NOT LISTED FOR SALE

Estimated Value: $668,000 - $763,000

3 Beds
2 Baths
1,340 Sq Ft
$529/Sq Ft Est. Value

Last Sold June 15, 2016

Last sale price $375,000 $280 Per Sq Ft

Est. 89% increase in value since last sale

Current estimated payment $4,331/month

86 Days on Market

Highlights

  • Gated Parking
  • 2 Car Direct Access Garage
  • 1-Story Property
  • No HOA
  • Paved or Partially Paved Lot
  • 3-minute walk to Garfield Park

About This Home

As of June 2016

A beautiful property with excellent additional income. Well maintained with numerous upgrades. This property has two separate homes on one lot, with two separate 1-car garages. Each home is separately fenced and each tenant has their own private yard space and separate entrance. Front home is a 2-bedroom 1-bath beauty that generates $1,650/month. Rear home is a 1-bedroom 1-bath upgraded stunning home that generates $1,100/months. This property is a great for whom ever is interested in a low-maintenance, cash producing investment. Total monthly cash flow is $2,750/month! Also great for any buyer looking to live in one and rent the other.

Last Agent to Sell the Property

Oscar Pinto

Elevate Real Estate Agency License #01908825 Listed on: 03/02/2016

Last Buyer's Agent

Katie McLaren

Tarbell REALTORS License #01459225

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $5,647

Year Built

  • Built in 1939

Lot Details

  • 6,239 Sq Ft Lot
  • No Common Walls
  • Paved or Partially Paved Lot

Parking

  • 2 Car Direct Access Garage
  • Parking Available
  • Rear-Facing Garage
  • Driveway
  • Gated Parking
  • Unassigned Parking

Interior Spaces

  • 1,340 Sq Ft Home
  • 1-Story Property

Bedrooms and Bathrooms

  • 3 Bedrooms
  • 2 Bathrooms

Location

  • Suburban Location

Listing and Financial Details

  • Tenant pays for cable TV, electricity, gas, janitorial service
  • Tax Lot 27
  • Tax Tract Number 8767
  • Assessor Parcel Number 8326019002

Community Details

Overview

  • No Home Owners Association
  • 4 Buildings
  • 2 Units

Building Details

  • 2 Leased Units
  • 2 Separate Electric Meters
  • 2 Separate Gas Meters
  • 1 Separate Water Meter
  • Gardener Expense $600
  • Insurance Expense $850
  • Trash Expense $600
  • Water Sewer Expense $600
  • New Taxes Expense $4,600
  • Operating Expense $7,250
  • Gross Income $2,750
  • Net Operating Income $24,100

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$5,647

Year Built

Built in 1939

Lot Details

0

Parking

2

Listing Details

  • Assessments: Yes
  • CapRate: 5.80
  • Property Attached: No
  • Water Sewer Expenses: 600.00
  • Property Type: Residential Income
  • Gardener Expense: 600.00
  • Parcel Number: 8326019002
  • Year Built: 1939
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Stories: 1
  • Common Walls: No Common Walls
  • Levels: One
  • Price Per Square Foot: 279.85

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 2.00
  • Parking: Yes
  • Parking Features: Driveway, Direct Garage Access, Gated, Garage Faces Rear, Unassigned
  • Total Parking Spaces: 2.00

Utilities

  • Utilities: Sewer Available
  • Trash Expense: 600.00
  • Water Source: Public

Condo/Co-op/Association

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

Lot Info

  • Additional Parcels: No
  • Lot Features: Paved
  • Lot Size Sq Ft: 6239.00
  • Price Per Lot Square Foot: 60.11
  • Lot Size Acres: 0.1430

Rental Info

  • Tenant Pays: Cable TV, Electricity, Gas, Janitorial Service

Multi Family

  • Gross Income: 2750.00
  • Gross Multiplier: 12.50
  • Gross Operating Income: 31350.00
  • Gross Scheduled Income: 33000.00
  • Insurance Expense: 850.00
  • Lot Size Area: 6239.0000 Square Feet
  • Net Operating Income: 24100.00
  • Number Of Rented Garages: 2
  • Number Of Separate Electric Meters: 2
  • Number Of Separate Gas Meters: 2
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 2
  • Number Of Units Total: 2
  • Operating Expense: 7250.00
  • Rent Control: No
  • Total Actual Rent: 33000.00
  • Total Expenses: 7250.00
  • Vacancy Allowance: 1650
  • Vacancy Allowance Rate: 5.00

Tax Info

  • New Taxes Expense: 4600.00
  • Tax Lot: 27
  • Tax Tract Number: 8767

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Mar 2, 2016
Closed on
Apr 19, 2016
Sold by
Mastin Dona A
Bought by
T & N Family Living Trust
Seller's Agent
Oscar Pinto
Elevate Real Estate Agency
Buyer's Agent
Katie McLaren
Tarbell REALTORS
List Price
$415,000
Sold Price
$375,000
Premium/Discount to List
-$40,000
-9.64%
Current Estimated Value
$708,366

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$333,366
Avg. Annual Appreciation
7.11%
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
T & N Family Living Trust $375,000 Orange Coast Title Co
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Mastin Wayne A $100,000
Previous Owner Mastin Wayne A $85,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
06/15/2016 06/15/16 Sold $375,000 -9.6% $280 / Sq Ft
05/27/2016 05/27/16 Pending -- -- --
03/02/2016 03/02/16 For Sale $415,000 -- $310 / 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 $5,647 $443,918 $207,162 $236,756
2024 $5,647 $435,214 $203,100 $232,114
2023 $5,533 $426,681 $199,118 $227,563
2022 $5,445 $418,315 $195,214 $223,101
2021 $5,320 $410,114 $191,387 $218,727
2020 $5,303 $405,910 $189,425 $216,485
2019 $5,437 $397,952 $185,711 $212,241
2018 $5,042 $390,150 $182,070 $208,080
2016 $2,198 $158,430 $63,047 $95,383
2015 $2,181 $156,051 $62,100 $93,951
2014 $2,177 $152,995 $60,884 $92,111
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: CV16043485

California Regional Multiple Listing Service (CRMLS)

APN: 8326-019-002