$2,725,000
SOLD OCT 22, 2015
6 Beds
6 Baths
7,346 Sq Ft
5,451 Sq Ft Lot

Recently Sold

$371 Per Sq Ft

1% Above List Price

18 Days on Market

Highlights

  • Ocean View
  • Property has ocean access
  • Corner Lot
  • Lowell Elementary School Rated A-
  • 0.13 Acre Lot

About This Home

As of September 2017

A pristine property, family owned and cared for since 1966. Situated on a corner lot with a charming courtyard. Located in a prime location of Belmont Shore across from the sand, ocean, bike path, volleyball courts, dog beach and a few blocks to 2nd Street shops and restaurants. The property includes 11 1 bedroom units (some with ocean views) and 5 garages. Huge upside in rents. Units are separately metered. 11 unit permitted as a rec room. Buyers to verify

Last Agent to Sell the Property

Loree Scarborough

Compass License #01257913 Listed on: 08/28/2015

Compass

Last Buyer's Agent

Bryan Bohlinger

Bohlinger Properties, Inc. License #01522061

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1951

Lot Details

  • 5,451 Sq Ft Lot
  • No Common Walls
  • Corner Lot

Parking

  • 5 Car Garage

Interior Spaces

  • 7,346 Sq Ft Home
  • 3-Story Property
  • Ocean Views

Bedrooms and Bathrooms

  • 6 Bedrooms
  • 6 Bathrooms

Outdoor Features

  • Property has ocean access
  • Beach Access
  • Exterior Lighting
  • Rain Gutters

Listing and Financial Details

  • Tax Lot 30
  • Tax Tract Number 3750
  • Assessor Parcel Number 7256032029

Community Details

Overview

  • 11 Units

Building Details

  • 11 Leased Units
  • 11 Separate Electric Meters
  • 11 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $600
  • Gardener Expense $1,320
  • Insurance Expense $2,849
  • Professional Management Expense $3,000
  • Trash Expense $1,139
  • Water Sewer Expense $1,139
  • New Taxes Expense $33,750
  • Gross Income $13,110
  • Net Operating Income $112,983

Property Details

Home Type

Multi-Family

Year Built

Built in 1951

Lot Details

0

Parking

5

Listing Details

  • Assessments: No
  • CapRate: 4.20
  • Professional Management Expense: 3000.00
  • Property Attached: No
  • Road Frontage Type: City Street
  • Subdivision Name Other: Belmont Shore (BSD)
  • View: Yes
  • Water Sewer Expenses: 1139.00
  • Property Type: Residential Income
  • Gardener Expense: 1320.00
  • Parcel Number: 7256032029
  • Year Built: 1951
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Stories: 3
  • Common Walls: No Common Walls
  • Price Per Square Foot: 370.95

Exterior Features

  • View: Ocean
  • Pool Private: No

Garage/Parking

  • Garage Spaces: 5.00
  • Total Parking Spaces: 10.00

Utilities

  • Utilities: Sewer Available
  • Trash Expense: 1139.00
  • Water Source: Public

Condo/Co-op/Association

  • Community Features: Gutters, Sidewalks, Street Lights

Lot Info

  • Lot Features: Corner Lot
  • Lot Size Sq Ft: 5451.00
  • Price Per Lot Square Foot: 499.91
  • Lot Size Acres: 0.1250

Multi Family

  • Electric Expense: 600.00
  • Gross Income: 13110.00
  • Gross Multiplier: 17.10
  • Gross Scheduled Income: 157320.00
  • Insurance Expense: 2849.00
  • Lot Size Area: 5451.0000 Square Feet
  • Net Operating Income: 112983.00
  • Number Of Rented Garages: 5
  • Number Of Separate Electric Meters: 11
  • Number Of Separate Gas Meters: 11
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 11
  • Number Of Units Total: 11
  • Operating Expense: 44937.00
  • Rent Control: No
  • Total Actual Rent: 13160.00
  • Waterfront Features: Beach Access, Ocean Access

Tax Info

  • New Taxes Expense: 33750.00
  • Tax Lot: 30
  • Tax Tract Number: 3750

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Range of Values:

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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 Change Sq Ft Price
09/06/2017 09/06/17 Sold $4,500,000 -1.1% $613 / Sq Ft
08/06/2017 08/06/17 Pending -- -- --
07/24/2017 07/24/17 For Sale $4,550,000 0.0% $619 / Sq Ft
06/23/2017 06/23/17 Pending -- -- --
06/13/2017 06/13/17 For Sale $4,550,000 0.0% $619 / Sq Ft
06/03/2017 06/03/17 Pending -- -- --
05/23/2017 05/23/17 For Sale $4,550,000 +67.0% $619 / Sq Ft
10/22/2015 10/22/15 Sold $2,725,000 +0.9% $371 / Sq Ft
09/15/2015 09/15/15 Pending -- -- --
08/28/2015 08/28/15 For Sale $2,700,000 -- $368 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW15190793

California Regional Multiple Listing Service (CRMLS)