NOT LISTED FOR SALE

902 S Forbes St Lakeport, CA 95453

Estimated Value: $1,729,000 - $2,119,000

32 Beds
-- Bath
12,991 Sq Ft
$146/Sq Ft Est. Value

Last Sold July 28, 2022

Last sale price $2,049,000 $158 Per Sq Ft

Est. 2% increase in value since last sale

Current estimated payment $13,644/month

111 Days on Market

Highlights

  • 0.51 Acre Lot
  • Traditional Architecture
  • Laundry Facilities
  • Clear Lake High School Rated A-
  • Central Heating and Cooling System
  • Carpet

About This Home

As of July 2022

15 Unit multifamily apartment complex in desirable Lakeport location. The building offers varied unit mix comprised of 4- 3BD 1BA, 2- 1BD 1BA, 9-2BD 1.5BA. Units are individually metered for propane and electricity, paid by tenants. All units occupied with several long term tenants. Property is situated on a acre parcel with ample parking options consisting of 15 covered assigned undercover spaces, plus additional 17 uncovered assigned spaces. The property has been under the current ownership for 15 years, and has been maintained and personally managed during this time. Conveniently located and within walking distance to grocery stores, pharmacy, restaurants, downtown area and a stones through to the lake. Lakeport has experienced strong rent growth in the last few years while vacancies remain at a historic low. Perfect for a 1031 exchange buyer looking to grow their portfolio or for an investor looking for a solid investment property.

Last Agent to Sell the Property

Denise Marino

RE/MAX Gold Lake County License #01375525 Listed on: 04/08/2022

RE/MAX Gold Lake County

Last Buyer's Agent

Sally Kalaveras

Sally Kalaveras Broker License #00810042

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $25,546

Year Built

  • Built in 1988

Lot Details

  • 0.51 Acre Lot

Home Design

  • Traditional Architecture
  • Flat Roof Shape
  • Slab Foundation

Interior Spaces

  • 2-Story Property
  • Free-Standing Electric Range

Flooring

  • Carpet
  • Linoleum
  • Vinyl

Home Security

  • Carbon Monoxide Detectors
  • Fire and Smoke Detector

Parking

  • 32 Parking Spaces
  • Carport
  • Open Parking

Utilities

  • Central Heating and Cooling System
  • Internet Available
  • Cable TV Available

Community Details

  • 15 Units
  • Laundry Facilities
  • Gross Income $194,013

Listing and Financial Details

  • Tenant pays for electricity
  • Assessor Parcel Number 025-621-170-000

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$25,546

Year Built

Built in 1988

Lot Details

0

Listing Details

  • Type: Residential Income
  • Property Sub Type: 5 or More Units
  • Subtype Description: Apartments
  • Directions To Property: Main Street to Lakeport Blvd. to S. Forbes
  • Lot Size Acres: 0.5100
  • Stories: 2
  • CapRate: 6.50
  • Actual or Scheduled: Actual
  • ArchitecturalStyle: Traditional
  • Special Features: None

Interior Features

  • Appliances: Free Standing Electric Range
  • Flooring: Carpet, Linoleum, Vinyl
  • NumberOfBuildings: 1

Exterior Features

  • Foundation: Slab
  • Lot Features: Cul-De-Sac
  • Property Condition: Varies By Unit
  • Roof: Flat

Garage/Parking

  • Parking Features: Carport, Covered, Open
  • Total Parking Spaces: 32.00
  • Covered Parking Spaces: 15.00
  • Number Of Guest Spaces: 2
  • OpenParkingSpaces: 15.00

Utilities

  • Cooling: Central, Separate
  • Security Features: Carbon Mon Detector, Smoke Detector
  • Sewer: Sewer Connected
  • Utilities: Cable Available, Internet Available
  • Water Source: Water District
  • Heating: Central
  • Laundry Features: Coin Operated, In Common Area
  • Separate Meters: Electricity, Other

Lot Info

  • Assessor Parcel Number: 025-621-170-000
  • Lot Size Sq Ft: 22216.00

Rental Info

  • TenantPays: Electricity, Other

Building Info

  • Year Built: 1988

Multi Family

  • 1 Bedroom Rent Range: 840.00-1125.00
  • Two Bedroom Rent Range: 1245.00-1418.65
  • Three Bedroom Rent Range: 1295.00-1375.00
  • Number Of1 Bedrooms Occupied: 2
  • Number of 1 Bedroom Units: 2
  • Number Of2 Bedrooms Occupied: 8
  • Number of 2 Bedroom Units: 9
  • Number Of3 Bedrooms Occupied: 3
  • Number of 3 Bedroom Units: 4
  • NumberOfUnitsTotal: 15

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Apr 8, 2022
Closed on
Jul 26, 2022
Sold by
Derek R Butcher Separate Property Trust
Bought by
Big Valley Band Of Primo Indians Of The Big V
Seller's Agent
Denise Marino
RE/MAX Gold Lake County
Buyer's Agent
Sally Kalaveras
Sally Kalaveras Broker
List Price
$1,949,000
Sold Price
$2,049,000
Premium/Discount to List
$100,000
5.13%
Current Estimated Value
$2,084,857

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$35,857
Avg. Annual Appreciation
0.34%
Original Mortgage
$2,060,000
Interest Rate
5.78%
Mortgage Type
Construction

Purchase Details

Closed on
Feb 26, 2013
Sold by
Butcher Derek R and Butcher Kelly L
Bought by
Prope Butcher Derek R and Prope Derek R Butcher Separate

Purchase Details

Closed on
Sep 29, 2008
Sold by
Butcher Derek R and Butcher Kelly L
Bought by
Butcher Derek R and Butcher Kelly L

Purchase Details

Closed on
Apr 28, 2005
Sold by
Mountanos Mark P and Mark P Mountanos Revocable Tru
Bought by
Butcher Derek R and Butcher Kelly L

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,000,000
Interest Rate
6.02%
Mortgage Type
Purchase Money Mortgage
Source: Public Records

Range of Values:

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Average Value
Not Available
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
Big Valley Band Of Primo Indians Of The Big V $2,049,000 Fidelity National Title
Prope Butcher Derek R -- None Available
Butcher Derek R -- None Available
Butcher Derek R $1,500,000 First American Title
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Closed Big Valley Band Of Primo Indians Of The Big V $2,060,000
Previous Owner Butcher Derek R $1,000,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
07/28/2022 07/28/22 Sold $2,049,000 +5.1% $158 / Sq Ft
04/08/2022 04/08/22 For Sale $1,949,000 -- $150 / Sq Ft
Source: Bay Area Real Estate Information Services (BAREIS)

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
2024 $25,546 $2,091,000 $306,000 $1,785,000
2023 $25,126 $2,050,000 $300,000 $1,750,000
2022 $23,637 $1,911,831 $280,398 $1,631,433
2021 $23,479 $1,874,345 $274,900 $1,599,445
2020 $18,813 $1,170,000 $176,000 $994,000
2019 $15,340 $1,170,000 $176,000 $994,000
2018 $14,363 $1,170,000 $176,000 $994,000
2017 $14,543 $1,170,000 $176,000 $994,000
2016 $14,581 $1,170,000 $176,000 $994,000
2015 $14,621 $1,170,000 $176,000 $994,000
2014 $13,846 $1,170,000 $176,000 $994,000
Source: Public Records

Agents Affiliated with this Home

  • D

    Seller's Agent in 2022

    Denise Marino

    RE/MAX Gold Lake County

    (707) 245-5077

    11 in this area

    27 Total Sales

    Section Image

  • S

    Buyer's Agent in 2022

    Sally Kalaveras

    Sally Kalaveras Broker

    (707) 262-1000

    6 in this area

    39 Total Sales

    Section Image
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Map

Source: Bay Area Real Estate Information Services (BAREIS)

MLS Number: 322031527

Bay Area Real Estate Information Services (BAREIS)

APN: 025-621-170-000

California Lake County Lakeport 95453

902 S Forbes St, Lakeport, CA

This home is located at 902 S Forbes St, Lakeport, CA 95453 since 08 April 2022 and is currently estimated at $1,899,088, approximately $146 per square foot. This property was built in 1988. 902 S Forbes St is a home located in Lake County with nearby schools including Lakeport Elementary School, Terrace Middle School, and Clear Lake High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Bay Area Real Estate Information Services (BAREIS) Listing information deemed reliable but not guaranteed. Copyright 2025 Bay Area Real Estate Information Services, Inc. All Right Reserved.

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