NOT LISTED FOR SALE

65 Wright Ave Morgan Hill, CA 95037

Estimated Value: $943,552 - $1,068,000

5 Beds
2 Baths
1,034 Sq Ft
$959/Sq Ft Est. Value

Last Sold January 12, 2024

Last sale price $950,000 $919 Per Sq Ft

Est. 4% increase in value since last sale

Current estimated payment $5,310/month

38 Days on Market

Highlights

  • Tile Flooring
  • Level Lot
  • 5-minute walk to Morgan Hill Historical Society
  • Ann Sobrato High School Rated A
  • 1-Story Property

About This Home

As of January 2024

Two units on a 12,632 sq. ft lot which is zoned Residential Attached Medium, which allows for 16-24 units per acre. This opportunity offers an investor income while preparing to develop the site into apartments or for sale housing. 55 Wright Avenue is also offered for $1,050,000.

Last Agent to Sell the Property

Hap Albers

Albers Real Estate Investment Company License #01006595 Listed on: 10/30/2023

Last Buyer's Agent

Samuel Contreras

Calvary Dinh, Broker License #02193965

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $1,303

Year Built

  • 1937

Lot Details

  • 0.29 Acre Lot
  • Level Lot

Home Design

  • Duplex
  • Slab Foundation
  • Composition Roof
  • Concrete Perimeter Foundation

Interior Spaces

  • 1,034 Sq Ft Home
  • 1-Story Property
  • Washer and Dryer Hookup

Kitchen

  • Electric Oven
  • Formica Countertops

Flooring

  • Carpet
  • Tile
  • Vinyl

Parking

  • 4 Parking Spaces
  • On-Street Parking
  • Off-Street Parking

Utilities

  • Cooling System Mounted To A Wall/Window
  • Wall Furnace
  • Heating System Uses Gas
  • Separate Meters
  • Individual Gas Meter

Listing and Financial Details

  • Total Actual Rent $50,400

Community Details

Overview

  • 1,034 Sq Ft Building

Building Details

  • 2 Leased Units
  • Gardener Expense $500
  • Insurance Expense $1,357
  • Maintenance Expense $2,000
  • Manager Expense $3,000
  • Other Expense $100
  • Utility Expense $3,144
  • Trash Expense $1,008
  • Operating Expense $22,076
  • Gross Income $48,888

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$1,303

Year Built

1937

Lot Details

0

Listing Details

  • Zoning: RAM
  • Subclass: Duplex
  • Listing Class: Residential Income (2-4 Units)
  • Structure Sq Ft: 1034
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Year Built: 1937

Interior Features

  • Kitchen: Countertop - Formica, Oven Range - Electric, Refrigerator
  • Living Sq Ft: 1034
  • Stories: 1
  • Laundry: Hookups Only
  • Flooring: Carpet, Tile, Vinyl / Linoleum

Exterior Features

  • Foundation: Concrete Perimeter, Concrete Perimeter And Slab, Concrete Slab
  • Roof: Composition

Garage/Parking

  • Parking Spaces: 4
  • Garage Parking Features: Off-Street Parking, On Street

Utilities

  • Cooling System: Window / Wall Unit
  • Heating System: Gas, Wall Furnace
  • Sewer/Septic System: Sewer Connected

Schools

  • High School: 1080

Lot Info

  • Lot Description: Grade - Level
  • Lot Acres: 0.2900
  • Lot Size Area Minimum Units: Square Feet
  • Minimum Lot Size: 12632.00
  • Lot Size Area Maximum Units: Square Feet
  • Maximum Lot Size: 12632.00

Rental Info

  • Existing Lease Term(s): Month To Month
  • Gross Rent Multiplier: 18.85
  • Number Of Leased: 2

Multi Family

  • Utilities: Individual Electric Meters, Individual Gas Meters
  • Expense Insurance: 1357
  • Expense Landscape: 500
  • Expense Maintenance: 2000
  • Expense Management: 3000
  • Expenses Other: 100
  • Expenses Total: 22076
  • Expenses Utility: 3144
  • Expense Trash: 1008
  • Income Annual Gross: 48888.00
  • Income Annual Rental: 50400
  • Income Gross Scheduled: 50400
  • Income Includes: Rents
  • Meters: Master Water, Separate Electric, Separate Gas
  • Number Of Buildings: 2
  • Operating Expenses Include: Fee - Property Management, Fee - Property Tax, Insurance, Maintenance - Repair, Services - Sewer, Services - Trash Removal, Utilities - Water, Vacancy Factor
  • Tenant Expenses: Utilities - Electric, Utilities - Gas, Utilities - Hot Water
  • Vacancy Factor: 3

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Oct 30, 2023
Closed on
Jan 10, 2024
Sold by
Gongs Investment Group Llc
Bought by
Campuzano Yesenia Fernandez and Campuzano Gabriel
Seller's Agent
Hap Albers
Albers Real Estate Investment Company
Buyer's Agent
Samuel Contreras
Calvary Dinh, Broker
List Price
$950,000
Sold Price
$950,000
Views
83
Current Estimated Value
$991,638

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$41,638
Avg. Annual Appreciation
2.43%
Original Mortgage
$855,000
Outstanding Balance
$840,785
Interest Rate
7.22%
Mortgage Type
New Conventional
Estimated Equity
$150,853

Purchase Details

Closed on
May 22, 2001
Sold by
Cristobol Patricia Gong and Gong Gerald
Bought by
Gongs Investment Group Llc

Purchase Details

Closed on
May 1, 2001
Sold by
Gong Kenneth and Hernandez Colleen Gong
Bought by
Cristobal Patricia Gong and Gong Gerald
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
Campuzano Yesenia Fernandez $950,000 Chicago Title
Gongs Investment Group Llc -- --
Cristobal Patricia Gong -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Campuzano Yesenia Fernandez $855,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
01/12/2024 01/12/24 Sold $950,000 0.0% $919 / Sq Ft
12/08/2023 12/08/23 Pending -- -- --
10/30/2023 10/30/23 For Sale $950,000 -- $919 / 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 $1,303 $969,000 $726,750 $242,250
2024 $1,303 $99,748 $65,915 $33,833
2023 $1,286 $97,793 $64,623 $33,170
2022 $1,263 $95,876 $63,356 $32,520
2021 $1,232 $93,997 $62,114 $31,883
2020 $1,205 $93,035 $61,478 $31,557
2019 $1,235 $91,212 $60,273 $30,939
2018 $1,236 $89,425 $59,092 $30,333
2017 $1,224 $87,673 $57,934 $29,739
2016 $1,143 $85,955 $56,799 $29,156
2015 $1,130 $84,665 $55,946 $28,719
2014 $1,122 $83,008 $54,851 $28,157
Source: Public Records

Agents Affiliated with this Home

  • Hap Albers

    Seller's Agent in 2024

    Hap Albers

    Albers Real Estate Investment Company

    (408) 893-6002

    3 in this area

    62 Total Sales

    Hap Albers
    Section Image

  • S

    Buyer's Agent in 2024

    Samuel Contreras

    Calvary Dinh, Broker

    (831) 801-0248

    1 in this area

    10 Total Sales

    Samuel Contreras
    Section Image
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Map

Source: MLSListings

MLS Number: ML81946540

MLSListings

APN: 764-12-015

California Santa Clara County Morgan Hill 95037

65 Wright Ave, Morgan Hill, CA

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