NOT LISTED FOR SALE

7625 Sturgess Ave La Mesa, CA 91941

-- Bed
-- Bath
5,552 Sq Ft
9,409 Sq Ft Lot

Last Sold June 17, 2024

Last sale price $2,304,000 $415 Per Sq Ft

8 Days on Market

Highlights

  • No HOA
  • Laundry Room
  • No Heating

About This Home

As of June 2024

Seven two bedroom units and one, one bedroom unit. Property is well maintained with room for additional improvement and repositioning of vacancies. Sloped roof is a benefit. Owners have found uplegs for exchange. Prepayment penalty to Chase Bank is currently at 1% and may be waived with loan or assumption with Chase. Shown with accepted offer.

Last Agent to Sell the Property

Dan Brophy

Flying Dog Enterprises Inc Brokerage Email: dbrophy@flyingdogent.com License #00578892 Listed on: 02/13/2024

Last Buyer's Agent

Sohrab Sam Khadivi

Centennial Financial and Realty Inc License #01767624

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1959

Lot Details

  • 9,409 Sq Ft Lot
  • Lot Dimensions are 103x91
  • Two or More Common Walls

Home Design

  • Property Attached
  • Entry on the 1st floor

Interior Spaces

  • 5,552 Sq Ft Home
  • 2-Story Property
  • Laundry Room

Parking

  • 8 Open Parking Spaces
  • 8 Parking Spaces

Utilities

  • No Heating

Listing and Financial Details

  • Legal Lot and Block -02-00 / 412
  • Tax Tract Number 470
  • Assessor Parcel Number 4704120200

Community Details

Overview

  • No Home Owners Association
  • 2 Buildings
  • 8 Units

Amenities

  • Laundry Facilities

Building Details

  • 8 Leased Units
  • Rent Control
  • 8 Separate Electric Meters
  • 8 Separate Gas Meters
  • Insurance Expense $3,500
  • Professional Management Expense $8,938
  • Trash Expense $4,305
  • Water Sewer Expense $2,521
  • New Taxes Expense $23,999
  • Operating Expense $57,750
  • Gross Income $187,560
  • Net Operating Income $121,911

Property Details

Home Type

Multi-Family

Year Built

Built in 1959

Lot Details

0

Listing Details

  • Assessments: No
  • CapRate: 5.00
  • Professional Management Expense: 8938.00
  • Property Attached: Yes
  • View: No
  • Water Sewer Expenses: 2521.00
  • Zoning: Apartments
  • Property Type: Residential Income
  • Parcel Number: 4704120200
  • Year Built: 1959
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: No
  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Appliances: No
  • Entry Level: 1
  • Price Per Square Foot: 414.99

Exterior Features

  • Fence: No
  • Pool Private: No
  • Spa: No

Garage/Parking

  • Parking: No
  • Total Parking Spaces: 8.00
  • Uncovered Spaces: 8.00

Utilities

  • Heating: No
  • Laundry: Yes
  • Laundry Features: Common Area
  • Trash Expense: 4305.00

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Curbs

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Lot 6500-9999
  • Lot Size: 103x91
  • Lot Size Sq Ft: 9409.00
  • Lot Size Acres: 0.2160

Multi Family

  • Average1 Bed Area: 570 Square Feet
  • Average2 Bed Area: 695 Square Feet
  • Gross Income: 187560.00
  • Gross Multiplier: 12.79
  • Gross Scheduled Income: 187560.00
  • Insurance Expense: 3500.00
  • Lot Size Area: 9409.0000 Square Feet
  • Net Operating Income: 121911.00
  • Number Of Separate Electric Meters: 8
  • Number Of Separate Gas Meters: 8
  • Number Of Units Leased: 8
  • Number Of Units Total: 8
  • Number With Disposal: 4
  • Number With Drapes: 8
  • Number With Patio: 2
  • Number With Range: 8
  • Number With Refrigerator: 8
  • Operating Expense: 65649.00
  • Operating Expense Percent: 35.00
  • Rent Control: Yes
  • Total Actual Rent: 15630.00
  • Total Expenses: 57750.00

Tax Info

  • New Taxes Expense: 23999.00
  • Tax Block: 412
  • Tax Lot: -02-00
  • Tax Tract Number: 470-
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Property History

Date Event Price List to Sale Price per Sq Ft
06/17/2024 06/17/24 Sold $2,304,000 -4.0% $415 / Sq Ft
02/21/2024 02/21/24 Pending -- -- --
02/13/2024 02/13/24 For Sale $2,399,998 -- $432 / 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 $14,047 $2,351,097 $1,178,097 $1,173,000
2024 $14,047 $1,008,072 $169,014 $839,058
2023 $13,650 $988,306 $165,700 $822,606
2022 $13,325 $968,928 $162,451 $806,477
2021 $13,001 $949,930 $159,266 $790,664
2020 $12,621 $940,190 $157,633 $782,557
2019 $12,461 $921,756 $154,543 $767,213
2018 $12,213 $903,683 $151,513 $752,170
2017 $12,135 $885,965 $148,543 $737,422
2016 $11,935 $868,594 $145,631 $722,963
2015 $11,933 $855,548 $143,444 $712,104
2014 $11,759 $838,790 $140,635 $698,155
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PTP2400827

California Regional Multiple Listing Service (CRMLS)