NOT LISTED FOR SALE

602 Wilson St Salinas, CA 93901

South Salinas Neighborhood

Estimated Value: $732,000 - $873,000

4 Beds
2 Baths
1,850 Sq Ft
$421/Sq Ft Est. Value

Last Sold November 13, 2020

Last sale price $575,000 $311 Per Sq Ft

Est. 35% increase in value since last sale

Current estimated payment $4,636/month

8 Days on Market

Highlights

  • 2 Car Attached Garage
  • 1-Story Property
  • 5-minute walk to Central Park

About This Home

As of November 2020

Property has been a successful rental for many years, Long term tenants professionally managed. Good cash flow as an investment or a great place to live!

Last Agent to Sell the Property

Thomas Linthicum

Tom Linthicum RE Company License #00833540 Listed on: 10/04/2020

Last Buyer's Agent

RECIP

Out of Area Office License #00000000

Property Details

Home Type

  • Multi-Family

Year Built

  • 1946

Lot Details

  • 6,098

Parking

  • 2 Car Attached Garage

Home Design

  • Duplex
  • Composition Roof
  • Concrete Perimeter Foundation

Interior Spaces

  • 1,850 Sq Ft Home
  • 1-Story Property

Additional Features

  • 6,098 Sq Ft Lot
  • Wall Furnace

Listing and Financial Details

  • Total Actual Rent $25,200

Community Details

Overview

Building Details

  • 2 Leased Units
  • Insurance Expense $1,045
  • Manager Expense $2,470
  • Other Expense $1,200
  • Operating Expense $5,216
  • Gross Income $25,200

Property Details

Home Type

Multi-Family

Year Built

1946

Lot Details

0

Parking

2

Listing Details

  • Zoning: RM2.9
  • Subclass: Duplex
  • Listing Class: Residential Income (2-4 Units)
  • Structure Sq Ft: 1850
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Year Built: 1946

Interior Features

  • Living Sq Ft: 1850
  • Stories: 1

Exterior Features

  • Foundation: Concrete Perimeter
  • Roof: Composition

Garage/Parking

  • Garage Spaces: 2
  • Parking Spaces: 4
  • Garage Parking Features: Attached Garage

Utilities

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

Lot Info

  • Lot Acres: 0.1400
  • Lot Size Area Minimum Units: Square Feet
  • Minimum Lot Size: 6100.00
  • Lot Size Area Maximum Units: Square Feet
  • Maximum Lot Size: 6100.00

Rental Info

  • Existing Lease Term(s): Month To Month
  • Gross Rent Multiplier: 21.79
  • Number Of Leased: 2

Multi Family

  • Utilities: Public Utilities
  • Expense Insurance: 1045
  • Expense Management: 2470
  • Expenses Other: 1200
  • Expenses Total: 5216
  • Income Annual Gross: 25200.00
  • Income Annual Rental: 25200
  • Income Gross Scheduled: 25200
  • Meters: Separate Electric, Separate Gas, Separate Water
  • Number Of Buildings: 1
  • Operating Expenses Include: Maintenance - Capital Improvements
  • Tenant Expenses: Services - Sewer, Utilities - Gas, Utilities - Water

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Oct 4, 2020
Closed on
Nov 6, 2020
Sold by
Linthicum Ronald Scott and The Patricia L Opper Trust
Bought by
Vandang Viet and Tran Thanh Huong
Seller's Agent
Thomas Linthicum
Tom Linthicum RE Company
Buyer's Agent
RECIP
Out of Area Office
List Price
$549,000
Sold Price
$575,000
Premium/Discount to List
$26,000
4.74%
Current Estimated Value
$778,298

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$203,298
Avg. Annual Appreciation
5.98%
Original Mortgage
$431,250
Outstanding Balance
$311,495
Interest Rate
2.8%
Mortgage Type
New Conventional
Estimated Equity
$466,803

Purchase Details

Closed on
Dec 6, 2016
Sold by
Opfer Patricia L
Bought by
Opfer Patricia L and Patricia L Opfer Trust

Purchase Details

Closed on
Jul 20, 2016
Sold by
Opfer Patricia L
Bought by
Opfer Patricia L
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
Not Available
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
Vandang Viet $575,000 Chicago Title Company
Opfer Patricia L -- None Available
Opfer Patricia L -- None Available
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Vandang Viet $431,250
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
11/13/2020 11/13/20 Sold $575,000 +4.7% $311 / Sq Ft
10/13/2020 10/13/20 Pending -- -- --
10/04/2020 10/04/20 For Sale $549,000 -- $297 / Sq Ft
Source: MLSListings

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 $7,145 $622,397 $324,729 $297,668
2024 $7,145 $610,194 $318,362 $291,832
2023 $6,904 $598,230 $312,120 $286,110
2022 $6,645 $586,500 $306,000 $280,500
2021 $6,384 $575,000 $300,000 $275,000
2020 $5,569 $510,000 $300,000 $210,000
2019 $1,002 $86,030 $32,649 $53,381
2018 $985 $84,344 $32,009 $52,335
2017 $986 $82,691 $31,382 $51,309
2016 $986 $81,070 $30,767 $50,303
2015 $994 $79,853 $30,305 $49,548
2014 $931 $78,290 $29,712 $48,578
Source: Public Records

Agents Affiliated with this Home

  • T

    Seller's Agent in 2020

    Thomas Linthicum

    Tom Linthicum RE Company

  • R

    Buyer's Agent in 2020

    RECIP

    Out of Area Office

See All Agents

Map

Source: MLSListings

MLS Number: ML81814083

MLSListings

APN: 002-091-015-000

California Monterey County Salinas 93901 South Salinas

602 Wilson St, Salinas, CA

Not Listed for Sale

MultiFamily

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