1023 Herald St Redlands, CA 92374
North Redlands Neighborhood
2
Beds
4
Baths
1,641
Sq Ft
6,521
Sq Ft Lot
Highlights
- Lawn
- Cooling System Mounted To A Wall/Window
- Accessible Parking
- Redlands East Valley High School Rated A-
- Laundry Room
- Central Heating
About This Home
As of December 2020Perfect multi-family property for an investor or house hacker looking to maximize their rental potential. Would make the perfect owner occupied property. House hack your way to financial freedom through the power of real estate! This 4-unit property has been completely remodeled with new exterior and interior paint, updated flooring, upgraded kitchens, new appliances, renovated bathrooms, and so much more! Rental income is based on only 3 units. Potential rent for 4th unit is $1,200 per month. Total gross proforma rents per year are $55,299 upon full occupancy. (Approx 6% CAP with factoring in vacancy and 30% expenses.) MOTIVATED SELLER! Property can go FHA!
Last Agent to Sell the Property
KELLER WILLIAMS RIVERSIDE CENT License #02021574 Listed on: 07/20/2020
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $7,230
Year Built
- Built in 1917
Lot Details
- 6,521 Sq Ft Lot
- Two or More Common Walls
- Chain Link Fence
- Rectangular Lot
- Lawn
- Front Yard
Home Design
- Property Attached
- Composition Roof
- Stucco
Interior Spaces
- 1,641 Sq Ft Home
- 1-Story Property
- Laminate Flooring
Kitchen
- Gas Oven
- Range Hood
Bedrooms and Bathrooms
- 2 Bedrooms
- 4 Bathrooms
Laundry
- Laundry Room
- Washer and Gas Dryer Hookup
Utilities
- Cooling System Mounted To A Wall/Window
- Central Heating
- Natural Gas Connected
- Water Heater
Additional Features
- Accessible Parking
- Urban Location
Listing and Financial Details
- Tenant pays for electricity, gas
- Legal Lot and Block 2 / 6
- Tax Tract Number 93093
- Assessor Parcel Number 0169081090000
Community Details
Overview
- 2 Buildings
- 4 Units
Recreation
- Bike Trail
Building Details
- 4 Separate Electric Meters
- 4 Separate Gas Meters
- 1 Separate Water Meter
- Insurance Expense $100
- Trash Expense $100
- Water Sewer Expense $200
- Operating Expense $400
- Gross Income $40,800
- Net Operating Income $36,000
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Closed on
Jul 21, 2021
Sold by
Patel Bimal
Bought by
Patel Bimal V and The Patel Family Trust
Current Estimated Value
Purchase Details
Listed on
Dec 18, 2020
Closed on
Nov 24, 2020
Sold by
Patel Shefali
Bought by
Patel Bimal
Seller's Agent
Casey Overholt
ALLIED PACIFIC PROPERTY MGMT.
Buyer's Agent
Casey Overholt
ALLIED PACIFIC PROPERTY MGMT.
Sold Price
$1,275
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
9.34%
Original Mortgage
$427,500
Interest Rate
2.8%
Mortgage Type
New Conventional
Purchase Details
Listed on
Jul 20, 2020
Closed on
Oct 13, 2020
Sold by
Javed Samad
Bought by
Patel Bimal
Seller's Agent
TYLER HUNGERFORD
KELLER WILLIAMS RIVERSIDE CENT
Buyer's Agent
Prashant Sampat
Pacific Avenue Realty
List Price
$650,000
Sold Price
$570,000
Premium/Discount to List
-$80,000
-12.31%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$427,500
Interest Rate
2.8%
Mortgage Type
New Conventional
Purchase Details
Listed on
Jun 16, 2019
Closed on
Jul 29, 2019
Sold by
Stevens Nathaniel O and Stevens Betty A
Bought by
Javed Samad
Seller's Agent
Ramiro Quezada
Real Broker
Buyer's Agent
George Cardenas
Elevate Real Estate Agency
List Price
$479,990
Sold Price
$435,000
Premium/Discount to List
-$44,990
-9.37%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
24.58%
Original Mortgage
$427,121
Interest Rate
3.75%
Mortgage Type
FHA
Purchase Details
Closed on
May 12, 2005
Sold by
Hinckley Bruce C
Bought by
Stevens Nathaniel O and Stevens Betty A
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$378,000
Interest Rate
7.1%
Mortgage Type
Balloon
Similar Homes in Redlands, CA
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Interfamily Deed Transfer | -- | None Available | |
| Interfamily Deed Transfer | -- | Fidelity National Title | |
| Grant Deed | $570,000 | Fidelity National Title | |
| Grant Deed | $435,000 | Usa National Title | |
| Personal Reps Deed | $420,000 | Investors Title Co San Bern |
Source: Public Records
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Previous Owner | $427,500 | New Conventional | |
| Previous Owner | $427,121 | FHA | |
| Previous Owner | $378,000 | Balloon |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 11/01/2021 11/01/21 | Rented | $1,200 | 0.0% | -- |
| 10/25/2021 10/25/21 | Price Changed | $1,200 | -4.0% | $2 / Sq Ft |
| 10/14/2021 10/14/21 | Price Changed | $1,250 | -3.5% | $2 / Sq Ft |
| 09/28/2021 09/28/21 | For Rent | $1,295 | +1.6% | -- |
| 02/12/2021 02/12/21 | Rented | $1,275 | -3.8% | -- |
| 01/29/2021 01/29/21 | For Rent | $1,325 | +3.9% | -- |
| 12/30/2020 12/30/20 | Rented | $1,275 | 0.0% | -- |
| 12/18/2020 12/18/20 | For Rent | $1,275 | 0.0% | -- |
| 12/11/2020 12/11/20 | Sold | $570,000 | -2.6% | $347 / Sq Ft |
| 10/02/2020 10/02/20 | Pending | -- | -- | -- |
| 09/23/2020 09/23/20 | Price Changed | $585,000 | -4.9% | $356 / Sq Ft |
| 09/05/2020 09/05/20 | Price Changed | $615,000 | -1.6% | $375 / Sq Ft |
| 08/24/2020 08/24/20 | Price Changed | $625,000 | -3.8% | $381 / Sq Ft |
| 07/20/2020 07/20/20 | For Sale | $650,000 | +49.4% | $396 / Sq Ft |
| 09/20/2019 09/20/19 | Sold | $435,000 | -9.4% | $265 / Sq Ft |
| 07/12/2019 07/12/19 | For Sale | $479,990 | 0.0% | $292 / Sq Ft |
| 06/24/2019 06/24/19 | Pending | -- | -- | -- |
| 06/16/2019 06/16/19 | For Sale | $479,990 | -- | $292 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History Compared to Growth
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 | $7,230 | $616,986 | $108,243 | $508,743 |
| 2024 | $7,230 | $604,889 | $106,121 | $498,768 |
| 2023 | $7,222 | $593,028 | $104,040 | $488,988 |
| 2022 | $7,118 | $581,400 | $102,000 | $479,400 |
| 2021 | $7,247 | $439,507 | $101,036 | $338,471 |
| 2020 | $5,534 | $435,000 | $100,000 | $335,000 |
| 2019 | $6,467 | $514,530 | $98,007 | $416,523 |
| 2018 | $6,307 | $504,441 | $96,085 | $408,356 |
| 2017 | $6,255 | $494,550 | $94,201 | $400,349 |
| 2016 | $6,185 | $484,853 | $92,354 | $392,499 |
| 2015 | $6,140 | $477,570 | $90,967 | $386,603 |
| 2014 | $6,030 | $468,215 | $89,185 | $379,030 |
Source: Public Records
Agents Affiliated with this Home
-
Casey Overholt
C
Seller's Agent in 2021
Casey Overholt
ALLIED PACIFIC PROPERTY MGMT.
(909) 794-8248
1 in this area
2 Total Sales
-
TYLER HUNGERFORD
Seller's Agent in 2020
TYLER HUNGERFORD
KELLER WILLIAMS RIVERSIDE CENT
(951) 660-5981
2 in this area
134 Total Sales
-
Prashant Sampat
Buyer's Agent in 2020
Prashant Sampat
Pacific Avenue Realty
(562) 841-0227
5 in this area
219 Total Sales
-
R
Seller's Agent in 2019
Ramiro Quezada
Real Broker
-
George Cardenas
Buyer's Agent in 2019
George Cardenas
Elevate Real Estate Agency
(562) 413-4431
95 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: IV20143935
APN: 0169-081-09
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
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
Nearby Homes
- 1120 Herald St
- 1125 6th St
- 225 E Western Ave
- 821 Lombard Dr
- 610 E Lugonia Ave Unit 4
- 700 E Lugonia Ave
- 903 Ohio St
- 214 E High Ave
- 1317 Clay St
- 623 Church Place Unit 3
- 1231 Webster St
- 316 W Lugonia Ave
- 605 Ruiz St
- 601 Ruiz St
- 527 Ruiz St
- 1509 Lassen St
- 938 E Lugonia Ave
- 1024 Lawton St
- 918 Lawton St
- 909 Stillman Ave