NOT LISTED FOR SALE

7841 Miller Ave Gilroy, CA 95020

Estimated Value: $1,102,000 - $1,601,881

8 Beds
5 Baths
2,423 Sq Ft
$605/Sq Ft Est. Value

Last Sold October 21, 2020

Last sale price $1,500,000 $619 Per Sq Ft

Est. 2% decrease in value since last sale

Current estimated payment $9,346/month

5 Days on Market

Highlights

  • Art Studio
  • 1.31 Acre Lot
  • Wood Flooring
  • Private Pool
  • Mountain View
  • Farmhouse Style Home

About This Home

As of October 2020

Iconic Miller Avenue property on rare 1.2 acre lot located between 1st Street and Second Street in Gilroy's unique and highly desirable Golden Triangle...first time on market! This property's current layout, acreage, zoning and surrounding neighborhood propose several different opportunities for developers, extended/multi-family buyers, income producing property investors, or just someone looking for a special piece with a huge lot in town. In addition to the main home, there are 4 legal detached rental units existing with separate meters, 3 of which are rented (4th requires renovation). These units along with the main house offer sizable cash flow for investors and/or developers as they await approval. This is a truly unique opportunity to own a special piece of real estate in the heart of Gilroy.

Last Agent to Sell the Property

Ryan Mull

The Realty Society License #01329887 Listed on: 09/02/2020

Last Buyer's Agent

Edward Lujan

Windermere Valley Properties License #01965426

Windermere Valley Properties

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $19,619

Year Built

  • 1920

Lot Details

  • 1.31 Acre Lot
  • Fenced
  • Level Lot
  • Back Yard
  • May Be Possible The Lot Can Be Split Into 2+ Parcels

Parking

  • 4 Car Garage
  • 3 Carport Spaces
  • Guest Parking
  • Uncovered Parking

Home Design

  • Farmhouse Style Home
  • Spanish Architecture
  • Raised Foundation
  • Slab Foundation
  • Wood Frame Construction
  • Composition Roof
  • Concrete Perimeter Foundation

Interior Spaces

  • 2,423 Sq Ft Home
  • 2-Story Property
  • Fireplace
  • Den
  • Art Studio
  • Mountain Views
  • Security Lights
  • Washer and Dryer

Kitchen

  • Built-In Oven
  • Gas Cooktop
  • Range Hood
  • Microwave
  • Dishwasher
  • Kitchen Island
  • Disposal

Flooring

  • Wood
  • Carpet
  • Tile

Outdoor Features

  • Private Pool
  • Balcony
  • Shed

Utilities

  • Wall Furnace

Listing and Financial Details

  • Total Actual Rent $78,000

Community Details

Overview

  • 2,423 Sq Ft Building

Building Details

  • 3 Leased Units
  • Gardener Expense $2,400
  • Insurance Expense $1,500
  • Operating Expense $22,650
  • Gross Income $78,000

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$19,619

Year Built

1920

Lot Details

0

Parking

4

Listing Details

  • Zoning: R1
  • Subclass: Multiple Dwellings / Structures
  • Style: Farm House, Spanish
  • Listing Class: Residential Income (2-4 Units)
  • Structure Sq Ft: 2423
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Year Built: 1920

Interior Features

  • Kitchen: Cooktop - Gas, Countertop - Other, Dishwasher, Garbage Disposal, Hood Over Range, Island, Microwave, Oven Range - Built-In, Pantry
  • Living Sq Ft: 2423
  • Stories: 2
  • Security: Security Lights
  • Laundry: Washer / Dryer
  • Flooring: Carpet, Hardwood, Tile
  • Additional Rooms: Artist Studio, Office Area

Exterior Features

  • Foundation: Concrete Perimeter, Concrete Slab, Raised
  • Pool Description: Yes
  • Roof: Composition
  • View: Mountains
  • Yard/Grounds: Back Yard, Balcony / Patio, Fenced, Storage Shed / Structure
  • Pool: Cabana / Dressing Room, Pool - Fiberglass, Pool - In Ground
  • Construction Type: Concrete, Wood, Wood Frame

Garage/Parking

  • Garage Spaces: 4
  • Parking Spaces: 20
  • Garage Parking Features: Carport, Guest / Visitor Parking, Room For Oversized Vehicle, Uncovered Parking
  • Carport Min: 3

Utilities

  • Heating System: Fireplace, Wall Furnace
  • Sewer/Septic System: Sewer - Public

Schools

  • High School: 277

Lot Info

  • Lot Description: Grade - Level, Possible Lot Split
  • Lot Acres: 1.3108
  • Lot Size Area Minimum Units: Square Feet
  • Minimum Lot Size: 57100.00
  • Lot Size Area Maximum Units: Square Feet
  • Maximum Lot Size: 57100.00

Rental Info

  • Existing Lease Term(s): Month To Month
  • Gross Rent Multiplier: 19.23
  • Number Of Leased: 3

Multi Family

  • Utilities: Public Utilities
  • Expense Insurance: 1500
  • Expense Landscape: 2400
  • Expenses Total: 22650
  • Income Annual Gross: 78000.00
  • Income Annual Rental: 78000
  • Income Gross Scheduled: 78000
  • Income Includes: Rents
  • Meters: Separate Electric, Separate Gas
  • Number Of Buildings: 4
  • Operating Expenses Include: Insurance, Maintenance, Services - Gardener
  • Tenant Expenses: Utilities - Electric, Utilities - Gas, Utilities - Water

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Sep 2, 2020
Closed on
Oct 14, 2020
Sold by
Deleon Valente and Deleon Maria R
Bought by
Valdez Monica Michelle and Mason Nicholas Robert
Seller's Agent
Ryan Mull
The Realty Society
Buyer's Agent
Edward Lujan
Windermere Valley Properties
List Price
$1,499,950
Sold Price
$1,500,000
Premium/Discount to List
$50
0.003%
Current Estimated Value
$1,465,970

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$34,030
Avg. Annual Appreciation
-0.46%
Original Mortgage
$1,200,000
Outstanding Balance
$1,065,390
Interest Rate
2.8%
Mortgage Type
New Conventional
Estimated Equity
$400,580

Purchase Details

Closed on
Aug 29, 2007
Sold by
Alonzo Robert and Alonzo Zenaida
Bought by
Deleon Valente and Deleon Maria R

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$650,000
Interest Rate
7.62%
Mortgage Type
New Conventional

Purchase Details

Closed on
Sep 9, 2002
Sold by
Alonzo Robert and Alonzo Zenaida
Bought by
Alonzo Robert and Alonzo Zenaida

Purchase Details

Closed on
May 17, 2002
Sold by
Alonzo Robert and Alonzo Zenaida
Bought by
Alonzo Robert and Alonzo Zenaida

Purchase Details

Closed on
Aug 26, 1998
Sold by
Alonzo and Zenaida
Bought by
Alonzo Robert and Alonzo Zenaida

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$240,000
Interest Rate
6.89%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Aug 16, 1995
Sold by
Alonzo Robert and Alonzo Zenaida
Bought by
Alonzo Robert and Alonzo Zenaida
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
Valdez Monica Michelle $1,500,000 Chicago Title Company
Deleon Valente $812,500 Commonwealth Land Title
Alonzo Robert $112,500 --
Alonzo Robert $100,500 Stewart Title
Alonzo Robert -- American Title Ins Co
Alonzo Robert -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Valdez Monica Michelle $1,200,000
Previous Owner Deleon Valente $650,000
Previous Owner Alonzo Robert $240,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
10/21/2020 10/21/20 Sold $1,500,000 0.0% $619 / Sq Ft
09/08/2020 09/08/20 Pending -- -- --
09/02/2020 09/02/20 For Sale $1,499,950 -- $619 / Sq Ft
Source: MLSListings

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 $19,619 $1,623,646 $887,593 $736,053
2024 $19,619 $1,591,811 $870,190 $721,621
2023 $19,506 $1,560,600 $853,128 $707,472
2022 $19,189 $1,530,000 $836,400 $693,600
2021 $19,110 $1,500,000 $820,000 $680,000
2020 $12,380 $975,840 $536,622 $439,218
2019 $12,263 $956,706 $526,100 $430,606
2018 $11,446 $937,948 $515,785 $422,163
2017 $11,689 $919,558 $505,672 $413,886
2016 $8,700 $684,000 $375,500 $308,500
2015 $7,311 $600,000 $400,000 $200,000
2014 $5,993 $485,000 $300,000 $185,000
Source: Public Records

Agents Affiliated with this Home

  • Ryan Mull

    Seller's Agent in 2020

    Ryan Mull

    The Realty Society

    (408) 805-0359

    13 in this area

    65 Total Sales

    Ryan Mull
    Section Image
  • Edward Lujan

    Buyer's Agent in 2020

    Edward Lujan

    Windermere Valley Properties

    (408) 767-8998

    6 in this area

    22 Total Sales

    Edward Lujan
    Section Image
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Map

Source: MLSListings

MLS Number: ML81808839

MLSListings

APN: 808-13-011

California Santa Clara County Gilroy 95020

7841 Miller Ave, Gilroy, CA

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