NOT LISTED FOR SALE

293 Neptune Ave Unit 95 Encinitas, CA 92024

Estimated Value: $4,667,000 - $6,410,000

6 Beds
4 Baths
-- Sq Ft
5,889 Sq Ft Lot

Last Sold December 11, 2015

Last sale price $1,650,000

Est. 229% increase in value since last sale

Current estimated payment $33,328/month

158 Days on Market

About This Home

As of December 2015

Re-positioning *** Renovation *** Remodel *** Redevelopment Opportunity! Large, townhouse style duplex just steps from the ocean cliffs in Encinitas. Over 4,000 SF of permitted space, plus additional basement space. Blank slate ready for an investor to create real value! Currently master-leased through 2017, allowing a developer passive income of $11,500 per month for two years while in the re-development process. An astute investor will realize the value upside of a deal this well-located Encinitas.

Last Listed By

Aaron Marcusmillichap

Marcus & Millichap License #01318320 Listed on: 04/28/2015

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $35,474

Year Built

  • Built in 1972

Lot Details

  • 5,889 Sq Ft Lot
  • Partially Fenced Property

Home Design

  • Stucco Exterior

Interior Spaces

  • 2-Story Property

Community Details

  • 2 Units
  • Net Operating Income $100,345

Listing and Financial Details

  • Tenant pays for electricity, gas/propane
  • Assessor Parcel Number 256-351-33-00

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$35,474

Year Built

Built in 1972

Lot Details

0

Listing Details

  • Class: 2-4 UNITS
  • Type: Res Income 2-4 Units
  • Market Area: Coastal North
  • Cross Street: S. El Portal
  • Neighborhood: West of I-5
  • Stories: 2 Story
  • Sale Price List Price: 0.87
  • Total Stories: 2
  • Year Built: 1972
  • Allow Comments Review: Yes
  • Internet Address Field: Full Address
  • Internet Syndication Y N: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily

Exterior Features

  • Exterior Material: Stucco
  • Fencing: Partial

Utilities

  • Cooling: Central Forced Air

Condo/Co-op/Association

  • Community: ENCINITAS

Lot Info

  • Lot Size: 4,000-7,499 SF
  • Assessor Parcel Number: 256-351-33-00
  • Land Use Code: R2
  • Estimated Lot Sq Ft: 5889

Rental Info

  • Tenant Pays: Electricity, Gas/Propane

Multi Family

  • No. of Units: 2
  • Actual Net Operating Income: 100345
  • Annual Expense Actual: 36394
  • Gross Rent Multiplier Actual: 16.12
  • Gross Sched Income Actual: 138000
  • Number Of Buildings: 1
  • Number Of Units With Dishwashers: 2
  • Number Of Units With Dryers: 2
  • Number Of Units With Garage: 2
  • Number Of Units With Patios: 2
  • Number Of Units With Range Oven: 2
  • Number Of Units With Refrigerator: 2
  • Number Of Units With Washers: 2

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Jan 24, 2020
Sold by
Meardon Vincent
Bought by
Licata Anna and Licata Giovanna
Total Days on Market
158
Current Estimated Value
$5,426,022

Purchase Details

Closed on
May 1, 2018
Sold by
Meardon Vincent
Bought by
Meardon Vincent

Purchase Details

Closed on
Feb 21, 2018
Sold by
Meardon Paul H
Bought by
Meardon Vincent

Purchase Details

Listed on
Apr 28, 2015
Closed on
Dec 2, 2015
Sold by
Sutter Leslie E
Bought by
Meardon Paul H
Seller's Agent
Aaron Marcusmillichap
Marcus & Millichap
Buyer's Agent
Aaron Marcusmillichap
Marcus & Millichap
List Price
$2,500,000
Sold Price
$1,650,000
Premium/Discount to List
-$850,000
-34%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
12.64%
Original Mortgage
$750,000
Interest Rate
3.5%
Mortgage Type
Adjustable Rate Mortgage/ARM

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
Licata Anna $2,800,000 None Available
Meardon Vincent -- None Available
Meardon Vincent $1,675,000 None Available
Meardon Paul H $1,650,000 Fidelity National Title Co
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Meardon Paul H $750,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
12/11/2015 12/11/15 Sold $1,650,000 -34.0% --
10/02/2015 10/02/15 Pending -- -- --
04/27/2015 04/27/15 For Sale $2,500,000 -- --
Source: San Diego MLS

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 $35,474 $3,216,604 $1,983,572 $1,233,032
2023 $34,674 $3,153,534 $1,944,679 $1,208,855
2022 $33,377 $3,091,701 $1,906,549 $1,185,152
2021 $33,607 $3,031,080 $1,869,166 $1,161,914
2020 $32,031 $2,828,460 $1,716,660 $1,111,800
2019 $26,756 $2,333,500 $1,683,000 $650,500
2018 $20,346 $1,716,660 $1,560,600 $156,060
2017 $19,779 $1,683,000 $1,530,000 $153,000
2016 $18,817 $1,650,000 $1,500,000 $150,000
2015 $5,633 $415,372 $131,909 $283,463
2014 $5,587 $407,237 $129,326 $277,911
Source: Public Records

Agents Affiliated with this Home

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Map

Source: San Diego MLS

MLS Number: 150022473

San Diego MLS

APN: 256-351-33

California San Diego County Encinitas 92024

293 Neptune Ave Unit 95, Encinitas, CA

Homes for Sale in Encinitas, CA

This home is located at 293 Neptune Ave Unit 95, Encinitas, CA 92024 since 28 April 2015 and is currently estimated at $5,426,022. This property was built in 1972. 293 Neptune Ave Unit 95 is a home located in San Diego County with nearby schools including Paul Ecke-Central Elementary, Diegueno Middle School, and La Costa Canyon High School.

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