NOT LISTED FOR SALE

Estimated Value: $5,985,442

10 Beds
7 Baths
7,604 Sq Ft
$787/Sq Ft Est. Value

Last Sold December 26, 2012

Last sale price $2,390,000 $314 Per Sq Ft

Est. 150% increase in value since last sale

Current estimated payment $35,707/month

16 Days on Market

Highlights

  • 0.35 Acre Lot
  • Cape Cod Architecture
  • No HOA
  • Madison Elementary School Rated A+
  • Lawn
  • Laundry Room

About This Home

As of December 2012

Fall in love with this Clapboard/Craftsmen with a twist of park like setting. 10 residential units on two huge lots all have been upgraded and rehabbed. Granite and tile for ease of maintenance and newer appliances make this a winner. Always 100% rented and when a tenant must move it is re-rented before the old tenant moves out. Be sure to watch our video attached called virtual tour.

Last Agent to Sell the Property

Darrell Smith

Smith-Properties License #01191850 Listed on: 11/01/2012

Last Buyer's Agent

NoEmail NoEmail

NONMEMBER MRML

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $35,231

Year Built

  • Built in 1952 | Remodeled

Lot Details

  • 0.35 Acre Lot
  • Lot Dimensions are 100 x 150
  • 1 Common Wall
  • Southeast Facing Home
  • Partially Fenced Property
  • Wood Fence
  • Block Wall Fence
  • Landscaped
  • Rectangular Lot
  • Lot Sloped Down
  • Sprinklers on Timer
  • Lawn
  • Front Yard

Parking

  • 10 Car Garage
  • Parking Available
  • Shared Driveway
  • Assigned Parking

Home Design

  • Cape Cod Architecture
  • Property Attached
  • Raised Foundation
  • Fire Rated Drywall
  • Asphalt Roof
  • Wood Siding
  • Shingle Siding
  • Concrete Perimeter Foundation
  • Stucco

Interior Spaces

  • 7,604 Sq Ft Home
  • 2-Story Property
  • Casement Windows
  • Tile Flooring

Kitchen

  • Gas Oven
  • Gas Cooktop
  • Disposal

Bedrooms and Bathrooms

  • 10 Bedrooms
  • Mirrored Closets Doors
  • 7 Bathrooms

Laundry

  • Laundry Room
  • Leased Washer and Dryer

Home Security

  • Carbon Monoxide Detectors
  • Fire and Smoke Detector

Accessible Home Design

  • No Interior Steps
  • Accessible Parking

Utilities

  • Space Heater
  • Heating System Uses Natural Gas
  • Hot Water Circulator
  • Gas Water Heater
  • Sewer Paid

Additional Features

  • Rain Gutters
  • Suburban Location

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Legal Lot and Block 19 / 10
  • Tax Tract Number 2
  • Assessor Parcel Number 4153025018

Community Details

Overview

  • No Home Owners Association
  • 3 Buildings
  • 10 Units

Amenities

  • Laundry Facilities

Building Details

  • 10 Leased Units
  • 11 Separate Electric Meters
  • 11 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $600
  • Gardener Expense $1,020
  • Insurance Expense $3,994
  • Other Expense $960
  • Trash Expense $1,322
  • Water Sewer Expense $2,800
  • New Taxes Expense $27,600
  • Gross Income $13,965
  • Net Operating Income $127,244

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$35,231

Year Built

Built in 1952 | Remodeled

Lot Details

0

Parking

10

Listing Details

  • Assessments: No
  • CapRate: 5.32
  • Improvements Amount: 326397
  • Improvements Percent: 13.63
  • Price Per Unit: 239000
  • Property Attached: Yes
  • Road Surface Type: Alley Paved
  • Security: Carbon Monoxide Detector(s), Smoke Detector(s)
  • View: No
  • Water Sewer Expenses: 2800.00
  • Zoning: R-4
  • Architectural Style: Cape Cod
  • Property Condition: Updated/Remodeled
  • Property Type: Residential Income
  • Gardener Expense: 1020.00
  • Parcel Number: 4153025018
  • Year Built: 1952
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: No
  • Interior Amenities: Unfurnished
  • Stories: 2
  • Common Walls: 1 Common Wall
  • Flooring: Tile
  • Accessibility Features: No Interior Steps, Parking
  • Appliances: Yes
  • Door Features: Mirror Closet Door(s)
  • Levels: Two
  • Price Per Square Foot: 314.31
  • Window Features: Casement Windows

Exterior Features

  • Direction Faces: Southeast
  • Foundation: Concrete Perimeter, Raised
  • Exterior Features: Rain Gutters
  • Fencing: Block, Partial, Wood
  • Pool Private: No
  • Roof: Asphalt
  • Spa: No
  • Construction Materials: Drywall Walls, Shingle Siding, Stucco, Wood Siding

Garage/Parking

  • Garage Spaces: 10.00
  • Parking: Yes
  • Parking Features: Assigned, Asphalt, Driveway, Shared Driveway
  • Total Parking Spaces: 13.00

Utilities

  • Utilities: Natural Gas Available, Sewer Connected, Water Connected
  • Heating: Yes
  • Laundry: Yes
  • Appliances: Disposal, Gas Oven, Gas Cooktop, Gas Water Heater, Hot Water Circulator
  • Electric: Electricity - On Property
  • Heating Type: Natural Gas, Space Heater
  • Laundry Features: Community
  • Sewer: Sewer Paid
  • Trash Expense: 1322.00
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Suburban

Lot Info

  • Land Value: 2067195
  • Land Value Percent: 86.37
  • Lot Features: Sloped Down, Front Yard, Lawn, Landscaped, Rectangular Lot, Sprinklers Timer, Sprinkler System
  • Lot Size: 100 X 150
  • Lot Size Sq Ft: 15008.00
  • Lot Size Acres: 0.3450

Rental Info

  • Tenant Pays: Electricity, Gas

Multi Family

  • Average1 Bed Area: 675
  • Average2 Bed Area: 845
  • Electric Expense: 600.00
  • Gross Income: 13965.00
  • Gross Multiplier: 13.72
  • Gross Scheduled Income: 167580.00
  • Insurance Expense: 3994.00
  • Laundry Equipment Own Lease: Lease
  • Lot Size Area: 15008.0000 Square Feet
  • Net Operating Income: 127244.00
  • Number Of Separate Electric Meters: 11
  • Number Of Separate Gas Meters: 11
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 10
  • Number Of Units Total: 10
  • Number With Disposal: 10
  • Number With Patio: 1
  • Number With Range: 10
  • Operating Expense: 40336.00
  • Operating Expense Percent: 2.34
  • Other Expense: 960.00
  • Other Expense Description: Laundry
  • Rent Control: No
  • Total Actual Rent: 13680.00

Tax Info

  • New Taxes Expense: 27600.00
  • Tax Area: 8060
  • Tax Block: 10
  • Tax Lot: 19
  • Tax Tract Number: 2
  • Tax Year: 2011

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Nov 1, 2012
Closed on
Nov 19, 2012
Sold by
Schulz Barbara Lee and The Barbara Lee Schulz Family
Bought by
Leon Andrew F and Leon Gay
Seller's Agent
Darrell Smith
Smith-Properties
Buyer's Agent
NoEmail NoEmail
NONMEMBER MRML
List Price
$2,390,000
Sold Price
$2,390,000
Current Estimated Value
$5,985,442

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$3,595,442
Avg. Annual Appreciation
7.56%
Original Mortgage
$1,400,000
Interest Rate
3.27%
Mortgage Type
Commercial

Purchase Details

Closed on
Jul 28, 2010
Sold by
Schulz Barbara Lee and Schulz Barbara L
Bought by
Schultz Barbara Lee and Barbara Lee Schulz Family Trus

Purchase Details

Closed on
Jun 21, 2005
Sold by
Multidimentional Inc
Bought by
Schulz 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
$500,000
Interest Rate
5.81%
Mortgage Type
Commercial

Purchase Details

Closed on
Apr 9, 2004
Sold by
Corry Robert S and The Robert S Corry Family Trus
Bought by
Multidimentional Inc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,267,500
Interest Rate
5.86%
Mortgage Type
Commercial

Purchase Details

Closed on
May 15, 2003
Sold by
Corry Robert S
Bought by
Corry Robert S and The Robert S Corry Family Trus

Purchase Details

Closed on
Mar 23, 1999
Sold by
Web Service Company Inc
Bought by
Corry Robert

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$690,000
Interest Rate
8.06%
Mortgage Type
Commercial
Source: Public Records

Range of Values:

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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
Leon Andrew F $2,390,000 Chicago Title Company
Schultz Barbara Lee -- None Available
Schulz Barbara L $1,500,000 Lawyers Title
Multidimentional Inc $1,950,000 Lawyers Title Company
Corry Robert S -- --
Corry Robert -- Lawyers Title Company
Corry Robert -- Lawyers Title Company
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Leon Andrew F $1,286,000
Closed Leon Andrew F $1,400,000
Previous Owner Schulz Barbara Lee $250,000
Previous Owner Schulz Barbara L $500,000
Previous Owner Multidimentional Inc $1,267,500
Previous Owner Corry Robert $690,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
12/26/2012 12/26/12 Sold $2,390,000 0.0% $314 / Sq Ft
11/17/2012 11/17/12 Pending -- -- --
11/01/2012 11/01/12 For Sale $2,390,000 -- $314 / 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 $35,231 $2,943,103 $1,711,680 $1,231,423
2024 $35,231 $2,885,396 $1,678,118 $1,207,278
2023 $34,599 $2,828,820 $1,645,214 $1,183,606
2022 $34,144 $2,773,354 $1,612,955 $1,160,399
2021 $33,373 $2,718,976 $1,581,329 $1,137,647
2019 $32,750 $2,638,331 $1,534,427 $1,103,904
2018 $31,896 $2,586,600 $1,504,341 $1,082,259
2016 $30,714 $2,486,162 $1,445,927 $1,040,235
2015 $30,155 $2,448,818 $1,424,208 $1,024,610
2014 $29,794 $2,400,850 $1,396,310 $1,004,540
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: SB12135919

California Regional Multiple Listing Service (CRMLS)

APN: 4153-025-018