NOT LISTED FOR SALE

Estimated Value: $2,593,269

-- Bed
-- Bath
2,500 Sq Ft
$1,037/Sq Ft Est. Value

Last Sold October 23, 2012

Last sale price $975,000 $390 Per Sq Ft

Est. 166% increase in value since last sale

Current estimated payment $14,301/month

67 Days on Market

Highlights

  • Ocean View
  • Ocean Side of Freeway
  • No Heating
  • Las Palmas Elementary School Rated A-
  • Spanish Architecture

About This Home

As of October 2012

Rare opportunity to own a mixed use, historical property near downtown San Clemente! This classic 'Ole Hanson' building consists of approx. 1500 sq. ft of commercial space which is currently being used as an office and 2 residential units. The residential part consists of 1 larger 1bdr/1ba unit and 1 smaller studio apartment (approx. 1000 sq. ft total). The 1 bdr/1ba residential unit is on the top floor, with a brand new ocean view deck, vaulted ceilings, and fireplace. The 2nd residential unit is below the 1bdr and is a studio apartment with full bath. Street to street lot, El Camino Real to Ave. De La Estrella, w/parking on Estrella.The commercial space has endless possibilities; the space is absolutely charming with wood beam cathedral ceilings. Restaurant style kitchen. Beautiful outdoor patio spaces. Multiple decks as well. Plenty of storage areas. This type of property is rarely available. This property should qualify for the Mills Act, which means greatly reduced property taxes.

Last Agent to Sell the Property

Jeremy Conrad

Conrad Realtors Inc License #01279209 Listed on: 08/01/2012

Last Buyer's Agent

Bill Conrad

Conrad Realtors Inc License #01461548

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $7,108

Year Built

  • Built in 1927

Lot Details

  • 4,000

Parking

  • 2 Parking Spaces

Home Design

  • Spanish Architecture
  • Spanish Tile Roof
  • Clay Roof
  • Stucco

Interior Spaces

  • 2,500 Sq Ft Home
  • Fireplace Features Masonry
  • Ocean Views

Utilities

  • No Heating
  • Sewer Paid

Additional Features

  • Ocean Side of Freeway
  • 4,000 Sq Ft Lot

Listing and Financial Details

  • Tenant pays for electricity, gas, water
  • Tax Lot 79
  • Tax Tract Number 789
  • Assessor Parcel Number 05713313

Community Details

Overview

  • 3 Units

Building Details

  • 1 Separate Electric Meter
  • 1 Separate Gas Meter
  • 1 Separate Water Meter
  • Insurance Expense $2,000
  • Trash Expense $360
  • New Taxes Expense $2,000
  • Gross Income $5,500
  • Net Operating Income $59,500

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$7,108

Year Built

Built in 1927

Lot Details

0

Listing Details

  • Assessments: No
  • CapRate: 5.98
  • View: Yes
  • Architectural Style: Spanish
  • Property Type: Residential Income
  • Parcel Number: 05713313
  • Year Built: 1927
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: No
  • Appliances: No
  • Fireplace Features: Masonry
  • Levels: Three Or More
  • Price Per Square Foot: 390.00

Exterior Features

  • View: Ocean
  • Pool Private: No
  • Roof: Clay, Spanish Tile
  • Spa: No
  • Construction Materials: Stucco

Garage/Parking

  • Parking: No
  • Total Parking Spaces: 2.00

Utilities

  • Utilities: Sewer Connected
  • Heating: No
  • Laundry: No
  • Sewer: Sewer Paid
  • Trash Expense: 360.00
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No

Lot Info

  • Lot Size Sq Ft: 4000.00
  • Lot Size Acres: 0.0920

Rental Info

  • Tenant Pays: Electricity, Gas, Water

Multi Family

  • Gross Income: 5500.00
  • Gross Multiplier: 15.08
  • Gross Scheduled Income: 66000.00
  • Insurance Expense: 2000.00
  • Lot Size Area: 4000.0000 Square Feet
  • Net Operating Income: 59500.00
  • Number Of Separate Electric Meters: 1
  • Number Of Separate Gas Meters: 1
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 3
  • Operating Expense: 6500.00
  • Waterfront Features: Ocean Side of Freeway

Tax Info

  • New Taxes Expense: 2000.00
  • Tax Area: 10000
  • Tax Lot: 79
  • Tax Tract Number: 789

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Aug 1, 2012
Closed on
Sep 26, 2012
Sold by
Napiorkowska Malgorzata
Bought by
Dahabreh Ghassan
Seller's Agent
Jeremy Conrad
Conrad Realtors Inc
Buyer's Agent
Bill Conrad
Conrad Realtors Inc
List Price
$995,000
Sold Price
$975,000
Premium/Discount to List
-$20,000
-2.01%
Current Estimated Value
$2,593,269

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$1,618,269
Avg. Annual Appreciation
7.82%
Original Mortgage
$450,000
Outstanding Balance
$310,646
Interest Rate
3.52%
Mortgage Type
Commercial
Estimated Equity
$2,282,623

Purchase Details

Listed on
Aug 1, 2012
Closed on
Sep 18, 2012
Sold by
Langdell Cheri
Bought by
Dahabreh Ghassan
Seller's Agent
Jeremy Conrad
Conrad Realtors Inc
Buyer's Agent
Bill Conrad
Conrad Realtors Inc
List Price
$995,000
Sold Price
$975,000
Premium/Discount to List
-$20,000
-2.01%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$450,000
Outstanding Balance
$310,646
Interest Rate
3.52%
Mortgage Type
Commercial
Estimated Equity
$2,282,623

Purchase Details

Closed on
Apr 19, 2012
Sold by
Langdell Cheri and Rouse Keith
Bought by
Langdell Cheri

Purchase Details

Closed on
Aug 2, 2010
Sold by
First Citizens Bank
Bought by
First Citizens Bank

Purchase Details

Closed on
Nov 30, 2001
Sold by
Colby Mary E
Bought by
Colby Mary E
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
Dahabreh Ghassan -- Lawyers Title
Dahabreh Ghassan $975,000 Lawyers Title
Langdell Cheri $250,000 None Available
First Citizens Bank -- None Available
Colby Mary E -- --
Colby Mary E -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Dahabreh Ghassan $450,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
10/23/2012 10/23/12 Sold $975,000 -2.0% $390 / Sq Ft
10/07/2012 10/07/12 Pending -- -- --
08/01/2012 08/01/12 For Sale $995,000 -- $398 / 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 $7,108 $775,337 $605,113 $170,224
2024 $7,108 $700,728 $547,009 $153,719
2023 $7,825 $772,822 $606,790 $166,032
2022 $8,726 $861,547 $662,009 $199,538
2021 $8,270 $816,208 $625,251 $190,957
2020 $7,642 $753,819 $572,704 $181,115
2019 $7,353 $725,310 $546,797 $178,513
2018 $6,763 $745,688 $623,935 $121,753
2017 $6,824 $672,707 $642,004 $30,703
2016 $5,972 $588,176 $462,139 $126,037
2015 $4,612 $453,858 $309,555 $144,303
2014 $4,574 $449,927 $306,873 $143,054
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: S708119

California Regional Multiple Listing Service (CRMLS)

APN: 057-133-13