NOT LISTED FOR SALE

8347-49 Palm St Lemon Grove, CA 91945

Estimated Value: $753,000 - $991,500

3 Beds
1 Bath
2,793 Sq Ft
$314/Sq Ft Est. Value

Last Sold December 17, 2021

Last sale price $470,000 $168 Per Sq Ft

Est. 87% increase in value since last sale

Current estimated payment $5,380/month

Highlights

  • No HOA
  • Level Lot
  • 1-Story Property
  • Laundry Room
  • Back Yard

About This Home

As of December 2021

Duplex fixer in Lemon Grove. Main unit is a 3 bedroom/1bath. Second unit is a studio unit.

Last Agent to Sell the Property

Curtis Chism

eXp Realty of Southern Calif. License #02105113 Listed on: 09/15/2021

eXp Realty of Southern Calif.

Last Buyer's Agent

Eric Nyquist

Vanguard Properties License #02033214

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $7,229

Year Built

  • Built in 1892

Lot Details

  • 10,629 Sq Ft Lot
  • 1 Common Wall
  • Level Lot
  • Back Yard
  • Density is up to 1 Unit/Acre

Home Design

  • Duplex
  • Fixer Upper

Interior Spaces

  • 2,793 Sq Ft Home
  • 1-Story Property

Bedrooms and Bathrooms

  • 3 Bedrooms
  • 1 Bathroom

Laundry

  • Laundry Room
  • Washer and Gas Dryer Hookup

Parking

  • 2 Open Parking Spaces
  • 2 Parking Spaces

Location

  • Suburban Location

Listing and Financial Details

  • Tax Lot 15012
  • Tax Tract Number 140
  • Assessor Parcel Number 5033103300

Community Details

Overview

  • No Home Owners Association
  • 2 Units

Building Details

  • 2 Leased Units
  • 1 Separate Electric Meter
  • 1 Separate Gas Meter
  • 1 Separate Water Meter
  • Electric Expense $2,400
  • Insurance Expense $2,400
  • Other Expense $1,800
  • Water Sewer Expense $1,200
  • Operating Expense $6,000
  • Gross Income $31,200
  • Net Operating Income $23,400

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$7,229

Year Built

Built in 1892

Lot Details

0

Listing Details

  • Assessments: Yes
  • CapRate: 4.70
  • Price Per Unit: 235000
  • Property Attached: Yes
  • Water Sewer Expenses: 1200.00
  • Zoning: R1
  • Property Condition: Fixer
  • Property Sub Type: Duplex
  • Property Type: Residential Income
  • Parcel Number: 5033103300
  • Year Built: 1892
  • Special Features: None

Interior Features

  • Stories: 1
  • Common Walls: 1 Common Wall
  • Price Per Square Foot: 168.28

Exterior Features

  • Pool Private: No

Garage/Parking

  • Total Parking Spaces: 2.00
  • Uncovered Spaces: 2.00

Utilities

  • Laundry: Yes
  • Laundry Features: Gas & Electric Dryer Hookup, Washer Hookup
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Curbs, Sidewalks, Suburban

Lot Info

  • Land Lease: No
  • Lot Features: 0-1 Unit/Acre, Back Yard, Level
  • Lot Size Sq Ft: 10629.00
  • Lot Size Acres: 0.2440

Multi Family

  • Electric Expense: 2400.00
  • Gross Income: 31200.00
  • Gross Scheduled Income: 31200.00
  • Insurance Expense: 2400.00
  • Lot Size Area: 10629.0000 Square Feet
  • Net Operating Income: 23400.00
  • Number Of Separate Electric Meters: 1
  • Number Of Separate Gas Meters: 1
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 2
  • Number Of Units Total: 2
  • Operating Expense: 7800.00
  • Other Expense: 1800.00
  • Other Expense Description: estimate
  • Rent Control: No
  • Total Expenses: 6000.00

Tax Info

  • Tax Lot: 15012
  • Tax Tract Number: 140.02

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Aug 29, 2022
Sold by
Brian Daly
Bought by
Werevive Holdings Llc
Current Estimated Value
$876,875

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$731,250
Outstanding Balance
$688,908
Interest Rate
3.5%
Mortgage Type
New Conventional
Estimated Equity
$215,802

Purchase Details

Closed on
Dec 7, 2019
Sold by
Field Gregory L
Bought by
Field Gregory Leon and Field Family Trust

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$314,000
Interest Rate
3.7%
Mortgage Type
New Conventional

Purchase Details

Closed on
Oct 9, 2019
Sold by
Field Gregory Leon and Field Gregory L
Bought by
Field Gregory Leon and The Field Family Trust

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$314,000
Interest Rate
3.7%
Mortgage Type
New Conventional

Purchase Details

Closed on
May 17, 2019
Sold by
Hall Alberta Rose
Bought by
Field Gregory L

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$300,000
Interest Rate
4.1%
Mortgage Type
Commercial

Purchase Details

Closed on
Mar 12, 1999
Sold by
Field Gregory L and Field Alberta R
Bought by
Hall Alberta Rose

Purchase Details

Closed on
Sep 17, 1987
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
Werevive Holdings Llc -- Wfg National Title
Daly Brian -- Wfg National Title
Daly Brian -- Wfg Title Insurance
Field Gregory Leon -- Fidelity National Title
Field Gregory Leon -- None Available
Field Gregory L -- Stewart Title Company
Field Gregory L -- Stewart Title Of Ca Inc
Hall Alberta Rose -- --
-- $87,500 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Daly Brian $731,250
Closed Daly Brian $731,250
Previous Owner Werevive Holdings Llc $150,000
Previous Owner Field Gregory Leon $314,000
Previous Owner Field Gregory L $300,000
Previous Owner Field Gregory L $200,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
12/17/2021 12/17/21 Sold $470,000 0.0% $168 / Sq Ft
12/13/2021 12/13/21 Price Changed $470,000 -6.0% $168 / Sq Ft
09/15/2021 09/15/21 Pending -- -- --
09/15/2021 09/15/21 For Sale $500,000 -- $179 / 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 $7,229 $498,766 $371,422 $127,344
2024 $7,229 $488,988 $364,140 $124,848
2023 $7,061 $479,400 $357,000 $122,400
2022 $7,028 $470,000 $350,000 $120,000
2021 $3,239 $154,693 $49,333 $105,360
2020 $3,185 $153,108 $48,828 $104,280
2019 $3,123 $150,107 $47,871 $102,236
2018 $3,049 $147,165 $46,933 $100,232
2017 $2,992 $144,280 $46,013 $98,267
2016 $2,870 $141,452 $45,111 $96,341
2015 $2,858 $139,328 $44,434 $94,894
2014 $2,768 $136,600 $43,564 $93,036
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PTP2106550

California Regional Multiple Listing Service (CRMLS)

APN: 503-310-33