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18608 Del Rio Pl Cerritos, CA 90703

$1,450,000 Sold Price as of 08/19/2019

8 Beds
7 Baths
3,921 Sq.Ft.

Sold

$1,450,000 Sold Price as of 08/19/2019 Refinance Your Mortgage

Map preview of 18608 Del Rio Pl, Cerritos, CA 90703

Property Overview: 18608 Del Rio Pl Cerritos, CA has 8 bedrooms, 7 bathrooms, 3,921 living square feet and 8,712 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: 18608 Del Rio Place is 4-unit multifamily investment property located in Cerritos, one of the strongest rental markets in Southern California. Situated on a 0.20-acre lot, the 3,921 square foot property consists of one-, two-, and three-bedroom floor plans and offers amenities including garage and open parking, private balconies or patios, security doors, and on-site laundry. Per the city of Cerritos' 2019 Local Profile, just 2.7 percent of the total housing in the city are 2-4 unit properties.

Listed by Kurt Hediger | BRE #01846649 | Marcus & Millichap RE Invest

Last checked: 5 minutes ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 11

Home details

Lot Sq. Ft: 8,712
HOA Dues: $0/mo
Year built: 1969
Garage: 4 Car
Property Type:: Multi Family

Status: Sold
MLS#: OC19132984
City: Cerritos
County: Los Angeles
Time on Site: 1391 days

Multi-Family Unit Breakdown

Unit Mix Summary

Total # of Units: 4
Total # of Buildings: 1
# of Electric Meters: 0
# of Gas Meters: 0
# of Water Meters: 1

Unit Breakdown 1

# of Units: 1
# of Beds: 1
# of Baths: 1
Garage Spaces: 1
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $1,500
Total Rent: $1,500
Pro Forma/Market Rent: $1,600

Unit Breakdown 2

# of Units: 2
# of Beds: 2
# of Baths: 2
Garage Spaces: 2
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $3,550
Total Rent: $3,550
Pro Forma/Market Rent: $3,900

Unit Breakdown 3

# of Units: 1
# of Beds: 3
# of Baths: 2
Garage Spaces: 1
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $2,299
Total Rent: $2,299
Pro Forma/Market Rent: $2,400

Multi-Family Income/Expense Information

Property Income and Analysis

Gross Rent Multiplier: --
Gross Scheduled Income: $88,968
Net Operating Income: $59,268
Gross Operating Income: $86,322

Annual Expense Breakdown

Total Operating Expense: $27,054
Electric: $873
Gas/Fuel: $873
Licenses: $1,200
New Taxes: $16,788
Trash: $873
Insurance: $2,054
Maintenance: $2,000
Water/Sewer: $873
Other Expenses: $1,520
Other Expense Description: other

Property Details for 18608 Del Rio Pl

Interior Features

Laundry Information

Has Laundry
Community

Exterior Features

No Pool
Pool Features: None

Lot Details / Garage and Parking

Parking/Garage Information

# of Garage Spaces: 4
# of Parking Spaces: 9

Lot Information

Lot Features: Landscaped
Lot Size Source: Assessor

Property Information

Common Walls: No Common Walls
Total # of Units: 4
Parcel Number: 7038006018
Year Built Source: Assessor
Property is not Attached

Homeowners Association, Utilities, Taxes / Assessments

Utilities Information

Sewer: Public Sewer
Water Source: Public

Location / Neighborhood

Location Information

Directions: Cross Streets: South Street and Palo Verde Avenue

Neighborhood Information

Community Features: Sidewalks, Street Lights

View more facts & features

Local Cerritos Agent

Sale History for 18608 Del Rio Pl

Last sold for $1,450,000 on August 19th, 2019

August, 2019
Aug 19, 2019

Date

Sold

CRMLS: OC19132984

$1,450,000

Price
Jul 15, 2019

Date

Pending

CRMLS: OC19132984

$1,450,000

Price
Jun 19, 2019

Date

Active Under Contract

CRMLS: OC19132984

$1,450,000

Price
Jun 6, 2019

Date

Active

CRMLS: OC19132984

$1,450,000

Price
August, 2019
Aug 19, 2019

Date

Sold (Public Records)

Public Records

$1,450,000

Price
January, 2019
Jan 30, 2019

Date

Sold (Public Records)

Public Records

--

Price

Tax History for 18608 Del Rio Pl

Assessed Value (2020): $1,450,000

Year	Land Value	Improved Value	Assessed Value
2020	$870,000	$580,000	$1,450,000

Home Value Compared to the Market

This property vs the competition

18608 Del Rio Pl sold on August 19, 2019 for 31.71% higher than the current median sold price for the city of Cerritos which is $1,100,888. The median sold price per/sqft for Cerritos is $667 and this home is sold at $369.8 per/sqft which puts the price per square foot 44.56% lower than the current median sale per square foot for the city of Cerritos.

About 18608 Del Rio Pl

Detailed summary of property

18608 Del Rio Pl is a multi family that recently sold in Cerritos, CA 90703. This multi family property offered 8 bedrooms, 7 bathrooms, roughly 3,921 living square feet, and sits on an approximately 8,712 square foot lot. 18608 Del Rio Pl was first listed on ArdentRealEstateGroup.com on July 21, 2020. The homeowner sold the property for $1,450,000. Home in Cerritos are selling for a median price of $1,100,888 and a median price per square foot of $667. Based on Ardent Real Estate Group's Cerritos Market Data, this home is sold 31.71% higher than the current median priced home. Local homes that are currently for sale include 1825 Cherry Ave, 13976 Coteau Dr and 1615 Cherry Ave. While the average home in Cerritos, CA is selling in 41 days, 18608 Del Rio Pl has a days on market of 11 days. There are currently 40 homes for sale in the Cerritos real estate market and 28 of them are single family homes while 8 of them are condos and 4 are townhomes. For more information on this home for sale at 18608 Del Rio Pl Cerritos, CA 90703 contact Ardent Real Estate Group and we will put you in touch with one of our Cerritos agents.

Public Facts for 18608 Del Rio Pl

Public county record property details

Beds: 8
Baths: 7
Year built: 1969
Sq. Ft.: 3,921
Lot Size: 8,489
Stories: --

Type: Quadruplex (4 Units, Any Combination)
Pool: No
Spa: No
County: Los Angeles
Lot#: 18
APN: 7038-006-018

The source for these homes facts are from public records.

90703 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends

Median List Price

$998,000

Median List Price/Sq.Ft.

$598

Median Sold Price

$1,100,000

Median Sold Price/Sq.Ft.

$667

Total Inventory

Median Sale to List Price %

112.36%

Avg Days on Market

Loan Type

Conventional (77.78%), FHA (0%), VA (0%), Cash (11.11%), Other (5.56%)

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Homes for Sale Near 18608 Del Rio Pl

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.