$2,625,000
$125K PRICE DROP

Estimated payment $16,374/month

Total Views 7,380
3 Beds
3 Baths
1,939 Sq Ft
$1,354 Price per Sq Ft

About This Home

617-21 Lombardy Lane, "Villa Lombardy", consists of two buildings on one lot. The first building is a newly renovated two-bedroom single-family residence. In the rear of the property is a separate building with a one-bedroom unit upstairs and a non-conforming studio downstairs. Within the past few years, there has been over $600,000 into capital improvements put into the front single-family home at 617 Lombardy Lane. Located within walking distance to several iconic beaches, this is an ideal opportunity for investors.

Listing Agent

Mike O’Neill

CB Richard Ellis, Inc. License #02036937 Listed on: 05/01/2025

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $22,006

Year Built

  • Built in 1936

Lot Details

  • 3,916 Sq Ft Lot

Interior Spaces

  • 1,939 Sq Ft Home
  • 2-Story Property

Bedrooms and Bathrooms

  • 3 Bedrooms
  • 3 Bathrooms

Parking

  • 3 Car Garage
  • Uncovered Parking

Community Details

  • 2 Buildings
  • 3 Units

Listing and Financial Details

  • Assessor Parcel Number 644-098-25

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$22,006

Year Built

Built in 1936

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Levels: Two
  • Street Number Display: Yes
  • Living Area: 1939
  • Lot Acreage: 0.0899
  • Stories: 2
  • Year Built: 1936
  • Number Of Photos: 10
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Bedrooms: 3
  • Total Bathrooms: 3.00
  • Price Per S Q F T: 1353.79

Exterior Features

  • Other Structures: None

Garage/Parking

  • Parking Garage: Garage, Uncovered
  • Total Parking: 3

Lot Info

  • Assessed Improvement Percent: 3.74
  • Assessed Improvement Value: 72300
  • Assessed Land Percent: 96.26
  • Assessed Land Value: 1860991
  • Total Assessed Value: 1933291
  • Assessor Parcel Number: 644-098-25
  • Lot Size Area: 3916

Multi Family

  • Unit Type: 2106, 2107, 2108
  • Gross Rent Multiplier: 20.70
  • Number Of Units: 3
  • Total Annual Expense: 41008
  • Type Of Units: Apartments
  • Vacancy Rate: 3%

Map

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





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 $22,006 $1,933,291 $1,860,991 $72,300
2023 $22,026 $1,887,854 $1,824,501 $63,353
2022 $21,475 $1,850,838 $1,788,727 $62,111
2021 $20,930 $1,814,548 $1,753,654 $60,894
2020 $20,565 $1,795,943 $1,735,673 $60,270
2019 $20,153 $1,760,729 $1,701,640 $59,089
2018 $19,725 $1,726,205 $1,668,274 $57,931
2017 $19,291 $1,692,358 $1,635,562 $56,796
2016 $18,882 $1,659,175 $1,603,492 $55,683
2015 $18,552 $1,634,253 $1,579,406 $54,847
2014 $18,170 $1,602,241 $1,548,468 $53,773
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
06/30/2025 06/30/25 Price Changed $2,625,000 -4.5% $1,354 / Sq Ft
05/01/2025 05/01/25 For Sale $2,750,000 0.0% $1,418 / Sq Ft
08/15/2020 08/15/20 Rented $3,950 0.0% --
08/07/2020 08/07/20 Under Contract -- -- --
08/03/2020 08/03/20 For Rent $3,950 +6.8% --
10/03/2015 10/03/15 Rented $3,700 0.0% --
09/28/2015 09/28/15 Off Market $3,700 -- --
09/17/2015 09/17/15 For Rent $3,700 0.0% --
05/30/2013 05/30/13 Sold $1,595,000 +6.7% $823 / Sq Ft
05/21/2013 05/21/13 Pending -- -- --
05/06/2013 05/06/13 For Sale $1,495,000 -- $771 / Sq Ft
Source: The MLS

Purchase History

Date Type Sale Price Title Company
Grant Deed -- Chicago Title Company
Grant Deed $1,595,000 Chicago Title Company
Grant Deed -- Stewart Title Company
Interfamily Deed Transfer -- None Available
Grant Deed $1,220,000 Stewart Title Company
Interfamily Deed Transfer -- First American Title Ins Co
Grant Deed $465,000 Guardian Title Company
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Previous Owner $150,000 Purchase Money Mortgage
Previous Owner $506,000 Unknown
Previous Owner $100,000 Credit Line Revolving
Previous Owner $50,000 Unknown
Previous Owner $365,000 Seller Take Back
Source: Public Records

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Source: The MLS

MLS Number: 25533049

The MLS

APN: 644-098-25