NOT LISTED FOR SALE

703 E Ruddock St Covina, CA 91723

Covina Area
12 Beds
7 Baths
6,556 Sq Ft
8,099 Sq Ft Lot

Sale Details

Date Sold: November 22, 2013

Last sale price $1,020,000 $156 Per Sq Ft

53 Days on Market

About This Home

As of November 2013

7 units apartment located in the center of Covina, fully occupied, it contains 5 two bedroom & 2 one bedroom. total living size is 6556, one bedroom is about 760sqft, two bedroom is about 950sqft, it makes all the units with very conformable size. decent inside & outside conditions. convenient location near metro line, down town of Covina and close to markets, restaurants, and bus stations. substantial upside rental income potential. offer subject to inspection, motivated seller.

Last Agent to Sell the Property

Rhea Bai

RE/MAX Premier Properties License #01360246 Listed on: 11/19/2013

RE/MAX Premier Properties

Last Buyer's Agent

Shawn Chang

RE/MAX Premier Properties License #01140175

RE/MAX Premier Properties
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Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $11,880

Year Built

  • Built in 1963

Lot Details

  • 8,099 Sq Ft Lot
  • No Common Walls
  • Private Yard

Parking

  • 7 Car Garage

Home Design

  • 6,556 Sq Ft Home

Bedrooms and Bathrooms

  • 12 Bedrooms
  • 7 Bathrooms

Laundry

  • Leased Washer and Dryer

Listing and Financial Details

  • Tax Lot 1
  • Tax Tract Number 24224
  • Assessor Parcel Number 8429012018

Community Details

Overview

  • 7 Units

Building Details

  • 7 Leased Units
  • 8 Separate Electric Meters
  • 7 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $774
  • Insurance Expense $1,489
  • Maintenance Expense $1,200
  • Professional Management Expense $4,055
  • Trash Expense $3,096
  • Water Sewer Expense $2,628
  • New Taxes Expense $11,308
  • Operating Expense $24,550
  • Gross Income $6,582
  • Net Operating Income $51,780

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$11,880

Year Built

Built in 1963

Lot Details

8,099 Sq Ft Lot

Parking

7

Listing Details

  • Assessments: Yes
  • Professional Management Expense: 4055.00
  • Property Attached: No
  • Water Sewer Expenses: 2628.00
  • Property Type: Residential Income
  • Parcel Number: 8429012018
  • Year Built: 1963
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: No Common Walls
  • Levels: Two
  • Price Per Square Foot: 155.58

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 7.00
  • Total Parking Spaces: 7.00

Utilities

  • Utilities: Sewer Connected
  • Trash Expense: 3096.00
  • Water Source: Public

Condo/Co-op/Association

  • Community Features: Curbs

Lot Info

  • Additional Parcels: No
  • Lot Features: Yard
  • Lot Size Sq Ft: 8099.00
  • Lot Size Acres: 0.1860

Multi Family

  • Average1 Bed Area: 760
  • Average2 Bed Area: 950
  • Electric Expense: 774.00
  • Gross Income: 6582.00
  • Gross Operating Income: 76630.00
  • Gross Scheduled Income: 79000.00
  • Insurance Expense: 1489.00
  • Laundry Equipment Own Lease: Lease
  • Laundry Income: 700.00
  • Lot Size Area: 8099.0000 Square Feet
  • Maintenance Expense: 1200.00
  • Net Operating Income: 51780.00
  • Number Of Separate Electric Meters: 8
  • Number Of Separate Gas Meters: 7
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 7
  • Number Of Units Total: 7
  • Operating Expense: 24550.00
  • Rent Control: No
  • Total Actual Rent: 6582.00
  • Total Expenses: 24550.00
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 11308.00
  • Tax Lot: 1
  • Tax Tract Number: 24224
  • Tax Annual Amount: 11880.00
  • Tax Year: 2012

Ownership History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Name Owned For Owner Type

Purchase Details

Listed on
Nov 19, 2013
Closed on
Oct 1, 2013
Sold by
Temsen Realty Group Llc
Bought by
Seller's Agent
Rhea Bai
RE/MAX Premier Properties
Buyer's Agent
Shawn Chang
RE/MAX Premier Properties
List Price
$1,028,000
Sold Price
$1,020,000
Premium/Discount to List
-$8,000
-0.78%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$600,000
Interest Rate
4.23%
Mortgage Type
Future Advance Clause Open End Mortgage

Purchase Details

Closed on
Dec 13, 2011
Sold by
Tam Yiu Kuen William
Bought by
Temsen Realty Group Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$500,000
Interest Rate
3.95%
Mortgage Type
Commercial

Purchase Details

Closed on
Oct 27, 2011
Sold by
Wil Reich Properties I Llc
Bought by
Tam Yiu Kuen William and Wong Chi Ping

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$500,000
Interest Rate
3.95%
Mortgage Type
Commercial

Purchase Details

Closed on
Oct 9, 2003
Sold by
Horn Buddie Lou
Bought by
Wil Reich Properties I Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$491,250
Interest Rate
6.4%
Mortgage Type
Commercial

Purchase Details

Closed on
Jul 2, 1999
Sold by
Washington Mutual Bank Fa
Bought by
Horn Buddie Lou

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$250,400
Interest Rate
7.63%
Mortgage Type
Seller Take Back

Purchase Details

Closed on
Feb 26, 1999
Sold by
Muanraksa Chart
Bought by
Washington Mutual Bank Fa and Home Svgs Of America Fsb
Source: Public Records

Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Agents Specializing in Covina, CA

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Purchase History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Buyer Sale Price Title Company
$1,020,000 Fidelity National Title Co
Temsen Realty Group Llc -- None Available
Tam Yiu Kuen William $835,000 Priority Title
Wil Reich Properties I Llc $655,000 First American Title Ins Co
Horn Buddie Lou $313,000 Investors Title Company
Washington Mutual Bank Fa $320,000 Fidelity National Title Ins
Source: Public Records

Mortgage History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Status Borrower Loan Amount
Previous Owner $600,000
Previous Owner Tam Yiu Kuen William $500,000
Previous Owner Wil Reich Properties I Llc $491,250
Previous Owner Horn Buddie Lou $250,400
Source: Public Records

Property History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Event Price List to Sale Price per Sq Ft
11/22/2013 11/22/13 Sold $1,020,000 -0.8% $156 / Sq Ft
10/07/2013 10/07/13 Pending -- -- --
08/15/2013 08/15/13 For Sale $1,028,000 -- $157 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

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
2026 $17,998 $1,275,376 $625,186 $650,190
2025 $17,998 $1,250,370 $612,928 $637,442
2024 $17,004 $1,225,854 $600,910 $624,944
2023 $16,776 $1,201,819 $589,128 $612,691
2022 $16,568 $1,178,255 $577,577 $600,678
2021 $16,318 $1,155,152 $566,252 $588,900
2019 $15,969 $1,120,891 $549,457 $571,434
2018 $15,359 $1,098,914 $538,684 $560,230
2016 $14,480 $1,056,244 $517,767 $538,477
2015 $14,080 $1,040,379 $509,990 $530,389
2014 -- $1,020,000 $500,000 $520,000
Source: Public Records

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: WS13164659

California Regional Multiple Listing Service (CRMLS)
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