NOT LISTED FOR SALE

Estimated Value: $1,422,000 - $1,891,000

4 Beds
2 Baths
1,940 Sq Ft
$823/Sq Ft Est. Value

Last Sold March 31, 2017

Last sale price $887,000 $457 Per Sq Ft

Est. 80% increase in value since last sale

Current estimated payment $9,699/month

4 Days on Market

Highlights

  • Contemporary Architecture
  • Wood Flooring
  • Laundry Room
  • Horace Ensign Intermediate School Rated A
  • No HOA
  • Turnkey

About This Home

As of March 2017

Stunning Duplex that has been tastefully remodeled and modernized. Rent both units or live in one and enjoy the income from the other.
This exceptional property features new kitchens with white shaker style cabinets, dark quartz countertops, stainless steel appliances and plank flooring throughout. Each bathroom includes a new tub/shower combination with white subway tiles, modern plumbing fixtures, new vanities and slate grey tile flooring. Both units have interior hookups for a washer and dryer. Other upgrades include new roofing, interior and exterior paint, new doors, and vinyl Milgard energy efficient windows throughout. Each unit lives like a single family home with the only common wall at the garage. Both units have a large private low maintenance landscaped yard. Off-street parking and storage is provided for in two oversized attached garages and the driveway.
Bike to the nearby beaches and enjoy the surrounding shopping, restaurants and entertainment in the area. Don't miss this one! It's a rare opportunity to own a turnkey income property in a super location that is benefiting from significant new development and rapidly rising property values.

Last Agent to Sell the Property

David Weinstein

Charter Land Company License #01105394 Listed on: 03/04/2017

Last Buyer's Agent

Dakoda Muta

Realty One Group West License #01972115

Realty One Group West

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $7,471

Year Built

  • Built in 1960

Lot Details

  • 5,776 Sq Ft Lot
  • 1 Common Wall
  • Wood Fence
  • Sprinkler System
  • Back and Front Yard
  • Density is 2-5 Units/Acre
  • Land Lease expires 7/31/17

Parking

  • 2 Open Parking Spaces
  • 2 Car Garage

Home Design

  • Duplex
  • Contemporary Architecture
  • Turnkey
  • Asbestos Shingle Roof
  • Composition Roof
  • Lap Siding
  • Stucco

Interior Spaces

  • 1,940 Sq Ft Home
  • 1-Story Property
  • Wood Flooring

Kitchen

  • Gas Cooktop
  • Dishwasher

Bedrooms and Bathrooms

  • 4 Bedrooms
  • 2 Bathrooms

Laundry

  • Laundry Room
  • Washer and Gas Dryer Hookup

Location

  • Urban Location
  • Suburban Location

Utilities

  • Wall Furnace
  • Gas Water Heater
  • Phone Available
  • Cable TV Available

Listing and Financial Details

  • Tenant pays for cable TV, electricity, grounds care, gas
  • Tax Lot 3
  • Tax Tract Number 2924
  • Assessor Parcel Number 42417214

Community Details

Overview

  • No Home Owners Association
  • 2 Units

Building Details

  • 2 Separate Electric Meters
  • 2 Separate Gas Meters
  • 1 Separate Water Meter
  • Insurance Expense $1,000
  • Maintenance Expense $1,780
  • Water Sewer Expense $3,000
  • New Taxes Expense $10,620
  • Operating Expense $16,400
  • Gross Income $52,960
  • Net Operating Income $36,540

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$7,471

Year Built

Built in 1960

Lot Details

0

Parking

2

Listing Details

  • CapRate: 4.10
  • Price Per Unit: 442500
  • Property Attached: Yes
  • Water Sewer Expenses: 3000.00
  • Architectural Style: Contemporary
  • Property Condition: Turnkey
  • Property Sub Type: Duplex
  • Property Type: Residential Income
  • Parcel Number: 42417214
  • Year Built: 1960
  • Special Features: None

Interior Features

  • Stories: 1
  • Entry Location: Front
  • Common Walls: 1 Common Wall
  • Flooring: Wood
  • Appliances: Yes
  • Entry Level: 1
  • Levels: One
  • Price Per Square Foot: 457.22

Exterior Features

  • Fence: Yes
  • Fencing: Wood
  • Pool Private: No
  • Roof: Asbestos Shingle, Composition
  • Construction Materials: Lap Siding, Stucco

Garage/Parking

  • Garage Spaces: 2.00
  • Total Parking Spaces: 4.00
  • Uncovered Spaces: 2.00

Utilities

  • Utilities: Cable Available, Electricity Available, Electricity Connected, Natural Gas Available, Natural Gas Connected, Phone Available, Sewer Available, Sewer Connected, Water Available, Water Connected
  • Heating: Yes
  • Laundry: Yes
  • Appliances: Dishwasher, Gas Cooktop, Gas Water Heater, Refrigerator
  • Heating Type: Wall Furnace
  • Laundry Features: Gas Dryer Hookup, Washer Hookup
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Suburban, Urban

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Land Lease Expiration Date: 2017-07-31
  • Lot Features: 2-5 Units/Acre, Back Yard, Front Yard, Sprinkler System
  • Lot Size Sq Ft: 5776.00

Rental Info

  • Tenant Pays: Cable TV, Electricity, Grounds Care, Gas

Multi Family

  • Average2 Bed Area: 970 Square Feet
  • Gross Multiplier: 16.20
  • Gross Operating Income: 52960.00
  • Gross Scheduled Income: 54600.00
  • Insurance Expense: 1000.00
  • Maintenance Expense: 1780.00
  • Net Operating Income: 36540.00
  • Number Of Separate Electric Meters: 2
  • Number Of Separate Gas Meters: 2
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 2
  • Number With Dishwasher: 2
  • Number With Range: 2
  • Number With Refrigerator: 2
  • Operating Expense: 16400.00
  • Operating Expense Percent: 30.00
  • Rent Control: No
  • Total Expenses: 16400.00
  • Vacancy Allowance: 1640
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 10620.00
  • Tax Census Tract: 636.05
  • Taxes Percent: 1.21
  • Tax Lot: 3
  • Tax Tract Number: 2924
  • Tax Annual Amount: 7471.00

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Jan 10, 2022
Sold by
Watanabe Michael J and Watanabe Ellies S
Bought by
Watanabe Family Trust
Current Estimated Value
$1,595,740

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$616,000
Interest Rate
3.56%
Mortgage Type
New Conventional

Purchase Details

Closed on
Nov 18, 2019
Sold by
Watanabe Michael J and Watanabe Ellies S
Bought by
Watanabe Michael J and Watanabe Ellies S

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$637,500
Interest Rate
3.5%
Mortgage Type
New Conventional

Purchase Details

Listed on
Mar 4, 2017
Closed on
Mar 13, 2017
Sold by
Weiss Catherine Marie
Bought by
Watanabe Michael J and Watanabe Ellies S
Seller's Agent
David Weinstein
Charter Land Company
Buyer's Agent
Dakoda Muta
Realty One Group West
List Price
$885,000
Sold Price
$887,000
Premium/Discount to List
$2,000
0.23%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
6.45%
Original Mortgage
$665,250
Interest Rate
4.1%
Mortgage Type
New Conventional

Purchase Details

Listed on
Aug 5, 2015
Closed on
Oct 27, 2015
Sold by
Patton Thomas E and Patton Lisa A
Bought by
Weiss Catherine Marie
Seller's Agent
Larry Weichman
Weichman Real Estate
Buyer's Agent
David Weinstein
Charter Land Company
List Price
$725,000
Sold Price
$615,000
Premium/Discount to List
-$110,000
-15.17%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
30.39%

Purchase Details

Closed on
Nov 18, 2004
Sold by
Patton John Alfred
Bought by
Patton Thomas E and Patton Lisa A

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$427,150
Interest Rate
4.19%
Mortgage Type
Purchase Money Mortgage
Source: Public Records

Range of Values:

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Average Value
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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
Watanabe Family Trust -- Clearmark Title
Watanabe Michael J -- Clearmark Title
Watanabe Michael J -- Old Republic Title Company
Watanabe Michael J $887,000 First American Title Comp
Weiss Catherine Marie $615,000 Ticor Title
Patton Thomas E $84,000 North American Title Co
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Closed Watanabe Michael J $616,000
Previous Owner Watanabe Michael J $637,500
Previous Owner Watanabe Michael J $665,250
Previous Owner Patton Thomas E $436,000
Previous Owner Patton Thomas E $427,150
Previous Owner Patton John Alfred $198,250
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
03/31/2017 03/31/17 Sold $887,000 +0.2% $457 / Sq Ft
03/08/2017 03/08/17 Pending -- -- --
03/04/2017 03/04/17 For Sale $885,000 +43.9% $456 / Sq Ft
11/12/2015 11/12/15 Sold $615,000 -15.2% $252 / Sq Ft
10/22/2015 10/22/15 Pending -- -- --
08/05/2015 08/05/15 For Sale $725,000 -- $297 / 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 $12,256 $1,029,436 $854,239 $175,197
2024 $12,256 $1,009,251 $837,489 $171,762
2023 $11,852 $989,462 $821,067 $168,395
2022 $11,485 $970,061 $804,967 $165,094
2021 $11,131 $951,041 $789,184 $161,857
2020 $10,996 $941,290 $781,092 $160,198
2019 $10,756 $922,834 $765,777 $157,057
2018 $10,538 $904,740 $750,762 $153,978
2017 $7,628 $627,300 $556,251 $71,049
2016 $7,471 $615,000 $545,344 $69,656
2015 $6,145 $486,778 $403,886 $82,892
2014 $6,013 $477,243 $395,974 $81,269
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW17036555

California Regional Multiple Listing Service (CRMLS)

APN: 424-172-14