NOT LISTED FOR SALE

Estimated Value: $1,961,000 - $2,295,765

4 Beds
4 Baths
2,568 Sq Ft
$835/Sq Ft Est. Value

Last Sold June 16, 2014

Last sale price $1,225,000 $477 Per Sq Ft

Est. 75% increase in value since last sale

Current estimated payment $13,454/month

7 Days on Market

Highlights

  • Ocean View
  • Tile Flooring
  • 5-minute walk to Arana Gulch
  • Mission Hill Middle School Rated A-
  • Zoned Heating

About This Home

As of June 2014

Four unit apartment building located in one of Santa Cruz's best beach neighborhoods just steps to the sand and yacht harbor. Great rental history and upside potential. A great investment or ideal for keeping one unit as a weekend get away while renting out the others.

Last Agent to Sell the Property

Anderson Christie

Anderson Christie, Inc. License #01894395 Listed on: 05/19/2014

Last Buyer's Agent

David Anderson

Anderson Christie, Inc. License #01819137

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $20,955

Year Built

  • 1933

Lot Details

  • 2,265

Parking

  • No Garage

Property Views

  • Ocean
  • Bay
  • City Lights

Home Design

  • Quadruplex
  • Slab Foundation
  • Composition Roof
  • Concrete Perimeter Foundation

Interior Spaces

  • 2,568 Sq Ft Home
  • 2-Story Property

Kitchen

  • Oven or Range
  • Dishwasher
  • Disposal

Flooring

  • Carpet
  • Tile
  • Vinyl

Eco-Friendly Details

  • Energy-Efficient Insulation

Utilities

  • Zoned Heating
  • Wall Furnace
  • Sewer Within 50 Feet

Listing and Financial Details

  • Total Actual Rent $67,800
  • The owner pays for electric, garbage, services - gardener/landscaping, gas, hot water, water

Community Details

Overview

  • 2,568 Sq Ft Building

Building Details

  • Gardener Expense $900
  • Insurance Expense $1,100
  • Manager Expense $4,746
  • Utility Expense $2,973
  • Operating Expense $13,033
  • Gross Income $67,800

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$20,955

Year Built

1933

Lot Details

0

Listing Details

  • Zoning: R1
  • Subclass: Fourplex
  • Age: 81
  • Inspections Reports: Fault Zone, Flood Zone
  • Sale Price Per Sq Ft: 477.02
  • Listing Class: Residential Income (2-4 Units)
  • Max Numberof Unitsin Complex: 4
  • Min Numberof Unitsin Complex: 4
  • Structure Sq Ft: 2568
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Year Built: 1933

Interior Features

  • Kitchen: Dishwasher, Varies By Unit, Garbage Disposal, Oven Range, Refrigerator
  • Living Sq Ft: 2568
  • Stories: 2
  • Laundry: Laundry - No
  • Flooring: Hardwood - Partial, Tile, Carpet - Wall To Wall, Vinyl / Linoleum, Carpet, Varies By Unit

Exterior Features

  • Foundation: Concrete Perimeter, Concrete Slab
  • Roof: Composition
  • View: Bay, Ocean, City Lights

Garage/Parking

  • Garage Parking Features: No Garage, No Parking

Utilities

  • Heating System: Heating - 2+ Zones, Wall Furnace, Gas - Natural
  • Sewer/Septic System: Sewer In Street, Sewer Connected

Schools

  • School District: Santa Cruz City High

Lot Info

  • Lot Location: Corner
  • Lot Size Area Minimum Units: Square Feet
  • Minimum Lot Size: 2265.00
  • Lot Size Area Maximum Units: Square Feet
  • Lot Size Area Max Search: 2265.00
  • Lot Size Area Min Search: 2265.00
  • Maximum Lot Size: 2265.00

Green Features

  • Energy Features: Insulation - Unknown

Rental Info

  • Existing Lease Term(s): Month To Month, Less Than 1 Yr
  • Gross Rent Multiplier: 18.44

Multi Family

  • Expense Insurance: 1100
  • Expense Landscape: 900
  • Expense Management: 4746
  • Expenses Total: 13033
  • Expenses Utility: 2973
  • Income Annual Gross: 67800.00
  • Income Annual Rental: 67800
  • Income Gross Scheduled: 67800
  • Income Includes: Lease
  • Maximum Building Height: 2
  • Meters: Master Electric, Master Gas, Master Water
  • Minimum Building Height: 2
  • Number Of Buildings: 1
  • Operating Expenses Include: Utilities - Electric, Services - Trash Removal, Services - Gardener, Utilities - Gas, Utilities - Hot Water, Utilities - Water, Insurance, Maintenance - Repair, Fee - Property Management, Fee - Property Tax, Services - Sewer
  • Owner Pays: Electric, Garbage, Services - Gardener/Landscaping, Gas, Hot Water, Water
  • Tenant Expenses: Cable Tv

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Sep 28, 2016
Sold by
Herman Kimberly A
Bought by
Herman Merit B
Current Estimated Value
$2,138,411

Purchase Details

Closed on
Oct 22, 2014
Sold by
Xchange Solutions Inc
Bought by
Herman Merit B and Herman Kimberly A

Purchase Details

Listed on
May 19, 2014
Closed on
Jun 9, 2014
Sold by
Pahl Gary W and Pahl Virginia Sue
Bought by
Xchange Solutions Inc
Seller's Agent
Anderson Christie
Anderson Christie, Inc.
Buyer's Agent
David Anderson
Anderson Christie, Inc.
List Price
$1,250,000
Sold Price
$1,225,000
Premium/Discount to List
-$25,000
-2%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
5.76%

Purchase Details

Closed on
Apr 13, 2012
Sold by
Pahl Dora M and Pahl Gary W
Bought by
Pahl Dora M and Pahl Gary W
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
Herman Merit B -- None Available
Herman Merit B $1,225,000 First American Title Company
Xchange Solutions Inc $1,250,000 First American Title Company
Pahl Dora M -- None Available
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
06/16/2014 06/16/14 Sold $1,225,000 -2.0% $477 / Sq Ft
05/26/2014 05/26/14 Pending -- -- --
05/19/2014 05/19/14 For Sale $1,250,000 -- $487 / Sq Ft
Source: MLSListings

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 $20,955 $1,501,683 $704,872 $796,811
2023 $19,972 $1,443,371 $677,501 $765,870
2022 $19,450 $1,415,069 $664,216 $750,853
2021 $18,842 $1,387,323 $651,192 $736,131
2020 $18,591 $1,373,097 $644,515 $728,582
2019 $18,182 $1,346,175 $631,878 $714,297
2018 $17,807 $1,319,779 $619,488 $700,291
2017 $17,470 $1,293,902 $607,342 $686,560
2016 $17,056 $1,268,531 $595,433 $673,098
2015 $16,707 $1,249,476 $586,489 $662,987
2014 $3,325 $45,547 $19,911 $25,636
Source: Public Records

Agents Affiliated with this Home

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Map

Source: MLSListings

MLS Number: ML81417576

MLSListings

APN: 027-181-08-000