NOT LISTED FOR SALE

Estimated Value: $1,824,000 - $2,253,000

7 Beds
3 Baths
3,476 Sq Ft
$582/Sq Ft Est. Value

Last Sold August 19, 2020

Last sale price $1,505,000 $433 Per Sq Ft

Est. 34% increase in value since last sale

Current estimated payment $12,302/month

15 Days on Market

Highlights

  • Ocean View
  • Midcentury Modern Architecture
  • Balcony
  • Lowell Elementary School Rated A-
  • Wood Flooring
  • Laundry Room

About This Home

As of August 2020

Belmont Shore!! The third home in from Ocean Blvd and the sand, on an oversized lot of 4728 sq. ft. this mid-century triplex is a wonderful investment or live in one as owner-occupied home and have income to make the mortgage. It has 3 large units and a charming garden courtyard with roses. There is one 3 bed-1 bath on the main level with attached 1 car garage- Hard wood floors, remodeled bath and private laundry hook ups and patio. Upstairs there is an updated 2 bed 1 bath unit with living and dining rooms that open to a balcony, newer fixtures and large bedrooms, with tons of closets and hardwood floors, granite counters and newer cabinetry in the bath. There is a partial ocean view from this unit. The 3rd unit in the back over the garages is a well maintained original classic 1950 style with hardwood floors and tons of character. There are a total of 3 private garages, & 1 off street parking space, a laundry room with leased washer/dryer and a store room. Per the city the lot size should allow for a possible ADU without additional parking. Lots of potential and an amazing location across from the proposed new Olympic pool complex, the current outdoor pool and the beach amenities of bike paths, dog beach and restaurants, shopping and Iconix Fitness. Sand and surf are awaiting along with lots of upside in rents over time.

Last Agent to Sell the Property

Heidi Brantley

Coldwell Banker Realty License #01291141 Listed on: 06/11/2020

Coldwell Banker Realty

Last Buyer's Agent

Karyn Greene

Realty One Group West License #02080792

Realty One Group West

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1950

Lot Details

  • 4,728 Sq Ft Lot
  • Lot Dimensions are 53 x 90
  • Two or More Common Walls
  • Density is up to 1 Unit/Acre

Parking

  • 1 Open Parking Space
  • 3 Car Garage
  • Parking Available
  • Single Garage Door

Property Views

  • Ocean
  • Peek-A-Boo

Home Design

  • Triplex
  • Midcentury Modern Architecture

Interior Spaces

  • 3,476 Sq Ft Home
  • 2-Story Property
  • Ceiling Fan
  • Gas Range

Flooring

  • Wood
  • Tile

Bedrooms and Bathrooms

  • 7 Bedrooms
  • 3 Bathrooms

Laundry

  • Laundry Room
  • Leased Washer and Dryer

Outdoor Features

  • Balcony
  • Exterior Lighting

Utilities

  • Cooling System Mounted To A Wall/Window
  • Wall Furnace

Listing and Financial Details

  • Tenant pays for cable TV, electricity, gas
  • Legal Lot and Block 10 / 8
  • Tax Tract Number 3750
  • Assessor Parcel Number 7256036009

Community Details

Overview

  • Property has a Home Owners Association
  • 3 Units
  • Belmont Shore Subdivision

Amenities

  • Laundry Facilities

Building Details

  • 2 Leased Units
  • Rent Control
  • 4 Separate Electric Meters
  • 3 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $306
  • Gardener Expense $720
  • Insurance Expense $2,004
  • Maintenance Expense $1,000
  • Other Expense $312
  • Pest Control $414
  • Trash Expense $400
  • Water Sewer Expense $1,210
  • New Taxes Expense $19,200
  • Operating Expense $25,566
  • Gross Income $240
  • Net Operating Income $56,840

Property Details

Home Type

Multi-Family

Year Built

Built in 1950

Lot Details

0

Parking

3

Listing Details

  • Assessments: No
  • CapRate: 3.60
  • Inclusions: Seller-owned stoves, refrigerators, and other appliances
  • Property Attached: Yes
  • Subdivision Name Other: Belmont Shore (BSD)
  • View: Yes
  • Water Sewer Expenses: 1210.00
  • Zoning: LBR4R
  • Architectural Style: Mid Century Modern
  • Property Sub Type: Triplex
  • Property Type: Residential Income
  • Gardener Expense: 720.00
  • Parcel Number: 7256036009
  • Year Built: 1950
  • Special Features: None

Interior Features

  • Fireplace: No
  • Interior Amenities: Balcony, Ceiling Fan(s)
  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Flooring: Tile, Wood
  • Appliances: Yes
  • Levels: Two
  • Price Per Square Foot: 432.97

Exterior Features

  • View: Ocean, Peek-A-Boo
  • Pool Private: No
  • Spa: No

Garage/Parking

  • Garage Spaces: 3.00
  • Parking: Yes
  • Parking Features: Garage - Single Door
  • Total Parking Spaces: 4.00
  • Uncovered Spaces: 1.00

Utilities

  • Heating: Yes
  • Laundry: Yes
  • Appliances: Gas Range
  • Heating Type: Wall Furnace
  • Laundry Features: Community
  • Pest Control Expense: 414.00
  • Sewer: Public Sewer
  • Trash Expense: 400.00
  • Water Source: Public
  • Cooling: Wall/Window Unit(s)

Condo/Co-op/Association

  • Association: Yes
  • Senior Community: No
  • Community Features: Sidewalks, Street Lights

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 0-1 Unit/Acre
  • Lot Size: 53 x 90
  • Lot Size Sq Ft: 4728.00
  • Lot Size Acres: 0.1085
  • Latitude Manual: 33.75916500

Rental Info

  • Tenant Pays: Cable TV, Electricity, Gas

Multi Family

  • Average2 Bed Area: 1050 Square Feet
  • Average3 Bed Area: 1400 Square Feet
  • Electric Expense: 306.00
  • Gross Income: 240.00
  • Gross Multiplier: 19.50
  • Gross Operating Income: 82140.00
  • Gross Scheduled Income: 82140.00
  • Gross Spendable Income: 56840.00
  • Insurance Expense: 2004.00
  • Laundry Equipment Own Lease: Lease
  • Laundry Income: 240.00
  • Lot Size Area: 4728.0000 Square Feet
  • Maintenance Expense: 1000.00
  • Net Operating Income: 56840.00
  • Number Of Rented Garages: 3
  • Number Of Separate Electric Meters: 4
  • Number Of Separate Gas Meters: 3
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 2
  • Number Of Units Total: 3
  • Number With Patio: 3
  • Number With Range: 3
  • Operating Expense: 25566.00
  • Other Expense: 312.00
  • Other Expense Description: laundry
  • Other Income Description: all parking included in rents
  • Rent Control: Yes
  • Total Actual Rent: 3845.00
  • Total Expenses: 25566.00

Tax Info

  • New Taxes Expense: 19200.00
  • Tax Area: 5500
  • Tax Block: 8
  • Tax Census Tract: 5773.00
  • Tax Lot: 10
  • Tax Tract Number: 3750

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jun 11, 2020
Closed on
Jun 30, 2020
Sold by
Cortez Guillermina and Scheiber Barbara L
Bought by
Bisom Andrew and Bisom Diane
Seller's Agent
Heidi Brantley
Coldwell Banker Realty
Buyer's Agent
Karyn Greene
Realty One Group West
List Price
$1,600,000
Sold Price
$1,505,000
Premium/Discount to List
-$95,000
-5.94%
Current Estimated Value
$2,021,369

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$516,369
Avg. Annual Appreciation
5.67%
Original Mortgage
$1,000,000
Interest Rate
3%
Mortgage Type
New Conventional

Purchase Details

Closed on
Feb 6, 2002
Sold by
Schoenman Edith A
Bought by
Cortez Guillermina and Scheiber Barbara L

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$397,000
Interest Rate
7.13%

Purchase Details

Closed on
Feb 21, 1998
Sold by
Davis William R Tr Davis Trust
Bought by
Cortez Guillermina and Scheiber Barbara L

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$300,000
Interest Rate
7.13%
Mortgage Type
Balloon
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
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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
Bisom Andrew $1,505,000 Ticor Title
Cortez Guillermina -- Commerce Title
Cortez Guillermina $400,000 First American Title Ins Co
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Bisom Andrew $1,000,000
Previous Owner Cortez Guillermina $397,000
Previous Owner Cortez Guillermina $300,000
Closed Cortez Guillermina $80,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
08/19/2020 08/19/20 Sold $1,505,000 -5.9% $433 / Sq Ft
06/27/2020 06/27/20 Pending -- -- --
06/11/2020 06/11/20 For Sale $1,600,000 -- $460 / 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 $20,548 $1,629,058 $1,190,674 $438,384
2024 $20,548 $1,597,117 $1,167,328 $429,789
2023 $20,207 $1,565,802 $1,144,440 $421,362
2022 $18,958 $1,535,100 $1,122,000 $413,100
2021 $18,588 $1,505,000 $1,100,000 $405,000
2020 $8,574 $659,407 $423,378 $236,029
2019 $8,475 $646,478 $415,077 $231,401
2018 $8,213 $633,803 $406,939 $226,864
2016 $7,543 $609,193 $391,138 $218,055
2015 $7,244 $600,043 $385,263 $214,780
2014 $7,201 $588,290 $377,717 $210,573
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW20105643

California Regional Multiple Listing Service (CRMLS)

APN: 7256-036-009