NOT LISTED FOR SALE
16 Beds
8 Baths
5,000 Sq Ft
7,513 Sq Ft Lot

Sale Details

Date Sold: April 25, 2017

Last sale price $2,950,000 $590 Per Sq Ft

45 Days on Market

Highlights

  • Wood Flooring
  • Modern Architecture
  • No HOA
  • Madison Elementary School Rated A+
  • Granite Countertops
  • Living Room

About This Home

As of April 2017

Beautiful Modern 8 unit building in Redondo Beach... just completed major renovations, including brand new Milgard Windows, smooth stucco, wrought iron balconies, new roof, and copper plumbing. 3 of the interior units have been completely remodeled 4 partially updated and one original. All units are 2 bedroom 1 Bath. Current total rents are approximately $15,565 month + an additional $250 laundry per month total income of $15,815. Offers subject to inspection, buyer to verify all information.

Last Agent to Sell the Property

Gary Elminoufi

Beach City Brokers License #01139207 Listed on: 02/10/2017

Beach City Brokers

Last Buyer's Agent

Jeanevra Calhoun

Beach City Brokers License #01976822

Beach City Brokers

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1944 | Remodeled

Lot Details

  • 7,513 Sq Ft Lot
  • Two or More Common Walls
  • Level Lot

Home Design

  • Modern Architecture
  • Apartment
  • Turnkey
  • Tar and Gravel Roof

Interior Spaces

  • 5,000 Sq Ft Home
  • 2-Story Property
  • Blinds
  • Window Screens
  • Living Room
  • Living Room Balcony
  • Wood Flooring
  • Laundry Located Outside

Kitchen

  • Gas Oven
  • Gas Cooktop
  • Granite Countertops

Bedrooms and Bathrooms

  • 16 Bedrooms
  • 8 Bathrooms

Home Security

  • Carbon Monoxide Detectors
  • Fire and Smoke Detector

Parking

  • 8 Open Parking Spaces
  • 8 Parking Spaces
  • Parking Available
  • Assigned Parking

Outdoor Features

  • Exterior Lighting
  • Rain Gutters

Listing and Financial Details

  • Tenant pays for cable TV, electricity, gas
  • Tax Lot 11
  • Tax Tract Number 2
  • Assessor Parcel Number 4153025011

Community Details

Overview

  • No Home Owners Association
  • 8 Units

Amenities

  • Laundry Facilities

Building Details

  • 8 Leased Units
  • 9 Separate Electric Meters
  • 9 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $444
  • Insurance Expense $2,500
  • Trash Expense $1,164
  • Water Sewer Expense $2,160
  • New Taxes Expense $40,000
  • Operating Expense $47,384
  • Gross Income $15,815
  • Net Operating Income $130,390

Property Details

Home Type

Multi-Family

Year Built

Built in 1944 | Remodeled

Lot Details

7,513 Sq Ft Lot

Listing Details

  • CapRate: 4.07
  • Property Attached: Yes
  • Security: Carbon Monoxide Detector(s), Smoke Detector(s)
  • View: No
  • Water Sewer Expenses: 2160.00
  • Architectural Style: Modern
  • Property Condition: Turnkey, Updated/Remodeled
  • Property Sub Type: Apartment
  • Property Type: Residential Income
  • Parcel Number: 4153025011
  • Year Built: 1944
  • Special Features: None

Interior Features

  • Fireplace: No
  • Interior Amenities: Granite Counters, Living Room Balcony
  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Flooring: Wood
  • Appliances: Yes
  • Levels: Two
  • Price Per Square Foot: 590.00
  • Room Type: Living Room
  • Window Features: Blinds, Screens

Exterior Features

  • Exterior Features: Rain Gutters
  • Pool Private: No
  • Roof: Tar/Gravel
  • Spa: No

Garage/Parking

  • Parking: Yes
  • Parking Features: Assigned
  • Total Parking Spaces: 8.00
  • Uncovered Spaces: 8.00

Utilities

  • Utilities: Sewer Available
  • Laundry: Yes
  • Appliances: Gas Oven, Gas Cooktop, Refrigerator
  • Laundry Features: Community, Outside
  • Sewer: Public Sewer
  • Trash Expense: 1164.00
  • Water Source: Public

Condo/Co-op/Association

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

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Level with Street
  • Lot Size Sq Ft: 7513.00

Rental Info

  • Tenant Pays: Cable TV, Electricity, Gas

Multi Family

  • Average2 Bed Area: 625 Square Feet
  • Electric Expense: 444.00
  • Gross Income: 15815.00
  • Gross Multiplier: 17.13
  • Gross Operating Income: 181117.00
  • Gross Scheduled Income: 186780.00
  • Insurance Expense: 2500.00
  • Laundry Equipment Own Lease: Own
  • Laundry Income: 3000.00
  • Net Operating Income: 130390.00
  • Number Of Separate Electric Meters: 9
  • Number Of Separate Gas Meters: 9
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 8
  • Number Of Units Total: 8
  • Number With Patio: 8
  • Number With Range: 8
  • Number With Refrigerator: 8
  • Operating Expense: 50727.00
  • Rent Control: No
  • Total Actual Rent: 15565.00
  • Total Expenses: 47384.00
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 40000.00
  • Tax Lot: 11
  • Tax Tract Number: 2

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
Feb 10, 2017
Closed on
Apr 11, 2017
Sold by
Bought by
Seller's Agent
Gary Elminoufi
Beach City Brokers
Buyer's Agent
Jeanevra Calhoun
Beach City Brokers
List Price
$319,900
Sold Price
$2,950,000
Premium/Discount to List
$2,630,100
822.16%

Purchase Details

Closed on
Jun 22, 2015
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
$1,365,000
Interest Rate
0.039%
Mortgage Type
Commercial

Purchase Details

Closed on
Dec 28, 2004
Sold by
Bought by
Source: Public Records
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

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
$2,950,000 Lawyers Title
$1,950,000 Lawyers Title
-- --
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 $1,365,000
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
04/25/2017 04/25/17 Sold $2,950,000 +822.2% $590 / Sq Ft
03/27/2017 03/27/17 Pending -- -- --
02/10/2017 02/10/17 For Sale $319,900 -- $64 / Sq Ft
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
2025 $41,338 $3,423,722 $2,379,198 $1,044,524
2024 $39,578 $3,356,592 $2,332,548 $1,024,044
2023 $38,850 $3,290,777 $2,286,812 $1,003,965
2022 $38,334 $3,226,253 $2,241,973 $984,280
2021 $37,453 $3,162,994 $2,198,013 $964,981
2019 $36,741 $3,069,180 $2,132,820 $936,360
2018 $35,846 $3,009,000 $2,091,000 $918,000
2016 $24,176 $1,950,000 $1,550,000 $400,000
2015 $6,079 $333,686 $168,380 $165,306
2014 $6,060 $327,150 $165,082 $162,068
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: SB16759223

California Regional Multiple Listing Service (CRMLS)
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