NOT LISTED FOR SALE

49 Oak Ave Redwood City, CA 94061

Palm Park Neighborhood

Estimated Value: $1,708,000 - $1,977,000

5 Beds
4 Baths
1,903 Sq Ft
$987/Sq Ft Est. Value

Last Sold July 11, 2022

Last sale price $1,975,000 $1,038 Per Sq Ft

Est. 5% decrease in value since last sale

Current estimated payment $11,870/month

43 Days on Market

About This Home

As of July 2022

Marketing package and additional information available upon request *** ALL INTERIORS HAVE BEEN EXTENSIVELY RENOVATED *** 49 Oak Avenue, located in Redwood City, California is a three unit Apartment less than a mile away from Downtown. The building sits on a 9,500 square foot lot (per county assessor) and contains approximately 1,956 square feet of building space. The unit mix of the property consists of one three-bedroom/ two-bath unit and two one-bedroom/one-bath units.

Last Agent to Sell the Property

Mitchell Zurich

Marcus & Millichap License #01870648 Listed on: 04/11/2022

Co-Listed By

Carlos Azucena

Marcus & Millichap License #01738155

Last Buyer's Agent

Mitchell Zurich

Marcus & Millichap License #01870648 Listed on: 04/11/2022

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $22,367

Year Built

  • 1923

Lot Details

  • 9,500 Sq Ft Lot

Parking

  • 2 Car Garage
  • Varies By Unit
  • Assigned Parking

Home Design

  • Triplex
  • Composition Roof
  • Concrete Perimeter Foundation

Interior Spaces

  • 1,903 Sq Ft Home
  • 1-Story Property

Utilities

  • Cooling System Mounted To A Wall/Window
  • Wall Furnace
  • Separate Meters
  • Individual Gas Meter

Listing and Financial Details

  • Total Actual Rent $98,364

Community Details

Overview

  • 1,903 Sq Ft Building

Building Details

  • 3 Leased Units
  • Gardener Expense $1,020
  • Insurance Expense $1,412
  • Maintenance Expense $1,950
  • Operating Expense $26,288
  • Gross Income $95,413

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$22,367

Year Built

1923

Lot Details

0

Parking

2

Listing Details

  • Zoning: R40000
  • Subclass: Triplex
  • Age: 99
  • Listing Class: Residential Income (2-4 Units)
  • Structure Sq Ft: 1903
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Year Built: 1923

Interior Features

  • Living Sq Ft: 1903
  • Stories: 1

Exterior Features

  • Foundation: Concrete Perimeter
  • Roof: Composition

Garage/Parking

  • Garage Spaces: 2
  • Parking Spaces: 3
  • Garage Parking Features: Assigned Spaces, Varies By Unit

Utilities

  • Cooling System: Window / Wall Unit
  • Heating System: Wall Furnace
  • Sewer/Septic System: Sewer Connected

Schools

  • School District: Sequoia Union High

Lot Info

  • Lot Acres: 0.2181
  • Lot Size Area Minimum Units: Square Feet
  • Minimum Lot Size: 9500.00
  • Lot Size Area Maximum Units: Square Feet
  • Maximum Lot Size: 9500.00

Rental Info

  • Existing Lease Term(s): Lease(s), Less Than 1 Yr
  • Gross Rent Multiplier: 20.08
  • Number Of Leased: 3

Multi Family

  • Utilities: Individual Electric Meters, Individual Gas Meters
  • Expense Insurance: 1412
  • Expense Landscape: 1020
  • Expense Maintenance: 1950
  • Expenses Total: 26288
  • Income Annual Gross: 95413.00
  • Income Annual Rental: 98364
  • Income Gross Scheduled: 98364
  • Income Includes: Rents
  • Meters: Separate Water
  • Number Of Buildings: 3
  • Operating Expenses Include: Fee - Property Tax, Insurance, Maintenance - Repair, Utilities, Vacancy Factor
  • Tenant Expenses: Utilities - Electric
  • Vacancy Factor: 3

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Apr 11, 2022
Closed on
Jun 29, 2022
Sold by
Poosarla Family Revocable Trust
Bought by
Tawil Frank and Gihana Patrick
Seller's Agent
Mitchell Zurich
Marcus & Millichap
Buyer's Agent
Mitchell Zurich
Marcus & Millichap
List Price
$1,975,000
Sold Price
$1,975,000
Current Estimated Value
$1,878,199

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$96,801
Avg. Annual Appreciation
-1.08%
Original Mortgage
$1,382,500
Outstanding Balance
$1,318,961
Interest Rate
5.25%
Mortgage Type
New Conventional
Estimated Equity
$588,970

Purchase Details

Listed on
Apr 11, 2022
Closed on
May 20, 2022
Sold by
Hashemian Eric
Bought by
Tawil Frank
Seller's Agent
Mitchell Zurich
Marcus & Millichap
Buyer's Agent
Mitchell Zurich
Marcus & Millichap
List Price
$1,975,000
Sold Price
$1,975,000

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,382,500
Outstanding Balance
$1,318,961
Interest Rate
5.25%
Mortgage Type
New Conventional
Estimated Equity
$588,970

Purchase Details

Closed on
Jul 25, 2019
Sold by
Poosaria Udaybhaskar and Patchipulusu Praveena
Bought by
Poosarla Udaybhaskar and Patchipulusu Praveena

Purchase Details

Closed on
Jul 2, 2019
Sold by
Olson Denise and Olson Denise M
Bought by
Poosarla Udaybhaskar and Patchipulusu Praveena

Purchase Details

Closed on
May 22, 2018
Sold by
Fabbro Larry R and Olson Denise
Bought by
Olson Denise

Purchase Details

Closed on
Mar 3, 2000
Sold by
Atalla Virginia M
Bought by
Fabbro Larry R and Olson Denise

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$390,900
Interest Rate
8.26%
Source: Public Records

Range of Values:

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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
Tawil Frank $1,975,000 Chicago Title
Tawil Frank -- Chicago Title
Poosarla Udaybhaskar -- Old Republic Title Company
Poosarla Udaybhaskar $1,500,000 Old Republic Title Company
Olson Denise -- None Available
Fabbro Larry R $440,000 North American Title Co
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Tawil Frank $1,382,500
Previous Owner Tawil Frank $1,382,500
Previous Owner Poosarla Udaybhaskar $848,000
Previous Owner Fabbro Larry R $457,000
Previous Owner Fabbro Larry R $479,500
Previous Owner Fabbro Larry R $490,000
Previous Owner Fabbro Larry R $431,000
Previous Owner Fabbro Larry R $395,000
Previous Owner Fabbro Larry R $390,900
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
07/11/2022 07/11/22 Sold $1,975,000 0.0% $1,038 / Sq Ft
05/25/2022 05/25/22 Pending -- -- --
04/11/2022 04/11/22 For Sale $1,975,000 -- $1,038 / 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 $22,367 $2,054,790 $1,352,520 $702,270
2023 $22,367 $1,975,000 $1,300,000 $675,000
2022 $18,289 $1,586,041 $1,350,042 $235,999
2021 $17,051 $1,554,943 $1,323,571 $231,372
2020 $16,822 $1,539,000 $1,310,000 $229,000
2019 $6,748 $606,223 $424,360 $181,863
2018 $6,572 $594,338 $416,040 $178,298
2017 $6,500 $582,685 $407,883 $174,802
2016 $6,381 $571,261 $399,886 $171,375
2015 $6,144 $562,681 $393,880 $168,801
2014 $6,026 $551,660 $386,165 $165,495
Source: Public Records

Agents Affiliated with this Home

  • Mitchell Zurich

    Seller's Agent in 2022

    Mitchell Zurich

    Marcus & Millichap

    (650) 391-1824

    2 in this area

    82 Total Sales

    Mitchell Zurich
    Section Image
  • Carlos Azucena

    Seller Co-Listing Agent in 2022

    Carlos Azucena

    Marcus & Millichap

    (650) 391-1700

    1 in this area

    35 Total Sales

    Carlos Azucena
    Section Image
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Map

Source: MLSListings

MLS Number: ML81886420

MLSListings

APN: 053-281-110

California San Mateo County Redwood City 94061 Palm Park

49 Oak Ave, Redwood City, CA

This home is located at 49 Oak Ave, Redwood City, CA 94061 since 11 April 2022 and is currently estimated at $1,878,199, approximately $986 per square foot. This property was built in 1923. 49 Oak Ave is a home located in San Mateo County with nearby schools including Roosevelt Elementary School, John F. Kennedy Middle School, and Woodside High School.

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