NOT LISTED FOR SALE

9241 Wheeler Ct Fontana, CA 92335

Estimated Value: $816,000 - $1,268,493

6 Beds
5 Baths
2,792 Sq Ft
$368/Sq Ft Est. Value

Last Sold January 20, 2012

Last sale price $342,500 $123 Per Sq Ft

Est. 200% increase in value since last sale

Current estimated payment $5,850/month

56 Days on Market

Highlights

  • No HOA
  • Fireplace
  • Laundry Room
  • Cul-De-Sac
  • Views
  • Tile Flooring

About This Home

As of January 2012

*** PRIDE OF OWNERSHIP *** This is probably one of the best looking & well-maintained investment properties your buyer may have ever seen. The seller have upgraded this apartment building, both inside & out, to create an Oasis, where tenants feels at home & take pride in living there. Over $95,000 in interior renovation were just spent. MUST SEE! Everything in the apartment is new & hi-end: New white appliances, hi-end carpets & flooring, lighting fixtures, counters & cabinets, drawers & closets. New roof, new water heaters & A/C systems. The grounds are manicured, fences is painted & repaired, etc, etc. Laundry room has new, coin-operated washer & dryer, which are included in the sale. This is an investment for a buyer who likes to own well-maintained properties & to have happy tenants. "Owner's" unit has 3 bedroom 2 bath, top 3 units are 1/1 each. All rents are below what they should be.

Last Agent to Sell the Property

Robert Castro

UNITED REALTY GROUP License #01359397 Listed on: 11/18/2011

Last Buyer's Agent

Janet Fraser

Matt Luke Home Team R.E., Inc. License #00971577

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $5,711

Year Built

  • Built in 1978 | Remodeled

Lot Details

  • 8,100 Sq Ft Lot
  • No Common Walls
  • Cul-De-Sac
  • Landscaped

Parking

  • 3 Car Garage
  • Parking Available

Home Design

  • Turnkey
  • Frame Construction
  • Stucco

Interior Spaces

  • 2,792 Sq Ft Home
  • Ceiling Fan
  • Fireplace
  • Custom Window Coverings
  • Fire and Smoke Detector
  • Laundry Room
  • Property Views

Kitchen

  • Microwave
  • Dishwasher
  • Disposal

Flooring

  • Carpet
  • Tile

Bedrooms and Bathrooms

  • 6 Bedrooms
  • 5 Bathrooms

Utilities

  • Forced Air Heating and Cooling System

Listing and Financial Details

  • Tenant pays for cable TV, electricity, gas
  • Tax Lot 6
  • Tax Tract Number 7096
  • Assessor Parcel Number 0194032150000

Community Details

Overview

  • No Home Owners Association
  • 4 Units

Building Details

  • 4 Leased Units
  • 5 Separate Electric Meters
  • 5 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $494
  • Gardener Expense $1,200
  • Insurance Expense $1,396
  • Maintenance Expense $500
  • Trash Expense $580
  • Water Sewer Expense $2,010
  • New Taxes Expense $3,290
  • Gross Income $3,595
  • Net Operating Income $31,763

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$5,711

Year Built

Built in 1978 | Remodeled

Lot Details

0

Parking

3

Listing Details

  • CapRate: 7.90
  • Security: Smoke Detector(s)
  • View: Yes
  • Water Sewer Expenses: 2010.00
  • Property Condition: Updated/Remodeled, Turnkey
  • Property Type: Residential Income
  • Gardener Expense: 1200.00
  • Parcel Number: 0194032150000
  • Year Built: 1978
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: Yes
  • Interior Amenities: Ceiling Fan(s)
  • Common Walls: No Common Walls
  • Flooring: Carpet, Tile
  • Appliances: Yes
  • Levels: Two
  • Price Per Square Foot: 122.67
  • Window Features: Custom Covering

Exterior Features

  • Pool Private: No
  • Spa: No
  • Construction Materials: Frame, Stucco

Garage/Parking

  • Garage Spaces: 3.00
  • Parking: Yes
  • Total Parking Spaces: 11.00

Utilities

  • Heating: Yes
  • Laundry: Yes
  • Appliances: Dishwasher, Disposal, Microwave
  • Heating Type: Forced Air
  • Laundry Features: Individual Room
  • Trash Expense: 580.00
  • Water Source: Public
  • Cooling: Central Air
  • Cooling: Yes

Condo/Co-op/Association

  • Association: No
  • Senior Community: No

Lot Info

  • Lot Features: Cul-De-Sac, Landscaped
  • Lot Size Sq Ft: 8100.00
  • Lot Size Acres: 0.1900

Rental Info

  • Tenant Pays: Cable TV, Electricity, Gas

Multi Family

  • Electric Expense: 494.00
  • Gross Income: 3595.00
  • Gross Multiplier: 9.25
  • Gross Scheduled Income: 43140.00
  • Gross Spendable Income: 7333.00
  • Insurance Expense: 1396.00
  • Laundry Equipment Own Lease: Own
  • Lot Size Area: 8100.0000 Square Feet
  • Maintenance Expense: 500.00
  • Net Operating Income: 31763.00
  • Number Of Separate Electric Meters: 5
  • Number Of Separate Gas Meters: 5
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 4
  • Number Of Units Total: 4
  • Operating Expense: 10083.00
  • Operating Expense Percent: 24.10
  • Rent Control: No
  • Total Actual Rent: 3400.00
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 3290.00
  • Tax Lot: 6
  • Tax Tract Number: 7096
  • Tax Year: 2010

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Nov 23, 2012
Sold by
Jenkins Daniel and Jenkins Sandee
Bought by
Systems Engineering Associates Llc
Current Estimated Value
$1,026,873

Purchase Details

Listed on
Nov 18, 2011
Closed on
Dec 6, 2011
Sold by
Landrum Nancy I
Bought by
Jenkins Daniel and Jenkins Sandee
Seller's Agent
Robert Castro
UNITED REALTY GROUP
Buyer's Agent
Janet Fraser
Matt Luke Home Team R.E., Inc.
List Price
$399,000
Sold Price
$342,500
Premium/Discount to List
-$56,500
-14.16%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
8.29%
Original Mortgage
$225,000
Interest Rate
3.93%
Mortgage Type
New Conventional

Purchase Details

Closed on
Dec 21, 2007
Sold by
Landrum Nancy I
Bought by
Landrum Nancy I

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$268,000
Interest Rate
6.15%
Mortgage Type
New Conventional

Purchase Details

Closed on
Nov 6, 2007
Sold by
Ascher David S
Bought by
Landrum Nancy I and The James L & Nancy I Landrum

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$268,000
Interest Rate
6.15%
Mortgage Type
New Conventional

Purchase Details

Closed on
Apr 21, 1998
Sold by
Hud
Bought by
Ascher David S

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$175,801
Interest Rate
7.07%
Mortgage Type
FHA

Purchase Details

Closed on
Jan 30, 1997
Sold by
Felix Joaquin and Felix Marcos
Bought by
Countrywide Home Loans Inc

Purchase Details

Closed on
Jan 3, 1997
Sold by
Countrywide Home Loans Inc
Bought by
Hud

Purchase Details

Closed on
Mar 18, 1996
Sold by
Felix Marcos and Felix Adela
Bought by
Felix Joaquin

Purchase Details

Closed on
May 2, 1995
Sold by
Urabe June and Jablon Dianne
Bought by
Felix Joaquin and Felix Marcos

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$145,435
Interest Rate
8.32%
Mortgage Type
FHA
Source: Public Records

Range of Values:

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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
Systems Engineering Associates Llc -- Oak Hills Land Title Agency
Jenkins Daniel $375,000 Orange Coast Title Co
Landrum Nancy I -- None Available
Landrum Nancy I $139,069 None Available
Ascher David S $177,500 Chicago Title Insurance Co
Countrywide Home Loans Inc $158,810 Landsafe Title
Hud -- Landsafe Title
Felix Joaquin -- --
Felix Joaquin $148,000 Old Republic Title Co
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Jenkins Daniel $225,000
Previous Owner Landrum Nancy I $268,000
Previous Owner Ascher David S $175,801
Previous Owner Felix Joaquin $145,435
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
01/20/2012 01/20/12 Sold $342,500 -14.2% $123 / Sq Ft
01/13/2012 01/13/12 Pending -- -- --
11/18/2011 11/18/11 For Sale $399,000 -- $143 / 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 $5,711 $416,225 $61,571 $354,654
2024 $5,711 $408,064 $60,364 $347,700
2023 $5,492 $400,062 $59,180 $340,882
2022 $5,424 $392,218 $58,020 $334,198
2021 $5,350 $384,527 $56,882 $327,645
2020 $5,361 $380,584 $56,299 $324,285
2019 $5,173 $373,121 $55,195 $317,926
2018 $5,167 $365,805 $54,113 $311,692
2017 $5,057 $358,632 $53,052 $305,580
2016 $4,905 $351,600 $52,012 $299,588
2015 $4,799 $346,319 $51,231 $295,088
2014 $4,765 $339,535 $50,227 $289,308
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: I11150663

California Regional Multiple Listing Service (CRMLS)

APN: 0194-032-15