NOT LISTED FOR SALE

Estimated Value: $850,000 - $993,000

4 Beds
2 Baths
1,440 Sq Ft
$652/Sq Ft Est. Value

Last Sold March 08, 2023

Last sale price $870,000 $604 Per Sq Ft

Est. 8% increase in value since last sale

Current estimated payment $5,944/month

4 Days on Market

Highlights

  • Zoned Cooling
  • Partially Fenced Property
  • 2-minute walk to Northmont Park
  • Grossmont High School Rated A

About This Home

As of March 2023

Every so often you see an amazing opportunity, one that exudes a pride of ownership. This gorgeous property is an example of just that. Located in the heart of Fletcher Hills, offering 2 units, each a 2+1 configuration, each having been updated throughout. The property sits on a corner lot with a large private rear-yard, attached 2 car garage w/storage, washer/dryer(s) and large driveway for off street parking. If you’re in the market for a ‘turn-key’ investment property that is tenant occupied, look no further – this property is a MUST SEE! The property has been extensively updated throughout. The sewer line was replaced entirely with ABS to the City sewer line in 2019. The work includes a 10-year transferrable warranty. The exterior trim was painted 18 months ago, the interior was painted 3 years ago. The bathrooms and kitchens have both been updated within the past 5 years to include new cabinets, flooring and appliances. The windows have been updated with Milgard Aluminum units. The garage doors are fully insulated aluminum doors both with automated openers. The exterior irrigation is fully automated.

Last Agent to Sell the Property

Gregory A. Moser

Archstone Realty Group License #01499803 Listed on: 01/27/2023

Last Buyer's Agent

Terri Hunter

Hunter West Properties License #01315181

Hunter West Properties

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $11,503

Year Built

  • 1952

Lot Details

  • 6,781 Sq Ft Lot
  • Partially Fenced Property
  • Sprinklers on Timer

Home Design

  • Composition Roof
  • Stucco Exterior

Interior Spaces

  • 2-Story Property

Utilities

  • Zoned Cooling
  • Separate Water Meter
  • Gas Water Heater

Listing and Financial Details

  • Tenant pays for sewer, trash, electricity, gas/propane, hot water
  • Assessor Parcel Number 486-331-13-00

Community Details

Overview

  • 2 Units
  • Severin Manor 3 Community

Building Details

  • Net Operating Income $26,200

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$11,503

Year Built

1952

Lot Details

0

Listing Details

  • Class: 2-4 UNITS
  • Market Area: East County
  • Cross Street: W. Manor Dr
  • Neighborhood: Fletcher Hills
  • Supplement: The property has been extensively updated throughout. The sewer line was replaced entirely with ABS to the City sewer line in 2019. The work includes a 10-year transferrable warranty. The exterior trim was painted 18 months ago, the interior was painted 3 years ago. The bathrooms and kitchens have both been updated within the past 5 years to include new cabinets, flooring and appliances. The windows have been updated with Milgard Aluminum units. The garage doors are fully insulated aluminum doors both with automated openers. The exterior irrigation is fully automated.
  • LP / Sq Ft: 21.55
  • Stories: 2 Story
  • Sale Price List Price: 1.02
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Year Built: 1952

Exterior Features

  • Exterior Material: Stucco
  • Fencing: Partial
  • Roof: Composition

Utilities

  • Cooling: Zoned Area(s)
  • Sewer/Septic: Sewer Connected
  • Water: Meter on Property
  • Water Heater Type: Gas

Condo/Co-op/Association

  • Complex Name: Severin Manor 3
  • Community: LA MESA

Lot Info

  • Irrigation: Automatic
  • Lot Size: 4,000-7,499 SF
  • Assessor Parcel Number: 486-331-13-00
  • Estimated Lot Sq Ft: 6781

Rental Info

  • Tenant Pays: Sewer, Trash, Electricity, Gas/Propane, Hot Water

Multi Family

  • No. of Units: 2
  • Actual Net Operating Income: 26200
  • Annual Expense Actual: 10139
  • Annual Expense Projected: 10400
  • Gross Rent Multiplier Actual: 23.19
  • Gross Rent Multiplier Projected: 17.05
  • Gross Sched Income Actual: 3050
  • Gross Sched Income Projected: 4150
  • Number Of Buildings: 1
  • Number Of Units With Cooling: 2
  • Number Of Units With Dishwashers: 2
  • Number Of Units With Dryers: 2
  • Number Of Units With Garage: 2
  • Number Of Units With Patios: 2
  • Number Of Units With Range Oven: 2
  • Number Of Units With Refrigerator: 2
  • Number Of Units With Washers: 2

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jan 27, 2023
Closed on
Feb 8, 2023
Sold by
Avk Llc
Bought by
Engel Joshua and Neal Christina
Seller's Agent
Gregory A. Moser
Archstone Realty Group
Buyer's Agent
Terri Hunter
Hunter West Properties
List Price
$849,000
Sold Price
$870,000
Premium/Discount to List
$21,000
2.47%
Total Days on Market
4
Views
154
Current Estimated Value
$939,219

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$69,219
Avg. Annual Appreciation
3.48%
Original Mortgage
$808,997
Outstanding Balance
$787,214
Interest Rate
6.13%
Mortgage Type
Balloon
Estimated Equity
$152,005

Purchase Details

Closed on
Mar 25, 2013
Sold by
Bourus Anthony J and Bourus Victoria Corrigan
Bought by
Avk Llc

Purchase Details

Closed on
Jul 29, 2003
Sold by
Garofalo Felix A
Bought by
Bourus Anthony J and Bourus Victoria C

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$219,060
Interest Rate
5.46%
Mortgage Type
Unknown
Source: Public Records

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Range of Values:

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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
Engel Joshua $870,000 First American Title
Avk Llc -- None Available
Bourus Anthony J $353,000 First American Title
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Engel Joshua $808,997
Previous Owner Bourus Anthony J $219,060
Previous Owner Garofalo Felix A $45,000,000
Previous Owner Garofalo Felix A $100,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
03/08/2023 03/08/23 Sold $870,000 +2.5% $604 / Sq Ft
02/01/2023 02/01/23 Pending -- -- --
01/27/2023 01/27/23 For Sale $849,000 -- $590 / Sq Ft
Source: San Diego MLS

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
2024 $11,503 $887,399 $502,778 $384,621
2023 $6,704 $482,397 $273,314 $209,083
2022 $6,565 $472,939 $267,955 $204,984
2021 $6,392 $463,666 $262,701 $200,965
2020 $6,167 $458,913 $260,008 $198,905
2019 $6,119 $449,915 $254,910 $195,005
2018 $6,010 $441,094 $249,912 $191,182
2017 $5,883 $432,446 $245,012 $187,434
2016 $5,733 $423,967 $240,208 $183,759
2015 $5,312 $385,000 $216,000 $169,000
2014 $5,236 $385,000 $216,000 $169,000
Source: Public Records

Agents Affiliated with this Home

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Map

Source: San Diego MLS

MLS Number: 230001675

San Diego MLS

APN: 486-331-13