Stein Valuation, Inc.
Real Estate Appraisals & Consultation
Our appraisal experience spans the spectrum of property types and includes, apartment, office buildings, industrial buildings, R & D Buildings, mobile home parks, residential subdivisions, retail buildings and shopping centers, mixed portfolios, same-use portfolios, mixed use buildings, and a multitude of other property types. If you are a new visitor to our site, we invite you to explore these pages for more information on our services and the appraisal industry.
Following is a typical Appraisal Location description utilized by the Appraiser in analyzing the general area market trends.
Malibu Area Description
The city of Malibu is one of the largest cities in California and the United States. It has a population density of 632.9 persons per square mile of land area. It's a beachfront community famous for its warm sandy beaches, aside from it being the home to several well known movie stars. Its population was 12,575.It has several beaches which includes, Malibu State Beach, Topanga State Beach, to name a few and its parks includes Malibu Creek State Park, and the Santa Monica Mountains National Recreation Area.
Malibu is located in western Los Angeles county California. It is bounded by Topanga and Pacific Palisades to the east, Santa Monica to the north, the Pacific Ocean to the south, and Ventura County to the north and west.
The housing units used in Malibu for its residents totaled 6,188. For 1-unit detached there was a total of 62.3% then 7.8% of 1- unit, attached. There were 8.3% multiple housing units, and then 10% mobile homes. Most of the structures were built around 1970 to 1979 for a total of 28.8%. And 0.8% housing units were built in 1999 to March 2000. Beyond that year no more housing units were built.
Of the total housing units built, 5,226 were occupied. And 962 housing units were vacant. Of the 5,226 occupied units, 2,851 were specified owner occupied units. And 1,454 units were specified renter occupied units. And out of the 2,851 specified owner occupied units, 2,155 were mortgaged. And 63.1% had a monthly mortgage cost of $2,000 or more. And the median monthly mortgage cost was $4,000+
Out of the total renter occupied units, 0.4% had a gross rent of less than $200 a month. 3.4% had a gross rent of $300 to $499; 1.7$ had a gross rent of $500 to $749; 9.6% had a gross rent of $750 to $999, while 53.3% had a gross rent of $1,500 or more. And the median monthly gross rent was $1,652.
While none of the vacant for sale housing unit had an asking price of less than $400,000 to $499,999 there were 53.6% of the vacant for sale housing unit that was priced $1,000,000 or more. And the median asking price was $1,000,000
While the educational attainment for the population of Malibu for 25 years old and over was 32.7% for those who got Bachelor’s degree, followed by graduates or had professional degree which is 26.7% Others got some college, but no degree. Some were high school graduates and 0.6% got less than 9th grade. While the highest population for students that were enrolled with 38.9% was elementary school (grades 1-8) followed by college or graduate school, and the high school (grades9-12) with 18.6%
The employment status of Malibu city is that for its population between the ages of 16 and over 6,597 were in the labor force.62.2% are employed. And around 1.85 was unemployed. For the female population between the ages of 16 years and above 2,722 were in labor force, and 51.6% of that population was employed. The occupation of most of the people in Malibu city is that 57.6% are practicing their profession, into management, and sales and office occupations. Some are into educational, health and social services. Others are into insurance real estate, rental and leasing, and accommodation and food services. The employment status of family members in Malibu is that 73.8% of the husbands are in armed forces or employed. And the percentage of the wives that were also employed was 41.1% A good 55.9% of these workers are actually working full-time in 1999.
While there were a total of 3,249 families that fall below the poverty level. Out of that total number 1,402 families had children less than 18 years of age. And 497 families had children below 5 years old.
Some families were also receiving social security income in 1999 or 1.1% for those that fall below the poverty level. While there are families with female house holder and no husband present, and had children that are under 18 years of age, their poverty status in all income levels was 6.2% which fall below the poverty level. And for householders that worked full-time, year-round In 1999, 6.5% of those fall below the poverty level. While there were some female householder, with no husband present that worked full-time, year-round in 1999 with a total of 16.8% some also didn't work in 1999 or a total 52.7% which was definitely higher, compared to those that worked way back in 1999.
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Additional statistical data for the area is presented below: Please note: differences between the above and below values are related to differing sources, though the ranges are considered to be quite reliable.