$1,050,000
SOLD SEP 13, 2017

981 W C St Colton, CA 92324

11 Beds
9 Baths
4,766 Sq Ft
0.76 Acres

Recently Sold

$220 Per Sq Ft

11% Below List Price

6 Days on Market

Highlights

  • 33,000 Sq Ft lot
  • Chain Link Fence
  • 1-Story Property

About This Home

As of September 2017

$90,120 per year scheduled income for a cash generating property located in the HIGH DEMAND good part of Colton, yes this part is
considered good and the streets are nice clean streets. See for yourself! Rents were previously low and property was in need of
dire attention when first bought, BUT luckily for you, Landlord made the right changes here and made life EASY for you. Now rents
are HEALTHY with room to increase in its current condition. Very easy location to rent out and to RAISE RENTS high...high...and
HIGHER! Schools are walking distance, freeways and stores a minute away. *** Furthermore, current land use allows for 5-14 units
on this largely unused 36,000 sqft lot. There are only 9 right now. Perhaps you are the one to make full use of all the space here?

Last Agent to Sell the Property

Eddie Hsu

New Century Commercial License #00514782 Listed on: 07/03/2017

New Century Commercial

Last Buyer's Agent

Daniel Hernandez

Excellence RE Real Estate License #01042373

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1964

Lot Details

  • 0.76 Acre Lot
  • Two or More Common Walls
  • Chain Link Fence
  • Density is up to 1 Unit/Acre

Parking

  • 8 Open Parking Spaces
  • 1 Car Garage
  • Parking Available
  • Assigned Parking

Home Design

  • Property Attached
  • Shingle Roof

Interior Spaces

  • 4,766 Sq Ft Home
  • 1-Story Property

Bedrooms and Bathrooms

  • 11 Bedrooms
  • 9 Bathrooms

Additional Features

  • Exterior Lighting
  • Suburban Location
  • Conventional Septic

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Tax Lot 7
  • Tax Tract Number 1901
  • Assessor Parcel Number 0274152440000

Community Details

Overview

  • 5 Buildings
  • 9 Units

Building Details

  • 9 Separate Electric Meters
  • 9 Separate Gas Meters
  • 1 Separate Water Meter
  • Insurance Expense $4,000
  • Professional Management Expense $3,605
  • Trash Expense $1,827
  • Water Sewer Expense $5,378
  • New Taxes Expense $10,114
  • Operating Expense $32,724
  • Gross Income $88,800
  • Net Operating Income $57,396

Property Details

Home Type

Multi-Family

Year Built

Built in 1964

Lot Details

0

Parking

1

Listing Details

  • CapRate: 4.86
  • Professional Management Expense: 3605.00
  • Property Attached: Yes
  • Water Sewer Expenses: 5378.00
  • Zoning: RS
  • Property Type: Residential Income
  • Parcel Number: 0274152440000
  • Year Built: 1964
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Stories: 1
  • Common Walls: 2+ Common Walls
  • Levels: One
  • Price Per Square Foot: 220.31

Exterior Features

  • Fence: Yes
  • Fencing: Chain Link
  • Pool Private: No
  • Roof: Shingle

Garage/Parking

  • Garage Spaces: 1.00
  • Parking: Yes
  • Parking Features: Assigned
  • Total Parking Spaces: 9.00
  • Uncovered Spaces: 8.00

Utilities

  • Laundry: No
  • Sewer: Conventional Septic
  • Trash Expense: 1827.00
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Sidewalks, Storm Drains, Street Lights, Suburban

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 0-1 Unit/Acre
  • Lot Size Sq Ft: 33000.00

Rental Info

  • Tenant Pays: Electricity, Gas

Multi Family

  • Gross Income: 88800.00
  • Gross Scheduled Income: 90120.00
  • Insurance Expense: 4000.00
  • Net Operating Income: 57396.00
  • Number Of Separate Electric Meters: 9
  • Number Of Separate Gas Meters: 9
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 9
  • Operating Expense: 32724.00
  • Rent Control: No
  • Total Expenses: 32724.00

Tax Info

  • New Taxes Expense: 10114.00
  • Tax Census Tract: 66.01
  • Tax Lot: 7
  • Tax Tract Number: 1901

Range of Values:

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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 Change Sq Ft Price
09/13/2017 09/13/17 Sold $1,050,000 -11.0% $220 / Sq Ft
07/03/2017 07/03/17 For Sale $1,180,000 +60.5% $248 / Sq Ft
04/30/2015 04/30/15 Sold $735,000 -1.9% $155 / Sq Ft
03/04/2015 03/04/15 Pending -- -- --
08/27/2014 08/27/14 For Sale $749,000 0.0% $158 / Sq Ft
01/21/2014 01/21/14 Rented $675 0.0% --
01/21/2014 01/21/14 For Rent $675 -- --
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: AR17151098

California Regional Multiple Listing Service (CRMLS)