NOT LISTED FOR SALE
2 Beds
1 Bath
6,676 Sq Ft
0.65 Acre Lot

Sale Details

Date Sold: February 10, 2015

Last sale price $275,000 $41 Per Sq Ft

59 Days on Market

Highlights

  • Evaporated cooling system
  • Laundry Facilities
  • Wall Furnace

About This Home

As of February 2015

This is a nice bank repo that can be bought at an incredible $40,625 per unit. Due to the foreclosure, most tenants left during foreclosure and only two remain in unit's 2 & 6. The existing tenants are paying a market $600 per month. These units are large and functional, with each unit ranging in size from 816 SF to 890 SF. The vacant units need some work, but that mainly involves paint, carpet replacement, window dressing, cabinet touch up, and a few holes in the drywall. All units are ceiling swamp cooled and wall heated. Private carports for all units. Also, community laundry room at complex. Due to vacancy level, conventional financing isn't possible so only short term cash or hard money offers will be considered. Still, fully performing, this property performs at a rare 5.64 Gross Rent Multiplier. Fully performing operating expenses are unknown since subject was taken back with a 25% occupancy so an accurate cap rate could not be figured. Please see supplements for aerial, site plan, and rent roll. At this price, this fine complex can be converted to a keeper at great returns!

Last Agent to Sell the Property

Tony Burton

Burton Commercial, Inc. License #01014173 Listed on: 11/30/2014

Last Buyer's Agent

Tony Burton

Burton Commercial, Inc. License #01014173 Listed on: 11/30/2014

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Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1979

Lot Details

  • 28,500 Sq Ft Lot
  • Two or More Common Walls
  • Density is 11-15 Units/Acre

Parking

  • 11 Parking Spaces

Home Design

  • 6,676 Sq Ft Home
  • Property Attached

Bedrooms and Bathrooms

  • 2 Bedrooms
  • 1 Bathroom

Outdoor Features

  • Rain Gutters

Utilities

  • Evaporated cooling system
  • Wall Furnace
  • Sewer on Bond

Listing and Financial Details

  • Tax Lot 164
  • Tax Tract Number 2865
  • Assessor Parcel Number 0586342030000

Community Details

Overview

  • 3 Buildings
  • 8 Units

Amenities

  • Laundry Facilities

Building Details

  • 8 Separate Electric Meters
  • 8 Separate Gas Meters
  • 1 Separate Water Meter
  • Gross Income $4,800

Property Details

Home Type

Multi-Family

Year Built

Built in 1979

Lot Details

0.65 Acres

Listing Details

  • Property Attached: Yes
  • Property Type: Residential Income
  • Parcel Number: 0586342030000
  • Year Built: 1979
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: 2+ Common Walls
  • Levels: One
  • Price Per Square Foot: 41.19

Exterior Features

  • Pool Private: No

Garage/Parking

  • Total Parking Spaces: 11.00

Utilities

  • Heating: Yes
  • Laundry: Yes
  • Heating Type: Wall Furnace
  • Laundry Features: Community
  • Sewer: Sewer On Bond
  • Water Source: Public
  • Cooling: Evaporative Cooling
  • Cooling: Yes

Condo/Co-op/Association

  • Community Features: Curbs, Gutters

Lot Info

  • Lot Features: 11-15 Units/Acre
  • Lot Size Sq Ft: 28500.00
  • Lot Size Acres: 0.6540

Multi Family

  • Gross Income: 4800.00
  • Gross Multiplier: 5.64
  • Gross Scheduled Income: 57600.00
  • Lot Size Area: 28500.0000 Square Feet
  • Number Of Separate Electric Meters: 8
  • Number Of Separate Gas Meters: 8
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 8
  • Rent Control: No

Tax Info

  • Tax Lot: 164
  • Tax Tract Number: 2865
  • Tax Year: 2013

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

Closed on
May 26, 2022
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$262,500
Interest Rate
5.25%
Mortgage Type
New Conventional

Purchase Details

Listed on
Nov 30, 2014
Closed on
Feb 6, 2015
Sold by
Bought by
Seller's Agent
Tony Burton
Burton Commercial, Inc.
Buyer's Agent
Tony Burton
Burton Commercial, Inc.
List Price
$325,000
Sold Price
$275,000
Premium/Discount to List
-$50,000
-15.38%

Purchase Details

Closed on
Aug 4, 2014
Sold by
Bought by

Purchase Details

Closed on
Oct 29, 2004
Sold by
Bought by

Purchase Details

Closed on
Sep 24, 2004
Sold by
Bought by

Purchase Details

Closed on
Aug 18, 2003
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$296,250
Interest Rate
6.4%
Mortgage Type
Commercial

Purchase Details

Closed on
May 30, 2002
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$200,000
Interest Rate
6.7%
Mortgage Type
Commercial

Purchase Details

Closed on
Jan 8, 2001
Sold by
Bought by

Purchase Details

Closed on
Sep 14, 2000
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$144,750
Interest Rate
7.89%
Mortgage Type
Commercial

Purchase Details

Closed on
Apr 8, 1998
Sold by
Bought by

Purchase Details

Closed on
Apr 7, 1998
Sold by
Bought by

Purchase Details

Closed on
Mar 2, 1998
Sold by
Bought by
Source: Public Records

Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

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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
-- None Listed On Document
$275,000 Stewart Title Company
$201,744 Stewart Title Company
-- Fidelity National Title Co
-- --
-- Fidelity National Title
-- Fidelity National Title Ins
-- Fidelity National Title Ins
-- Fidelity National Title
-- Fidelity National Title Ins
$230,000 Fidelity National Title Ins
-- First American Title Ins Co
$130,000 First American Title Ins Co
-- --
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 $262,500
Previous Owner $262,500
Previous Owner $296,250
Previous Owner $56,050
Previous Owner $200,000
Previous Owner $144,750
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
02/10/2015 02/10/15 Sold $275,000 -15.4% $41 / Sq Ft
01/28/2015 01/28/15 Pending -- -- --
11/30/2014 11/30/14 For Sale $325,000 -- $49 / 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 $10,577 $337,119 $67,424 $269,695
2025 $10,577 $330,509 $66,102 $264,407
2024 $9,859 $324,029 $64,806 $259,223
2023 $8,925 $317,675 $63,535 $254,140
2022 $9,487 $311,446 $62,289 $249,157
2021 $9,542 $305,340 $61,068 $244,272
2020 $6,518 $302,209 $60,442 $241,767
2019 $6,657 $296,283 $59,257 $237,026
2018 $5,671 $290,473 $58,095 $232,378
2017 $3,578 $284,778 $56,956 $227,822
2016 $3,514 $279,194 $55,839 $223,355
2015 $3,436 $275,000 $55,000 $220,000
2014 $4,813 $384,800 $34,200 $350,600
Source: Public Records

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: SW15018209

California Regional Multiple Listing Service (CRMLS)
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