NOT LISTED FOR SALE
9 Beds
4 Baths
3,150 Sq Ft
6,599 Sq Ft Lot

Sale Details

Date Sold: June 30, 2023

Last sale price $1,710,000 $543 Per Sq Ft

14 Days on Market

Highlights

  • Coin Laundry
  • Manuel De Vargas Elementary School Rated A-
  • 4-minute walk to John Mise Park

About This Home

As of June 2023

5061 Lapa is a well-maintained 4-plex in a highly desirable rental location. Cupertino schools, walking distance to schools and parks. Convenient to Highway 280 and Lawrence Expressway. 3 of the 4 units are currently vacant allowing a buyer to renovate the interiors and achieve the highest possible market rent. The property benefits from new copper plumbing and new sewer lines.

Last Agent to Sell the Property

Justin Bautista

Newmark Cornish & Carey License #01268331 Listed on: 05/11/2023

Last Buyer's Agent

RECIP

Out of Area Office License #00000000

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Property Details

Home Type

  • Multi-Family

Year Built

  • 1961

Lot Details

  • 6,599 Sq Ft Lot

Home Design

  • Quadruplex
  • Shingle Roof
  • Composition Roof
  • Concrete Perimeter Foundation

Interior Spaces

  • 3,150 Sq Ft Home
  • 2-Story Property

Parking

  • 1 Parking Space
  • 3 Carport Spaces
  • Uncovered Parking

Utilities

  • Wall Furnace
  • Heating System Uses Gas
  • Separate Meters
  • Individual Gas Meter

Listing and Financial Details

  • Total Actual Rent $104,028

Community Details

Overview

Amenities

  • Coin Laundry

Building Details

  • 1 Leased Unit
  • Gardener Expense $1,800
  • Insurance Expense $3,190
  • Maintenance Expense $3,000
  • Other Expense $4,161
  • Utility Expense $5,400
  • Trash Expense $2,400
  • Operating Expense $43,468
  • Gross Income $105,228

Property Details

Home Type

Multi-Family

Year Built

1961

Lot Details

6,599 Sq Ft Lot

Listing Details

  • Zoning: RM
  • Subclass: Fourplex
  • Listing Class: Residential Income (2-4 Units)
  • Structure Sq Ft: 3150
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Year Built: 1961

Interior Features

  • Living Sq Ft: 3150
  • Stories: 2
  • Laundry: Coin Operated

Exterior Features

  • Foundation: Concrete Perimeter And Slab
  • Roof: Composition, Shingle

Garage/Parking

  • Parking Spaces: 1
  • Garage Parking Features: Carport, Uncovered Parking
  • Carport Min: 3

Utilities

  • Heating System: Gas, Wall Furnace
  • Sewer/Septic System: Sewer - Public

Lot Info

  • Lot Acres: 0.1515
  • Lot Size Area Minimum Units: Square Feet
  • Minimum Lot Size: 6600.00
  • Lot Size Area Maximum Units: Square Feet
  • Maximum Lot Size: 6600.00

Rental Info

  • Existing Lease Term(s): Month To Month
  • Gross Rent Multiplier: 17.10
  • Number Of Leased: 1

Multi Family

  • Utilities: Individual Electric Meters, Individual Gas Meters
  • Expense Insurance: 3190
  • Expense Landscape: 1800
  • Expense Maintenance: 3000
  • Expenses Other: 4161
  • Expenses Total: 43468
  • Expenses Utility: 5400
  • Expense Trash: 2400
  • Income Annual Gross: 105228.00
  • Income Annual Rental: 104028
  • Income Gross Scheduled: 105228
  • Income Includes: Laundry, Rents
  • Income Other: 1200
  • Meters: Master Water, Separate Electric, Separate Gas
  • Number Of Buildings: 1
  • Operating Expenses Include: Fee - Property Tax, Insurance, Maintenance - Repair, Services - Gardener, Services - Sewer, Services - Trash Removal, Utilities - Electric, Utilities - Gas, Utilities - Hot Water, Utilities - Water, Vacancy Factor
  • Tenant Expenses: Utilities - Electric, Utilities - Gas, Utilities - Heating

Ownership History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Name Owned For Owner Type

Purchase Details

Listed on
May 11, 2023
Closed on
Jun 16, 2023
Sold by
Bought by
Seller's Agent
Justin Bautista
Newmark Cornish & Carey
Buyer's Agent
RECIP
Out of Area Office
List Price
$1,799,000
Sold Price
$1,710,000
Premium/Discount to List
-$89,000
-4.95%
Views
94

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,000,000
Outstanding Balance
$963,460
Interest Rate
6.39%
Mortgage Type
New Conventional

Purchase Details

Closed on
Jul 26, 2001
Sold by
Bought by

Purchase Details

Closed on
Dec 8, 1993
Sold by
Bought by
Source: Public Records

Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

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Purchase History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Buyer Sale Price Title Company
$1,710,000 First American Title
-- --
-- Old Republic Title Company
Source: Public Records

Mortgage History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Status Borrower Loan Amount
Open $1,000,000
Source: Public Records

Property History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Event Price List to Sale Price per Sq Ft
06/30/2023 06/30/23 Sold $1,710,000 -4.9% $543 / Sq Ft
05/26/2023 05/26/23 Pending -- -- --
05/11/2023 05/11/23 For Sale $1,799,000 -- $571 / Sq Ft
Source: MLSListings

Tax History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

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
2026 $23,146 $1,814,665 $1,480,385 $334,280
2025 $22,480 $1,779,084 $1,451,358 $327,726
2024 $22,480 $1,744,200 $1,422,900 $321,300
2023 $5,900 $330,327 $99,027 $231,300
2022 $6,075 $323,851 $97,086 $226,765
2021 $5,914 $317,502 $95,183 $222,319
2020 $5,856 $314,248 $94,208 $220,040
2019 $5,735 $308,087 $92,361 $215,726
2018 $5,591 $302,047 $90,550 $211,497
2017 $5,543 $296,125 $88,775 $207,350
2016 $5,351 $290,320 $87,035 $203,285
2015 $5,272 $285,960 $85,728 $200,232
2014 $5,013 $280,359 $84,049 $196,310
Source: Public Records

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Map

Source: MLSListings

MLS Number: ML81927874

MLSListings

APN: 381-43-029

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