NOT LISTED FOR SALE
8 Beds
6 Baths
12,800 Sq Ft
15,246 Sq Ft

Last Sold September 11, 2018

Last sale price $2,295,000 $179 Per Sq Ft

25 Days on Market

Highlights

  • No Units Above
  • Cooling System Mounted To A Wall/Window
  • 4 Attached Carport Spaces
  • 15,246 Sq Ft lot
  • Laundry Room
  • Wall Furnace

About This Home

As of September 2018

-Less than 1.25 Miles to UC Riverside Campus
-Adjacent to Desirable Canyon Crest Neighborhood
-Majority Spacious 2BR & 3BR Units
-Substantial Rental Upside
-Garages & Attractive Garden Area
-New Roof & Landscaping

Last Agent to Sell the Property

Peter Gillin

Morgan Skenderian License #01433769 Listed on: 08/06/2018

Last Buyer's Agent

Peter Gillin

Morgan Skenderian License #01433769 Listed on: 08/06/2018

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1965

Lot Details

  • 0.35 Acre Lot
  • No Units Above
  • No Units Located Below
  • Two or More Common Walls
  • Density is 16-20 Units/Acre
  • 221162018, 221162019

Parking

  • 4 Open Parking Spaces
  • 16 Car Garage
  • 4 Attached Carport Spaces
  • Parking Available

Home Design

  • Property Attached

Interior Spaces

  • 12,800 Sq Ft Home
  • 2-Story Property
  • Laundry Room

Kitchen

  • Gas Oven
  • Gas Range
  • Dishwasher

Bedrooms and Bathrooms

  • 8 Bedrooms
  • 6 Bathrooms

Utilities

  • Cooling System Mounted To A Wall/Window
  • Wall Furnace
  • Cable TV Available

Additional Features

  • Exterior Lighting
  • Suburban Location

Listing and Financial Details

  • Tenant pays for cable TV, electricity, telephone
  • Tax Lot 062
  • Tax Tract Number 18
  • Assessor Parcel Number 221162020

Community Details

Overview

  • 4 Buildings
  • 16 Units

Amenities

  • Laundry Facilities

Building Details

  • 16 Leased Units
  • 16 Separate Electric Meters
  • 16 Separate Gas Meters
  • Gardener Expense $3,500
  • Insurance Expense $2,712
  • Maintenance Expense $13,469
  • Professional Management Expense $4,800
  • Water Sewer Expense $8,822
  • New Taxes Expense $25,717
  • Operating Expense $61,045
  • Gross Income $192,400
  • Net Operating Income $125,602

Property Details

Home Type

Multi-Family

Year Built

Built in 1965

Lot Details

0.35 Acres

Parking

16

Listing Details

  • Assessments: Yes
  • CapRate: 5.50
  • Professional Management Expense: 4800.00
  • Property Attached: Yes
  • View: No
  • Water Sewer Expenses: 8822.00
  • Zoning: R3
  • Property Type: Residential Income
  • Gardener Expense: 3500.00
  • Parcel Number: 221162020
  • Year Built: 1965
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Stories: 2
  • Common Walls: 2+ Common Walls, No One Above, No One Below
  • Appliances: Yes
  • Levels: Two
  • Price Per Square Foot: 179.30

Exterior Features

  • Pool Private: No
  • Spa: No

Garage/Parking

  • Carport Spaces: 4.00
  • Garage Spaces: 16.00
  • Parking: Yes
  • Parking Features: Attached Carport
  • Total Parking Spaces: 24.00
  • Uncovered Spaces: 4.00

Utilities

  • Utilities: Cable Available
  • Heating: Yes
  • Laundry: Yes
  • Appliances: Dishwasher, Gas Oven, Gas Range
  • Heating Type: Wall Furnace
  • Laundry Features: Community
  • Sewer: Public Sewer
  • Water Source: Public
  • Cooling: Wall/Window Unit(s)
  • Cooling: Yes

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Curbs, Sidewalks, Street Lights, Suburban

Lot Info

  • Additional Parcels: Yes
  • Additional Parcels Description: 221162018, 221162019
  • Land Lease: No
  • Lot Features: 16-20 Units/Acre
  • Lot Size Sq Ft: 15246.00

Rental Info

  • Tenant Pays: Cable TV, Electricity, Telephone

Multi Family

  • Gross Income: 192400.00
  • Gross Multiplier: 11.93
  • Gross Operating Income: 186647.00
  • Gross Scheduled Income: 192400.00
  • Insurance Expense: 2712.00
  • Maintenance Expense: 13469.00
  • Maintenance Percent: 7.00
  • Net Operating Income: 125602.00
  • Number Of Separate Electric Meters: 16
  • Number Of Separate Gas Meters: 16
  • Number Of Units Leased: 16
  • Number Of Units Total: 16
  • Number With Dishwasher: 16
  • Number With Range: 16
  • Operating Expense: 61045.00
  • Operating Expense Percent: 31.70
  • Rent Control: No
  • Total Actual Rent: 15785.00
  • Total Expenses: 61045.00
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 25717.00
  • Tax Census Tract: 305.01
  • Tax Lot: 062
  • Tax Tract Number: 018
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
09/11/2018 09/11/18 Sold $2,295,000 0.0% $179 / Sq Ft
09/04/2018 09/04/18 Price Changed $2,295,000 0.0% $179 / Sq Ft
09/04/2018 09/04/18 For Sale $2,295,000 -2.3% $179 / Sq Ft
09/04/2018 09/04/18 Price Changed $2,350,000 +2.4% $184 / Sq Ft
08/31/2018 08/31/18 Pending -- -- --
08/06/2018 08/06/18 For Sale $2,295,000 +20.8% $179 / Sq Ft
09/22/2015 09/22/15 Sold $1,900,000 -5.0% $148 / Sq Ft View Prior Sale
07/19/2015 07/19/15 Pending -- -- --
06/11/2015 06/11/15 For Sale $1,999,950 -- $156 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

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 $14,072 $1,282,841 $278,876 $1,003,965
2023 $14,072 $1,233,029 $268,048 $964,981
2022 $13,756 $1,208,853 $262,793 $946,060
2021 $13,544 $1,185,151 $257,641 $927,510
2020 $13,443 $1,173,000 $255,000 $918,000
2019 $13,192 $1,150,000 $250,000 $900,000
2018 $10,799 $936,360 $208,080 $728,280
2017 $10,609 $918,000 $204,000 $714,000
2016 $9,936 $900,000 $200,000 $700,000
2015 $4,959 $434,139 $98,754 $335,385
2014 $4,911 $425,636 $96,820 $328,816
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW18189948

California Regional Multiple Listing Service (CRMLS)

APN: 221-162-020

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