NOT LISTED FOR SALE

Estimated Value: $1,327,000 - $1,611,427

2 Beds
2 Baths
3,272 Sq Ft
$468/Sq Ft Est. Value

Last Sold March 22, 2012

Last sale price $607,000 $186 Per Sq Ft

Est. 152% increase in value since last sale

Current estimated payment $8,853/month

83 Days on Market

Highlights

  • Wood Flooring
  • Balcony
  • Floor Furnace
  • Woodrow Wilson High School Rated A

About This Home

As of March 2012

Classic Belmont Heights 4-plex! Recently painted plus newer deck and back stairway. Beautiful Investment property with so many classic features including the classic buffets in the dining room areas. Apartments rent instantly as they have so much classic character. Please do not disturb occupants - drive by only subject to inspection. This is a residential income property. The 4 garages are currently being used by the heirs so NO RENT IS COLLECTED FOR THE 4 GARAGES. There are an additional 4 parking spaces that the tenats do use. All units have large closet areas that make a perfect home office. All units have laundry areas. Redondo is zoned commercial, so there are tons of possibilities!

Last Agent to Sell the Property

Cynthia Voss

Re/Max R. E. Specialists License #00881330 Listed on: 12/13/2011

Re/Max R. E. Specialists

Last Buyer's Agent

John Gooding

Vista Sotheby's Int'l Realty License #00479227

Vista Sotheby's Int'l Realty

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1924

Lot Details

  • 6,251

Parking

  • 8 Parking Spaces

Home Design

  • Composition Roof
  • Stucco

Interior Spaces

  • 3,272 Sq Ft Home
  • Wood Flooring

Bedrooms and Bathrooms

  • 2 Bedrooms
  • 2 Bathrooms

Utilities

  • Floor Furnace
  • Sewer Paid

Additional Features

  • Balcony
  • 6,251 Sq Ft Lot

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Tax Block 2
  • Assessor Parcel Number 7257014010

Community Details

Overview

  • 2 Buildings
  • 4 Units

Building Details

  • 4 Separate Electric Meters
  • 4 Separate Gas Meters
  • 1 Separate Water Meter
  • Gardener Expense $600
  • Insurance Expense $1,500
  • New Taxes Expense $7,437
  • Gross Income $3,525
  • Net Operating Income $33,300

Property Details

Home Type

Multi-Family

Year Built

Built in 1924

Lot Details

0

Listing Details

  • Assessments: No
  • CapRate: 5.60
  • View: No
  • Property Type: Residential Income
  • Gardener Expense: 600.00
  • Parcel Number: 7257014010
  • Year Built: 1924
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: No
  • Interior Amenities: Balcony
  • Flooring: Wood
  • Appliances: Yes
  • Levels: Two
  • Price Per Square Foot: 185.51

Exterior Features

  • Pool Private: No
  • Roof: Composition
  • Spa: No
  • Construction Materials: Stucco

Garage/Parking

  • Parking: No
  • Total Parking Spaces: 8.00

Utilities

  • Utilities: Sewer Connected
  • Heating: Yes
  • Laundry: No
  • Heating Type: Floor Furnace
  • Sewer: Sewer Paid
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No

Lot Info

  • Lot Size Sq Ft: 6251.00
  • Lot Size Acres: 0.1440

Rental Info

  • Tenant Pays: Electricity, Gas

Multi Family

  • Gross Income: 3525.00
  • Gross Multiplier: 14.07
  • Gross Scheduled Income: 42300.00
  • Insurance Expense: 1500.00
  • Lot Size Area: 6251.0000 Square Feet
  • Net Operating Income: 33300.00
  • Number Of Separate Electric Meters: 4
  • Number Of Separate Gas Meters: 4
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 4
  • Operating Expense: 9000.00

Tax Info

  • New Taxes Expense: 7437.00
  • Tax Area: 5500
  • Tax Block: 2
  • Tax Lot: 0.
  • Tax Tract Number: 0000

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Nov 9, 2012
Sold by
Olson Mark D and Nordenstam Olson Linda
Bought by
Olson Mark Douglas and Nordenstam Olson Linda
Current Estimated Value
$1,531,107

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$466,400
Outstanding Balance
$321,527
Interest Rate
3.34%
Mortgage Type
New Conventional
Estimated Equity
$1,209,580

Purchase Details

Listed on
Dec 13, 2011
Closed on
Jan 25, 2012
Sold by
Stuhlbarg Emily and Gerardi Family 1987 Trust
Bought by
Olson Mark Douglas and Nordenstam Olson Linda
Seller's Agent
Cynthia Voss
Re/Max R. E. Specialists
Buyer's Agent
John Gooding
Vista Sotheby's Int'l Realty
List Price
$595,000
Sold Price
$607,000
Premium/Discount to List
$12,000
2.02%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
6.94%
Original Mortgage
$455,250
Interest Rate
3.84%
Mortgage Type
New Conventional
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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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
Olson Mark Douglas -- First American Title Company
Olson Mark D -- First American Title Company
Olson Mark Douglas $607,000 North American Title Company
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Olson Mark D $466,400
Previous Owner Olson Mark Douglas $455,250
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
03/22/2012 03/22/12 Sold $607,000 +2.0% $186 / Sq Ft
03/05/2012 03/05/12 Pending -- -- --
12/13/2011 12/13/11 For Sale $595,000 -- $182 / 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 $10,165 $762,412 $385,601 $376,811
2024 $10,165 $747,464 $378,041 $369,423
2023 $9,992 $732,809 $370,629 $362,180
2022 $9,391 $718,441 $363,362 $355,079
2021 $9,191 $704,355 $356,238 $348,117
2019 $9,061 $683,466 $345,673 $337,793
2018 $8,765 $670,066 $338,896 $331,170
2016 $8,059 $644,048 $325,737 $318,311
2015 $7,742 $634,375 $320,845 $313,530
2014 $7,701 $621,950 $314,561 $307,389
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: P805866

California Regional Multiple Listing Service (CRMLS)

APN: 7257-014-010