NOT LISTED FOR SALE

88 Paloma Ave Pacifica, CA 94044

Sharp Park Neighborhood

Estimated Value: $1,766,000 - $2,128,000

6 Beds
3 Baths
3,240 Sq Ft
$583/Sq Ft Est. Value

Last Sold July 14, 2017

Last sale price $1,370,000 $423 Per Sq Ft

Est. 38% increase in value since last sale

Current estimated payment $11,505/month

11 Days on Market

Highlights

  • Wood Flooring
  • 3 Car Attached Garage
  • Level Lot
  • Terra Nova High School Rated A-
  • Coin Laundry

About This Home

As of July 2017

West Sharp Park Triplex...well maintained building...one block to beachwalk, fishing pier, hiking, biking trails and Palmetto Ave. business district...all spacious 2 bedroom units including enclosed garages and shared laundry area...lower unit #1 has upgrades including, hardwood floor, fireplace and a large private back yard...new roof 2014, new water heater 2016, new garage doors 2017...15 minutes to S.F./SFO...EZ commute to SF and Peninsula...Do Not Disturb Occupants!

Last Agent to Sell the Property

John M. Rice

Coastside Associates Real Estate License #01860286 Listed on: 04/20/2017

Last Buyer's Agent

Philip Watson

Compass License #00605221

Compass

Property Details

Home Type

  • Multi-Family

Year Built

  • 1961

Lot Details

  • 4,792 Sq Ft Lot
  • Level Lot

Parking

  • 3 Car Attached Garage
  • Garage Door Opener

Home Design

  • Triplex
  • Slab Foundation
  • Tar and Gravel Roof

Interior Spaces

  • 3,240 Sq Ft Home
  • 2-Story Property
  • Security Lights

Flooring

  • Wood
  • Carpet
  • Vinyl

Utilities

  • Wall Furnace
  • Separate Meters
  • Individual Gas Meter

Listing and Financial Details

  • Total Actual Rent $85,800
  • Month-to-Month Lease Term

Community Details

Overview

Amenities

  • Coin Laundry

Building Details

  • 3 Leased Units
  • Insurance Expense $2,207
  • Maintenance Expense $500
  • Manager Expense $5,148
  • Utility Expense $2,994
  • Trash Expense $2,860
  • Operating Expense $19,065
  • Gross Income $86,760

Property Details

Home Type

Multi-Family

Year Built

1961

Lot Details

0

Parking

3

Listing Details

  • Zoning: R30000
  • Subclass: Triplex
  • Listing Class: Residential Income (2-4 Units)
  • Structure Sq Ft: 3240
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Year Built: 1961

Interior Features

  • Living Sq Ft: 3240
  • Stories: 2
  • Security: Security Lights
  • Laundry: Coin Operated
  • Flooring: Carpet, Hardwood, Vinyl / Linoleum

Exterior Features

  • Foundation: Concrete Slab
  • Roof: Tar And Gravel

Garage/Parking

  • Garage Spaces: 3
  • Garage Parking Features: Attached Garage, Gate / Door Opener

Utilities

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

Schools

  • High School: 772

Lot Info

  • Lot Description: Grade - Level
  • Lot Acres: 0.1100
  • Lot Size Area Minimum Units: Square Feet
  • Minimum Lot Size: 4800.00
  • Lot Size Area Maximum Units: Square Feet
  • Maximum Lot Size: 4800.00

Rental Info

  • Existing Lease Term(s): 1 Year Lease, Lease Agreement - Written, Month To Month
  • Gross Rent Multiplier: 16.71
  • Number Of Leased: 3

Multi Family

  • Utilities: Individual Electric Meters, Individual Gas Meters, Natural Gas, Public Utilities
  • Expense Insurance: 2207
  • Expense Maintenance: 500
  • Expense Management: 5148
  • Expenses Total: 19065
  • Expenses Utility: 2994
  • Expense Trash: 2860
  • Income Annual Gross: 86760.00
  • Income Annual Rental: 85800
  • Income Gross Scheduled: 86760
  • Income Includes: Coin Operated Equip, Laundry
  • Income Other: 960
  • Meters: Separate Electric, Separate Gas
  • Number Of Buildings: 1
  • Operating Expenses Include: Fee - Property Management, Fee - Property Tax, Insurance, Maintenance - Repair, Services - Trash Removal, Utilities - Water
  • Tenant Expenses: Utilities - Electric, Utilities - Gas

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Apr 20, 2017
Closed on
Jun 14, 2017
Sold by
Plate Janice
Bought by
Savage Gregory B and Savage Andrea C
Seller's Agent
John M. Rice
Coastside Associates Real Estate
Buyer's Agent
Philip Watson
Compass
List Price
$1,450,000
Sold Price
$1,370,000
Premium/Discount to List
-$80,000
-5.52%
Current Estimated Value
$1,888,646

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$518,646
Avg. Annual Appreciation
3.86%
Original Mortgage
$984,525
Outstanding Balance
$817,119
Interest Rate
3.94%
Mortgage Type
New Conventional
Estimated Equity
$1,071,527

Purchase Details

Closed on
Jan 18, 2002
Sold by
Plate Janice and Plate Janet
Bought by
Plate Janice

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$415,000
Interest Rate
7.11%

Purchase Details

Closed on
Jan 18, 2000
Sold by
Plate Frederick C and Plate J C
Bought by
Plate Janice and Plate Janet

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
8.97%

Purchase Details

Closed on
Oct 28, 1994
Sold by
Plate Frederick C and Plate Cynthia J
Bought by
Plate Frederick C and Plate Cynthia J

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$59,000
Interest Rate
8.78%

Purchase Details

Closed on
Oct 27, 1994
Sold by
Plate Janet and Plate Frederick C
Bought by
Plate Frederick C and Plate Cynthia J

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$59,000
Interest Rate
8.78%
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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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
Savage Gregory B $1,370,000 North American Title Co Inc
Plate Janice -- Commonwealth Land Title Co
Plate Janice $187,500 Old Republic Title Company
Plate Frederick C -- North American Title Co
Plate Frederick C -- North American Title Company
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Savage Gregory B $984,525
Previous Owner Plate Janice $415,000
Previous Owner Plate Janice $300,000
Previous Owner Plate Frederick C $59,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
07/14/2017 07/14/17 Sold $1,370,000 -5.5% $423 / Sq Ft
05/02/2017 05/02/17 Pending -- -- --
04/20/2017 04/20/17 For Sale $1,450,000 -- $448 / 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 $19,663 $1,558,820 $813,545 $745,275
2023 $19,663 $1,498,291 $781,955 $716,336
2022 $18,512 $1,468,914 $766,623 $702,291
2021 $17,894 $1,440,113 $751,592 $688,521
2020 $18,003 $1,425,348 $743,886 $681,462
2019 $17,752 $1,397,400 $729,300 $668,100
2018 $17,653 $1,370,000 $715,000 $655,000
2017 $4,886 $334,139 $149,758 $184,381
2016 $5,356 $327,590 $146,823 $180,767
2015 $4,891 $322,670 $144,618 $178,052
2014 $4,845 $316,351 $141,786 $174,565
Source: Public Records

Agents Affiliated with this Home

  • J

    Seller's Agent in 2017

    John M. Rice

    Coastside Associates Real Estate

  • P

    Buyer's Agent in 2017

    Philip Watson

    Compass

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Map

Source: MLSListings

MLS Number: ML81647730

MLSListings

APN: 016-012-310

California San Mateo County Pacifica 94044 Sharp Park

88 Paloma Ave, Pacifica, CA

Not Listed for Sale

MultiFamily

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