NOT LISTED FOR SALE
6 Beds
4 Baths
2,547 Sq Ft
3,920 Sq Ft Lot

Sale Details

Date Sold: July 19, 2018

Last sale price $1,525,000 $599 Per Sq Ft

4 Days on Market

Highlights

  • Ocean View
  • No HOA
  • Drip System Landscaping
  • Marco Forster Middle School Rated A-
  • Laundry Room
  • 4-minute walk to Lantern Village Community Park

About This Home

As of July 2018

Adorable 3-unit building on a nice single loaded street just above PCH in the Lantern District. Most of the properties on the block are single-family residences. The building has been well maintained with major improvements in recent years such as roof, garage doors, water heaters, termite and siding work. The exterior was just painted, drip irrigation and new landscaping installed, as well as interior remodel of all three units. Unit A is a 2 bed / 1 bath lower unit with courtyard. Unit B is an upper unit and is the larger of the three with 2 beds / 2 baths. There’s an en suite bath for the master bedroom and a fireplace in the living room with a peak ocean view for this unit too. Unit C is the back upper unit with 2 bed / 1 bath and a patio off the living room. All interiors have luxury vinyl plank flooring throughout, LED lighting, new baseboards and casing, cabinetry, window treatments, quartz counters and appliances. All appliances landlord owned. There’s a small onsite laundry room with leased units on a month to month basis.

Last Agent to Sell the Property

Mary Golding

Christie's International R.E. Southern California License #01865418 Listed on: 06/15/2018

Christie's International R.E. Southern California

Last Buyer's Agent

Christopher Cumming

Pacific Sotheby's Int'l Realty License #01956488

Pacific Sotheby's Int'l Realty
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Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1962

Lot Details

  • 3,920 Sq Ft Lot
  • No Common Walls
  • Drip System Landscaping
  • Sprinkler System

Parking

  • 3 Car Garage
  • Parking Available
  • Assigned Parking

Property Views

  • Ocean
  • Peek-A-Boo

Home Design

  • Composition Roof

Interior Spaces

  • 2,547 Sq Ft Home
  • 2-Story Property
  • Window Screens

Bedrooms and Bathrooms

  • 6 Bedrooms
  • 4 Bathrooms

Laundry

  • Laundry Room
  • Leased Washer and Dryer

Home Security

  • Carbon Monoxide Detectors
  • Fire and Smoke Detector

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Tax Lot 16
  • Tax Tract Number 861
  • Assessor Parcel Number 68209140

Community Details

Overview

  • No Home Owners Association
  • 3 Units
  • Lantern Village Central Subdivision

Amenities

  • Laundry Facilities

Building Details

  • 3 Separate Electric Meters
  • 3 Separate Gas Meters
  • Gardener Expense $720
  • Insurance Expense $1,200
  • Trash Expense $540
  • Water Sewer Expense $450
  • New Taxes Expense $16,133
  • Operating Expense $19,043
  • Gross Income $84,480
  • Net Operating Income $65,797

Property Details

Home Type

Multi-Family

Year Built

Built in 1962

Lot Details

3,920 Sq Ft Lot

Parking

3

Listing Details

  • Assessments: Yes
  • CapRate: 4.13
  • Property Attached: No
  • Road Frontage Type: City Street
  • Road Surface Type: Paved
  • Security: Carbon Monoxide Detector(s), Smoke Detector(s)
  • Subdivision Name Other: Lantern Village Central (LDC)
  • View: Yes
  • Water Sewer Expenses: 450.00
  • Property Type: Residential Income
  • Gardener Expense: 720.00
  • Parcel Number: 68209140
  • Year Built: 1962
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Stories: 2
  • Common Walls: No Common Walls
  • Levels: Two
  • Price Per Square Foot: 598.74
  • Window Features: Screens

Exterior Features

  • View: Ocean, Peek-A-Boo
  • Pool Private: No
  • Roof: Composition

Garage/Parking

  • Garage Spaces: 3.00
  • Parking: Yes
  • Parking Features: Assigned, Garage
  • Total Parking Spaces: 3.00

Utilities

  • Sprinklers: Yes
  • Laundry: Yes
  • Laundry Features: Individual Room
  • Sewer: Public Sewer
  • Trash Expense: 540.00
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Curbs

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Landscaped, Sprinklers Drip System
  • Lot Size Sq Ft: 3920.00
  • Lot Size Acres: 0.0900

Rental Info

  • Tenant Pays: Electricity, Gas

Multi Family

  • Gross Income: 84480.00
  • Gross Multiplier: 18.80
  • Gross Scheduled Income: 84480.00
  • Insurance Expense: 1200.00
  • Laundry Equipment Own Lease: Lease
  • Laundry Income: 360.00
  • Lot Size Area: 3920.0000 Square Feet
  • Net Operating Income: 65797.00
  • Number Of Separate Electric Meters: 3
  • Number Of Separate Gas Meters: 3
  • Number Of Units Total: 3
  • Number With Dishwasher: 3
  • Number With Disposal: 3
  • Number With Drapes: 3
  • Number With Patio: 2
  • Number With Range: 3
  • Number With Refrigerator: 3
  • Operating Expense: 19043.00
  • Other Income Description: Laundry lease is MtM
  • Rent Control: No
  • Total Expenses: 19043.00

Tax Info

  • New Taxes Expense: 16133.00
  • Tax Lot: 16
  • Tax Tract Number: 861

Ownership History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Name Owned For Owner Type

Purchase Details

Listed on
Jun 15, 2018
Closed on
Jul 10, 2018
Sold by
Grassic Comercial Llc
Bought by
Seller's Agent
Mary Golding
Christie's International R.E. Southern California
Buyer's Agent
Christopher Cumming
Pacific Sotheby's Int'l Realty
List Price
$1,595,000
Sold Price
$1,525,000
Premium/Discount to List
-$70,000
-4.39%

Purchase Details

Listed on
Mar 9, 2016
Closed on
May 3, 2016
Sold by
Erwin & Mertz Investments Lp
Bought by
Grassis Commerical Llc
Seller's Agent
Michael Brawner
Rancho Santa Fe RE & Mortgage
Buyer's Agent
Mary Golding
Christie's International R.E. Southern California
List Price
$999,000
Sold Price
$1,000,000
Premium/Discount to List
$1,000
0.1%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
21.14%
Original Mortgage
$500,000
Interest Rate
3.25%
Mortgage Type
Adjustable Rate Mortgage/ARM

Purchase Details

Closed on
Apr 10, 2014
Sold by
Integrated Management Consultants Llc
Bought by
Erwin & Mertz Investments Lp

Purchase Details

Closed on
Oct 30, 2012
Sold by
Mertz Sara B
Bought by
Mertz Brian A and Mertz Family Trust

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$46,678
Interest Rate
3.43%
Mortgage Type
New Conventional

Purchase Details

Closed on
Mar 20, 2009
Sold by
Mertz Brian A
Bought by
Mertz Susan E and Mertz Family Trust

Purchase Details

Closed on
Oct 2, 1996
Sold by
Standard Pacific Svgs Fa
Bought by
Mertz Brian A and Mertz Susan E

Purchase Details

Closed on
Sep 26, 1996
Sold by
Ribeiro Lexia M A K
Bought by
Standard Pacific Svgs Fa

Purchase Details

Closed on
Nov 14, 1994
Sold by
Farrow Gerald B
Bought by
Farrow Gerald B and Chula Vista Associates Medical Group Inc
Source: Public Records

Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Agents Specializing in Lantern Village, CA

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Purchase History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Buyer Sale Price Title Company
$1,525,000 Lawyers Title Co
Grassis Commerical Llc $1,000,000 Lawyers Title
Erwin & Mertz Investments Lp $742,500 Chicago Title Company
Mertz Brian A -- None Available
Integrated Management Consultants Llc -- None Available
Mertz Susan E -- None Available
Mertz Brian A $170,000 Continental Lawyers Title Co
Standard Pacific Svgs Fa $234,646 Continental Lawyers Title Co
Farrow Gerald B $83,665 Chicago Title Company
Source: Public Records

Mortgage History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Status Borrower Loan Amount
Previous Owner $500,000
Previous Owner Integrated Management Consultants Llc $46,678
Previous Owner Mertz Susan E $60,000
Source: Public Records

Property History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Event Price List to Sale Price per Sq Ft Prior Sale
07/19/2018 07/19/18 Sold $1,525,000 -4.4% $599 / Sq Ft
06/19/2018 06/19/18 Pending -- -- --
06/15/2018 06/15/18 For Sale $1,595,000 +59.5% $626 / Sq Ft
05/06/2016 05/06/16 Sold $1,000,000 +0.1% $411 / Sq Ft View Prior Sale
05/06/2016 05/06/16 Pending -- -- --
03/09/2016 03/09/16 For Sale $999,000 -- $410 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

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
2026 $20,290 $1,735,187 $1,668,413 $66,774
2025 $19,636 $1,701,164 $1,635,699 $65,465
2024 $19,636 $1,667,808 $1,603,626 $64,182
2023 $19,148 $1,635,106 $1,572,182 $62,924
2022 $18,600 $1,603,046 $1,541,355 $61,691
2021 $18,219 $1,571,614 $1,511,132 $60,482
2020 $18,050 $1,555,500 $1,495,638 $59,862
2019 $17,651 $1,525,000 $1,466,311 $58,689
2018 $12,653 $1,040,400 $976,439 $63,961
2017 $12,251 $1,020,000 $957,293 $62,707
2016 $9,315 $768,510 $704,935 $63,575
2015 $9,147 $756,967 $694,346 $62,621
2014 $3,772 $225,858 $142,889 $82,969
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: NP18142994

California Regional Multiple Listing Service (CRMLS)

APN: 682-091-40

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