NOT LISTED FOR SALE

Estimated Value: $2,126,000 - $2,688,000

4 Beds
4 Baths
1,356 Sq Ft
$1,821/Sq Ft Est. Value

Last Sold October 16, 2017

Last sale price $1,710,000 $1,261 Per Sq Ft

Est. 44% increase in value since last sale

Current estimated payment $14,716/month

57 Days on Market

Highlights

  • Ocean View
  • No HOA
  • Wall Furnace
  • Grand View Elementary School Rated A
  • Laundry Room

About This Home

As of October 2017

Beautiful, ocean view duplex, just two short blocks from the beach. Great investment opportunity in the desirable Manhattan Beach. The addresses are 305, and 307 Gull Street. Each unit has two bedrooms and two bathrooms, along with two car parking each. Both units have their own washer and dryer. The top unit has access to a large roof top deck with panoramic ocean views!

Can easily be converted into a Single Family Home.

Last Agent to Sell the Property

Sharon Sackley

First Manhattan REALTORS License #01829175 Listed on: 07/06/2017

Last Buyer's Agent

Carole Hansen

Engel & Völkers LA-South Bay License #00688380

Engel & Völkers LA-South Bay

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1958

Lot Details

  • 1,590 Sq Ft Lot
  • No Common Walls
  • Density is up to 1 Unit/Acre

Parking

  • 3 Car Garage
  • 1 Carport Space

Interior Spaces

  • 1,356 Sq Ft Home
  • 2-Story Property
  • Ocean Views

Bedrooms and Bathrooms

  • 4 Bedrooms
  • 4 Bathrooms

Laundry

  • Laundry Room
  • Laundry Located Outside

Additional Features

  • Exterior Lighting
  • Wall Furnace

Listing and Financial Details

  • Tax Lot 2
  • Tax Tract Number 6202
  • Assessor Parcel Number 4137004025

Community Details

Overview

  • No Home Owners Association
  • 2 Units

Building Details

  • 2 Leased Units
  • 2 Separate Electric Meters
  • 2 Separate Gas Meters
  • 2 Separate Water Meters
  • Insurance Expense $1,200
  • Trash Expense $2,400
  • New Taxes Expense $18,750
  • Operating Expense $2,400
  • Gross Income $1,500
  • Net Operating Income $66,300

Property Details

Home Type

Multi-Family

Year Built

Built in 1958

Lot Details

0

Parking

3

Listing Details

  • Assessments: No
  • Property Attached: No
  • View: Yes
  • Zoning: MNRH
  • Property Type: Residential Income
  • Parcel Number: 4137004025
  • Year Built: 1958
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: No
  • Stories: 2
  • Common Walls: No Common Walls
  • Levels: Two
  • Price Per Square Foot: 1261.06

Exterior Features

  • View: Ocean
  • Pool Private: No

Garage/Parking

  • Carport Spaces: 1.00
  • Garage Spaces: 3.00
  • Total Parking Spaces: 4.00

Utilities

  • Heating: Yes
  • Laundry: Yes
  • Heating Type: Wall Furnace
  • Laundry Features: Inside, Outside
  • Sewer: Public Sewer
  • Trash Expense: 2400.00
  • Water Source: Public

Condo/Co-op/Association

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

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 0-1 Unit/Acre
  • Lot Size Sq Ft: 1590.00

Multi Family

  • Garage Income: 125.00
  • Gross Income: 1500.00
  • Gross Scheduled Income: 68700.00
  • Insurance Expense: 1200.00
  • Net Operating Income: 66300.00
  • Number Of Rented Garages: 1
  • Number Of Separate Electric Meters: 2
  • Number Of Separate Gas Meters: 2
  • Number Of Separate Water Meters: 2
  • Number Of Units Leased: 2
  • Number Of Units Total: 2
  • Operating Expense: 2400.00
  • Rent Control: No
  • Total Actual Rent: 5900.00
  • Total Expenses: 2400.00

Tax Info

  • New Taxes Expense: 18750.00
  • Tax Census Tract: 6202.01
  • Tax Lot: 2
  • Tax Tract Number: 6202

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Nov 11, 2022
Sold by
Panitz Eric A
Bought by
Eric A Panitz Living Trust and Panitz
Current Estimated Value
$2,468,843

Purchase Details

Listed on
Jul 6, 2017
Closed on
Sep 25, 2017
Sold by
Sand Section Properties Llc
Bought by
Panitz Eric A
Seller's Agent
Sharon Sackley
First Manhattan REALTORS
Buyer's Agent
Carole Hansen
Engel & Völkers LA-South Bay
List Price
$1,895,000
Sold Price
$1,710,000
Premium/Discount to List
-$185,000
-9.76%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
4.57%
Original Mortgage
$1,368,000
Interest Rate
3.5%
Mortgage Type
Adjustable Rate Mortgage/ARM

Purchase Details

Closed on
Nov 9, 2012
Sold by
Adams Kevin A and Adams Dena
Bought by
Sand Section Properties Llc

Purchase Details

Closed on
Aug 10, 2012
Sold by
Northrop Holly and Adams Kevin
Bought by
Sand Section Properties Llc

Purchase Details

Closed on
Jun 27, 2011
Sold by
Hernandez Richard
Bought by
Northrop Holly

Purchase Details

Closed on
Jul 19, 2010
Sold by
Northrop Holly and Adams Kevin
Bought by
Sand Section Properties Llc

Purchase Details

Closed on
Jun 25, 2010
Sold by
Sand Section Properties Llc
Bought by
Northrop Holly and Adams Kevin

Purchase Details

Closed on
Jun 26, 2009
Sold by
Northrop Holly and Adams Kevin
Bought by
Sand Section Properties Llc

Purchase Details

Closed on
Oct 9, 2008
Sold by
Adams Dena
Bought by
Adams Kevin

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$531,000
Interest Rate
5.9%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Sep 30, 2008
Sold by
Freitas Karen
Bought by
Northrop Holly and Adams Kevin

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$531,000
Interest Rate
5.9%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Jul 7, 1998
Sold by
Brigante Bradley J
Bought by
Freitas Karen

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$303,000
Interest Rate
6.92%

Purchase Details

Closed on
Sep 17, 1997
Sold by
Durward Lorne J and Durward Dixie F
Bought by
Brigante Bradley J

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$260,000
Interest Rate
7.12%
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
Eric A Panitz Living Trust -- None Listed On Document
Panitz Eric A $1,710,000 Wfg National Title Company
Sand Section Properties Llc -- None Available
Adams Kevin -- Progressive Title Company
Sand Section Properties Llc -- Accommodation
Northrop Holly -- Accommodation
Adams Kevin -- Accommodation
Northrop Holly -- Accommodation
Sand Section Properties Llc -- Accommodation
Northrop Holly -- Accommodation
Northrop Holly -- Accommodation
Adams Kevin -- Accommodation
Sand Section Properties Llc -- None Available
Adams Kevin -- Fidelity National Title Co
Northrop Holly -- Fidelity National Title Co
Northrop Holly $885,000 Fidelity National Title Co
Freitas Karen $380,000 Provident Title Company
Brigante Bradley J $325,000 Lawyers Title Company
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Panitz Eric A $1,368,000
Previous Owner Northrop Holly $531,000
Previous Owner Freitas Karen $303,000
Previous Owner Brigante Bradley J $260,000
Closed Brigante Bradley J $32,500
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
10/16/2017 10/16/17 Sold $1,710,000 -6.3% $1,261 / Sq Ft
09/01/2017 09/01/17 Pending -- -- --
08/25/2017 08/25/17 Price Changed $1,825,000 -3.7% $1,346 / Sq Ft
07/06/2017 07/06/17 For Sale $1,895,000 -- $1,397 / 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 $21,824 $1,945,683 $1,348,325 $597,358
2024 $21,824 $1,907,534 $1,321,888 $585,646
2023 $21,245 $1,870,132 $1,295,969 $574,163
2022 $20,878 $1,833,463 $1,270,558 $562,905
2021 $20,540 $1,797,514 $1,245,646 $551,868
2019 $19,988 $1,744,200 $1,208,700 $535,500
2018 $19,593 $1,710,000 $1,185,000 $525,000
2017 $11,329 $983,854 $898,757 $85,097
2016 $10,847 $964,564 $881,135 $83,429
2015 $10,624 $950,076 $867,900 $82,176
2014 $10,484 $931,467 $850,900 $80,567
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: SB17152913

California Regional Multiple Listing Service (CRMLS)

APN: 4137-004-025