NOT LISTED FOR SALE

2783 Marlborough Ave Redwood City, CA 94063

North Fair Oaks Neighborhood

Estimated Value: $1,657,000 - $2,067,136

5 Beds
3 Baths
2,928 Sq Ft
$647/Sq Ft Est. Value

Last Sold February 28, 2017

Last sale price $1,450,000 $495 Per Sq Ft

Est. 31% increase in value since last sale

Current estimated payment $12,194/month

24 Days on Market

About This Home

As of February 2017

Newly Renovated Duplex with ±2,929 SF of Rentable Space on ±7,875 Square Foot Lot. Excellent Layout: One (1) 3 BR/2 BA Unit, Full Basement, and One (1) 2 BR/1 BA Unit. Close Proximity to Major Peninsula Employers: Box.net, Kaiser, Oracle, Stanford, Facebook, Electronic Arts (EA), and Google. The Owner currently derives $4,600/month for the 3 BR/2 BA Unit (2783 Marlborough) due to the large size, while generating $3,000/month for the 2 BR/1 BA Unit (2793 Marlborough), totaling $7,600/month in rental income - providing for a new owner with substantial current cashflow based on in-place rents. 2 Spacious Units - $7,600/Month in Solid Cashflow – Renovated Units. 4.58% Current Cap Rate / 15.9 Current GRM. Low Expense Ratio & Good Tenants. Solid Rental Property in Redwood City. Pro-Forma Cap Rate: 4.82%. Pro-Forma GRM: 15.3. OPEN HOUSE SCHEDULE BELOW: OPEN HOUSE 1: Thursday, January 19th, 2017 Between 11 AM to 1 PM OPEN HOUSE 2: Tuesday, January 24th, 2017 Between 11 AM to 1 PM

Last Agent to Sell the Property

Don Sung

Colliers Parrish International License #01935797 Listed on: 01/11/2017

Last Buyer's Agent

RECIP

Out of Area Office License #00000000

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $21,518

Year Built

  • 1958

Lot Details

  • 7,884

Parking

  • 3 Car Garage

Home Design

  • Duplex
  • Tar and Gravel Roof

Interior Spaces

  • 2,928 Sq Ft Home
  • 1-Story Property
  • Crawl Space

Additional Features

  • 7,884 Sq Ft Lot
  • Wall Furnace

Listing and Financial Details

  • Total Actual Rent $91,200
  • Month-to-Month Lease Term

Community Details

Overview

Building Details

  • 2 Leased Units
  • Insurance Expense $1,200
  • Maintenance Expense $1,400
  • Other Expense $1,000
  • Utility Expense $650
  • Trash Expense $200
  • Operating Expense $22,114
  • Gross Income $88,464

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$21,518

Year Built

1958

Lot Details

0

Parking

3

Listing Details

  • Zoning: R300S5
  • Subclass: Duplex
  • Age: 59
  • Listing Class: Residential Income (2-4 Units)
  • Structure Sq Ft: 2928
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Year Built: 1958

Interior Features

  • Living Sq Ft: 2928
  • Stories: 1

Exterior Features

  • Foundation: Crawl Space
  • Roof: Tar And Gravel

Garage/Parking

  • Garage Spaces: 3
  • Parking Spaces: 6
  • Garage Parking Features: Attached Garage, Common Parking Area

Utilities

  • Heating System: Wall Furnace
  • Sewer/Septic System: Sewer - Public

Schools

  • School District: Sequoia Union High

Lot Info

  • Lot Acres: 0.1810
  • Lot Size Area Minimum Units: Square Feet
  • Minimum Lot Size: 7875.00
  • Lot Size Area Maximum Units: Square Feet
  • Maximum Lot Size: 7875.00

Rental Info

  • Existing Lease Term(s): 1 Year Lease, Month To Month
  • Gross Rent Multiplier: 15.90
  • Number Of Leased: 2

Multi Family

  • Utilities: Natural Gas
  • Expense Insurance: 1200
  • Expense Maintenance: 1400
  • Expenses Other: 1000
  • Expenses Total: 22114
  • Expenses Utility: 650
  • Expense Trash: 200
  • Income Annual Gross: 88464.00
  • Income Annual Rental: 91200
  • Income Gross Scheduled: 91200
  • Meters: Separate Electric, Separate Gas
  • Number Of Buildings: 1
  • Operating Expenses Include: Fee - Property Management, Fee - Property Tax, Insurance, Maintenance, Utilities - Electric
  • Tenant Expenses: Services - Sewer, Utilities - Electric, Utilities - Gas, Utilities - Heating, Utilities - Hot Water, Utilities - Water
  • Vacancy Factor: 3

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jan 11, 2017
Closed on
Feb 27, 2017
Sold by
Gaia Funding Co Ltd
Bought by
Hsu Jane L and Hsu Charles C
Seller's Agent
Don Sung
Colliers Parrish International
Buyer's Agent
RECIP
Out of Area Office
List Price
$1,450,000
Sold Price
$1,450,000
Current Estimated Value
$1,899,632

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$449,632
Avg. Annual Appreciation
3.11%

Purchase Details

Listed on
Nov 30, 2015
Closed on
Jan 28, 2016
Sold by
Pc Ohana Llc
Bought by
Gaia Funding Co Ltd
Seller's Agent
Martha Madera
Nu Level Realty, Inc.
Buyer's Agent
Jennifer Evans
eXp Realty of California
List Price
$989,000
Sold Price
$1,350,000
Premium/Discount to List
$361,000
36.5%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
7.04%
Original Mortgage
$945,000
Interest Rate
3.98%
Mortgage Type
Future Advance Clause Open End Mortgage

Purchase Details

Closed on
Sep 14, 2015
Sold by
Phoenix Holdings Group Inc
Bought by
Pc Ohana Llc

Purchase Details

Closed on
Oct 1, 2014
Sold by
Astilla Dennis and Astilla Diane
Bought by
Phoenix Holdings Group Inc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$372,000
Interest Rate
4.17%
Mortgage Type
Construction

Purchase Details

Closed on
Jul 19, 2004
Sold by
Valadez Maria L
Bought by
Astilla Dennis and Astilla Diane

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$600,000
Interest Rate
7.2%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
May 15, 2003
Sold by
Valadez Maria L
Bought by
Valadez Maria L

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$213,000
Interest Rate
5.75%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Dec 13, 2001
Sold by
Merino Eloy
Bought by
Valadez Maria L

Purchase Details

Closed on
Jan 5, 2000
Sold by
Maria Jimenez and Maria L
Bought by
Valadez Maria L

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$41,647
Interest Rate
7.82%

Purchase Details

Closed on
Nov 22, 1999
Sold by
Refugio Valadez
Bought by
Valadez Maria L

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$41,647
Interest Rate
7.82%
Source: Public Records

Range of Values:

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Average Value
Not Available
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
Hsu Jane L $1,450,000 First American Title Company
Gaia Funding Co Ltd $1,350,000 North American Title Co Inc
Pc Ohana Llc -- None Available
Phoenix Holdings Group Inc $630,000 Chicago Title Company
Astilla Dennis $750,000 Financial Title Company
Valadez Maria L -- Tcs
Valadez Maria L -- --
Valadez Maria L -- --
Valadez Maria L $42,000 First American Title Co
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Gaia Funding Co Ltd $945,000
Previous Owner Phoenix Holdings Group Inc $151,000
Previous Owner Phoenix Holdings Group Inc $645,000
Previous Owner Phoenix Holdings Group Inc $372,000
Previous Owner Phoenix Holdings Group Inc $660,000
Previous Owner Astilla Dennis $682,500
Previous Owner Astilla Dennis $96,000
Previous Owner Astilla Dennis $600,000
Previous Owner Valadez Maria L $100,000
Previous Owner Valadez Maria L $213,000
Previous Owner Valadez Maria L $41,647
Closed Astilla Dennis $150,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
02/28/2017 02/28/17 Sold $1,450,000 0.0% $495 / Sq Ft
02/05/2017 02/05/17 Pending -- -- --
01/11/2017 01/11/17 For Sale $1,450,000 +7.4% $495 / Sq Ft
02/12/2016 02/12/16 Sold $1,350,000 +36.5% $461 / Sq Ft
12/25/2015 12/25/15 Pending -- -- --
11/30/2015 11/30/15 For Sale $989,000 -- $338 / Sq Ft
Source: MLSListings

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 $21,518 $1,682,842 $986,494 $696,348
2023 $21,518 $1,617,497 $948,188 $669,309
2022 $20,102 $1,585,783 $929,597 $656,186
2021 $19,874 $1,554,690 $911,370 $643,320
2020 $19,586 $1,538,750 $902,026 $636,724
2019 $19,400 $1,508,580 $884,340 $624,240
2018 $18,752 $1,479,000 $867,000 $612,000
2017 $17,394 $1,377,000 $855,780 $521,220
2016 $12,082 $907,000 $732,000 $175,000
2015 $8,767 $630,000 $315,000 $315,000
2014 $11,127 $852,814 $426,407 $426,407
Source: Public Records

Agents Affiliated with this Home

  • D

    Seller's Agent in 2017

    Don Sung

    Colliers Parrish International

    Section Image

  • R

    Buyer's Agent in 2017

    RECIP

    Out of Area Office

  • Martha Madera

    Seller's Agent in 2016

    Martha Madera

    Nu Level Realty, Inc.

    (650) 922-9575

    18 Total Sales

    Section Image

  • J

    Buyer's Agent in 2016

    Jennifer Evans

    eXp Realty of California

    (510) 304-0201

    2 Total Sales

    Section Image
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Map

Source: MLSListings

MLS Number: ML81635322

MLSListings

APN: 054-274-150

California San Mateo County Redwood City 94063 North Fair Oaks

2783 Marlborough Ave, Redwood City, CA

This home is located at 2783 Marlborough Ave, Redwood City, CA 94063 since 11 January 2017 and is currently estimated at $1,893,034, approximately $646 per square foot. This property was built in 1958. 2783 Marlborough Ave is a home located in San Mateo County with nearby schools including Garfield Elementary School, John F. Kennedy Middle School, and Woodside High School.

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