NOT LISTED FOR SALE

55 Wright Ave Morgan Hill, CA 95037

Estimated Value: $819,000 - $1,221,000

6 Beds
3 Baths
2,232 Sq Ft
$457/Sq Ft Est. Value

Last Sold January 31, 2024

Last sale price $950,000 $426 Per Sq Ft

Est. 7% increase in value since last sale

Current estimated payment $5,358/month

53 Days on Market

Highlights

  • Tile Flooring
  • 1-Story Property
  • 4-minute walk to Morgan Hill Historical Society
  • Ann Sobrato High School Rated A

About This Home

As of January 2024

Three freestanding units on one large parcel with residential medium attached (RAM), which allows 16-24 units per acre. The adjacent property, 65 Wright Avenue, is also for sale for $950,000. The combined lot size is 22,680 according to Reallist.

Last Agent to Sell the Property

Hap Albers

Albers Real Estate Investment Company License #01006595 Listed on: 10/30/2023

Last Buyer's Agent

Bartow VanVoorhis

B W Van Voorhis License #00640987

Property Details

Home Type

  • Multi-Family

Year Built

  • 1949

Lot Details

  • 0.29 Acre Lot

Home Design

  • Triplex
  • Slab Foundation
  • Composition Roof
  • Concrete Perimeter Foundation

Interior Spaces

  • 2,232 Sq Ft Home
  • 1-Story Property
  • Washer and Dryer Hookup

Kitchen

  • Electric Oven
  • Formica Countertops

Flooring

  • Carpet
  • Tile
  • Vinyl

Parking

  • 6 Parking Spaces
  • No Garage
  • On-Street Parking
  • Off-Street Parking

Utilities

  • Cooling System Mounted To A Wall/Window
  • Wall Furnace
  • Heating System Uses Gas
  • Separate Meters
  • Individual Gas Meter

Listing and Financial Details

  • Total Actual Rent $51,414

Community Details

Overview

  • 2,232 Sq Ft Building

Building Details

  • 3 Leased Units
  • Gardener Expense $1,000
  • Insurance Expense $2,044
  • Maintenance Expense $3,000
  • Manager Expense $3,000
  • Other Expense $100
  • Utility Expense $5,122
  • Trash Expense $1,512
  • Operating Expense $27,937
  • Gross Income $51,414

Property Details

Home Type

Multi-Family

Year Built

1949

Lot Details

0.29 Acres

Listing Details

  • Zoning: R3
  • Subclass: Triplex
  • Listing Class: Residential Income (2-4 Units)
  • Structure Sq Ft: 2232
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Year Built: 1949

Interior Features

  • Kitchen: Countertop - Formica, Oven Range - Electric, Refrigerator
  • Living Sq Ft: 2232
  • Stories: 1
  • Laundry: Hookups Only
  • Flooring: Carpet, Tile, Vinyl / Linoleum

Exterior Features

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

Garage/Parking

  • Parking Spaces: 6
  • Garage Parking Features: No Garage, Off-Street Parking, On Street, Parking Area

Utilities

  • Cooling System: Window / Wall Unit
  • Heating System: Gas, Wall Furnace
  • Sewer/Septic System: Sewer Connected

Schools

  • High School: 1080

Lot Info

  • Lot Acres: 0.2900
  • Lot Size Area Minimum Units: Square Feet
  • Minimum Lot Size: 12632.00
  • Lot Size Area Maximum Units: Square Feet
  • Maximum Lot Size: 12632.00

Rental Info

  • Existing Lease Term(s): Month To Month
  • Gross Rent Multiplier: 20.42
  • Number Of Leased: 3

Multi Family

  • Utilities: Individual Electric Meters, Individual Gas Meters
  • Expense Insurance: 2044
  • Expense Landscape: 1000
  • Expense Maintenance: 3000
  • Expense Management: 3000
  • Expenses Other: 100
  • Expenses Total: 27937
  • Expenses Utility: 5122
  • Expense Trash: 1512
  • Income Annual Gross: 51414.00
  • Income Annual Rental: 51414
  • Income Gross Scheduled: 51414
  • Income Includes: Rents
  • Meters: Master Water, Separate Electric, Separate Gas
  • Number Of Buildings: 3
  • Operating Expenses Include: Fee - Property Management, Fee - Property Tax, Insurance, Maintenance, Maintenance - Repair, Services - Sewer, Services - Trash Removal, Utilities - Water, Vacancy Factor
  • Tenant Expenses: Utilities - Electric, Utilities - Gas, Utilities - Heating
  • Vacancy Factor: 3

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Oct 30, 2023
Closed on
Jan 29, 2024
Sold by
Ramirez Eladio Rajas
Bought by
Guadalupe Amalia Cuena
Seller's Agent
Hap Albers
Albers Real Estate Investment Company
Buyer's Agent
Bartow VanVoorhis
B W Van Voorhis
List Price
$1,050,000
Sold Price
$950,000
Premium/Discount to List
-$100,000
-9.52%
Views
117
Current Estimated Value
$1,019,412

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$69,412
Avg. Annual Appreciation
3.48%
Original Mortgage
$760,000
Outstanding Balance
$746,569
Interest Rate
6.61%
Mortgage Type
New Conventional
Estimated Equity
$272,843

Purchase Details

Listed on
Oct 30, 2023
Closed on
Jan 2, 2024
Sold by
Gongs Investment Group Llc
Bought by
Ramirez Eladio Rojas and Ramirez Guadalupe Amalia
Seller's Agent
Hap Albers
Albers Real Estate Investment Company
Buyer's Agent
Bartow VanVoorhis
B W Van Voorhis
List Price
$1,050,000
Sold Price
$950,000
Premium/Discount to List
-$100,000
-9.52%
Views
117

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$760,000
Outstanding Balance
$746,569
Interest Rate
6.61%
Mortgage Type
New Conventional
Estimated Equity
$272,843

Purchase Details

Closed on
May 22, 2001
Sold by
Cristobal Patricia Gong and Gong Gerald
Bought by
Gongs Investment Group Llc

Purchase Details

Closed on
May 1, 2001
Sold by
Gong Kenneth and Hernandez Colleen Gong
Bought by
Cristobol Patricia Gong and Gong Gerald
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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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
Guadalupe Amalia Cuena -- Chicago Title
Ramirez Eladio Rojas -- Chicago Title
Ramirez Eladio Rojas $950,000 Chicago Title
Gongs Investment Group Llc -- --
Cristobol Patricia Gong -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Guadalupe Amalia Cuena $760,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
01/31/2024 01/31/24 Sold $950,000 -9.5% $426 / Sq Ft
12/23/2023 12/23/23 Pending -- -- --
10/30/2023 10/30/23 For Sale $1,050,000 -- $470 / Sq Ft
Source: MLSListings

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 $1,273 $969,000 $726,750 $242,250
2024 $1,273 $97,110 $26,467 $70,643
2023 $1,257 $95,207 $25,949 $69,258
2022 $1,235 $93,341 $25,441 $67,900
2021 $1,204 $91,512 $24,943 $66,569
2020 $1,177 $90,575 $24,688 $65,887
2019 $1,206 $88,800 $24,204 $64,596
2018 $1,208 $87,060 $23,730 $63,330
2017 $1,196 $85,354 $23,265 $62,089
2016 $1,116 $83,681 $22,809 $60,872
2015 $1,104 $82,425 $22,467 $59,958
2014 $1,096 $80,811 $22,027 $58,784
Source: Public Records

Agents Affiliated with this Home

  • Hap Albers

    Seller's Agent in 2024

    Hap Albers

    Albers Real Estate Investment Company

    (408) 893-6002

    3 in this area

    59 Total Sales

    Hap Albers
    Section Image

  • B

    Buyer's Agent in 2024

    Bartow VanVoorhis

    B W Van Voorhis

    (707) 782-9119

    1 in this area

    2 Total Sales

    Bartow VanVoorhis
    Section Image

  • B

    Buyer's Agent in 2024

    Bill Dalton

See All Agents

Map

Source: MLSListings

MLS Number: ML81946539

MLSListings

APN: 764-12-014

California Santa Clara County Morgan Hill 95037

55 Wright Ave, Morgan Hill, CA

Not Listed for Sale

MultiFamily

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