$1,750,000
SOLD JUN 11, 2012
10 Beds
7 Baths
3,500 Sq Ft
4,067 Sq Ft Lot

Recently Sold

$500 Per Sq Ft

4% Below List Price

113 Days on Market

Highlights

  • Traditional Architecture
  • Central Heating
  • Carpet
  • Newport Elementary School Rated A
  • Wood Siding

About This Home

As of May 2015

Just steps to the sand. This duplex is located in a very high desired area for vacationers and college students. The upstairs is a huge 6 bedroom 4 bathroom unit, with two fireplaces and two full kitchens in the front and rearend of the building. The patio for the upper unit is great for bbqs and relaxing in the sun at home. The lower unit is made up of 3 bedrooms 2 bathrooms a fireplace,kitchen and living room in the front. The lower unit has a large front patio that allows the tenants to hangout and bbq and walk back and forth from beach. There is also a studio downstairs in the rear end with a bathroom and large closet space. This duplex has 4 parking spaces 3 are in a garage and one is a carport. The duplex has a community coin-operated laundry for additional income. The downstairs unit has also been rented out for summer vacation rentals at a rate of $1,600 -$2,000 a week. HUGE INCOME OPPORUNITY!!!!

Last Agent to Sell the Property

John Zarvos

Viking Real Estate and Inv. License #00558652 Listed on: 02/09/2012

Last Buyer's Agent

John Stanaland

DOUGLAS ELLIMAN OF CALIFORNIA, INC. License #01223768

DOUGLAS ELLIMAN OF CALIFORNIA, INC.

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1970

Parking

  • 4 Parking Spaces

Home Design

  • Traditional Architecture
  • Brick Exterior Construction
  • Shingle Roof
  • Composition Roof
  • Wood Siding

Interior Spaces

  • 3,500 Sq Ft Home
  • Fireplace Features Masonry
  • Carpet

Bedrooms and Bathrooms

  • 10 Bedrooms
  • 7 Bathrooms

Additional Features

  • 4,067 Sq Ft Lot
  • Central Heating

Listing and Financial Details

  • Tax Block 49
  • Tax Tract Number 670
  • Assessor Parcel Number 42446212

Community Details

Overview

  • 2 Units

Building Details

  • 2 Separate Electric Meters
  • 2 Separate Gas Meters
  • 2 Separate Water Meters
  • Insurance Expense $1,080
  • Supplies Expense $1,000
  • Gross Income $9,049
  • Net Operating Income $103,383

Property Details

Home Type

Multi-Family

Year Built

Built in 1970

Lot Details

0

Listing Details

  • Assessments: No
  • CapRate: 5.65
  • Supplies Expense: 1000.00
  • View: No
  • Architectural Style: Traditional
  • Property Type: Residential Income
  • Parcel Number: 42446212
  • Year Built: 1970
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: No
  • Flooring: Carpet
  • Appliances: No
  • Fireplace Features: Masonry
  • Price Per Square Foot: 500.00

Exterior Features

  • Pool Private: No
  • Roof: Composition, Shingle
  • Spa: No
  • Construction Materials: Brick, Wood Siding

Garage/Parking

  • Parking: No
  • Total Parking Spaces: 4.00

Utilities

  • Heating: Yes
  • Laundry: No
  • Heating Type: Central, Fireplace(s)

Condo/Co-op/Association

  • Senior Community: No

Lot Info

  • Lot Size Sq Ft: 4067.00
  • Lot Size Acres: 0.0930

Multi Family

  • Gross Income: 9049.00
  • Gross Multiplier: 16.85
  • Gross Scheduled Income: 108588.00
  • Insurance Expense: 1080.00
  • Lot Size Area: 4067.0000 Square Feet
  • Net Operating Income: 103383.00
  • Number Of Separate Electric Meters: 2
  • Number Of Separate Gas Meters: 2
  • Number Of Separate Water Meters: 2
  • Number Of Units Total: 2
  • Operating Expense: 5205.00
  • Other Expense Description: 3000

Tax Info

  • Tax Area: 07001
  • Tax Block: 49
  • Tax Lot: 0.
  • Tax Tract Number: 670

Range of Values:

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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

Property History

Date Event Price Change Sq Ft Price
05/29/2015 05/29/15 Sold $2,150,000 -2.3% $614 / Sq Ft
02/05/2015 02/05/15 Pending -- -- --
11/19/2014 11/19/14 For Sale $2,200,000 +25.7% $629 / Sq Ft
06/11/2012 06/11/12 Sold $1,750,000 -4.4% $500 / Sq Ft
06/01/2012 06/01/12 Pending -- -- --
02/09/2012 02/09/12 For Sale $1,830,000 -- $523 / 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: U12000821

California Regional Multiple Listing Service (CRMLS)

APN: 424-462-12