NOT LISTED FOR SALE
10 Beds
10 Baths
7,581 Sq Ft
8,259 Sq Ft Lot

Last Sold May 08, 2024

Last sale price $3,150,000 $416 Per Sq Ft

6 Days on Market

About This Home

As of May 2024

Introducing "The Euclid," an exceptional garden-style building boasting 12 generously-sized one-bedroom units. This charming row-style building features 8 units on the first floor and 4 units on the second floor, offering a diverse layout to cater to various tenant preferences.

Convenience meets functionality with storage facilities conveniently situated adjacent to the laundry room, ensuring tenants have ample space to organize their belongings. Adding to the appeal, four garages line the alley, providing secure parking for residents.

Nestled in the coveted rental district of Belmont Heights, tenants relish the opportunity to indulge in the quintessential beach lifestyle. With a remarkable walkability score of 89, residents are mere moments away from the pristine shoreline, acclaimed eateries along 2nd Street, and the vibrant atmosphere of Broadway.

Priced attractively at $275K per door, "The Euclid" presents an enticing investment opportunity. Additionally, the adjacent property at 3656 E. 2nd is also available for sale, offering prospective buyers the chance to expand their investment portfolio seamlessly.

Don't miss the chance to own this gem in Belmont Heights—schedule a viewing of "The Euclid" today and secure your foothold in this thriving coastal community.

Last Agent to Sell the Property

Juan Huizar

Sage Real Estate Group, Inc. Brokerage Phone: 562-307-0838 License #01417642 Listed on: 04/02/2024

Co-Listed By

Caleb Baldwin

MJ Financial Services Inc Brokerage Phone: 562-307-0838 License #02056751

Last Buyer's Agent

Juan Huizar

Sage Real Estate Group, Inc. Brokerage Phone: 562-307-0838 License #01417642 Listed on: 04/02/2024

Property Details

Home Type

  • Apartment

Year Built

  • Built in 1921

Lot Details

  • 8,259 Sq Ft Lot
  • No Common Walls
  • Density is up to 1 Unit/Acre

Parking

  • 4 Car Garage

Home Design

  • Entry on the 1st floor

Interior Spaces

  • 7,581 Sq Ft Home
  • 2-Story Property

Bedrooms and Bathrooms

  • 10 Bedrooms
  • 10 Bathrooms

Laundry

  • Laundry Room
  • Leased Washer and Dryer

Listing and Financial Details

  • Tenant pays for electricity
  • Legal Lot and Block 7 / 78
  • Assessor Parcel Number 7256005008
  • $2,179 per year additional tax assessments

Community Details

Overview

  • 12 Units
  • Belmont Heights Subdivision

Amenities

  • Laundry Facilities

Building Details

  • 12 Leased Units
  • Rent Control
  • 12 Separate Electric Meters
  • 1 Separate Gas Meter
  • 1 Separate Water Meter
  • Electric Expense $840
  • Fuel Expense $3,946
  • Gardener Expense $1,680
  • Insurance Expense $12,501
  • Pest Control $816
  • Professional Management Expense $17,796
  • Trash Expense $2,932
  • Water Sewer Expense $3,946
  • New Taxes Expense $41,250
  • Operating Expense $86,270
  • Gross Income $222,175
  • Net Operating Income $129,240

Property Details

Home Type

Apartment

Year Built

Built in 1921

Lot Details

8,259 Sq Ft Lot

Parking

4

Listing Details

  • CapRate: 3.92
  • Professional Management Expense: 17796.00
  • Property Attached: No
  • Subdivision Name Other: Belmont Heights (BH)
  • Water Sewer Expenses: 3946.00
  • Zoning: LBR4R
  • Property Sub Type: Apartment
  • Property Type: Residential Income
  • Gardener Expense: 1680.00
  • Parcel Number: 7256005008
  • Year Built: 1921
  • Special Features: None

Interior Features

  • Stories: 2
  • Common Walls: No Common Walls
  • Entry Level: 1
  • Price Per Square Foot: 415.51

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 4.00
  • Total Parking Spaces: 4.00

Utilities

  • Laundry: Yes
  • Laundry Features: Common Area
  • Pest Control Expense: 816.00
  • Sewer: Public Sewer
  • Trash Expense: 2932.00
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Common Interest: Community Apartment
  • Community Features: Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 0-1 Unit/Acre
  • Lot Size Sq Ft: 8259.00
  • Lot Size Acres: 0.1896

Rental Info

  • Tenant Pays: Electricity

Multi Family

  • Electric Expense: 840.00
  • Fuel Expense: 3946.00
  • Gross Income: 222175.00
  • Gross Multiplier: 14.85
  • Gross Operating Income: 215510.00
  • Gross Scheduled Income: 222175.00
  • Insurance Expense: 12501.00
  • Laundry Equipment Own Lease: Lease
  • Laundry Income: 1675.00
  • Lot Size Area: 8259.0000 Square Feet
  • Net Operating Income: 129240.00
  • Number Of Separate Electric Meters: 12
  • Number Of Separate Gas Meters: 1
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 12
  • Number Of Units Total: 12
  • Operating Expense: 86270.00
  • Rent Control: Yes
  • Total Actual Rent: 18375.00
  • Total Expenses: 86270.00
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 41250.00
  • Tax Block: 78
  • Tax Census Tract: 5772.00
  • Tax Lot: 7
  • TaxOtherAnnualAssessmentAmount: 2179.00
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area

Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
05/08/2024 05/08/24 Sold $3,150,000 -4.5% $416 / Sq Ft
04/02/2024 04/02/24 For Sale $3,300,000 -- $435 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

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 $30,306 $3,213,000 $2,040,000 $1,173,000
2024 $30,306 $2,260,891 $1,507,263 $753,628
2023 $29,781 $2,216,560 $1,477,709 $738,851
2022 $27,968 $2,173,099 $1,448,735 $724,364
2021 $27,381 $2,130,490 $1,420,329 $710,161
2019 $26,988 $2,069,101 $1,378,202 $690,899
2018 $26,275 $2,028,567 $1,351,179 $677,388
2016 $24,174 $1,948,067 $1,298,712 $649,355
2015 $23,214 $1,918,807 $1,279,205 $639,602
2014 $23,085 $1,881,222 $1,254,148 $627,074
Source: Public Records

Agents Affiliated with this Home

  • Section Image
  • Section Image
See All Agents

Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW24062996

California Regional Multiple Listing Service (CRMLS)
Your Personal Tour Guide

Ask me questions while you tour the home.