NOT LISTED FOR SALE

640 E 8th St Gilroy, CA 95020

12 Beds
8 Baths
4,784 Sq Ft
0.31 Acres

Last Sold June 22, 2016

Last sale price $1,125,000 $235 Per Sq Ft

9 Days on Market

Highlights

  • 4 Car Detached Garage
  • Tile Flooring
  • Forced Air Heating and Cooling System

About This Home

As of June 2016

18 year old spacious 4 plex with below market rents. Upside potential. Approximatey 1196 sqft each, 3 beds/2 baths each, large walk-in closets, tile floors. Open and bright, 2 buildings, no common walls. All utilities separately metered. Lower levels have backyards approx 12'x30'. Upper units have balconies approx 7'x25'. Each unit has enclosed garage plus one assigned exterior parking space. Exterior painting scheduled. DO NOT DISTURB TENANTS. NO SIGN ON PROPERTY. MAKE OFFER SUBJECT TO INSPECTION.

Last Agent to Sell the Property

Margaret Vierra

EXIT Realty Consultants License #01183425 Listed on: 05/10/2016

EXIT Realty Consultants

Last Buyer's Agent

David Long

Christie's International Real Estate Sereno License #00956085

Christie's International Real Estate Sereno

Property Details

Home Type

  • Multi-Family

Year Built

  • 1998

Lot Details

  • 0.31

Parking

  • 4 Car Detached Garage
  • Assigned Parking

Home Design

  • Quadruplex
  • Slab Foundation
  • Wood Frame Construction
  • Composition Roof

Interior Spaces

  • 4,784 Sq Ft Home
  • 2-Story Property
  • Tile Flooring

Additional Features

  • 0.31 Acre Lot
  • Forced Air Heating and Cooling System

Listing and Financial Details

  • Total Actual Rent $80,400

Community Details

Overview

  • 4,784 Sq Ft Building

Building Details

  • 4 Leased Units
  • Gardener Expense $480
  • Insurance Expense $2,340
  • Other Expense $480
  • Utility Expense $420
  • Trash Expense $2,484
  • Operating Expense $17,533
  • Gross Income $78,660

Property Details

Home Type

Multi-Family

Year Built

1998

Lot Details

0

Parking

4

Listing Details

  • Zoning: R3
  • Subclass: Fourplex
  • Listing Class: Residential Income (2-4 Units)
  • Structure Sq Ft: 4784
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Year Built: 1998

Interior Features

  • Living Sq Ft: 4784
  • Stories: 2
  • Flooring: Tile

Exterior Features

  • Foundation: Concrete Slab
  • Roof: Composition
  • Construction Type: Wood Frame

Garage/Parking

  • Garage Spaces: 4
  • Parking Spaces: 4
  • Garage Parking Features: Assigned Spaces, Detached Garage

Utilities

  • Cooling System: Central Ac
  • Heating System: Central Forced Air - Gas
  • Sewer/Septic System: Sewer - Public

Lot Info

  • Lot Acres: 0.3100
  • Lot Size Area Minimum Units: Square Feet
  • Minimum Lot Size: 13503.60
  • Lot Size Area Maximum Units: Square Feet
  • Maximum Lot Size: 13503.60

Rental Info

  • Existing Lease Term(s): Month To Month
  • Gross Rent Multiplier: 14.49
  • Number Of Leased: 4

Multi Family

  • Utilities: Public Utilities
  • Expense Insurance: 2340
  • Expense Landscape: 480
  • Expenses Other: 480
  • Expenses Total: 17533
  • Expenses Utility: 420
  • Expense Trash: 2484
  • Income Annual Gross: 78660.00
  • Income Annual Rental: 80400
  • Income Gross Scheduled: 82800
  • Income Includes: Laundry
  • Income Other: 2400
  • Meters: Separate Common Area, Separate Electric, Separate Gas, Separate Water
  • Number Of Buildings: 2
  • Operating Expenses Include: Equipment/Fixture Rental, Fee - Property Tax, Insurance, Services - Trash Removal
  • Tenant Expenses: Utilities - Electric, Utilities - Gas, Utilities - Water
  • Vacancy Factor: 5

Range of Values:

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Value Increase
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Percent Increase
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Adjusted for Inflation
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
06/22/2016 06/22/16 Sold $1,125,000 -6.3% $235 / Sq Ft
05/20/2016 05/20/16 Pending -- -- --
05/10/2016 05/10/16 For Sale $1,200,000 -- $251 / Sq Ft
Source: MLSListings

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Map

Source: MLSListings

MLS Number: ML81584765

MLSListings

APN: 841-12-055