Seller's Agent in 2020
Benn Vogelsang
NorthMarq Multifamily
(415) 250-4947
1 in this area
99 Total Sales
511 Park Way Chula Vista, CA 91910
Downtown Chula Vista Neighborhood
1
Bed
1
Bath
54,180
Sq Ft
--
Built
About This Home
As of March 2020The Royal Apartments consist of 129 units housed in 13 structures with pitched roofs built in 1962 with wood and stucco construction situated on one 104,979 sq ft parcel. The grounds feature spacious common grass areas and well-manicured trees and bushes giving the property the feel of a private community. The property features 120 parking spaces, a pool, and laundry facilities. The units are approximately 418 sq ft 1 Bedroom / 1 Bathroom units. Many of the tenants are long term and all tenants are month to month. There is 35%+ upside in the current rents. The units feature a mix of faux wood, vinyl plank, and carpeted flooring and some bathrooms have been remodeled with Espresso vanities. Routine maintenance has been performed during long term ownership but there is a great opportunity for value add for a new owner. The 129th unit is the front managers’ office and storage and has 2 bathrooms. There is a common laundry room with leased equipment consisting of 8 dryers and 8 washers as well as a soda machine.
Last Agent to Sell the Property
NorthMarq Multifamily License #01883437 Listed on: 01/06/2020
Last Buyer's Agent
OUT OF AREA
OUT OF AREA License #00000000
Property Details
Home Type
- Multi-Family
Parking
- 120 Parking Spaces
Home Design
Interior Spaces
- 1 Bedroom
- 54,180 Sq Ft Home
- 2-Story Property
Additional Homes
- Number of ADU Units: 129
Listing and Financial Details
- Total Actual Rent $133,252
Community Details
Overview
- 13 Buildings
- 129 Units
Building Details
- 127 Leased Units
- Operating Expense $664,405
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 03/20/2020 03/20/20 | Sold | $20,737,500 | -1.3% | $383 / Sq Ft |
| 02/25/2020 02/25/20 | Pending | -- | -- | -- |
| 01/19/2020 01/19/20 | For Sale | $21,000,000 | -- | $388 / Sq Ft |
Source: San Diego MLS
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 | $260,118 | $22,679,483 | $7,655,521 | $15,023,962 |
| 2024 | $260,118 | $22,234,788 | $7,505,413 | $14,729,375 |
| 2023 | $256,619 | $21,798,813 | $7,358,249 | $14,440,564 |
| 2022 | $249,242 | $21,371,386 | $7,213,970 | $14,157,416 |
| 2021 | $243,456 | $20,952,340 | $7,072,520 | $13,879,820 |
| 2020 | $30,284 | $2,626,850 | $931,638 | $1,695,212 |
| 2019 | $29,515 | $2,576,385 | $913,371 | $1,663,014 |
| 2018 | $28,891 | $2,511,524 | $895,462 | $1,616,062 |
| 2017 | $28,355 | $2,469,055 | $877,904 | $1,591,151 |
| 2016 | $27,181 | $2,377,750 | $860,691 | $1,517,059 |
| 2015 | $27,477 | $2,401,884 | $847,763 | $1,554,121 |
| 2014 | $27,167 | $2,366,659 | $831,157 | $1,535,502 |
Source: Public Records
Agents Affiliated with this Home
-
Benn Vogelsang
-
O
Buyer's Agent in 2020
OUT OF AREA
OUT OF AREA
Map
Source: San Diego MLS
MLS Number: 200003120
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