NOT LISTED FOR SALE

478 Richmond Dr Millbrae, CA 94030

Telescope Hills Neighborhood

Estimated Value: $3,063,966 - $3,504,000

7 Beds
7 Baths
4,719 Sq Ft
$683/Sq Ft Est. Value

Last Sold October 16, 2018

Last sale price $2,530,000 $536 Per Sq Ft

Est. 27% increase in value since last sale

Current estimated payment $19,887/month

27 Days on Market

About This Home

As of October 2018

*REVIEWING OFFERS AS RECEIVED - PLEASE SUBMIT ALL OFFERS* Offering Memorandum & Due Diligence Files Available Upon Request. All Units Are Large Town Home Style Units

Last Agent to Sell the Property

Fred Rubio

Marcus & Millichap License #01984041 Listed on: 08/20/2018

Co-Listed By

Mitchell Zurich

Marcus & Millichap License #01870648

Last Buyer's Agent

Fred Rubio

Marcus & Millichap License #01984041 Listed on: 08/20/2018

Property Details

Home Type

  • Multi-Family

Year Built

  • 1965

Lot Details

  • 5,040 Sq Ft Lot

Home Design

  • Triplex
  • Flat Roof Shape
  • Slab Foundation

Interior Spaces

  • 4,719 Sq Ft Home
  • 2-Story Property
  • Ceiling Fan

Parking

  • 2 Parking Spaces
  • 3 Carport Spaces

Utilities

  • Wall Furnace
  • Separate Meters

Listing and Financial Details

  • Total Actual Rent $112,200

Community Details

Overview

Building Details

  • 3 Leased Units
  • Gardener Expense $1,440
  • Insurance Expense $1,200
  • Maintenance Expense $1,500
  • Utility Expense $9,440
  • Trash Expense $1,980
  • Operating Expense $44,754
  • Gross Income $109,416

Property Details

Home Type

Multi-Family

Year Built

1965

Lot Details

0

Listing Details

  • Zoning: R30000
  • Subclass: Triplex
  • Listing Class: Residential Income (2-4 Units)
  • Structure Sq Ft: 4719
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Year Built: 1965

Interior Features

  • Living Sq Ft: 4719
  • Stories: 2

Exterior Features

  • Foundation: Concrete Slab
  • Roof: Flat / Low Pitch

Garage/Parking

  • Parking Spaces: 2
  • Garage Parking Features: Carport
  • Carport Min: 3

Utilities

  • Cooling System: Ceiling Fan
  • Heating System: Wall Furnace
  • Sewer/Septic System: Sewer Connected

Lot Info

  • Lot Acres: 0.1157
  • Lot Size Area Minimum Units: Square Feet
  • Minimum Lot Size: 5040.00
  • Lot Size Area Maximum Units: Square Feet
  • Maximum Lot Size: 5040.00

Rental Info

  • Existing Lease Term(s): Month To Month
  • Gross Rent Multiplier: 22.94
  • Number Of Leased: 3

Multi Family

  • Utilities: Individual Electric Meters
  • Expense Insurance: 1200
  • Expense Landscape: 1440
  • Expense Maintenance: 1500
  • Expenses Total: 44754
  • Expenses Utility: 9440
  • Expense Trash: 1980
  • Income Annual Gross: 109416.00
  • Income Annual Rental: 112200
  • Income Gross Scheduled: 112800
  • Income Includes: Laundry, Rents
  • Income Other: 600
  • Meters: Master Water, Separate Electric, Separate Gas
  • Number Of Buildings: 1
  • Operating Expenses Include: Fee - Property Tax, Insurance, Maintenance, Services - Sewer, Services - Trash Removal, Utilities - Water
  • Tenant Expenses: Utilities - Electric, Utilities - Gas
  • Vacancy Factor: 3

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Oct 21, 2019
Sold by
Tse Frederick Ho Tin and Tse Shelly
Bought by
Tse Frederick and Tse Shelly
Current Estimated Value
$3,225,322

Purchase Details

Listed on
Aug 20, 2018
Closed on
Sep 12, 2018
Sold by
Osberg Susan D and The Osberg Family Living Trust
Bought by
Tse Frederick Ho Tin and Tse Shelly
Seller's Agent
Fred Rubio
Marcus & Millichap
Buyer's Agent
Fred Rubio
Marcus & Millichap
List Price
$2,588,000
Sold Price
$2,530,000
Premium/Discount to List
-$58,000
-2.24%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
3.41%
Original Mortgage
$1,500,000
Interest Rate
4.5%
Mortgage Type
New Conventional

Purchase Details

Closed on
Jun 3, 2013
Sold by
478 Richmond Drive Llc
Bought by
The Osberg Family Living Trust

Purchase Details

Closed on
Dec 26, 2012
Sold by
478 Richmond Drive Llc
Bought by
The Osberg Family Living Trust

Purchase Details

Closed on
Aug 31, 2008
Sold by
Osberg Susan D
Bought by
478 Richmond Drive Llc

Purchase Details

Closed on
Oct 22, 2001
Sold by
Osberg Robert L
Bought by
Osberg Robert L and Osberg Susan D

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$625,000
Interest Rate
6.88%
Mortgage Type
Stand Alone First

Purchase Details

Closed on
Oct 18, 2001
Sold by
Osberg Robert L
Bought by
Osberg Robert L and Osberg Susan D

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$625,000
Interest Rate
6.88%
Mortgage Type
Stand Alone First
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
Not Available
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
Tse Frederick -- None Available
Tse Frederick Ho Tin $2,530,000 First American Title Co
Osberg Susan D -- First American Title Co
The Osberg Family Living Trust -- None Available
The Osberg Family Living Trust -- None Available
478 Richmond Drive Llc -- None Available
Osberg Robert L -- --
Osberg Robert L -- North American Title Co
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Tse Frederick Ho Tin $1,500,000
Previous Owner Osberg Robert L $625,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
10/16/2018 10/16/18 Sold $2,530,000 -2.2% $536 / Sq Ft
09/17/2018 09/17/18 Pending -- -- --
08/20/2018 08/20/18 For Sale $2,588,000 -- $548 / 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 $36,268 $2,822,259 $1,115,517 $1,706,742
2023 $36,268 $2,712,669 $1,072,201 $1,640,468
2022 $30,117 $2,659,480 $1,051,178 $1,608,302
2021 $29,777 $2,607,334 $1,030,567 $1,576,767
2020 $29,289 $2,580,600 $1,020,000 $1,560,600
2019 $28,591 $2,530,000 $1,000,000 $1,530,000
2018 $3,221 $240,782 $50,745 $190,037
2017 $3,084 $236,061 $49,750 $186,311
2016 $3,040 $231,433 $48,775 $182,658
2015 $3,022 $227,958 $48,043 $179,915
2014 $2,962 $223,493 $47,102 $176,391
Source: Public Records

Agents Affiliated with this Home

  • Fred Rubio

    Seller's Agent in 2018

    Fred Rubio

    Marcus & Millichap

    (408) 314-3009

    35 Total Sales

    Fred Rubio
    Section Image
  • Mitchell Zurich

    Seller Co-Listing Agent in 2018

    Mitchell Zurich

    Marcus & Millichap

    (408) 888-9594

    79 Total Sales

    Mitchell Zurich
    Section Image
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Map

Source: MLSListings

MLS Number: ML81719727

MLSListings

APN: 021-412-060

California San Mateo County Millbrae 94030 Telescope Hills

478 Richmond Dr, Millbrae, CA

Not Listed for Sale

MultiFamily

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