NOT LISTED FOR SALE

Estimated Value: $894,000 - $2,798,000

3 Beds
3 Baths
1,256 Sq Ft
$1,153/Sq Ft Est. Value

Sale Details

Date Sold: February 22, 2021

Last sale price $725,000 $577 Per Sq Ft

Est. 100% increase in value since last sale

Current estimated payment $8,477 / mo

139 Days on Market

Highlights

  • Ocean View
  • Controlled Access
  • 4-minute walk to Mike Fox Santa Cruz Skatepark
  • Mission Hill Middle School Rated A-
  • Bungalow

About This Home

As of February 2021

PRICE REDUCTION! Escape the city and enjoy coastal living with this superbly located fixer bungalow a stones throw from the Pacific Ocean and Santa Cruz Beach Boardwalk. This property is situated in a highly walkable area near Shoppers Corner, The Buttery, Whole Foods and more. Seabright Beach and the Santa Cruz Yacht Harbor are within easy walking or biking distance. Currently rented as a two unit property, the front unit is month to month while the bonus unit in rear is available. Buyer could possibly continue to operate as a residential income property or convert the site into a beachfront dream home. Bonus unit is considered a conversion ADU by the City and may continue to qualify as such w/ some modification. Buyer to verify status and condition with City. Offer subject to inspection and review of Disclosures.

Last Agent to Sell the Property

James Kendall

Baird Partnership, Inc. License #02010395 Listed on: 09/22/2020

Last Buyer's Agent

James Kendall

Baird Partnership, Inc. License #02010395 Listed on: 09/22/2020

Property Details

Home Type

  • Multi-Family

Year Built

  • 1908

Lot Details

  • 3,210

Property Views

  • Ocean
  • River

Home Design

  • 1,256 Sq Ft Home
  • Bungalow
  • Wood Frame Construction
  • Composition Roof

Parking

  • 3 Parking Spaces
  • Off-Street Parking

Additional Features

  • 3,210 Sq Ft Lot
  • Wall Furnace

Listing and Financial Details

  • Total Actual Rent $50,400

Community Details

Building Details

  • 1 Leased Unit
  • Insurance Expense $2,145
  • Maintenance Expense $850
  • Manager Expense $3,024
  • Utility Expense $3,282
  • Operating Expense $17,915
  • Gross Income $48,888

Additional Features

  • 1,256 Sq Ft Building
  • Controlled Access

Property Details

Home Type

Multi-Family

Year Built

1908

Lot Details

3,210 Sq Ft Lot

Listing Details

  • Zoning: RL
  • Subclass: Multiple Dwellings / Structures
  • Style: Bungalow
  • Listing Class: Residential Income (2-4 Units)
  • Structure Sq Ft: 1256
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Year Built: 1908

Interior Features

  • Living Sq Ft: 1256
  • Security: Controlled / Secured Access

Exterior Features

  • Roof: Composition
  • View: Ocean, River / Stream
  • Construction Type: Wood Frame

Garage/Parking

  • Parking Spaces: 3
  • Garage Parking Features: Off-Street Parking

Utilities

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

Lot Info

  • Lot Description: Regular
  • Lot Acres: 0.0737
  • Lot Size Area Minimum Units: Square Feet
  • Minimum Lot Size: 3210.00
  • Lot Size Area Maximum Units: Square Feet
  • Maximum Lot Size: 3210.00

Rental Info

  • Existing Lease Term(s): Month To Month
  • Gross Rent Multiplier: 13.79
  • Number Of Leased: 1

Multi Family

  • Utilities: Public Utilities
  • Expense Insurance: 2145
  • Expense Maintenance: 850
  • Expense Management: 3024
  • Expenses Total: 17915
  • Expenses Utility: 3282
  • Income Annual Gross: 48888.00
  • Income Annual Rental: 50400
  • Income Gross Scheduled: 50400
  • Income Includes: Rents
  • Meters: Master Electric, Master Gas, Master Water
  • Number Of Buildings: 2
  • Operating Expenses Include: Fee - Property Tax, Insurance, Maintenance, Services - Sewer, Utilities - Electric, Utilities - Gas, Utilities - Heat, Vacancy Factor
  • Tenant Expenses: Rent Only
  • Vacancy Factor: 3

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Sep 22, 2020
Closed on
Feb 19, 2021
Sold by
Dick Steven P and Dick Christina S
Bought by
Michaelian Living Trust and Michaelian
Seller's Agent
James Kendall
Baird Partnership, Inc.
Buyer's Agent
James Kendall
Baird Partnership, Inc.
List Price
$749,000
Sold Price
$725,000
Premium/Discount to List
-$24,000
-3.2%
Current Estimated Value
$1,447,736

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$722,736
Avg. Annual Appreciation
14.37%

Purchase Details

Closed on
May 7, 2012
Sold by
Bayview Loan Servicing Llc
Bought by
Dick Steven P and Dick Christina S

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$210,000
Interest Rate
3.79%
Mortgage Type
New Conventional

Purchase Details

Closed on
Jul 6, 2011
Sold by
Mcelroy Megan
Bought by
Bayview Loan Servicing Llc

Purchase Details

Closed on
Apr 16, 2007
Sold by
Giallo Joseph R and Joseph R Giallo Trust
Bought by
Mcelroy Megan

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$500,000
Interest Rate
5.62%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Nov 30, 2004
Sold by
Giallo Nancy A
Bought by
Giallo Joseph R and Nancy A Giallo Trust
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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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
Michaelian Living Trust $725,000 Orange Coast Title
Dick Steven P $280,000 Pacific Coast Title Company
Bayview Loan Servicing Llc -- Accommodation
Mcelroy Megan $635,000 Santa Cruz Title Company
Giallo Joseph R -- --
Giallo Joseph R -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Dick Steven P $210,000
Previous Owner Mcelroy Megan $500,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
02/22/2021 02/22/21 Sold $725,000 +4.3% $577 / Sq Ft
02/09/2021 02/09/21 Pending -- -- --
02/03/2021 02/03/21 Price Changed $695,000 -7.2% $553 / Sq Ft
02/03/2021 02/03/21 For Sale $749,000 0.0% $596 / Sq Ft
11/30/2020 11/30/20 Pending -- -- --
11/24/2020 11/24/20 For Sale $749,000 0.0% $596 / Sq Ft
11/20/2020 11/20/20 Pending -- -- --
10/05/2020 10/05/20 Price Changed $749,000 -9.7% $596 / Sq Ft
09/22/2020 09/22/20 For Sale $829,000 -- $660 / Sq Ft
Source: MLSListings

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 $8,970 $784,764 $649,460 $135,304
2023 $8,864 $754,290 $624,240 $130,050
2022 $8,767 $739,500 $612,000 $127,500
2021 $4,179 $324,913 $208,873 $116,040
2020 $4,150 $321,581 $206,731 $114,850
2019 $4,057 $315,275 $202,677 $112,598
2018 $4,016 $309,094 $198,703 $110,391
2017 $3,970 $303,034 $194,808 $108,226
2016 $3,772 $297,092 $190,988 $106,104
2015 $3,572 $292,629 $188,119 $104,510
2014 $3,517 $286,897 $184,434 $102,463
Source: Public Records

Agents Affiliated with this Home

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Map

Source: MLSListings

MLS Number: ML81812138

MLSListings

APN: 010-164-16-000

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