J
Seller's Agent in 2019
John Mociak
Avenue Realty Group
521 W Riggin St Monterey Park, CA 91754
Estimated Value: $1,532,000 - $1,951,000
8
Beds
5
Baths
3,681
Sq Ft
$468/Sq Ft
Est. Value
Highlights
- Cooling System Powered By Gas
- Laundry Room
- Forced Air Heating and Cooling System
About This Home
As of April 2019Rare opportunity to acquire a cash flow residential income property in highly sought after Monterey Park.
Two (2) buildings, a front triplex (2+1, 2+1, 1+1) with on site parking and a rear house (3+2) with a private entrance, sweeping mountain views, and two car garage.
Well located asset: only a few blocks to Ralphs Supermarket, Starbucks, and Atlantic Square, a 208,000 square foot community shopping center. Excellent investment metrics: $99,000 Gross Scheduled Income, 4.92% Cap Rate, 14.22 Gross Rent Multiplier.
Exterior renovations include: new roofs, new sub-roofing, new fascia board, new windows throughout, new exterior paint, new landscaping, and more. Interior renovations include: new flooring, new cabinets, new counter tops, remodeled bathrooms, remodeled master, remodeled kitchens, and more.
Tenants enjoy spacious living, washer/dryer hook ups in each unit, on site parking, and good access to nearby freeways: 60 freeway, the 710 freeway, and the 5 freeway.
Monterey Park was named the third best American City to live in by Money Magazine in 2017, and has been thriving ever since. The multifamily rental market continues to demonstrate strength and growth due to the area's prime location near major freeways , rail transportation, retail and shopping centers, schools and colleges, as well as many parks, cultural venues/events, and numerous restaurants with renowned domestic and international cuisine.
Last Agent to Sell the Property
John Mociak
Avenue Realty Group License #01708711 Listed on: 03/22/2019
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $20,419
Year Built
- Built in 1948
Lot Details
- 7,531 Sq Ft Lot
- No Common Walls
- Density is up to 1 Unit/Acre
Parking
- 4 Open Parking Spaces
- 2 Car Garage
Home Design
- 3,681 Sq Ft Home
Bedrooms and Bathrooms
- 8 Bedrooms
- 5 Bathrooms
Laundry
- Laundry Room
- Washer and Gas Dryer Hookup
Utilities
- Cooling System Powered By Gas
- Forced Air Heating and Cooling System
- Combination Of Heating Systems
- Wall Furnace
Additional Features
- Exterior Lighting
- Suburban Location
Listing and Financial Details
- Tax Lot 20
- Tax Tract Number 14542
- Assessor Parcel Number 5266011014
Community Details
Overview
- 2 Buildings
- 4 Units
Building Details
- 4 Separate Electric Meters
- 4 Separate Gas Meters
- 1 Separate Water Meter
- Gardener Expense $1,080
- Insurance Expense $1,440
- Maintenance Expense $2,000
- Trash Expense $1,000
- Water Sewer Expense $2,405
- New Taxes Expense $18,304
- Operating Expense $26,704
- Gross Income $98,940
- Net Operating Income $69,326
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Closed on
Apr 17, 2020
Sold by
Kladouris Rita
Bought by
Spruce Street Apartments Llc
Current Estimated Value
Purchase Details
Listed on
Mar 22, 2019
Closed on
Apr 5, 2019
Sold by
Josef Stefan Sauer and Sauer Rev T Maria Q
Bought by
Kladouris Rita
Seller's Agent
John Mociak
Avenue Realty Group
Buyer's Agent
Hagop Yapoujian
HYNET REALTY
List Price
$1,408,000
Sold Price
$1,400,000
Premium/Discount to List
-$8,000
-0.57%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
3.24%
Original Mortgage
$1,050,000
Interest Rate
4.3%
Mortgage Type
New Conventional
Purchase Details
Listed on
Sep 21, 2018
Closed on
Oct 18, 2018
Sold by
Broussard Jack S and Broussard Abigael Calva
Bought by
Sauer Josef Stefan and Sauer Maria Q
Seller's Agent
Diane Holguin
Coldwell Banker Realty San Marino
Buyer's Agent
John Mociak
Avenue Realty Group
List Price
$1,200,000
Sold Price
$1,150,000
Premium/Discount to List
-$50,000
-4.17%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
45.98%
Original Mortgage
$690,000
Interest Rate
4.5%
Mortgage Type
New Conventional
Purchase Details
Closed on
Mar 9, 2017
Sold by
Broussard Jack S and Broussard Abigael Calva
Bought by
Broussard Jack S and Broussard Abigael Calva
Purchase Details
Closed on
Dec 14, 2015
Sold by
Broussard Abigael Calva and Calva Family Trust 2006
Bought by
Broussard Abigael Calva
Purchase Details
Closed on
Jul 19, 2006
Sold by
Calva Henry and Calva Abigael
Bought by
Calva Enrique Henry and Calva Abigael
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| Spruce Street Apartments Llc | -- | None Available | |
| Kladouris Rita | $1,400,000 | Fidelity National Title | |
| Sauer Josef Stefan | $1,150,000 | Fidelity National Title | |
| Broussard Jack S | -- | None Available | |
| Broussard Jack S | -- | None Available | |
| Broussard Abigael Calva | -- | None Available | |
| Calva Enrique Henry | -- | None Available |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Previous Owner | Kladouris Rita | $1,050,000 | |
| Previous Owner | Sauer Josef Stefan | $690,000 |
Source: Public Records
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 04/30/2019 04/30/19 | Sold | $1,400,000 | -0.6% | $380 / Sq Ft | |
| 03/30/2019 03/30/19 | Pending | -- | -- | -- | |
| 03/22/2019 03/22/19 | For Sale | $1,408,000 | +22.4% | $383 / Sq Ft | |
| 10/23/2018 10/23/18 | Sold | $1,150,000 | -4.2% | $312 / Sq Ft | View Prior Sale |
| 09/28/2018 09/28/18 | Pending | -- | -- | -- | |
| 09/21/2018 09/21/18 | For Sale | $1,200,000 | -- | $326 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History Compared to Growth
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 | $20,419 | $1,561,722 | $792,016 | $769,706 |
| 2024 | $20,419 | $1,531,101 | $776,487 | $754,614 |
| 2023 | $20,478 | $1,501,080 | $761,262 | $739,818 |
| 2022 | $19,781 | $1,471,648 | $746,336 | $725,312 |
| 2021 | $19,108 | $1,442,793 | $731,702 | $711,091 |
| 2020 | $18,963 | $1,428,000 | $724,200 | $703,800 |
| 2019 | $3,266 | $1,150,000 | $460,000 | $690,000 |
| 2018 | $7,046 | $473,411 | $200,284 | $273,127 |
| 2016 | $6,764 | $455,029 | $192,507 | $262,522 |
| 2015 | $6,371 | $448,195 | $189,616 | $258,579 |
| 2014 | $6,303 | $439,416 | $185,902 | $253,514 |
Source: Public Records
Agents Affiliated with this Home
-
-
Hagop Yapoujian
Buyer's Agent in 2019
Hagop Yapoujian
HYNET REALTY
(323) 724-0000
28 Total Sales
-
D
Seller's Agent in 2018
Diane Holguin
Coldwell Banker Realty San Marino
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: SB19064123
APN: 5266-011-014
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Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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