NOT LISTED FOR SALE

5255 Elmwood Ave Lynwood, CA 90262

Estimated Value: $823,000 - $882,000

5 Beds
3 Baths
1,900 Sq Ft
$451/Sq Ft Est. Value

Last Sold September 29, 2020

Last sale price $700,000 $368 Per Sq Ft

Est. 23% increase in value since last sale

Current estimated payment $5,453/month

22 Days on Market

About This Home

As of September 2020

GREAT RENTAL INCOME POTENTIAL! Two beautifully clean and updated units with newer exterior and interior paint, tile flooring throughout, and modern light fixtures. Each kitchen has been updated with wood cabinets, tile backsplash, and granite counter tops. Airy and bright bathrooms have also been updated including showers, flooring and vanities. Washer and Dryer Hookups are included in both units along with well sized parking, welcoming patios for family gatherings and space for kids to play or for a pet. Units are located close to transportation, restaurants, shopping centers, and convenient access to freeway. This is a must see!!! Great Opportunity for a First-time Buyer to own a duplex (live in one and rent the other unit?) or for an Investor to add to their portfolio.

Last Agent to Sell the Property

Salvador Almanza

Keller Williams The Lakes License #01969917 Listed on: 04/19/2020

Keller Williams The Lakes

Last Buyer's Agent

Anabella Jimenez

Century 21 Realty Masters License #01384351

Century 21 Realty Masters

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $10,603

Year Built

  • Built in 1948

Lot Details

  • 5,295 Sq Ft Lot
  • 1 Common Wall
  • Density is up to 1 Unit/Acre

Parking

  • 2 Car Garage

Home Design

  • Property Attached

Interior Spaces

  • 1,900 Sq Ft Home
  • Dining Room with Fireplace

Bedrooms and Bathrooms

  • 5 Bedrooms
  • 3 Bathrooms

Laundry

  • Laundry Room
  • Washer and Gas Dryer Hookup

Additional Features

  • Exterior Lighting
  • Urban Location
  • Wall Furnace

Listing and Financial Details

  • Tax Lot 16
  • Tax Tract Number 10634
  • Assessor Parcel Number 6194006019

Community Details

Overview

  • 2 Units

Building Details

  • 2 Leased Units
  • Rent Control
  • 2 Separate Electric Meters
  • 2 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $1,000
  • Fuel Expense $1,000
  • Insurance Expense $2,400
  • Trash Expense $720
  • Water Sewer Expense $1,000
  • New Taxes Expense $4,783
  • Operating Expense $10,983
  • Gross Income $4,150
  • Net Operating Income $300

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$10,603

Year Built

Built in 1948

Lot Details

0

Parking

2

Listing Details

  • Price Per Unit: 33500
  • Property Attached: Yes
  • Water Sewer Expenses: 1000.00
  • Zoning: LYR3*
  • Property Type: Residential Income
  • Parcel Number: 6194006019
  • Year Built: 1948
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: Yes
  • Common Walls: 1 Common Wall
  • Fireplace Features: Dining Room
  • Levels: One
  • Price Per Square Foot: 368.42

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 2.00
  • Total Parking Spaces: 2.00

Utilities

  • Heating: Yes
  • Laundry: Yes
  • Heating Type: Wall Furnace
  • Laundry Features: Gas & Electric Dryer Hookup, Washer Hookup
  • Sewer: Public Sewer
  • Trash Expense: 720.00
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Sidewalks, Street Lights, Urban

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 0-1 Unit/Acre
  • Lot Size Sq Ft: 5295.00
  • Lot Size Acres: 0.1216

Multi Family

  • Electric Expense: 1000.00
  • Fuel Expense: 1000.00
  • Gross Income: 4150.00
  • Gross Scheduled Income: 4150.00
  • Insurance Expense: 2400.00
  • Lot Size Area: 5295.0000 Square Feet
  • Net Operating Income: 300.00
  • Number Of Separate Electric Meters: 2
  • Number Of Separate Gas Meters: 2
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 2
  • Number Of Units Total: 2
  • Operating Expense: 300.00
  • Rent Control: Yes
  • Total Actual Rent: 1650.00
  • Total Expenses: 10983.00

Tax Info

  • New Taxes Expense: 4783.00
  • Tax Census Tract: 5400.00
  • Tax Lot: 16
  • Tax Tract Number: 10634

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Apr 19, 2020
Closed on
Sep 23, 2020
Sold by
Romero Oliva Jose Luis
Bought by
Santillan Daisy
Seller's Agent
Salvador Almanza
Keller Williams The Lakes
Buyer's Agent
Anabella Jimenez
Century 21 Realty Masters
List Price
$670,000
Sold Price
$700,000
Premium/Discount to List
$30,000
4.48%
Current Estimated Value
$857,623

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$157,623
Avg. Annual Appreciation
4.68%
Original Mortgage
$687,321
Outstanding Balance
$611,335
Interest Rate
2.9%
Mortgage Type
FHA
Estimated Equity
$267,015

Purchase Details

Listed on
Apr 19, 2020
Closed on
Aug 24, 2020
Sold by
Arnero Alejandra and Alvarez Santa
Bought by
Santillan Daisy
Seller's Agent
Salvador Almanza
Keller Williams The Lakes
Buyer's Agent
Anabella Jimenez
Century 21 Realty Masters
List Price
$670,000
Sold Price
$700,000
Premium/Discount to List
$30,000
4.48%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$687,321
Outstanding Balance
$611,335
Interest Rate
2.9%
Mortgage Type
FHA
Estimated Equity
$267,015

Purchase Details

Closed on
Oct 10, 2019
Sold by
Alvarez Juan
Bought by
Alvarez Santa and Arnero Santa

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$325,000
Interest Rate
3.4%
Mortgage Type
New Conventional

Purchase Details

Closed on
Aug 28, 2019
Sold by
Arnero Enrique and Arnero Alejandra
Bought by
Arnero Alejandra and Alvarez Santa

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$325,000
Interest Rate
3.4%
Mortgage Type
New Conventional

Purchase Details

Closed on
Jan 24, 2003
Sold by
Arnero Enrique and Arnero Alejandra
Bought by
Arnero Enrique and Arnero Santa

Purchase Details

Closed on
Jul 20, 1998
Sold by
Arnero Rebeca
Bought by
Arnero Enrique and Arnero Alejandra

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$110,000
Interest Rate
6.9%

Purchase Details

Closed on
Mar 13, 1995
Sold by
Arnero Rebeca
Bought by
Arnero Rebeca and Arnero Enrique
Source: Public Records

Range of Values:

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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
Santillan Daisy -- Lawyers Title Company
Santillan Daisy $700,000 Lawyers Title Company
Alvarez Santa -- Chicago Title
Arnero Alejandra -- Chicago Title Co
Arnero Alejandra $325,000 Chicago Title Company
Arnero Enrique -- Chicago Title Company
Arnero Enrique -- --
Arnero Enrique -- Southland Title Corporation
Arnero Rebeca -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Santillan Daisy $687,321
Previous Owner Arnero Alejandra $325,000
Previous Owner Arnero Enrique $151,000
Previous Owner Arnero Enrique $25,000
Previous Owner Arnero Enrique $110,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
09/29/2020 09/29/20 Sold $700,000 +4.5% $368 / Sq Ft
08/10/2020 08/10/20 For Sale $670,000 0.0% $353 / Sq Ft
05/11/2020 05/11/20 Pending -- -- --
04/19/2020 04/19/20 For Sale $670,000 -- $353 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

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 $10,603 $757,701 $324,729 $432,972
2024 $10,603 $742,845 $318,362 $424,483
2023 $10,526 $728,280 $312,120 $416,160
2022 $10,145 $714,000 $306,000 $408,000
2021 $9,770 $700,000 $300,000 $400,000
2020 $5,884 $412,644 $197,828 $214,816
2019 $4,782 $302,279 $117,779 $184,500
2018 $4,393 $296,353 $115,470 $180,883
2016 $4,095 $284,847 $110,987 $173,860
2015 $4,015 $280,569 $109,320 $171,249
2014 $3,931 $275,074 $107,179 $167,895
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: DW20076006

California Regional Multiple Listing Service (CRMLS)

APN: 6194-006-019