NOT LISTED FOR SALE

6715 Otis Ave Bell, CA 90201

Estimated Value: $1,134,000 - $1,357,139

3 Beds
5 Baths
2,085 Sq Ft
$597/Sq Ft Est. Value

Last Sold June 14, 2018

Last sale price $838,000 $402 Per Sq Ft

Est. 49% increase in value since last sale

Current estimated payment $7,794/month

24 Days on Market

About This Home

As of June 2018

We are pleased to offer for sale this 5 Unit multi-family investment located in the city of Bell. The subject property is comprised of all single story residential units spread amongst 3 separate buildings. The front structure is a duplex style building with 2(1Bed/1Bath) units. The second building is a stand alone cottage style unit which is a 1Bed/1Bath unit. The last structure to the rear consists of 2 studio units of which were recently renovated with new cabinetry, flooring and fixtures. Tenants enjoy garage parking (5 garages) as well as gated private entry. All units are separately metered for electricity and gas, with the exception of the last 2 units which are mastered metered. Some units have interior washer/dryer hookups. Additionally, the plumbing has been partially upgraded to copper, and a portion of the windows have been upgraded to vinyl. With the current rental rates in place the subject property offers a 5.75% CAP RATE and a significant cash-on-cash return for the next investor.

Last Agent to Sell the Property

Kristopher German

RE/MAX 2000 REALTY License #01800021 Listed on: 05/08/2018

RE/MAX 2000 REALTY

Last Buyer's Agent

Kristopher German

RE/MAX 2000 REALTY License #01800021 Listed on: 05/08/2018

RE/MAX 2000 REALTY

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1939

Lot Details

  • 8,070 Sq Ft Lot
  • 1 Common Wall
  • Density is 2-5 Units/Acre

Parking

  • 5 Car Garage

Home Design

  • Property Attached

Interior Spaces

  • 2,085 Sq Ft Home
  • 1-Story Property

Bedrooms and Bathrooms

  • 3 Bedrooms
  • 5 Bathrooms

Outdoor Features

  • Rain Gutters

Listing and Financial Details

  • Tax Lot 008
  • Tax Tract Number 8
  • Assessor Parcel Number 6325008008

Community Details

Overview

  • 3 Buildings
  • 5 Units

Building Details

  • 4 Separate Electric Meters
  • 4 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $540
  • Fuel Expense $300
  • Insurance Expense $835
  • Maintenance Expense $2,500
  • Other Expense $500
  • Trash Expense $1,200
  • Water Sewer Expense $2,400
  • New Taxes Expense $12,374
  • Operating Expense $20,649
  • Gross Income $70,800
  • Net Operating Income $48,027

Property Details

Home Type

Multi-Family

Year Built

Built in 1939

Lot Details

0

Parking

5

Listing Details

  • CapRate: 5.75
  • Property Attached: Yes
  • Water Sewer Expenses: 2400.00
  • Zoning: BLR3YY
  • Property Type: Residential Income
  • Parcel Number: 6325008008
  • Year Built: 1939
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Stories: 1
  • Common Walls: 1 Common Wall
  • Levels: One
  • Price Per Square Foot: 401.92

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 5.00
  • Total Parking Spaces: 5.00

Utilities

  • Laundry: No
  • Sewer: Public Sewer
  • Trash Expense: 1200.00
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Curbs, Gutters, Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 2-5 Units/Acre
  • Lot Size Sq Ft: 8070.00

Multi Family

  • Electric Expense: 540.00
  • Fuel Expense: 300.00
  • Gross Income: 70800.00
  • Gross Multiplier: 11.79
  • Gross Scheduled Income: 70800.00
  • Insurance Expense: 835.00
  • Maintenance Expense: 2500.00
  • Net Operating Income: 48027.00
  • Number Of Separate Electric Meters: 4
  • Number Of Separate Gas Meters: 4
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 5
  • Operating Expense: 20649.00
  • Other Expense: 500.00
  • Other Expense Description: Reserves
  • Rent Control: No
  • Total Expenses: 20649.00

Tax Info

  • New Taxes Expense: 12374.00
  • Tax Census Tract: 5336.02
  • Tax Lot: 008
  • Tax Tract Number: 008

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
May 8, 2018
Closed on
Jun 13, 2018
Sold by
Lo Albert
Bought by
Wei Amy
Seller's Agent
Kristopher German
RE/MAX 2000 REALTY
Buyer's Agent
Kristopher German
RE/MAX 2000 REALTY
List Price
$835,000
Sold Price
$838,000
Premium/Discount to List
$3,000
0.36%
Current Estimated Value
$1,247,169

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$409,169
Avg. Annual Appreciation
5.38%

Purchase Details

Listed on
May 8, 2018
Closed on
Jun 4, 2018
Sold by
Kazaryan Stepan and Kazaryan Yevgenya Jenny
Bought by
Wei Fu and Wei Ah Huynh
Seller's Agent
Kristopher German
RE/MAX 2000 REALTY
Buyer's Agent
Kristopher German
RE/MAX 2000 REALTY
List Price
$835,000
Sold Price
$838,000
Premium/Discount to List
$3,000
0.36%

Purchase Details

Listed on
Nov 1, 2017
Closed on
Nov 7, 2017
Sold by
Arias Jose R and Arias Ivia
Bought by
Kazaryan Stepan and Kazaryan Yevgenya Jenny
Seller's Agent
Kristopher German
RE/MAX 2000 REALTY
Buyer's Agent
Kristopher German
RE/MAX 2000 REALTY
List Price
$698,500
Sold Price
$698,500

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
40.10%

Purchase Details

Closed on
Jan 21, 2004
Sold by
Green Street Properties Llc
Bought by
Arias Jose R and Arias Ivia

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$304,000
Interest Rate
5.8%
Mortgage Type
Commercial

Purchase Details

Closed on
Dec 9, 2002
Sold by
Espindola Catalina
Bought by
Weise Marcel and Cal Trust Investments

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$150,000
Interest Rate
6.06%
Mortgage Type
Commercial

Purchase Details

Closed on
Dec 3, 2002
Sold by
Cal Trust Investments
Bought by
Green Street Properties

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$150,000
Interest Rate
6.06%
Mortgage Type
Commercial

Purchase Details

Closed on
Dec 30, 1998
Sold by
Espindola Catalina
Bought by
Cal Trust Investments
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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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
Wei Amy -- Fidelity Title Company
Wei Fu $838,000 Fidelity National Title Comp
Kazaryan Stepan $698,500 Fidelity Title Company
Arias Jose R $385,000 Fidelity Long Beach
Weise Marcel -- Fidelity
Green Street Properties $240,000 Fidelity
Cal Trust Investments -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Arias Jose R $304,000
Previous Owner Green Street Properties $150,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
06/14/2018 06/14/18 Sold $838,000 +0.4% $402 / Sq Ft
06/01/2018 06/01/18 Pending -- -- --
05/08/2018 05/08/18 For Sale $835,000 +19.5% $400 / Sq Ft
11/30/2017 11/30/17 Sold $698,500 0.0% $335 / Sq Ft View Prior Sale
11/03/2017 11/03/17 Pending -- -- --
11/01/2017 11/01/17 For Sale $698,500 -- $335 / 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 $15,342 $953,497 $466,508 $486,989
2024 $15,342 $934,802 $457,361 $477,441
2023 $15,072 $916,474 $448,394 $468,080
2022 $14,495 $898,504 $439,602 $458,902
2021 $14,357 $880,887 $430,983 $449,904
2020 $14,434 $871,855 $426,564 $445,291
2019 $13,952 $854,960 $418,200 $436,760
2018 $11,711 $698,700 $400,000 $298,700
2017 $8,389 $471,638 $240,108 $231,530
2016 $8,336 $462,391 $235,400 $226,991
2015 $8,209 $455,447 $231,865 $223,582
2014 $6,073 $308,000 $190,000 $118,000
Source: Public Records

Agents Affiliated with this Home

  • Kristopher German

    Seller's Agent in 2018

    Kristopher German

    RE/MAX

    (909) 645-0443

    1 in this area

    124 Total Sales

    Kristopher German
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: CV18107597

California Regional Multiple Listing Service (CRMLS)

APN: 6325-008-008

California Los Angeles County Bell 90201

6715 Otis Ave, Bell, CA

Not Listed for Sale

MultiFamily

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