NOT LISTED FOR SALE

3962 Howard Ave Los Alamitos, CA 90720

17 Beds
9 Baths
10,639 Sq Ft
0.41 Acres

Last Sold June 09, 2021

Last sale price $4,500,000 $423 Per Sq Ft

9 Days on Market

Highlights

  • Gated Community
  • 0.41 Acre Lot
  • Mediterranean Architecture
  • Richard Henry Lee Elementary School Rated A+
  • Property is near public transit
  • 4-minute walk to Little Cottonwood Park

About This Home

As of June 2021

Pride of Ownership building located in best Los Alamitos Area. Gated trophy property built in 1985 Original owner First time ever on market. Over 10,000 square feet. Extremely well maintained. 25% upside on rents. 10 individual garages with openers. On site parking for an additional ten cars. Tankless water heaters. All plumbing replaced in last 5 years. Six units are townhouse style. Units have large private patios. Beautiful courtyard. Seller recently spent over $30,000 in landscaping. Eight units have remodeled kitchens with granite counters. Mostly long term tenants. Laundry room with washers and dryers included in sale.Tile roof. Maintenance room with built in cabinets. LED lighting. Seller is not exchanging. You will not find a cleaner property.

Last Agent to Sell the Property

Steve Gamez

P.R.S. Properties License #00586247 Listed on: 03/22/2021

Last Buyer's Agent

Greg Bassirpou

Marcus & Millichap RE Invest License #01365951

Property Details

Home Type

  • Apartment

Year Built

  • Built in 1985

Lot Details

  • 0.41 Acre Lot
  • No Common Walls
  • Fenced
  • Stucco Fence
  • Level Lot

Parking

  • 10 Open Parking Spaces
  • 10 Car Garage
  • Parking Available
  • Assigned Parking

Home Design

  • Mediterranean Architecture
  • Turnkey
  • Tile Roof
  • Copper Plumbing
  • Stucco

Interior Spaces

  • 10,639 Sq Ft Home
  • 2-Story Property
  • Built-In Features
  • High Ceiling
  • Workshop
  • Granite Countertops
  • Laundry Room

Flooring

  • Carpet
  • Tile

Bedrooms and Bathrooms

  • 17 Bedrooms
  • 9 Bathrooms

Accessible Home Design

  • Accessible Parking

Outdoor Features

  • Exterior Lighting
  • Shed

Location

  • Property is near public transit
  • Suburban Location

Utilities

  • Evaporated cooling system
  • Air Source Heat Pump
  • Tankless Water Heater
  • Cable TV Available

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Tax Lot 147
  • Tax Tract Number 693
  • Assessor Parcel Number 22204303

Community Details

Building Details

  • 10 Leased Units
  • Rent Control
  • 10 Separate Electric Meters
  • 10 Separate Gas Meters
  • 1 Separate Water Meter
  • Gardener Expense $4,092
  • Insurance Expense $5,739
  • Maintenance Expense $6,485
  • Other Expense $10,146
  • Pest Control $540
  • New Taxes Expense $56,361
  • Operating Expense $83,710
  • Gross Income $232,757
  • Net Operating Income $149,047

Additional Features

  • 10 Units
  • Laundry Facilities
  • Gated Community

Property Details

Home Type

Apartment

Year Built

Built in 1985

Lot Details

0

Parking

10

Listing Details

  • CapRate: 3.20
  • Property Attached: No
  • Road Frontage Type: City Street
  • Road Surface Type: Paved
  • Security: Gated Community
  • View: No
  • Architectural Style: Mediterranean
  • Property Condition: Turnkey
  • Property Type: Residential Income
  • Gardener Expense: 4092.00
  • Parcel Number: 22204303
  • Year Built: 1985
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Interior Amenities: Built-in Features, Copper Plumbing Full, Granite Counters, High Ceilings
  • Stories: 2
  • Common Walls: No Common Walls
  • Flooring: Carpet, Tile
  • Accessibility Features: Parking, See Remarks
  • Appliances: Yes
  • Levels: Two
  • Price Per Square Foot: 422.97
  • Room Type: Workshop

Exterior Features

  • Other Structures: Shed(s), Storage
  • Fence: Yes
  • Fencing: Stucco Wall
  • Pool Private: No
  • Roof: Tile
  • Spa: No
  • Construction Materials: Stucco

Garage/Parking

  • Garage Spaces: 10.00
  • Parking: Yes
  • Parking Features: Assigned
  • Total Parking Spaces: 20.00
  • Uncovered Spaces: 10.00

Utilities

  • Utilities: Cable Connected, Electricity Connected, Sewer Connected, Water Connected
  • Heating: Yes
  • Laundry: Yes
  • Appliances: Tankless Water Heater
  • Heating Type: Heat Pump
  • Laundry Features: Common Area, Individual Room
  • Pest Control Expense: 540.00
  • Sewer: Public Sewer
  • Water Source: Public
  • Cooling: Evaporative Cooling, Heat Pump
  • Cooling: Yes

Condo/Co-op/Association

  • Senior Community: No
  • Common Interest: Community Apartment
  • Community Features: Sidewalks, Street Lights, Suburban

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Lot 10000-19999 Sqft, Level, Near Public Transit
  • Lot Size Sq Ft: 17860.00
  • Lot Size Acres: 0.4100

Rental Info

  • Tenant Pays: Electricity, Gas

Multi Family

  • Gross Multiplier: 19.46
  • Gross Operating Income: 232757.00
  • Gross Scheduled Income: 236160.00
  • Insurance Expense: 5739.00
  • Laundry Equipment Own Lease: Own
  • Laundry Income: 110.00
  • Lot Size Area: 17860.0000 Square Feet
  • Maintenance Expense: 6485.00
  • Net Operating Income: 149047.00
  • Number Of Separate Electric Meters: 10
  • Number Of Separate Gas Meters: 10
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 10
  • Number Of Units Total: 10
  • Number With Carpet: 10
  • Number With Range: 10
  • Operating Expense: 83710.00
  • Other Expense: 10146.00
  • Other Expense Description: Utility
  • Rent Control: Yes
  • Total Actual Rent: 19570.00
  • Total Expenses: 83710.00
  • Vacancy Allowance Rate: 2.00

Tax Info

  • New Taxes Expense: 56361.00
  • Tax Area: 22006
  • Tax Census Tract: 1100.14
  • Tax Lot: 147
  • Tax Rate: 1.10
  • Tax Tract Number: 693
  • Tax Year: 2020

Range of Values:

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Value Increase
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Percent Increase
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Adjusted for Inflation
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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 List to Sale Price per Sq Ft
06/09/2021 06/09/21 Sold $4,500,000 -2.1% $423 / Sq Ft
03/31/2021 03/31/21 Pending -- -- --
03/22/2021 03/22/21 For Sale $4,595,000 -- $432 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Steve Gamez

    Seller's Agent in 2021

    Steve Gamez

    P.R.S. Properties

    (714) 328-0832

    1 in this area

    4 Total Sales

    Steve Gamez
    Section Image
  • Greg Bassirpou

    Buyer's Agent in 2021

    Greg Bassirpou

    Marcus & Millichap RE Invest

    (949) 419-3269

    3 in this area

    30 Total Sales

    Greg Bassirpou
    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW21059637

California Regional Multiple Listing Service (CRMLS)
California Orange County Los Alamitos 90720

3962 Howard Ave, Los Alamitos, CA

Not Listed for Sale

MultiFamily

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