NOT LISTED FOR SALE

641 Shasta Ave Morro Bay, CA 93442

Estimated Value: $1,302,611 - $1,962,000

2 Beds
2 Baths
4,090 Sq Ft
$392/Sq Ft Est. Value

Last Sold May 17, 2017

Last sale price $915,000 $224 Per Sq Ft

Est. 75% increase in value since last sale

Current estimated payment $9,343/month

3 Days on Market

Highlights

  • Back Bay Views
  • Property is near public transit
  • Landscaped
  • Del Mar Elementary School Rated A-
  • Cooling Available
  • Carpet

About This Home

As of May 2017

What an incredible opportunity to own 4 units in central Morro Bay. This wonderful income property features each unit with 2 bedrooms and 1.5 baths. There are exterior decks facing the ocean with two having bay views. Parking is incredible, 4 enclosed garages, 2 carports, 2 open spaces. Each unit has had long term tenants, therefore, rents are extremely low and they would all love to stay. Owner has always taken good care of this property and just this past month New Roof and 8 skylights (by Quaglino Roofing). No Better investment opportunity when you consider this dynamic location.

Last Agent to Sell the Property

Steve Murphy

Century 21 Masters License #01151514 Listed on: 04/12/2017

Last Buyer's Agent

Lorraine Sterkel

Horizon Realty & Property Mgt License #00648760

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $11,506

Year Built

  • Built in 1978

Lot Details

  • 8,712 Sq Ft Lot
  • Two or More Common Walls
  • Landscaped
  • Front Yard

Parking

  • 4 Open Parking Spaces
  • 4 Car Garage
  • 2 Carport Spaces
  • Parking Available
  • Assigned Parking

Home Design

  • Property Attached

Interior Spaces

  • 4,090 Sq Ft Home
  • Back Bay Views
  • Electric Oven

Flooring

  • Carpet
  • Vinyl

Bedrooms and Bathrooms

  • 2 Bedrooms
  • 2 Bathrooms

Utilities

  • Cooling Available
  • Wall Furnace
  • Cable TV Available

Additional Features

  • Exterior Lighting
  • Property is near public transit

Listing and Financial Details

  • Assessor Parcel Number 066124020

Community Details

Overview

  • 4 Units

Building Details

  • 4 Separate Electric Meters
  • 4 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $1,200
  • Insurance Expense $1,000
  • New Taxes Expense $8,000
  • Operating Expense $10,500
  • Net Operating Income $42,000

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$11,506

Year Built

Built in 1978

Lot Details

0

Parking

4

Listing Details

  • Property Attached: Yes
  • Subdivision Name Other: Morro Heights (810)
  • View: Yes
  • Zoning: R2
  • Property Type: Residential Income
  • Parcel Number: 066124020
  • Year Built: 1978
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: 2+ Common Walls
  • Flooring: Carpet, Vinyl
  • Appliances: Yes
  • Levels: Two
  • Price Per Square Foot: 223.72

Exterior Features

  • View: Back Bay
  • Pool Private: No
  • Roof: Other

Garage/Parking

  • Carport Spaces: 2.00
  • Garage Spaces: 4.00
  • Parking: Yes
  • Parking Features: Assigned
  • Total Parking Spaces: 10.00
  • Uncovered Spaces: 4.00

Utilities

  • Utilities: Cable Available
  • Heating: Yes
  • Laundry: No
  • Appliances: Electric Oven
  • Heating Type: Wall Furnace, Electric
  • Sewer: Public Sewer
  • Water Source: Public
  • Cooling: Electric
  • Cooling: Yes

Condo/Co-op/Association

  • Community Features: Street Lights

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Front Yard, Landscaped, Near Public Transit
  • Lot Size Sq Ft: 8712.00

Multi Family

  • Average2 Bed Area: 1020 Square Feet
  • Electric Expense: 1200.00
  • Gross Scheduled Income: 45600.00
  • Insurance Expense: 1000.00
  • Net Operating Income: 42000.00
  • Number Of Separate Electric Meters: 4
  • Number Of Separate Gas Meters: 4
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 4
  • Operating Expense: 3600.00
  • Rent Control: No
  • Total Expenses: 10500.00

Tax Info

  • New Taxes Expense: 8000.00
  • Tax Census Tract: 106.02

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Apr 5, 2024
Sold by
Viola Ronald
Bought by
2008 Viola Family Trust and Viola
Current Estimated Value
$1,601,653

Purchase Details

Listed on
Apr 12, 2017
Closed on
Apr 27, 2017
Sold by
Ortali Tunny and Ortali Linda M
Bought by
Viola Ronald
Seller's Agent
Steve Murphy
Century 21 Masters
Buyer's Agent
Lorraine Sterkel
Horizon Realty & Property Mgt
List Price
$935,000
Sold Price
$915,000
Premium/Discount to List
-$20,000
-2.14%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
6.85%

Purchase Details

Closed on
Apr 6, 2005
Sold by
Croyle Robert W and Croyle Jerrilyn Ann
Bought by
Ortali Tunny and Ortali Linda M

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$450,000
Interest Rate
5.87%
Mortgage Type
Fannie Mae Freddie Mac

Purchase Details

Closed on
Apr 5, 2005
Sold by
Ortali Tunny and Ortali Linda M
Bought by
Ortali Tunny and Ortali Linda M

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$450,000
Interest Rate
5.87%
Mortgage Type
Fannie Mae Freddie Mac

Purchase Details

Closed on
Jul 11, 2002
Sold by
Croyle Robert W and Croyle Jerrilyn A
Bought by
Croyle Robert W and Croyle Jerrilyn Ann

Purchase Details

Closed on
Jun 14, 2001
Sold by
Dabritz David F and Dabritz Evelyn M
Bought by
Croyle Robert W and Croyle Jerrilyn A

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$220,000
Interest Rate
7.21%
Source: Public Records

Range of Values:

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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
2008 Viola Family Trust -- None Listed On Document
Viola Ronald $915,000 Placer Title Company
Ortali Tunny $895,500 Chicago Title Company
Ortali Tunny -- Chicago Title Company
Croyle Robert W -- --
Croyle Robert W $480,000 First American Title Co
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Ortali Tunny $450,000
Previous Owner Croyle Robert W $220,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
05/17/2017 05/17/17 Sold $915,000 -2.1% $224 / Sq Ft
04/15/2017 04/15/17 Pending -- -- --
04/12/2017 04/12/17 For Sale $935,000 -- $229 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

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 $11,506 $1,061,929 $406,201 $655,728
2024 $11,298 $1,041,108 $398,237 $642,871
2023 $11,298 $1,020,695 $390,429 $630,266
2022 $10,590 $1,000,682 $382,774 $617,908
2021 $10,421 $981,062 $375,269 $605,793
2020 $10,314 $971,004 $371,422 $599,582
2019 $10,207 $951,966 $364,140 $587,826
2018 $10,007 $933,300 $357,000 $576,300
2017 $11,526 $1,074,927 $480,413 $594,514
2016 $11,300 $1,053,851 $470,994 $582,857
2015 $11,127 $1,038,022 $463,920 $574,102
2014 $10,218 $1,017,690 $454,833 $562,857
Source: Public Records

Agents Affiliated with this Home

  • Steve Murphy

    Seller's Agent in 2017

    Steve Murphy

    Century 21 Masters

    (805) 550-1234

    6 in this area

    78 Total Sales

    Steve Murphy
    Section Image
  • Lorraine Sterkel

    Buyer's Agent in 2017

    Lorraine Sterkel

    Horizon Realty & Property Mgt

    (805) 440-6853

    12 in this area

    25 Total Sales

    Lorraine Sterkel
    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: SP17078551

California Regional Multiple Listing Service (CRMLS)

APN: 066-124-020

California San Luis Obispo County Morro Bay 93442

641 Shasta Ave, Morro Bay, CA

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