NOT LISTED FOR SALE

7365 Central Ave Lemon Grove, CA 91945

Estimated Value: $802,000 - $977,000

4 Beds
2 Baths
2,232 Sq Ft
$390/Sq Ft Est. Value

Sale Details

Date Sold: September 29, 2017

Last sale price $470,000 $211 Per Sq Ft

Est. 85% increase in value since last sale

Current estimated payment $5,224 / mo

42 Days on Market

Highlights

  • Cooling System Mounted To A Wall/Window
  • Heating System Uses Natural Gas
  • 1-Story Property
  • Partially Fenced Property

About This Home

As of September 2017

Multi Family Duplex. Units are mirror images of each other. Walking distance to schools and shopping. Units are separated by their individual one car garage providing extra privacy for tenants. Owner is using unit 2's garage for storage, hence the reduced rent on unit 2. Close to freeway. Living Room/Dining Area 12x11, Bedroom 13x13 & 12x11, Kitchen 12x11. Laundry in garage accessed through kitchen. Neighborhoods: Broadway Heights Other Fees: 0 Sewer: Sewer Connected Unit # for Unit 1: 7365 Unit # for Unit 2: 7367 Number of Furnished Units: 0 Topography: LL

Last Agent to Sell the Property

Art Armagost

Covest Properties Inc License #01473344 Listed on: 06/22/2017

Co-Listed By

Lori Harding

Covest Properties Inc License #01795537

Last Buyer's Agent

Sarah Messali

Real Broker License #01863820

Real Broker

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1979

Lot Details

  • 7,132 Sq Ft Lot
  • Partially Fenced Property

Home Design

  • Composition Roof

Interior Spaces

  • 1-Story Property

Bedrooms and Bathrooms

  • 4 Bedrooms
  • 2 Bathrooms

Utilities

  • Cooling System Mounted To A Wall/Window
  • Heating System Uses Natural Gas
  • Gas Water Heater

Community Details

  • 2 Units
  • Net Operating Income $21,190

Listing and Financial Details

  • Tenant pays for trash collection, cable TV, electricity, gas
  • Assessor Parcel Number 4792302800

Property Details

Home Type

Multi-Family

Year Built

Built in 1979

Lot Details

7,132 Sq Ft Lot

Listing Details

  • CapRate: 4.50
  • Subdivision Name Other: Lemon Grove
  • View: No
  • Zoning: R-2:MINOR
  • Property Type: Residential Income
  • Parcel Number: 4792302800
  • Year Built: 1979
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Stories: 1
  • Appliances: Yes
  • Levels: One

Exterior Features

  • Fence: Yes
  • Fencing: Partial
  • Pool Private: No
  • Roof: Composition
  • Spa: No

Utilities

  • Heating: Yes
  • Appliances: Gas Water Heater
  • Heating Type: Natural Gas
  • Cooling: Wall/Window Unit(s)
  • Cooling: Yes

Lot Info

  • Lot Size: 0.16
  • Lot Size Sq Ft: 7132.00
  • Lot Size Acres: 0.1600

Rental Info

  • Tenant Pays: Trash Collection, Cable TV, Electricity, Gas

Multi Family

  • Gross Scheduled Income: 2445.00
  • Lot Size Area: 7132.0000 Square Feet
  • Net Operating Income: 21190.00
  • Number Of Units Total: 2
  • Number With Range: 2
  • Number With Refrigerator: 2

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jun 22, 2017
Closed on
Sep 15, 2017
Sold by
Kelly Michael W and Kelly Gwen K
Bought by
Chao Yu C and Chao Milvi S
Seller's Agent
Art Armagost
Covest Properties Inc
Buyer's Agent
Sarah Messali
Real Broker
List Price
$470,000
Sold Price
$470,000
Current Estimated Value
$870,875

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$400,875
Avg. Annual Appreciation
7.44%
Original Mortgage
$270,000
Outstanding Balance
$145,563
Interest Rate
3.89%
Mortgage Type
VA
Estimated Equity
$725,312

Purchase Details

Closed on
May 12, 2003
Sold by
Mitchell Robert Gene and Mitchell Marjorie L
Bought by
Shakir Gwen

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$272,020
Interest Rate
5.75%
Mortgage Type
FHA
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
Not Available
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
Chao Yu C $470,000 Ticor Title
Kelly Michael W -- Ticor Title San Diego
Shakir Gwen $335,000 Commonwealth Land Title Co
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Chao Yu C $270,000
Previous Owner Shakir Gwen $272,020
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
09/29/2017 09/29/17 Sold $470,000 0.0% $211 / Sq Ft
08/03/2017 08/03/17 Pending -- -- --
06/22/2017 06/22/17 For Sale $470,000 -- $211 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

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 $7,652 $534,772 $255,413 $279,359
2024 $7,652 $524,287 $250,405 $273,882
2023 $7,472 $514,008 $245,496 $268,512
2022 $7,437 $503,931 $240,683 $263,248
2021 $7,260 $494,051 $235,964 $258,087
2020 $7,169 $488,986 $233,545 $255,441
2019 $7,026 $479,399 $228,966 $250,433
2018 $6,865 $470,000 $224,477 $245,523
2017 $150 $418,044 $199,662 $218,382
2016 $6,090 $409,848 $195,748 $214,100
2015 $6,057 $403,693 $192,808 $210,885
2014 $5,831 $395,787 $189,032 $206,755
Source: Public Records

Agents Affiliated with this Home

  • A

    Seller's Agent in 2017

    Art Armagost

    Covest Properties Inc

    Section Image

  • L

    Seller Co-Listing Agent in 2017

    Lori Harding

    Covest Properties Inc

  • Sarah Messali

    Buyer's Agent in 2017

    Sarah Messali

    Real Broker

    (858) 668-9024

    1 in this area

    69 Total Sales

    Sarah Messali
    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: 170032481

California Regional Multiple Listing Service (CRMLS)

APN: 479-230-28

California San Diego County Lemon Grove 91945

7365 Central Ave, Lemon Grove, CA

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California Regional Multiple Listing Service (CRMLS) The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.

Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information

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