NOT LISTED FOR SALE

1183 Olive Tree Ln Hemet, CA 92543

Estimated Value: $382,690 - $504,000

4 Beds
4 Baths
2,108 Sq Ft
$215/Sq Ft Est. Value

Last Sold August 06, 2014

Last sale price $186,000 $88 Per Sq Ft

Est. 143% increase in value since last sale

Current estimated payment $2,612/month

60 Days on Market

About This Home

As of August 2014

This is a rare duplex investment opportunity. Each unit has all the comforts of a first class single family residence. This complex totals a roomy 2,108 square feet or 1,054 square feet per each unit! Each unit has a master bath with the master bedroom. Breakfast bar with dishwasher. Forced heating and air. Private backyard for each unit. Laundry hookups. Each unit has its own private two car garage! Month to month rents are at least $200 per month per unit under fair market rent. On top of that, this 2 bedroom 2 bath/each unit duplex is priced at the best buy in the market. See Supplements for Site Plan & Aerial. Also, please see comparable duplex sale on same street (attached in Supplements), almost next door for almost $50k more!

Last Agent to Sell the Property

Tony Burton

Burton Commercial, Inc. License #01014173 Listed on: 04/13/2014

Last Buyer's Agent

Stephanie Batzel

Elevate Real Estate Agency License #01874101

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $2,566

Year Built

  • Built in 1972

Lot Details

  • 6,970 Sq Ft Lot
  • 1 Common Wall
  • Density is 11-15 Units/Acre

Parking

  • 4 Car Garage

Home Design

  • 2,108 Sq Ft Home
  • Property Attached

Bedrooms and Bathrooms

  • 4 Bedrooms
  • 4 Bathrooms

Outdoor Features

  • Exterior Lighting
  • Rain Gutters

Listing and Financial Details

  • Tax Lot 17
  • Tax Tract Number 2962
  • Assessor Parcel Number 447173027

Community Details

Overview

  • 2 Units

Building Details

  • 2 Separate Electric Meters
  • 2 Separate Gas Meters
  • 1 Separate Water Meter
  • Gross Income $1,325
  • Net Operating Income $9,819

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$2,566

Year Built

Built in 1972

Lot Details

0

Parking

4

Listing Details

  • Property Attached: Yes
  • Property Type: Residential Income
  • Parcel Number: 447173027
  • Year Built: 1972
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: 1 Common Wall
  • Levels: One
  • Price Per Square Foot: 88.24

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 4.00
  • Total Parking Spaces: 8.00

Utilities

  • Utilities: Sewer Connected
  • Water Source: Public

Condo/Co-op/Association

  • Community Features: Curbs, Gutters, Sidewalks, Street Lights

Lot Info

  • Lot Features: 11-15 Units/Acre
  • Lot Size Sq Ft: 6970.00
  • Lot Size Acres: 0.1600

Multi Family

  • Gross Income: 1325.00
  • Gross Scheduled Income: 15900.00
  • Lot Size Area: 6970.0000 Square Feet
  • Net Operating Income: 9819.00
  • Number Of Separate Electric Meters: 2
  • Number Of Separate Gas Meters: 2
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 2
  • Operating Expense: 5286.00
  • Rent Control: No
  • Vacancy Allowance Rate: 5.00

Tax Info

  • Tax Lot: 17
  • Tax Tract Number: 2962
  • Tax Year: 2013

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
May 7, 2020
Sold by
Guss Todd T
Bought by
Guss Todd T
Current Estimated Value
$452,423

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$169,000
Outstanding Balance
$149,757
Interest Rate
3.3%
Mortgage Type
New Conventional
Estimated Equity
$302,666

Purchase Details

Closed on
Jun 2, 2014
Sold by
Harness Kirby L and Lewallen Cynthia T
Bought by
Guss Todd T

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$93,000
Interest Rate
4.12%
Mortgage Type
Commercial

Purchase Details

Closed on
Nov 6, 2003
Sold by
Harness Kirby L and Lewallen Cynthia T
Bought by
Harness Kirby L and Lewallen Cynthia T

Purchase Details

Closed on
Jul 2, 2003
Sold by
Dunmoyer Tonnie R
Bought by
Harness Kirby L and Lewallen Cynthia T

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$153,600
Interest Rate
5.18%
Mortgage Type
Commercial

Purchase Details

Closed on
May 15, 1998
Sold by
Curt Dunmoyer C and Dunmoyer Tonnie R
Bought by
Dunmoyer C Curt and Dunmoyer Tonnie R
Source: Public Records

Range of Values:

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Average Value
Not Available
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
Guss Todd T -- North American Title
Guss Todd T -- North American Title
Guss Todd T $186,000 Pacific Coast Title
Harness Kirby L -- --
Harness Kirby L $192,000 Chicago Title Co
Dunmoyer C Curt -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Guss Todd T $169,000
Previous Owner Guss Todd T $93,000
Previous Owner Harness Kirby L $153,600
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
08/06/2014 08/06/14 Sold $186,000 -3.1% $88 / Sq Ft
05/29/2014 05/29/14 Pending -- -- --
03/30/2014 03/30/14 For Sale $192,000 -- $91 / 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 $2,566 $223,534 $42,059 $181,475
2023 $2,566 $214,856 $40,427 $174,429
2022 $2,487 $210,644 $39,635 $171,009
2021 $2,447 $206,514 $38,858 $167,656
2020 $2,428 $204,397 $38,460 $165,937
2019 $2,376 $200,390 $37,706 $162,684
2018 $2,305 $196,462 $36,967 $159,495
2017 $2,278 $192,611 $36,243 $156,368
2016 $2,261 $188,835 $35,533 $153,302
2015 $2,268 $186,000 $35,000 $151,000
2014 $2,622 $222,675 $40,588 $182,087
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: SW14064349

California Regional Multiple Listing Service (CRMLS)

APN: 447-173-027