$985,000
SOLD SEP 19, 2014
3 Beds
5 Baths
-- Sq Ft
1.5 Acres

Recently Sold

8% Below List Price

43 Days on Market

About This Home

As of October 2019

The property is well located on the major throughfare of State Street and has excellent exposure for potential tenants. The unit mix consists (17) studios and (3) 1BR/1BA units. All units are single story individual cottage style units. The building is located on 1.5 acres of grass covered land and has amenities such as, wall A/C, private yards, individual hot water heaters and open parking.

Last Agent to Sell the Property

Rick Applebaum

Morgan Skenderian License #01273871 Listed on: 05/05/2014

Last Buyer's Agent

Damien Breaux

Morgan Skenderian License #01460301

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1950

Lot Details

  • 1.5 Acre Lot
  • No Common Walls
  • Density is 16-20 Units/Acre

Bedrooms and Bathrooms

  • 3 Bedrooms
  • 5 Bathrooms

Location

  • Suburban Location

Listing and Financial Details

  • Tenant pays for cable TV
  • Legal Lot and Block 10 / 26
  • Assessor Parcel Number 435220007

Community Details

Overview

  • 20 Buildings
  • 20 Units

Building Details

  • 1 Separate Electric Meter
  • 1 Separate Gas Meter
  • 1 Separate Water Meter
  • Electric Expense $6,425
  • Gardener Expense $1,200
  • Insurance Expense $5,290
  • Maintenance Expense $12,837
  • Other Expense $2,500
  • Trash Expense $6,425
  • Water Sewer Expense $6,425
  • New Taxes Expense $13,403
  • Gross Income $12,850
  • Net Operating Income $78,105

Property Details

Home Type

Multi-Family

Year Built

Built in 1950

Lot Details

0

Listing Details

  • CapRate: 7.30
  • Price Per Unit: 53750
  • Property Attached: No
  • Water Sewer Expenses: 6425.00
  • Property Type: Residential Income
  • Gardener Expense: 1200.00
  • Parcel Number: 435220007
  • Year Built: 1950
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: No Common Walls

Exterior Features

  • Pool Private: No

Utilities

  • Utilities: Sewer Available
  • Trash Expense: 6425.00
  • Water Source: Public

Condo/Co-op/Association

  • Community Features: Suburban

Lot Info

  • Lot Features: 16-20 Units/Acre
  • Lot Size Sq Ft: 65340.00
  • Lot Size Acres: 1.5000

Rental Info

  • Tenant Pays: Cable TV

Multi Family

  • Electric Expense: 6425.00
  • Gross Income: 12850.00
  • Gross Multiplier: 6.97
  • Gross Scheduled Income: 154200.00
  • Gross Spendable Income: 34112.00
  • Insurance Expense: 5290.00
  • Lot Size Area: 65340.0000 Square Feet
  • Maintenance Expense: 12837.00
  • Maintenance Percent: 9.00
  • Net Operating Income: 78105.00
  • Number Of Separate Electric Meters: 1
  • Number Of Separate Gas Meters: 1
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 20
  • Operating Expense: 64530.00
  • Operating Expense Percent: 41.80
  • Other Expense: 2500.00
  • Other Expense Description: Admin
  • Rent Control: No
  • Total Actual Rent: 12800.00
  • Vacancy Allowance: 11565
  • Vacancy Allowance Rate: 7.50

Tax Info

  • New Taxes Expense: 13403.00
  • Tax Block: 26
  • Tax Lot: 10

Range of Values:

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Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price Change Sq Ft Price
10/18/2019 10/18/19 Sold $1,300,000 -16.7% $111 / Sq Ft
07/01/2019 07/01/19 Price Changed $1,560,000 -2.5% $133 / Sq Ft
02/07/2019 02/07/19 For Sale $1,600,000 +62.4% $136 / Sq Ft
09/19/2014 09/19/14 Sold $985,000 -8.4% --
06/17/2014 06/17/14 Pending -- -- --
05/05/2014 05/05/14 For Sale $1,075,000 +60.4% --
05/21/2012 05/21/12 Sold $670,000 -8.2% --
03/05/2012 03/05/12 Pending -- -- --
12/05/2011 12/05/11 For Sale $730,000 -- --
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW14092278

California Regional Multiple Listing Service (CRMLS)

APN: 435-220-007