NOT LISTED FOR SALE

40510 Chapel Way Fremont, CA 94538

Irvington Neighborhood

Estimated Value: $1,795,000 - $2,590,000

8 Beds
5 Baths
3,823 Sq Ft
$578/Sq Ft Est. Value

Last Sold June 12, 2021

Last sale price $1,875,000 $490 Per Sq Ft

Est. 18% increase in value since last sale

Current estimated payment $14,466/month

59 Days on Market

Highlights

  • Granite Countertops
  • Balcony
  • Tile Flooring
  • J. Haley Durham Elementary School Rated A-
  • Double Pane Windows
  • Coin Laundry

About This Home

As of June 2021

First time to market in nearly 30 years! Rarely available fourplex in Irvington District of Fremont. Fully occupied with no delinquent rents. Strong in place rents. Building in very good condition, large units in good condition with patios or balconies and carports. Onsite laundry for additional income. Very low operating expenses. Located near Central Park and within the Irvington District, a hub for shopping and entertainment. Fremont is home to many high-tech and healthcare related employers. Marketing material and reports available.

Last Agent to Sell the Property

Michael Shields

SiliconValley MultiFamilyGroup License #01327546 Listed on: 03/08/2021

Last Buyer's Agent

Basil Yaqub

Pacific Realty Partners License #01739947

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $25,118

Year Built

  • 1966

Lot Details

  • 7,488

Parking

  • 2 Car Garage
  • 4 Carport Spaces

Home Design

  • Quadruplex
  • Wood Frame Construction
  • Composition Roof
  • Concrete Perimeter Foundation

Interior Spaces

  • 3,823 Sq Ft Home
  • 2-Story Property
  • Double Pane Windows

Kitchen

  • Electric Oven
  • Electric Cooktop
  • Dishwasher
  • Granite Countertops
  • Tile Countertops
  • Formica Countertops
  • Disposal

Flooring

  • Carpet
  • Tile
  • Vinyl

Utilities

  • Vented Exhaust Fan
  • Heating System Uses Gas
  • Separate Meters
  • Individual Gas Meter

Additional Features

  • Balcony
  • 7,488 Sq Ft Lot

Listing and Financial Details

  • Total Actual Rent $104,400

Community Details

Overview

Amenities

  • Coin Laundry

Building Details

  • 4 Leased Units
  • Gardener Expense $1,800
  • Insurance Expense $1,113
  • Maintenance Expense $394
  • Utility Expense $3,217
  • Trash Expense $2,331
  • Operating Expense $32,855
  • Gross Income $102,432

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$25,118

Year Built

1966

Lot Details

0

Parking

2

Listing Details

  • Zoning: RM
  • Subclass: Fourplex
  • Age: 55
  • Listing Class: Residential Income (2-4 Units)
  • Structure Sq Ft: 3823
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Year Built: 1966

Interior Features

  • Kitchen: Cooktop - Electric, Countertop - Formica, Countertop - Granite, Countertop - Tile, Dishwasher, Exhaust Fan, Garbage Disposal, Oven Range, Oven Range - Electric, Refrigerator
  • Living Sq Ft: 3823
  • Stories: 2
  • Laundry: Coin Operated
  • Flooring: Carpet, Tile, Vinyl / Linoleum

Exterior Features

  • Foundation: Concrete Perimeter And Slab
  • Roof: Composition
  • Yard/Grounds: Balcony / Patio
  • Construction Type: Wood Frame

Garage/Parking

  • Garage Spaces: 2
  • Garage Parking Features: Covered Parking
  • Carport Min: 4

Utilities

  • Heating System: Gas
  • Sewer/Septic System: Sewer - Public

Schools

  • School District: Fremont Unified

Lot Info

  • Lot Description: Regular
  • Lot Acres: 0.1719
  • Lot Size Area Minimum Units: Square Feet
  • Minimum Lot Size: 7486.00
  • Lot Size Area Maximum Units: Square Feet
  • Maximum Lot Size: 7486.00

Green Features

  • Energy Features: Double Pane Windows

Rental Info

  • Existing Lease Term(s): 1 Year Lease, Lease(s)
  • Gross Rent Multiplier: 18.47
  • Number Of Leased: 4

Multi Family

  • Utilities: Individual Electric Meters, Individual Gas Meters
  • Expense Insurance: 1113
  • Expense Landscape: 1800
  • Expense Maintenance: 394
  • Expenses Total: 32855
  • Expenses Utility: 3217
  • Expense Trash: 2331
  • Income Annual Gross: 102432.00
  • Income Annual Rental: 104400
  • Income Gross Scheduled: 105600
  • Income Includes: Laundry
  • Income Other: 1200
  • Meters: Master Water, Separate Electric, Separate Gas
  • Number Of Buildings: 1
  • Operating Expenses Include: Fee - Property Tax, Insurance, Maintenance - Repair, Services - Gardener, Services - Sewer, Services - Trash Removal, Utilities - Hot Water, Utilities - Water, Vacancy Factor
  • Tenant Expenses: Miscellaneous/Other, Utilities - Electric, Utilities - Gas, Utilities - Heating
  • Vacancy Factor: 3

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Mar 8, 2021
Closed on
Jun 11, 2021
Sold by
Carolina Perrelli
Bought by
Carolina Perrelli Revocable Trust
Seller's Agent
Michael Shields
SiliconValley MultiFamilyGroup
Buyer's Agent
Basil Yaqub
Pacific Realty Partners
List Price
$1,950,000
Sold Price
$1,875,000
Premium/Discount to List
-$75,000
-3.85%
Total Days on Market
59
Current Estimated Value
$2,210,500

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$335,500
Avg. Annual Appreciation
4.01%
Original Mortgage
$1,406,250
Outstanding Balance
$1,286,966
Interest Rate
2.9%
Mortgage Type
New Conventional
Estimated Equity
$904,530

Purchase Details

Listed on
Mar 8, 2021
Closed on
Jun 4, 2021
Sold by
Carolina Perrelli
Bought by
Carolina Perrelli Revocable Trust
Seller's Agent
Michael Shields
SiliconValley MultiFamilyGroup
Buyer's Agent
Basil Yaqub
Pacific Realty Partners
List Price
$1,950,000
Sold Price
$1,875,000
Premium/Discount to List
-$75,000
-3.85%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,406,250
Outstanding Balance
$1,286,966
Interest Rate
2.9%
Mortgage Type
New Conventional
Estimated Equity
$904,530

Purchase Details

Listed on
Mar 8, 2021
Closed on
May 25, 2021
Sold by
Perrelli Carmine and Carrolina Perrelli Revocable
Bought by
Iyengar Srikumar Seshasayee and Ganta Madhuri
Seller's Agent
Michael Shields
SiliconValley MultiFamilyGroup
Buyer's Agent
Basil Yaqub
Pacific Realty Partners
List Price
$1,950,000
Sold Price
$1,875,000
Premium/Discount to List
-$75,000
-3.85%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,406,250
Outstanding Balance
$1,286,966
Interest Rate
2.9%
Mortgage Type
New Conventional
Estimated Equity
$904,530

Purchase Details

Closed on
Jul 8, 2009
Sold by
Perrelli Carolina
Bought by
Perrelli Carolina and Carolina Perrelli Revocable Tr
Source: Public Records

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Range of Values:

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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
Carolina Perrelli Revocable Trust -- --
Carolina Perrelli Revocable Tr -- --
Carolina Perrelli Revocable Trust -- --
Iyengar Srikumar Seshasayee $1,875,000 Chicago Title Company
Perrelli Carolina -- None Available
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Iyengar Srikumar Seshasayee $1,406,250
Previous Owner Shimamoto Ronald T $142,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
06/12/2021 06/12/21 Sold $1,875,000 -3.8% $490 / Sq Ft
05/07/2021 05/07/21 Pending -- -- --
03/08/2021 03/08/21 For Sale $1,950,000 -- $510 / 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
2024 $25,118 $1,989,750 $1,061,200 $928,550
2023 $24,414 $1,950,750 $1,040,400 $910,350
2022 $6,924 $1,912,500 $1,020,000 $892,500
2021 $6,799 $400,034 $319,012 $81,022
2020 $6,454 $395,933 $315,742 $80,191
2019 $6,395 $388,172 $309,553 $78,619
2018 $6,256 $380,562 $303,484 $77,078
2017 $6,096 $373,102 $297,535 $75,567
2016 $5,969 $365,786 $291,701 $74,085
2015 $5,887 $360,293 $287,320 $72,973
2014 $5,775 $353,236 $281,693 $71,543
Source: Public Records

Agents Affiliated with this Home

  • Michael Shields

    Seller's Agent in 2021

    Michael Shields

    SiliconValley MultiFamilyGroup

    (408) 356-1900

    1 in this area

    34 Total Sales

    Michael Shields
    Section Image
  • Basil Yaqub

    Buyer's Agent in 2021

    Basil Yaqub

    Pacific Realty Partners

    (510) 493-3508

    2 in this area

    131 Total Sales

    Basil Yaqub
    Section Image
See All Agents

Map

Source: MLSListings

MLS Number: ML81833086

MLSListings

APN: 525-0661-001-03

California Alameda County Fremont 94538 Irvington

40510 Chapel Way, Fremont, CA

This home is located at 40510 Chapel Way, Fremont, CA 94538 since 08 March 2021 and is currently estimated at $2,210,500, approximately $578 per square foot. This property was built in 1966. 40510 Chapel Way is a home located in Alameda County with nearby schools including J. Haley Durham Elementary School, G.M. Walters Middle School, and John F. Kennedy High School.

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