NOT LISTED FOR SALE

1186 Fountain St Riverside, CA 92507

Highgrove Neighborhood

Estimated Value: $765,621 - $1,051,000

2 Beds
1 Bath
2,400 Sq Ft
$363/Sq Ft Est. Value

Last Sold July 20, 2017

Last sale price $450,000 $188 Per Sq Ft

Est. 83% increase in value since last sale

Current estimated payment $4,987/month

19 Days on Market

Highlights

  • Traditional Architecture
  • Cooling System Mounted To A Wall/Window
  • Laundry Room
  • No HOA
  • Living Room
  • Accessible Parking

About This Home

As of July 2017

"BACK ON THE MARKET" GREAT LOCATION NEAR I-215 Frwy. Well Established Long Term Tenants. Low Maintenance In Very Good Condition. Each Unit Metered For Gas&Elect. A WONDERFUL OPPORTUNITY FOR THE FIRST TIME INVESTOR TO GENERATE INCOME FROM YOUR INVESTMENT.
THESE UNITS QUALIFY FOR FHA 3.5% DOWN PAYMENT. PERFECT FOR THE INVESTOR WHO WOULD MOVE IN ONE UNIT AND COLLECT RENT ON THE OTHER UNITS. APARTMENT INVESTMENTS ARE THE NEW WAVE FOR THE SAVVY INVESTOR AND AT ENTRY LEVEL PRICING.

Last Agent to Sell the Property

Robert Meadows

METRO ONE PREMIER REALTY License #01395359 Listed on: 05/15/2017

Last Buyer's Agent

Christopher Dumayas

MZ BROKERAGE INC. License #01954052

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $5,639

Year Built

  • Built in 1962

Lot Details

  • 8,050 Sq Ft Lot
  • Two or More Common Walls
  • No Landscaping
  • Paved or Partially Paved Lot

Home Design

  • Traditional Architecture
  • Apartment
  • Turnkey
  • Slab Foundation
  • Fire Rated Drywall
  • Composition Roof

Interior Spaces

  • 2,400 Sq Ft Home
  • 2-Story Property
  • Ceiling Fan
  • Living Room
  • Tile Flooring
  • Fire and Smoke Detector
  • Laundry Room

Kitchen

  • Gas Cooktop
  • Formica Countertops

Bedrooms and Bathrooms

  • 2 Bedrooms
  • 1 Bathroom

Parking

  • Parking Available
  • Unassigned Parking

Utilities

  • Cooling System Mounted To A Wall/Window
  • Heating System Uses Natural Gas
  • Wall Furnace
  • Natural Gas Connected
  • Conventional Septic
  • TV Antenna

Additional Features

  • Accessible Parking
  • Suburban Location

Listing and Financial Details

  • Tenant pays for cable TV, electricity, gas, telephone
  • Tax Lot 3
  • Tax Tract Number 423
  • Assessor Parcel Number 247091047

Community Details

Overview

  • No Home Owners Association
  • 4 Units

Amenities

  • Laundry Facilities

Building Details

  • 4 Leased Units
  • 75 Separate Electric Meters
  • 30 Separate Gas Meters
  • Electric Expense $75
  • Insurance Expense $200,256
  • Trash Expense $100
  • Water Sewer Expense $80
  • New Taxes Expense $2,565
  • Operating Expense $3
  • Gross Income $36,000
  • Net Operating Income $10,995

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$5,639

Year Built

Built in 1962

Lot Details

0

Listing Details

  • Assessments: Yes
  • Property Attached: Yes
  • Road Frontage Type: City Street
  • Road Surface Type: Paved
  • Security: Smoke Detector(s)
  • View: No
  • Water Sewer Expenses: 80.00
  • Zoning: R-2
  • Architectural Style: Traditional
  • Property Condition: Turnkey
  • Property Sub Type: Apartment
  • Property Type: Residential Income
  • Parcel Number: 247091047
  • Year Built: 1962
  • Special Features: None

Interior Features

  • Interior Amenities: Ceiling Fan(s), Formica Counters, Unfurnished
  • Stories: 2
  • Entry Location: Street
  • Common Walls: 2+ Common Walls
  • Flooring: Tile
  • Accessibility Features: Parking
  • Appliances: Yes
  • Levels: Two
  • Price Per Square Foot: 187.50
  • Room Type: Kitchen, Living Room

Exterior Features

  • Foundation: Slab
  • Exterior Features: TV Antenna
  • Fence: No
  • Pool Private: No
  • Roof: Composition
  • Spa: No
  • Construction Materials: Drywall Walls

Garage/Parking

  • Parking: Yes
  • Parking Features: Unassigned

Utilities

  • Utilities: Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
  • Heating: Yes
  • Laundry: Yes
  • Appliances: Gas Cooktop
  • Electric: Electricity - On Property
  • Heating Type: Wall Furnace, Natural Gas
  • Laundry Features: Community
  • Sewer: Conventional Septic
  • Trash Expense: 100.00
  • Water Source: Public
  • Cooling: Wall/Window Unit(s)
  • Cooling: Yes

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Suburban

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: No Landscaping, Paved
  • Lot Size Sq Ft: 8050.00

Rental Info

  • Tenant Pays: Cable TV, Electricity, Gas, Telephone

Multi Family

  • Average2 Bed Area: 600 Square Feet
  • Electric Expense: 75.00
  • Gross Income: 36000.00
  • Gross Scheduled Income: 3000.00
  • Insurance Expense: 200256.00
  • Net Operating Income: 10995.00
  • Number Of Separate Electric Meters: 75
  • Number Of Separate Gas Meters: 30
  • Number Of Units Leased: 4
  • Number Of Units Total: 4
  • Operating Expense: 23451.00
  • Rent Control: No
  • Total Expenses: 3.00
  • Vacancy Allowance: 600
  • Vacancy Allowance Rate: 0.25

Tax Info

  • New Taxes Expense: 2565.00
  • Tax Census Tract: 423.00
  • Tax Lot: 3
  • Tax Tract: 247091047
  • Tax Tract Number: 423

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Sep 28, 2021
Sold by
Starlite Mgmt-Ix Lp
Bought by
Flazer 17 Lp
Current Estimated Value
$825,023

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$13,321,500
Outstanding Balance
$12,174,296
Interest Rate
2.8%
Mortgage Type
New Conventional
Estimated Equity
-$11,303,141

Purchase Details

Closed on
Sep 24, 2021
Sold by
Starlite Mgmt Ix Lp
Bought by
Flazer 17 Lp

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$13,321,500
Outstanding Balance
$12,174,296
Interest Rate
2.8%
Mortgage Type
New Conventional
Estimated Equity
-$11,303,141

Purchase Details

Closed on
Apr 24, 2018
Sold by
Starlite Mgmt Ix Lp
Bought by
Starlite Mgmt Ix Lp

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$3,680,000
Interest Rate
4.44%
Mortgage Type
Commercial

Purchase Details

Listed on
May 15, 2017
Closed on
Jun 29, 2017
Sold by
Ni Jinsong and Leng Bing
Bought by
Starlite Mgmt Ix Lp
Seller's Agent
Robert Meadows
METRO ONE PREMIER REALTY
Buyer's Agent
Christopher Dumayas
MZ BROKERAGE INC.
List Price
$450,900
Sold Price
$450,000
Premium/Discount to List
-$900
-0.2%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
8.55%

Purchase Details

Closed on
Oct 2, 2015
Sold by
Ni Jinsong
Bought by
2006 Ni Family Trust

Purchase Details

Closed on
May 30, 2014
Sold by
Leng Bing
Bought by
Ni Jinsong

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$147,500
Interest Rate
3.18%
Mortgage Type
Commercial

Purchase Details

Listed on
May 10, 2011
Closed on
Dec 15, 2011
Sold by
Rivera Teofilo and Rivera Angelica
Bought by
Ni Jinsong and Leng Bing
Seller's Agent
Jose Heredia
Realty One Group West
Buyer's Agent
Jose Heredia
Realty One Group West
List Price
$299,000
Sold Price
$215,000
Premium/Discount to List
-$84,000
-28.09%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
10.92%
Original Mortgage
$150,500
Interest Rate
3.88%
Mortgage Type
Commercial

Purchase Details

Closed on
Apr 10, 2007
Sold by
Rivera Teofilo and Rivera Angelica
Bought by
Rivera Angelica

Purchase Details

Closed on
Jan 10, 2007
Sold by
Ramos Rafael
Bought by
Rivera Teofilo and Rivera Angelica

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$436,000
Interest Rate
2.5%
Mortgage Type
Negative Amortization

Purchase Details

Closed on
Nov 11, 2004
Sold by
Ramos Maria J
Bought by
Ramos Rafael

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$284,000
Interest Rate
5%
Mortgage Type
Commercial

Purchase Details

Closed on
Nov 4, 2004
Sold by
Ramos Manuel and Ramos Elvira R
Bought by
Ramos Rafael

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$284,000
Interest Rate
5%
Mortgage Type
Commercial

Purchase Details

Closed on
Jul 30, 2002
Sold by
Rivera Sergio and Ortiz Veronica
Bought by
Ramos Manuel and Ramos Elvira R

Purchase Details

Closed on
May 25, 1999
Sold by
Jerabek William J and Jerabek Jeri M
Bought by
Rivera Sergio and Ortiz Veronica

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$109,632
Interest Rate
7.05%
Mortgage Type
FHA

Purchase Details

Closed on
Apr 22, 1999
Sold by
Taylor Eva M
Bought by
Jerabek William J and Jerabek Teri M

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$109,632
Interest Rate
7.05%
Mortgage Type
FHA

Purchase Details

Closed on
Apr 6, 1999
Sold by
Taylor Donald Eddy
Bought by
Jerabek William J and Jerabek Teri M

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$109,632
Interest Rate
7.05%
Mortgage Type
FHA

Purchase Details

Closed on
Jan 30, 1995
Sold by
Taylor Don E
Bought by
Taylor Donald Eddy

Purchase Details

Closed on
Sep 12, 1994
Sold by
Taylor Don E and Taylor Eva M
Bought by
Taylor Don E and Taylor Eva M

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$80,000
Interest Rate
8.7%
Mortgage Type
Commercial

Purchase Details

Closed on
Apr 28, 1994
Sold by
Emc Mtg Corp
Bought by
Taylor Don E and Taylor Eva M

Purchase Details

Closed on
Dec 1, 1993
Sold by
Great Western Bank Fsb
Bought by
Emc Mtg Corp

Purchase Details

Closed on
Jul 28, 1993
Sold by
California Reconveyance Co
Bought by
Great Western Bank
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
Flazer 17 Lp -- Orange Coast Title
Flazer 17 Lp -- Orange Coast Title Co
Starlite Mgmt Ix Lp -- Wfg National Title Insurance
Starlite Mgmt Ix Lp $450,000 Orange Coast Title Company O
2006 Ni Family Trust -- None Available
Ni Jinsong -- First American Title Company
Ni Jinsong $215,000 Chicago Title Company
Rivera Angelica -- Accommodation
Rivera Teofilo $545,000 Advantage Title Inc
Ramos Rafael -- Fnt
Ramos Rafael $355,000 Fnt
Ramos Manuel $175,000 Orange Coast Title
Rivera Sergio $110,000 Stewart Title Company
Jerabek William J -- Stewart Title
Jerabek William J -- Stewart Title
Taylor Donald Eddy -- --
Taylor Don E -- Gateway Title Company
Taylor Don E $62,000 Fidelity Title
Emc Mtg Corp $50,000 Fidelity National Title Ins
Great Western Bank $90,914 Chicago Title Company
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Flazer 17 Lp $13,321,500
Closed Flazer 17 Lp $13,321,500
Previous Owner Starlite Mgmt Ix Lp $3,680,000
Previous Owner Starlite Mgmt Ix Lp $3,680,000
Previous Owner Ni Jinsong $147,500
Previous Owner K Hovnanians Four Seasons At Beaumont Ll $577,000,000
Previous Owner Ni Jinsong $150,500
Previous Owner Rivera Teofilo $436,000
Previous Owner Ramos Rafael $284,000
Previous Owner Rivera Sergio $25,000
Previous Owner Rivera Sergio $109,632
Previous Owner Taylor Don E $80,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
07/20/2017 07/20/17 Sold $450,000 -0.2% $188 / Sq Ft
06/03/2017 06/03/17 Pending -- -- --
05/15/2017 05/15/17 For Sale $450,900 +109.7% $188 / Sq Ft
02/10/2012 02/10/12 Sold $215,000 -28.1% $90 / Sq Ft
01/27/2012 01/27/12 Pending -- -- --
05/10/2011 05/10/11 For Sale $299,000 -- $125 / 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 $5,639 $512,017 $182,050 $329,967
2023 $5,639 $492,137 $174,982 $317,155
2022 $5,490 $482,488 $171,551 $310,937
2021 $5,394 $473,029 $168,188 $304,841
2020 $5,353 $468,180 $166,464 $301,716
2019 $5,253 $459,000 $163,200 $295,800
2018 $5,355 $450,000 $160,000 $290,000
2017 $2,736 $232,679 $126,621 $106,058
2016 $2,566 $228,118 $124,139 $103,979
2015 $2,532 $224,693 $122,275 $102,418
2014 $2,510 $220,294 $119,881 $100,413
Source: Public Records

Agents Affiliated with this Home

  • R

    Seller's Agent in 2017

    Robert Meadows

    METRO ONE PREMIER REALTY

    (909) 754-2808

    26 Total Sales

    Section Image

  • C

    Buyer's Agent in 2017

    Christopher Dumayas

    MZ BROKERAGE INC.

    (626) 676-5090

    19 Total Sales

    Section Image

  • J

    Seller's Agent in 2012

    Jose Heredia

    Realty One Group West

    (714) 329-0456

    34 Total Sales

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: IV17108685

California Regional Multiple Listing Service (CRMLS)

APN: 247-091-047

California Riverside County Riverside 92507 Highgrove

1186 Fountain St, Riverside, CA

This home is located at 1186 Fountain St, Riverside, CA 92507 since 15 May 2017 and is currently estimated at $871,155, approximately $362 per square foot. This property was built in 1962. 1186 Fountain St is a home located in Riverside County with nearby schools including Highgrove Elementary School, University Heights Middle School, and John W. North High School.

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.

California Regional Multiple Listing Service (CRMLS) 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

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