NOT LISTED FOR SALE

491 Pine Ave Half Moon Bay, CA 94019

Estimated Value: $1,362,000 - $1,871,551

5 Beds
3 Baths
3,620 Sq Ft
$446/Sq Ft Est. Value

Last Sold June 06, 2016

Last sale price $885,000 $244 Per Sq Ft

Est. 83% increase in value since last sale

Current estimated payment $9,583/month

209 Days on Market

Highlights

  • Deck
  • Kennel or Dog Run
  • Washer and Dryer
  • Secured Garage or Parking
  • Forced Air Heating System
  • Fenced

About This Home

As of June 2016

This spacious duplex, 3bd/1.5ba and 2bd/1ba, has 2 garage units, decks and fenced front/back yard. Walking distance to beaches, schools, downtown restaurants and shops. Strong demand and limited supply for local apartment units has created low vacancy/rising rents environment. New owner can add value by renovating and re-tenanting. This property is attractively priced below recent sales comps. 100% occupied at below market rents. Market rent estimates: 3bd/1.5ba: $3100-$2900. 2bd/1ba:$2300-$2100.

Last Agent to Sell the Property

Randy Kinghorn

Kinghorn Commercial Properties License #01743580 Listed on: 10/08/2015

Last Buyer's Agent

Randy Kinghorn

Kinghorn Commercial Properties License #01743580 Listed on: 10/08/2015

Property Details

Home Type

  • Multi-Family

Year Built

  • 1977

Lot Details

  • Kennel or Dog Run
  • Fenced
  • Back Yard

Parking

  • 4 Car Garage
  • Secured Garage or Parking
  • On-Street Parking
  • Off-Street Parking

Home Design

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

Interior Spaces

  • 3,620 Sq Ft Home
  • 2-Story Property
  • Electric Oven
  • Washer and Dryer

Flooring

  • Carpet
  • Vinyl

Additional Features

  • Deck
  • Forced Air Heating System

Listing and Financial Details

  • Total Actual Rent $46,800

Community Details

Overview

Building Details

  • 2 Leased Units
  • Insurance Expense $1,200
  • Operating Expense $14,975
  • Gross Income $46,800

Property Details

Home Type

Multi-Family

Year Built

1977

Lot Details

0

Parking

4

Listing Details

  • Zoning: R-3
  • Subclass: Duplex
  • Listing Class: Residential Income (2-4 Units)
  • Structure Sq Ft: 3620
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Year Built: 1977

Interior Features

  • Kitchen: Oven Range - Electric, Refrigerator
  • Living Sq Ft: 3620
  • Stories: 2
  • Security: Secured Garage / Parking
  • Laundry: Washer / Dryer
  • Flooring: Carpet, Vinyl / Linoleum

Exterior Features

  • Foundation: Concrete Perimeter And Slab
  • Roof: Composition
  • Yard/Grounds: Back Yard, Deck, Dog Run / Kennel, Fenced
  • Construction Type: Wood Frame

Garage/Parking

  • Garage Spaces: 4
  • Garage Parking Features: Covered Parking, Off-Street Parking, On Street

Utilities

  • Heating System: Forced Air
  • Sewer/Septic System: Sewer Connected

Lot Info

  • Lot Description: Regular
  • Lot Size Area Minimum Units: Square Feet
  • Minimum Lot Size: 6000.00
  • Lot Size Area Maximum Units: Square Feet
  • Maximum Lot Size: 6000.00

Rental Info

  • Existing Lease Term(s): Month To Month
  • Gross Rent Multiplier: 19.62
  • Number Of Leased: 2

Multi Family

  • Utilities: Public Utilities
  • Expense Insurance: 1200
  • Expenses Total: 14975
  • Income Annual Gross: 46800.00
  • Income Annual Rental: 46800
  • Income Gross Scheduled: 46800
  • Income Includes: Rents
  • Meters: Separate Electric, Separate Gas, Separate Water
  • Number Of Buildings: 1
  • Operating Expenses Include: Fee - Property Tax, Insurance
  • Tenant Expenses: Services - Sewer, Services - Trash Removal, Utilities - Electric, Utilities - Gas, Utilities - Heating, Utilities - Hot Water, Utilities - Water

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Oct 8, 2015
Closed on
May 31, 2016
Sold by
Carrubba Maurice and Carrubba Melissa
Bought by
Carrubba Maurice and Carrubba Melissa
Seller's Agent
Randy Kinghorn
Kinghorn Commercial Properties
Buyer's Agent
Randy Kinghorn
Kinghorn Commercial Properties
List Price
$975,000
Sold Price
$885,000
Premium/Discount to List
-$90,000
-9.23%
Current Estimated Value
$1,616,138

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$731,138
Avg. Annual Appreciation
6.44%

Purchase Details

Listed on
Oct 8, 2015
Closed on
May 26, 2016
Sold by
Carrubba Maurice and Carrubba Melissa
Bought by
Mann Bill
Seller's Agent
Randy Kinghorn
Kinghorn Commercial Properties
Buyer's Agent
Randy Kinghorn
Kinghorn Commercial Properties
List Price
$975,000
Sold Price
$885,000
Premium/Discount to List
-$90,000
-9.23%

Purchase Details

Closed on
Aug 2, 2010
Sold by
Carrubba Maurice and Carrubba Melissa
Bought by
Carrubba Maurice and Carrubba Melissa

Purchase Details

Closed on
Feb 27, 2008
Sold by
Kleinen Knute E and Kleinen Maryjoan
Bought by
Carrubba Maurice and Carrubba Melissa

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$531,250
Interest Rate
5.41%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Jul 19, 2004
Sold by
Kleinen Knute and Kleinen Maryjoan
Bought by
Kleinen Knute E and Kleinen Maryjoan
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
Carrubba Maurice $442,500 North American Title Co Inc
Mann Bill $885,000 North American Title Co Inc
Carrubba Maurice -- None Available
Carrubba Maurice $625,000 Old Republic Title Company
Kleinen Knute E -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Carrubba Maurice $531,250
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
06/06/2016 06/06/16 Sold $885,000 -9.2% $244 / Sq Ft
05/05/2016 05/05/16 Pending -- -- --
10/08/2015 10/08/15 For Sale $975,000 -- $269 / 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 $14,281 $1,047,653 $769,465 $278,188
2023 $14,281 $1,006,974 $739,587 $267,387
2022 $13,203 $987,231 $725,086 $262,145
2021 $12,761 $967,874 $710,869 $257,005
2020 $12,545 $957,950 $703,580 $254,370
2019 $12,046 $939,168 $689,785 $249,383
2018 $13,279 $920,754 $676,260 $244,494
2017 $11,225 $902,700 $663,000 $239,700
2016 $10,691 $693,482 $346,741 $346,741
2015 $10,303 $683,066 $341,533 $341,533
2014 $10,437 $669,686 $334,843 $334,843
Source: Public Records

Agents Affiliated with this Home

  • Randy Kinghorn

    Seller's Agent in 2016

    Randy Kinghorn

    Kinghorn Commercial Properties

    (650) 918-4388

    13 Total Sales

    Randy Kinghorn
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Map

Source: MLSListings

MLS Number: ML81518137

MLSListings

APN: 056-141-890

California San Mateo County Half Moon Bay 94019

491 Pine Ave, Half Moon Bay, CA

Not Listed for Sale

MultiFamily

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