Seller's Agent in 2020
Kevin Struve
MARCUS & MILLICHAP
(909) 456-3400
14 Total Sales
1410 Morro Way Lake Elsinore, CA 92530
Lake Edge Neighborhood
3
Beds
2
Baths
12,435
Sq Ft
0.45
Acres
Highlights
- 0.45 Acre Lot
- No HOA
- Laundry Room
- Community Lake
About This Home
As of April 2020The Mountain Ridge Apartments is a 16-unit apartment building located at 1410 Morro Way in the city of Lake Elsinore, CA.
Situated on a 0.45 Acre corner lot, the property is built in 1979 and has an estimated 12,435 rentable square feet. The property has a desirable unit mix 11 two bedroom / one bath units and 5 one bedroom / one bath units. In the past 2 years, 12 of the 16 units have been upgraded with the following: wood vinyl plank flooring & new carpet in the bedrooms, new gas stove & oven with microwave, updated kitchen & bathroom counter tops, new two-tone paint, baseboards and ceiling fans. In addition, each unit has Central A/C & Heat, Individual Water Heater and Copper Plumbing. The units are individually metered for gas & electric and the landlord pays for water, trash and sewer. The common area provides the tenants one large laundry room, 16 enclosed garages and 16 covered spaces. The Mountain Ridge Apartments is located adjacent to the Ortega Highway (State Route 74), connecting Lake Elsinore directly to Orange County. Said property is a rare opportunity to purchase a well-maintained property in a rapidly growing area of the Inland Empire.
Last Agent to Sell the Property
MARCUS & MILLICHAP License #01266441 Listed on: 01/15/2020
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1979
Lot Details
- 0.45 Acre Lot
- Two or More Common Walls
- Density is 26-30 Units/Acre
Parking
- 16 Open Parking Spaces
- 16 Car Garage
- Parking Available
- Assigned Parking
Home Design
- 12,435 Sq Ft Home
- Property Attached
Bedrooms and Bathrooms
- 3 Bedrooms
- 2 Bathrooms
Laundry
- Laundry Room
Listing and Financial Details
- Tenant pays for electricity, gas
- Tax Lot 22
- Tax Tract Number 110481
- Assessor Parcel Number 381331004
Community Details
Overview
- No Home Owners Association
- 16 Units
- Community Lake
- Foothills
Amenities
- Laundry Facilities
Building Details
- 16 Leased Units
- 16 Separate Electric Meters
- 16 Separate Gas Meters
- 1 Separate Water Meter
- Electric Expense $941
- Gardener Expense $1,800
- Insurance Expense $2,550
- Maintenance Expense $11,200
- Other Expense $872
- Pest Control $720
- Professional Management Expense $13,440
- Supplies Expense $500
- Trash Expense $4,238
- Water Sewer Expense $13,749
- New Taxes Expense $30,230
- Operating Expense $80,240
- Gross Income $2,250
- Net Operating Income $156,731
Create a Home Valuation Report for This Property
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 04/16/2020 04/16/20 | Sold | $2,800,000 | -2.6% | $225 / Sq Ft | |
| 02/21/2020 02/21/20 | Pending | -- | -- | -- | |
| 01/15/2020 01/15/20 | For Sale | $2,875,000 | +49.4% | $231 / Sq Ft | |
| 07/13/2017 07/13/17 | Sold | $1,925,000 | -4.5% | $157 / Sq Ft | View Prior Sale |
| 06/14/2017 06/14/17 | Pending | -- | -- | -- | |
| 06/08/2017 06/08/17 | For Sale | $2,015,000 | +49.3% | $164 / Sq Ft | |
| 05/08/2014 05/08/14 | Sold | $1,350,000 | +8.0% | $110 / Sq Ft | View Prior Sale |
| 03/18/2014 03/18/14 | Pending | -- | -- | -- | |
| 02/21/2014 02/21/14 | For Sale | $1,250,000 | -- | $102 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History Compared to Growth
Agents Affiliated with this Home
-
Kevin Struve
-
Brice W. Head, MBA
Buyer's Agent in 2020
Brice W. Head, MBA
CBRE, Inc.
(310) 569-3071
21 Total Sales
-
Bradley Petersen
Seller's Agent in 2017
Bradley Petersen
Pay It Forward Realty
(714) 855-8184
49 Total Sales
-
NoEmail NoEmail
N
Buyer's Agent in 2017
NoEmail NoEmail
NONMEMBER MRML
(646) 541-2551
4 in this area
6,000 Total Sales
-
Albert Le
Seller's Agent in 2014
Albert Le
LE INVESTMENT GROUP
(909) 256-7889
26 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: CV20011000
APN: 381-331-004
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
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