NOT LISTED FOR SALE

3050 Pacheco Pass Hwy Gilroy, CA 95020

7 Beds
3 Baths
2,061 Sq Ft
24.8 Acres

Last Sold August 06, 2018

Last sale price $1,350,000 $655 Per Sq Ft

7 Days on Market

Highlights

  • 24.8 Acre Lot
  • Agricultural
  • Space Heater
  • Orchard Views
  • Water Treatment System
  • Washer and Dryer

About This Home

As of August 2018

Amazing property! Income property plus 23 acres of farmland! GRM: 18.8 actual/13.5 proforma. CAP: 4.3 actual/6.4% proforma (numbers include estimated Fruit Stand income). Multiple streams of income: 3 rental units (original 3/1 house, barn converted to a 3/1, garage converted to nice 1/1) earning $36,000 (HUGE rental upside and no rent control!), 23 acres currently leased at $9,775/year, a permitted fruit stand that could net at least $24,000/year. Many other ways this property could generate income. Rents are about half what they should be. The property has 24.8 total acres on 2 parcels, 841-50-027 (13.8 acres) & 841-50-028 (11.0 acres) with fruit trees, grapes, vegetables, a utility shed, a "treehouse" for the kids, and 2 creeks at the back of the property. Property is on PG&E for both gas and electricity. Private well produces plenty of water to irrigate all 23 farmed acres and more. The 23 farmed acres are leased through Oct 31, 2018.

Last Agent to Sell the Property

Robert Moore

Losness Investment Real Estate Corp License #01908682 Listed on: 05/23/2018

Last Buyer's Agent

ROMAN SINGH NAHAL

Real Estate eBroker Inc License #02019018

Real Estate eBroker Inc

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $10,465

Year Built

  • 1962

Lot Details

  • 24.8 Acre Lot
  • Level Lot

Property Views

  • Orchard Views
  • Mountain Views

Home Design

  • Triplex
  • Wood Frame Construction
  • Shingle Roof
  • Composition Roof
  • Metal Roof
  • Concrete Perimeter Foundation
  • Masonry

Interior Spaces

  • 2,061 Sq Ft Home
  • 1-Story Property
  • Washer and Dryer

Parking

  • Covered Parking
  • Uncovered Parking
  • Off-Street Parking

Outdoor Features

  • Seasonal Stream

Farming

  • Agricultural
  • Farm Animals Allowed

Utilities

  • Space Heater
  • Heating System Uses Gas
  • Water Treatment System
  • Water Storage
  • Well
  • Septic Tank

Listing and Financial Details

  • Total Actual Rent $36,000

Community Details

Overview

  • 2,061 Sq Ft Building

Building Details

  • 3 Leased Units
  • Insurance Expense $2,000
  • Maintenance Expense $5,000
  • Utility Expense $1,700
  • Trash Expense $1,500
  • Operating Expense $13,350
  • Gross Income $70,000

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$10,465

Year Built

1962

Lot Details

0

Listing Details

  • Zoning: A-40Ac-sr
  • Subclass: Triplex
  • Age: 56
  • Listing Class: Residential Income (2-4 Units)
  • Structure Sq Ft: 2061
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Year Built: 1962

Interior Features

  • Living Sq Ft: 2061
  • Stories: 1
  • Laundry: Washer/Dryer - Some Units

Exterior Features

  • Foundation: Concrete Perimeter And Slab
  • Roof: Composition, Metal, Shingle
  • View: Mountains, Orchard
  • Construction Type: Masonry, Wood Frame

Garage/Parking

  • Garage Parking Features: Common Parking Area, Off-Street Parking, Room For Oversized Vehicle, Uncovered Parking

Utilities

  • Heating System: Gas, Space Heater
  • Sewer/Septic System: Existing Septic

Schools

  • School District: Gilroy Unified
  • Elementary School: Rucker Elementary
  • Middle School: Solorsano Middle
  • High School: Gilroy High
  • High School: 277
  • Elementary School: 1077
  • Middle School: 1075

Lot Info

  • Lot Description: Agricultural Use, Farm Animals (Permitted), Grade - Level, Stream - Seasonal, Surveyed, Views
  • Lot Acres: 24.8000
  • Lot Size Area Minimum Units: Square Feet
  • Minimum Lot Size: 1080288.00
  • Lot Size Area Maximum Units: Square Feet
  • Maximum Lot Size: 1080288.00

Rental Info

  • Existing Lease Term(s): Month To Month
  • Gross Rent Multiplier: 18.56
  • Number Of Leased: 3

Multi Family

  • Utilities: Natural Gas, Public Utilities
  • Expense Insurance: 2000
  • Expense Maintenance: 5000
  • Expenses Total: 13350
  • Expenses Utility: 1700
  • Expense Trash: 1500
  • Income Annual Gross: 70000.00
  • Income Annual Rental: 36000
  • Income Gross Scheduled: 70000
  • Income Includes: Crop(s), Land, Lease
  • Income Other: 34000
  • Meters: Master Electric, Master Gas, Separate Electric
  • Number Of Buildings: 3
  • Operating Expenses Include: Fee - Property Tax, Insurance, Maintenance, Services - Trash Removal, Utilities - Electric, Utilities - Gas
  • Tenant Expenses: Maintenance - Exterior, Maintenance - Interior, Services - Gardener/Landscaping, Services - Trash Removal

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
May 23, 2018
Closed on
Aug 3, 2018
Sold by
Chen Wei
Bought by
Garlic City Properties Llc
Seller's Agent
Robert Moore
Losness Investment Real Estate Corp
Buyer's Agent
ROMAN SINGH NAHAL
Real Estate eBroker Inc
List Price
$1,299,000
Sold Price
$1,350,000
Premium/Discount to List
$51,000
3.93%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$882,000
Outstanding Balance
$765,981
Interest Rate
4.5%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Listed on
Dec 1, 2017
Closed on
Mar 29, 2018
Sold by
San Jose Tallow Properties Llc
Bought by
Chen Wei
Seller's Agent
Dan Gluhaich
Intero Real Estate Services
Buyer's Agent
Robert Moore
Losness Investment Real Estate Corp
List Price
$1,299,000
Sold Price
$1,260,000
Premium/Discount to List
-$39,000
-3%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
21.79%

Purchase Details

Listed on
Dec 10, 2014
Closed on
Oct 4, 2017
Sold by
Gabriel Susan M
Bought by
San Jose Tallow Properties Llc
Seller's Agent
Dan Gluhaich
Intero Real Estate Services
Buyer's Agent
Dan Gluhaich
Intero Real Estate Services
List Price
$1,395,000
Sold Price
$1,150,000
Premium/Discount to List
-$245,000
-17.56%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
20.96%

Purchase Details

Closed on
Jun 19, 2009
Sold by
Fukagawa Tomoye and Gabriel Susan M
Bought by
Fukagawa Tomoye and Gabriel Susan M
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
Garlic City Properties Llc $1,350,000 Lawyers Title Co
Chen Wei $1,260,000 Stewart Title Of California
San Jose Tallow Properties Llc $1,150,000 Stewart Title Of California
Fukagawa Tomoye -- None Available
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Garlic City Properties Llc $882,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
08/06/2018 08/06/18 Sold $1,350,000 +3.9% $655 / Sq Ft
05/31/2018 05/31/18 Pending -- -- --
05/23/2018 05/23/18 For Sale $1,299,000 +3.1% $630 / Sq Ft
03/31/2018 03/31/18 Sold $1,260,000 -3.0% --
02/27/2018 02/27/18 Pending -- -- --
12/01/2017 12/01/17 For Sale $1,299,000 +13.0% --
10/06/2017 10/06/17 Sold $1,150,000 -17.6% --
07/27/2017 07/27/17 Pending -- -- --
12/10/2014 12/10/14 For Sale $1,395,000 -- --
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 $10,465 $851,667 $472,395 $379,272
2024 $10,465 $843,496 $471,660 $371,836
2023 $10,459 $832,643 $468,097 $364,546
2022 $10,290 $817,822 $460,423 $357,399
2021 $10,261 $803,292 $452,900 $350,392
2020 $10,093 $791,580 $444,780 $346,800
2019 $9,964 $773,665 $433,665 $340,000
2018 $6,183 $505,232 $345,232 $160,000
2017 $3,096 $236,145 $179,210 $56,935
2016 $3,004 $229,688 $173,869 $55,819
2015 $2,844 $227,173 $172,192 $54,981
2014 $1,391 $105,628 $72,819 $32,809
Source: Public Records

Agents Affiliated with this Home

  • R

    Seller's Agent in 2018

    Robert Moore

    Losness Investment Real Estate Corp

    Section Image
  • Dan Gluhaich

    Seller's Agent in 2018

    Dan Gluhaich

    Intero Real Estate Services

    (408) 461-0263

    43 Total Sales

    Dan Gluhaich
    Section Image
  • ROMAN SINGH NAHAL

    Buyer's Agent in 2018

    ROMAN SINGH NAHAL

    Real Estate eBroker Inc

    (408) 472-1057

    7 Total Sales

    ROMAN SINGH NAHAL
    Section Image
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Map

Source: MLSListings

MLS Number: ML81706900

MLSListings

APN: 841-50-027

California Santa Clara County Gilroy 95020

3050 Pacheco Pass Hwy, Gilroy, CA

This home is located at 3050 Pacheco Pass Hwy, Gilroy, CA 95020 since 23 May 2018. This property was built in 1962. 3050 Pacheco Pass Hwy is a home located in Santa Clara County with nearby schools including Rucker Elementary School, Solorsano Middle School, and Gilroy High School.

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