NOT LISTED FOR SALE

Estimated Value: $1,372,000 - $1,649,000

4 Beds
3 Baths
2,200 Sq Ft
$684/Sq Ft Est. Value

Last Sold August 07, 2012

Last sale price $625,000 $284 Per Sq Ft

Est. 141% increase in value since last sale

Current estimated payment $9,017/month

48 Days on Market

Highlights

  • Wood Flooring
  • Bungalow
  • Heating System Uses Natural Gas
  • Woodrow Wilson High School Rated A
  • Wood Siding

About This Home

As of August 2012

Classic Craftsman bungalow in Bluff Heights. Property includes 2 additional units and 5 separate garages. Front house 385 Gladys has 2 bedrooms + den, 1 bathroom, original built-ins, ceiling fans, newer carpet, separate laundry room, stand alone garage and private back & side yard. Back units 383A & 383B are 1 bed/1 baths with there own stairs, faux fireplaces, original built-ins, ceiling fans and upgraded electric. Property is well maintained, has long term tenants and upside in rents. Perfect for owner occupied or investor. Standard sale!

Last Agent to Sell the Property

Scott Underwood

Meadowbrook Realty License #00999539 Listed on: 05/12/2012

Last Buyer's Agent

Andy Huang

Reddoor International Realty License #01448587

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $10,060

Year Built

  • Built in 1917

Lot Details

  • 6,451 Sq Ft Lot

Parking

  • 5 Car Garage

Home Design

  • Bungalow
  • Composition Roof
  • Wood Siding
  • Stucco

Interior Spaces

  • 2,200 Sq Ft Home
  • Wood Flooring

Bedrooms and Bathrooms

  • 4 Bedrooms
  • 3 Bathrooms

Utilities

  • Heating System Uses Natural Gas
  • Wall Furnace
  • Gas Water Heater

Listing and Financial Details

  • Tenant pays for cable TV, electricity, gas, trash collection
  • Legal Lot and Block 15 / 1
  • Tax Tract Number 7257
  • Assessor Parcel Number 7257009029

Community Details

Overview

  • 2 Buildings
  • 3 Units

Building Details

  • 3 Separate Electric Meters
  • 3 Separate Gas Meters
  • 1 Separate Water Meter
  • Gardener Expense $375
  • Insurance Expense $917
  • Other Expense $130
  • Water Sewer Expense $440
  • New Taxes Expense $7,788
  • Gross Income $3,840
  • Net Operating Income $34,126

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$10,060

Year Built

Built in 1917

Lot Details

0

Parking

5

Listing Details

  • Assessments: No
  • CapRate: 5.26
  • Price Per Unit: 216000
  • View: No
  • Water Sewer Expenses: 440.00
  • Zoning: LBR2A
  • Architectural Style: Bungalow
  • Property Type: Residential Income
  • Gardener Expense: 375.00
  • Parcel Number: 7257009029
  • Year Built: 1917
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: No
  • Flooring: Wood
  • Appliances: No
  • Levels: Two
  • Price Per Square Foot: 284.09

Exterior Features

  • Pool Private: No
  • Roof: Composition
  • Spa: No
  • Construction Materials: Stucco, Wood Siding

Garage/Parking

  • Garage Spaces: 5.00
  • Parking: No
  • Total Parking Spaces: 6.00

Utilities

  • Heating: Yes
  • Laundry: No
  • Appliances: Gas Water Heater
  • Heating Type: Natural Gas, Wall Furnace
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No

Lot Info

  • Lot Size Sq Ft: 6451.00
  • Lot Size Acres: 0.1480

Rental Info

  • Tenant Pays: Cable TV, Electricity, Gas, Trash Collection

Multi Family

  • Average1 Bed Area: 525
  • Average2 Bed Area: 1182
  • Gross Income: 3840.00
  • Gross Multiplier: 14.08
  • Gross Scheduled Income: 46080.00
  • Insurance Expense: 917.00
  • Lot Size Area: 6451.0000 Square Feet
  • Net Operating Income: 34126.00
  • Number Of Separate Electric Meters: 3
  • Number Of Separate Gas Meters: 3
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 3
  • Number With Carpet: 3
  • Number With Dishwasher: 1
  • Number With Disposal: 3
  • Number With Patio: 1
  • Operating Expense: 9650.00
  • Operating Expense Percent: 21.00
  • Other Expense: 130.00
  • Other Expense Description: account
  • Total Actual Rent: 46080.00
  • Vacancy Allowance: 2304
  • Vacancy Allowance Rate: 5.00

Tax Info

  • New Taxes Expense: 7788.00
  • Tax Area: 5500
  • Tax Block: 1
  • Tax Lot: 15
  • Tax Rate: 1.20
  • Tax Tract Number: 7257

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
May 12, 2012
Closed on
Jul 10, 2012
Sold by
Gerretson Charles E and Charles E Gerretson Revocable
Bought by
Gerretson Charles and Brandman Family Trust
Seller's Agent
Scott Underwood
Meadowbrook Realty
Buyer's Agent
Andy Huang
Reddoor International Realty
List Price
$649,000
Sold Price
$625,000
Premium/Discount to List
-$24,000
-3.7%
Current Estimated Value
$1,504,000

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$879,000
Avg. Annual Appreciation
7.06%
Original Mortgage
$637,416
Interest Rate
3.62%
Mortgage Type
VA

Purchase Details

Listed on
May 12, 2012
Closed on
Jun 18, 2012
Sold by
Gerretson Charles
Bought by
Shen Victor
Seller's Agent
Scott Underwood
Meadowbrook Realty
Buyer's Agent
Andy Huang
Reddoor International Realty
List Price
$649,000
Sold Price
$625,000
Premium/Discount to List
-$24,000
-3.7%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$637,416
Interest Rate
3.62%
Mortgage Type
VA

Purchase Details

Closed on
Mar 10, 2004
Sold by
Gerretson Charles E
Bought by
Gerretson Charles E and Charles E Gerretson Revocable

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$300,000
Interest Rate
5.62%
Mortgage Type
New Conventional

Purchase Details

Closed on
Feb 11, 2004
Sold by
Gerretson Charles E and The Charles E Gerretson Revoca
Bought by
Gerretson Charles E

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$300,000
Interest Rate
5.62%
Mortgage Type
New Conventional

Purchase Details

Closed on
Dec 14, 2001
Sold by
Gerretson Charles E
Bought by
Gerretson Charles E and Charles E Gerretson Revocable

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$225,000
Interest Rate
6.73%
Mortgage Type
Unknown

Purchase Details

Closed on
Apr 10, 1997
Sold by
Tillery Robert J and Tillery Karen K
Bought by
Pro Value Properties Inc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$100,000
Interest Rate
7.86%
Mortgage Type
Unknown

Purchase Details

Closed on
Apr 28, 1996
Sold by
Pro Value Properties Inc
Bought by
Gerretson Charlese

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$159,200
Interest Rate
4.25%
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
Gerretson Charles -- Fatcola
Shen Victor $625,000 Fatcola
Gerretson Charles E -- --
Gerretson Charles E -- Ort
Gerretson Charles E -- --
Pro Value Properties Inc $137,000 --
Gerretson Charlese $199,000 Fidelity Title
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Shen Victor $700,000
Closed Shen Victor $656,350
Previous Owner Shen Victor $637,416
Previous Owner Gerretson Charles E $300,000
Previous Owner Gerretson Charles E $225,000
Previous Owner Pro Value Properties Inc $100,000
Previous Owner Gerretson Charlese $159,200
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
08/07/2012 08/07/12 Sold $625,000 -3.7% $284 / Sq Ft
06/29/2012 06/29/12 Pending -- -- --
05/12/2012 05/12/12 For Sale $649,000 -- $295 / 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 $10,060 $769,633 $492,568 $277,065
2024 $10,060 $754,543 $482,910 $271,633
2023 $9,890 $739,749 $473,442 $266,307
2022 $9,291 $725,245 $464,159 $261,086
2021 $9,103 $711,025 $455,058 $255,967
2020 $9,079 $703,735 $450,392 $253,343
2019 $8,974 $689,937 $441,561 $248,376
2018 $8,667 $676,409 $432,903 $243,506
2016 $7,975 $650,145 $416,094 $234,051
2015 $7,657 $640,380 $409,844 $230,536
2014 $7,610 $627,837 $401,816 $226,021
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: P822054

California Regional Multiple Listing Service (CRMLS)

APN: 7257-009-029