: 2.00

Utilities

  • Laundry: Yes
  • Laundry Features: Common Area, Gas Dryer Hookup, Washer Hookup
  • Sewer: Public Sewer
  • Trash Expense: 1200.00
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Curbs, Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Lawn, Level with Street, Rectangular Lot
  • Lot Size Sq Ft: 10911.00
  • Lot Size Acres: 0.2505

Rental Info

  • Tenant Pays: Electricity, Gas

Multi Family

  • Gross Income: 72000.00
  • Gross Multiplier: 18.75
  • Gross Operating Income: 70560.00
  • Gross Scheduled Income: 72000.00
  • Insurance Expense: 1698.00
  • Lot Size Area: 10911.0000 Square Feet
  • Maintenance Expense: 3528.00
  • Maintenance Percent: 5.00
  • Net Operating Income: 43704.00
  • Number Of Separate Electric Meters: 4
  • Number Of Separate Gas Meters: 4
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 4
  • Operating Expense: 25656.00
  • Rent Control: Yes
  • Total Expenses: 25656.00
  • Vacancy Allowance: 1440

Tax Info

  • New Taxes Expense: 15930.00
  • Tax Area: 1-383
  • Tax Census Tract: 6700.03
  • Tax Lot: 114
  • Tax Rate: 1.18
  • Tax Tract Number: 848
  • TaxOtherAnnualAssessmentAmount: 1380.00

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Aug 23, 2021
Closed on
Oct 15, 2021
Sold by
Johnson Lawrence
Bought by
Johnson Lawrence and Crisfield Cameron
Seller's Agent
Michael Millea
Lyon Stahl Investment Real Estate, Inc.
Buyer's Agent
Michael Millea
Lyon Stahl Investment Real Estate, Inc.
List Price
$1,350,000
Sold Price
$1,310,000
Premium/Discount to List
-$40,000
-2.96%
Current Estimated Value
$1,501,282

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$191,282
Avg. Annual Appreciation
3.33%
Original Mortgage
$982,500
Outstanding Balance
$901,761
Interest Rate
2.8%
Mortgage Type
New Conventional
Estimated Equity
$580,670

Purchase Details

Listed on
Aug 23, 2021
Closed on
Aug 25, 2021
Sold by
Lopin Chris Nicholas and Lopin Mitchel
Bought by
Johnson Lawrence
Seller's Agent
Michael Millea
Lyon Stahl Investment Real Estate, Inc.
Buyer's Agent
Michael Millea
Lyon Stahl Investment Real Estate, Inc.
List Price
$1,350,000
Sold Price
$1,310,000
Premium/Discount to List
-$40,000
-2.96%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$982,500
Outstanding Balance
$901,761
Interest Rate
2.8%
Mortgage Type
New Conventional
Estimated Equity
$580,670

Purchase Details

Closed on
Jul 24, 2015
Sold by
Lopin Mitchel and Lopin Mitchel
Bought by
Lopin Mitchel and Lopin Mitchel
Source: Public Records

Range of Values:

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List Price
Sold Price
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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
Johnson Lawrence -- None Available
Johnson Lawrence $1,310,000 North American Title Company
Lopin Mitchel -- None Available
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Johnson Lawrence $982,500
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
10/08/2021 10/08/21 Sold $1,310,000 -3.0% $386 / Sq Ft
08/26/2021 08/26/21 Pending -- -- --
08/23/2021 08/23/21 For Sale $1,350,000 -- $398 / 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
2024 $21,792 $1,716,660 $1,040,400 $676,260
2023 $21,410 $1,683,000 $1,020,000 $663,000
2022 $7,769 $553,884 $248,219 $305,665
2021 $7,688 $543,024 $243,352 $299,672
2020 $7,742 $537,457 $240,857 $296,600
2019 $7,461 $526,920 $236,135 $290,785
2018 $7,222 $516,589 $231,505 $285,084
2016 $6,850 $496,531 $222,516 $274,015
2015 $6,742 $489,074 $219,174 $269,900
2014 $6,756 $479,495 $214,881 $264,614
Source: Public Records

Agents Affiliated with this Home

  • Michael Millea

    Seller's Agent in 2021

    Michael Millea

    Lyon Stahl Investment Real Estate, Inc.

    (310) 251-2083

    2 in this area

    40 Total Sales

    Michael Millea
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: SB21186805

California Regional Multiple Listing Service (CRMLS)

APN: 7373-008-009

California Los Angeles County Lomita 90717

25626 Lucille Ave, Lomita, CA

This home is located at 25626 Lucille Ave, Lomita, CA 90717 since 23 August 2021 and is currently estimated at $1,501,282, approximately $442 per square foot. This property was built in 1946. 25626 Lucille Ave is a home located in Los Angeles County with nearby schools including Eshelman Avenue Elementary School, Alexander Fleming Middle School, and Nathaniel Narbonne Senior High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

California Regional Multiple Listing Service (CRMLS) The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.

Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information

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