NOT LISTED FOR SALE

420 Napa Ave Morro Bay, CA 93442

Estimated Value: $1,205,296 - $1,863,000

6 Beds
3 Baths
2,894 Sq Ft
$517/Sq Ft Est. Value

Last Sold April 18, 2019

Last sale price $870,000 $301 Per Sq Ft

Est. 72% increase in value since last sale

Current estimated payment $8,629/month

7 Days on Market

Highlights

  • Ocean View
  • No HOA
  • Laundry Room
  • Del Mar Elementary School Rated A-
  • Converted Garage
  • Forced Air Heating System

About This Home

As of April 2019

Clean triplex in a great Morro Bay location close to downtown. Each unit features 2 bedrooms and 1 bath with a one car garage. Individual laundry areas are located in each of the three units. All units are separately metered for water, electrical and gas. One unit is downstairs and 2 units are upstairs. The downstairs unit has a small backyard. Roof was replaced in 2015 and exterior paint in 2017. There is a separate 2 car garage in front of the lot that is currently being used as an art studio. Rock and ocean views from one upstairs unit and an ocean view from the deck in the other upstairs unit.

Last Agent to Sell the Property

Dennis Allan

Allan Real Estate Investments License #00961923 Listed on: 03/08/2019

Last Buyer's Agent

Sandy Rowe

Sandy Rowe Realty License #01059926

Sandy Rowe Realty

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1976

Lot Details

  • 6,600 Sq Ft Lot
  • No Units Located Below
  • Two or More Common Walls

Parking

  • 3 Car Garage
  • Converted Garage
  • Parking Available

Home Design

  • Property Attached

Interior Spaces

  • 2,894 Sq Ft Home
  • Ocean Views

Flooring

  • Carpet
  • Laminate

Bedrooms and Bathrooms

  • 6 Bedrooms
  • 3 Bathrooms

Laundry

  • Laundry Room
  • Laundry in Kitchen

Additional Features

  • Suburban Location
  • Forced Air Heating System

Listing and Financial Details

  • Assessor Parcel Number 066184021

Community Details

Overview

  • No Home Owners Association
  • 3 Units

Building Details

  • 3 Leased Units
  • 3 Separate Electric Meters
  • 3 Separate Gas Meters
  • 3 Separate Water Meters
  • Gardener Expense $700
  • Insurance Expense $1,200
  • Other Expense $4,730
  • Professional Management Expense $3,400
  • Trash Expense $500
  • New Taxes Expense $9,000
  • Operating Expense $19,530
  • Gross Income $45,970
  • Net Operating Income $36,270

Property Details

Home Type

Multi-Family

Year Built

Built in 1976

Lot Details

0

Parking

3

Listing Details

  • Assessments: Yes
  • CapRate: 4.00
  • Professional Management Expense: 3400.00
  • Property Attached: Yes
  • Subdivision Name Other: Morro Heights (810)
  • View: Yes
  • Zoning: RMF
  • Property Type: Residential Income
  • Gardener Expense: 700.00
  • Parcel Number: 066184021
  • Year Built: 1976
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: No
  • Common Walls: 2+ Common Walls, No One Below
  • Flooring: Carpet, Laminate
  • Price Per Square Foot: 300.62

Exterior Features

  • View: Ocean
  • Pool Private: No

Garage/Parking

  • Garage Spaces: 3.00
  • Parking: Yes
  • Parking Features: Converted Garage, Garage, On Site
  • Total Parking Spaces: 3.00

Utilities

  • Heating: Yes
  • Laundry: Yes
  • Heating Type: Forced Air
  • Laundry Features: In Kitchen
  • Sewer: Public Sewer
  • Trash Expense: 500.00
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Suburban

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Lot 6500-9999
  • Lot Size Sq Ft: 6600.00
  • Lot Size Acres: 0.1515

Multi Family

  • Average2 Bed Area: 965 Square Feet
  • Gross Income: 45970.00
  • Gross Scheduled Income: 55800.00
  • Insurance Expense: 1200.00
  • Lot Size Area: 6600.0000 Square Feet
  • Net Operating Income: 36270.00
  • Number Of Separate Electric Meters: 3
  • Number Of Separate Gas Meters: 3
  • Number Of Separate Water Meters: 3
  • Number Of Units Leased: 3
  • Number Of Units Total: 3
  • Operating Expense: 19530.00
  • Other Expense: 4730.00
  • Rent Control: No
  • Total Actual Rent: 4450.00
  • Total Expenses: 19530.00

Tax Info

  • New Taxes Expense: 9000.00
  • Tax Census Tract: 106.02

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Feb 2, 2020
Sold by
Henry Thomas H
Bought by
Henry Thomas Howard and Henry Susan Armine
Current Estimated Value
$1,497,432

Purchase Details

Listed on
Mar 8, 2019
Closed on
Mar 30, 2019
Sold by
Henry Susan
Bought by
Henry Thomas H
Seller's Agent
Dennis Allan
Allan Real Estate Investments
Buyer's Agent
Sandy Rowe
Sandy Rowe Realty
List Price
$900,000
Sold Price
$870,000
Premium/Discount to List
-$30,000
-3.33%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
8.36%

Purchase Details

Listed on
Mar 8, 2019
Closed on
Mar 19, 2019
Sold by
Balster Michael Anthony and Balster Family Revocable Livin
Bought by
Henry Thomas H
Seller's Agent
Dennis Allan
Allan Real Estate Investments
Buyer's Agent
Sandy Rowe
Sandy Rowe Realty
List Price
$900,000
Sold Price
$870,000
Premium/Discount to List
-$30,000
-3.33%

Purchase Details

Closed on
Jun 21, 2005
Sold by
Bakarich Balster Michael Anthony and Bakarich Balster Marian
Bought by
Bakarich Balster Michael Anthony and Bakarich Balster Marian

Purchase Details

Closed on
Aug 26, 1998
Sold by
Everett John W and Everett Susan E
Bought by
Bakarich Balster Michael Anthony and Bakarich Balster Marian
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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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
Henry Thomas Howard -- None Available
Henry Thomas H -- Fidelity National Title Co
Henry Thomas H $870,000 Fidelity National Title Co
Bakarich Balster Michael Anthony -- --
Bakarich Balster Michael Anthony $324,500 First American Title Ins Co
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
04/18/2019 04/18/19 Sold $870,000 -3.3% $301 / Sq Ft
03/15/2019 03/15/19 Pending -- -- --
03/08/2019 03/08/19 For Sale $900,000 -- $311 / 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 $10,515 $970,497 $407,163 $563,334
2024 $10,325 $951,469 $399,180 $552,289
2023 $10,325 $932,813 $391,353 $541,460
2022 $9,678 $914,524 $383,680 $530,844
2021 $9,524 $896,593 $376,157 $520,436
2020 $9,426 $887,400 $372,300 $515,100
2019 $4,822 $449,704 $140,530 $309,174
2018 $4,727 $440,887 $137,775 $303,112
2017 $4,635 $432,243 $135,074 $297,169
2016 $4,544 $423,769 $132,426 $291,343
2015 $4,475 $417,404 $130,437 $286,967
2014 $4,109 $409,228 $127,882 $281,346
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PI19051390

California Regional Multiple Listing Service (CRMLS)

APN: 066-184-021