NOT LISTED FOR SALE

921 E Lingo Ave Reedley, CA 93654

6 Beds
3 Baths
5,819 Sq Ft
0.29 Acres

Last Sold July 11, 2016

Last sale price $400,000 $69 Per Sq Ft

120 Days on Market

Highlights

  • Laundry Room
  • General Grant Middle School Rated 9+
  • Level Lot

About This Home

As of July 2016

The subject property is a seven-unit multifamily property located at 921 East Lingo Avenue in the city of Reedley, California. The property consists of a two-story residential structure on a 12,632-square foot parcel of land in a residential neighborhood characterized by well-maintained single-family dwellings and small multifamily buildings.

Built in 1986, the subject property is of wood frame/stucco construction with a pitched composition shingle roof. The property has been recently renovated and is in very good overall condition. The unit mix is very desirable with one 1br/1ba unit, four 2br/1ba units and two 3br/1ba units. Each unit has its own 40 gallon water heater and washer/dryer hookups. Covered carport parking is also provided for tenants.

Reedley is located in the San Joaquin Valley 22 miles southeast of Fresno. Its chief economic source is agriculture, particularly fruit and vegetable cultivation. The city dubs itself "The World's Fruit Basket." Reedley is situated along the Kings River, and in the summer many local residents and visitors drive to Cricket Hollow Park and Reedley Beach. Downtown Reedley offers various specialty shops that many visitors and locals enjoy.

Last Agent to Sell the Property

Matthew Wenzel

Marcus & Millichap License #01198357 Listed on: 02/09/2016

Last Buyer's Agent

Wendell Jones

Realty One Group Infinity License #01857914

Realty One Group Infinity

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1986

Lot Details

  • 0.29 Acre Lot
  • Two or More Common Walls
  • Level Lot
  • Density is 21-25 Units/Acre

Home Design

  • 5,819 Sq Ft Home
  • Property Attached

Bedrooms and Bathrooms

  • 6 Bedrooms
  • 3 Bathrooms

Laundry

  • Laundry Room
  • Washer and Gas Dryer Hookup

Parking

  • 28 Parking Spaces
  • 7 Carport Spaces

Location

  • Suburban Location

Listing and Financial Details

  • Assessor Parcel Number 37015046

Community Details

Overview

  • 7 Units

Building Details

  • 8 Separate Electric Meters
  • 8 Separate Gas Meters
  • 7 Separate Water Meters
  • Electric Expense $1,200
  • Insurance Expense $2,036
  • Maintenance Expense $3,500
  • Other Expense $2,100
  • Professional Management Expense $4,000
  • Trash Expense $1,639
  • Water Sewer Expense $4,742
  • New Taxes Expense $4,620
  • Gross Income $4,400
  • Net Operating Income $26,323

Property Details

Home Type

Multi-Family

Year Built

Built in 1986

Lot Details

0

Listing Details

  • CapRate: 6.30
  • Professional Management Expense: 4000.00
  • Property Attached: Yes
  • Water Sewer Expenses: 4742.00
  • Property Type: Residential Income
  • Parcel Number: 37015046
  • Year Built: 1986
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: 2+ Common Walls
  • Levels: Two
  • Price Per Square Foot: 68.74

Exterior Features

  • Pool Private: No

Garage/Parking

  • Carport Spaces: 7.00
  • Total Parking Spaces: 28.00

Utilities

  • Utilities: Sewer Connected
  • Laundry: Yes
  • Laundry Features: Gas Dryer Hookup, Washer Hookup
  • Trash Expense: 1639.00
  • Water Source: Public

Condo/Co-op/Association

  • Community Features: Suburban

Lot Info

  • Land Lease: No
  • Lot Features: 21-25 Units/Acre, Level with Street, Lot 10000-19999 Sqft
  • Lot Size Sq Ft: 12632.00
  • Price Per Lot Square Foot: 31.67
  • Lot Size Acres: 0.2900

Multi Family

  • Electric Expense: 1200.00
  • Gross Income: 4400.00
  • Gross Multiplier: 7.90
  • Gross Scheduled Income: 52800.00
  • Insurance Expense: 2036.00
  • Lot Size Area: 12632.0000 Square Feet
  • Maintenance Expense: 3500.00
  • Net Operating Income: 26323.00
  • Number Of Separate Electric Meters: 8
  • Number Of Separate Gas Meters: 8
  • Number Of Separate Water Meters: 7
  • Number Of Units Total: 7
  • Operating Expense: 23837.00
  • Other Expense: 2100.00
  • Other Expense Description: Misc
  • Rent Control: No
  • Vacancy Allowance Rate: 5.00

Tax Info

  • New Taxes Expense: 4620.00

Range of Values:

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Value Increase
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Percent Increase
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Adjusted for Inflation
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Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
07/11/2016 07/11/16 Sold $400,000 -4.8% $69 / Sq Ft
06/08/2016 06/08/16 Pending -- -- --
02/09/2016 02/09/16 For Sale $420,000 -- $72 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • M

    Seller's Agent in 2016

    Matthew Wenzel

    Marcus & Millichap

    (562) 257-1200

    13 Total Sales

    Matthew Wenzel
    Section Image

  • W

    Buyer's Agent in 2016

    Wendell Jones

    Realty One Group Infinity

    (408) 377-0621

    15 Total Sales

    Wendell Jones
    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW16027300

California Regional Multiple Listing Service (CRMLS)
California Fresno County Reedley 93654

921 E Lingo Ave, Reedley, CA

Not Listed for Sale

MultiFamily

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California Regional Multiple Listing Service (CRMLS) The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.

Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information

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