NOT LISTED FOR SALE
5 Beds
5 Baths
3,417 Sq Ft
5,227 Sq Ft Lot

Last Sold December 11, 2014

Last sale price $1,300,000 $380 Per Sq Ft

14 Days on Market

Highlights

  • City Lights View
  • Traditional Architecture
  • Laundry Room
  • Las Palmas Elementary School Rated A-
  • No HOA
  • 3-minute walk to Linda Lane Park

About This Home

As of December 2014

New paint,Newer decking, the roof is three years old with a 20 year warranty, a commercial washer and dryer come with the property and all of the income goes to the owner not to a laundry company.New sectional garage doors. All the units are occupied with long term tenants. The rents are under market but can be increased. It's in the coveted Pier Bowl area and there is beach access 75 yards from the Property between the condos at the end of the street. It's a jewel in the Pier Bowl!
Close to the Pier,Beach and Downtown.

Last Agent to Sell the Property

Peter Hampson

CENTURY 21 Affiliated License #01010560 Listed on: 09/25/2014

CENTURY 21 Affiliated

Last Buyer's Agent

Louis Dillon

Coldwell Banker Realty License #01274376

Coldwell Banker Realty

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1964

Lot Details

  • 5,227 Sq Ft Lot
  • Two or More Common Walls
  • Fence is in excellent condition
  • Density is up to 1 Unit/Acre

Parking

  • 4 Car Garage
  • Parking Available
  • Assigned Parking

Home Design

  • Traditional Architecture
  • Property Attached
  • Turnkey
  • Slab Foundation
  • Asphalt Roof
  • Stucco

Interior Spaces

  • 3,417 Sq Ft Home
  • 2-Story Property
  • Family Room with Fireplace
  • Carpet
  • City Lights Views
  • Laundry Room

Bedrooms and Bathrooms

  • 5 Bedrooms
  • 5 Bathrooms

Additional Features

  • Exterior Lighting
  • Wall Furnace

Listing and Financial Details

  • Tenant pays for cable TV, electricity, gas
  • Tax Lot 21
  • Tax Tract Number 784
  • Assessor Parcel Number 69201222

Community Details

Overview

  • No Home Owners Association
  • 4 Units
  • Foothills
  • Mountainous Community

Amenities

  • Laundry Facilities

Building Details

  • 4 Leased Units
  • 5 Separate Electric Meters
  • 5 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $360
  • Gardener Expense $600
  • Insurance Expense $1,500
  • Trash Expense $880
  • Water Sewer Expense $1,800
  • New Taxes Expense $13,999
  • Gross Income $5,425
  • Net Operating Income $45,611

Property Details

Home Type

Multi-Family

Year Built

Built in 1964

Lot Details

0

Parking

4

Listing Details

  • Assessments: Yes
  • CapRate: 3.07
  • Inclusions: Washer /Dryer
  • Other Phone Description: l
  • Property Attached: Yes
  • View: Yes
  • Water Sewer Expenses: 1800.00
  • Architectural Style: Traditional
  • Property Condition: Turnkey
  • Property Type: Residential Income
  • Gardener Expense: 600.00
  • Parcel Number: 69201222
  • Year Built: 1964
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: Yes
  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Flooring: Carpet
  • Entry Level: 1
  • Fireplace Features: Family Room
  • Levels: Two
  • Price Per Square Foot: 380.45

Exterior Features

  • Foundation: Slab
  • View: City Lights
  • Fencing: Excellent Condition
  • Pool Private: No
  • Roof: Asphalt
  • Construction Materials: Stucco

Garage/Parking

  • Garage Spaces: 4.00
  • Parking: Yes
  • Parking Features: Assigned
  • Total Parking Spaces: 8.00

Utilities

  • Utilities: Sewer Available
  • Heating: Yes
  • Laundry: Yes
  • Heating Type: Wall Furnace
  • Laundry Features: Community
  • Trash Expense: 880.00
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Foothills, Mountainous, Street Lights

Lot Info

  • Lot Features: 0-1 Unit/Acre
  • Lot Size Sq Ft: 5227.00
  • Lot Size Acres: 0.1200

Rental Info

  • Tenant Pays: Cable TV, Electricity, Gas

Multi Family

  • Electric Expense: 360.00
  • Gross Income: 5425.00
  • Gross Multiplier: 21.00
  • Gross Scheduled Income: 65100.00
  • Insurance Expense: 1500.00
  • Lot Size Area: 5227.0000 Square Feet
  • Net Operating Income: 45611.00
  • Number Of Separate Electric Meters: 5
  • Number Of Separate Gas Meters: 5
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 4
  • Number Of Units Total: 4
  • Operating Expense: 19439.00
  • Rent Control: No
  • Total Actual Rent: 5250.00

Tax Info

  • New Taxes Expense: 13999.00
  • Taxes Percent: 1.00
  • Tax Lot: 21
  • Tax Tract Number: 784
  • Tax Year: 2013

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price Change Sq Ft Price
12/11/2014 12/11/14 Sold $1,300,000 -7.1% $380 / Sq Ft
10/09/2014 10/09/14 Pending -- -- --
09/25/2014 09/25/14 For Sale $1,399,000 -- $409 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: OC14206801

California Regional Multiple Listing Service (CRMLS)

APN: 692-012-22