NOT LISTED FOR SALE

1865 E Devonshire Ave Hemet, CA 92544

Estimated Value: $774,000 - $1,156,306

2 Beds
2 Baths
4,400 Sq Ft
$207/Sq Ft Est. Value

Last Sold August 21, 2015

Last sale price $440,000 $100 Per Sq Ft

Est. 107% increase in value since last sale

Current estimated payment $5,236/month

134 Days on Market

Highlights

  • No Units Above
  • Laundry Room
  • 8 Attached Carport Spaces
  • Cooling System Mounted To A Wall/Window
  • Shed
  • Wall Furnace

About This Home

As of August 2015

Unique 8 unit property!! Well maintained, FULLY OCCUPIED 1 bedroom, 1 bath units. Great curb appeal with freshly painted exterior and large lot. Property consists of two buildings with courtyard/walkway area in between. Each unit has separate utility meters, private patio area and individual washer hookup off of kitchen. One carport space for each unit with ample street parking. Common grassy area in back. PLEASE DO NOT DISTURB TENANTS!

Last Agent to Sell the Property

Dana Anderson

Kimmell-Anderson Property Mng. License #00998181 Listed on: 07/13/2015

Last Buyer's Agent

David Covarrubias

MARCUS & MILLICHAP

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1963

Lot Details

  • 0.3 Acre Lot
  • No Units Above
  • Two or More Common Walls

Home Design

  • 4,400 Sq Ft Home
  • Property Attached

Bedrooms and Bathrooms

  • 2 Bedrooms
  • 2 Bathrooms

Laundry

  • Laundry Room
  • Laundry in Kitchen

Parking

  • 8 Parking Spaces
  • 8 Attached Carport Spaces
  • Parking Available
  • Assigned Parking

Utilities

  • Cooling System Mounted To A Wall/Window
  • Wall Furnace
  • Septic Type Unknown

Additional Features

  • Gas Range
  • Shed

Listing and Financial Details

  • Tenant pays for cable TV, electricity, gas
  • Tax Lot 2
  • Assessor Parcel Number 445202025

Community Details

Overview

  • 2 Buildings
  • 8 Units

Building Details

  • 8 Leased Units
  • 9 Separate Electric Meters
  • 8 Separate Gas Meters
  • 2 Separate Water Meters
  • Electric Expense $360
  • Insurance Expense $1,600
  • Maintenance Expense $960
  • Professional Management Expense $5,040
  • Trash Expense $2,064
  • Water Sewer Expense $4,080
  • New Taxes Expense $5,000
  • Gross Income $4,200
  • Net Operating Income $30,312

Property Details

Home Type

Multi-Family

Year Built

Built in 1963

Lot Details

0

Listing Details

  • Assessments: Yes
  • Professional Management Expense: 5040.00
  • Property Attached: Yes
  • Road Frontage Type: City Street
  • Security: Security Lights
  • Water Sewer Expenses: 4080.00
  • Property Type: Residential Income
  • Parcel Number: 445202025
  • Year Built: 1963
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: 2+ Common Walls, No One Above
  • Appliances: Yes
  • Price Per Square Foot: 100.00

Exterior Features

  • Other Structures: Shed(s)
  • Pool Private: No

Garage/Parking

  • Carport Spaces: 8.00
  • Parking: Yes
  • Parking Features: Assigned, Attached Carport
  • Total Parking Spaces: 8.00

Utilities

  • Heating: Yes
  • Laundry: Yes
  • Appliances: Gas Range
  • Heating Type: Wall Furnace
  • Laundry Features: In Kitchen
  • Sewer: Unknown
  • Trash Expense: 2064.00
  • Water Source: Public
  • Cooling: Wall/Window Unit(s)
  • Cooling: Yes

Condo/Co-op/Association

  • Community Features: Sidewalks

Lot Info

  • Lot Size Sq Ft: 12863.00
  • Price Per Lot Square Foot: 34.21
  • Lot Size Acres: 0.2950

Rental Info

  • Tenant Pays: Cable TV, Electricity, Gas

Multi Family

  • Average1 Bed Area: 550
  • Electric Expense: 360.00
  • Gross Income: 4200.00
  • Gross Scheduled Income: 50400.00
  • Insurance Expense: 1600.00
  • Lot Size Area: 12863.0000 Square Feet
  • Maintenance Expense: 960.00
  • Net Operating Income: 30312.00
  • Number Of Separate Electric Meters: 9
  • Number Of Separate Gas Meters: 8
  • Number Of Separate Water Meters: 2
  • Number Of Units Leased: 8
  • Number Of Units Total: 8
  • Number With Range: 8
  • Operating Expense: 1674.00
  • Rent Control: No
  • Total Actual Rent: 4200.00

Tax Info

  • New Taxes Expense: 5000.00
  • Tax Lot: 2
  • Tax Tract Number: 000
  • Tax Year: 2014

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jul 13, 2015
Closed on
Aug 18, 2015
Sold by
Sanchez Raymond D
Bought by
Group Iii Sgv Properties Ltd
Seller's Agent
Dana Anderson
Kimmell-Anderson Property Mng.
Buyer's Agent
David Covarrubias
MARCUS & MILLICHAP
List Price
$459,900
Sold Price
$440,000
Premium/Discount to List
-$19,900
-4.33%
Current Estimated Value
$911,577

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$471,577
Avg. Annual Appreciation
7.23%

Purchase Details

Closed on
Nov 22, 2011
Sold by
Sanchez Raymond D
Bought by
Sanchez Raymond D and Sanchez Myron R

Purchase Details

Closed on
Jan 9, 2009
Sold by
Sanchez Raymond and Sanchez Matthew
Bought by
Sanchez Raymond D

Purchase Details

Closed on
Nov 20, 2003
Sold by
Sanchez Raymond
Bought by
Sanchez Raymond D

Purchase Details

Closed on
Nov 13, 2002
Sold by
Legends Investment Group Inc
Bought by
Sanchez Raymond and Sanchez Matthew

Purchase Details

Closed on
May 15, 2002
Sold by
Nevarez Ray
Bought by
Legends Investment Group Inc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$317,200
Interest Rate
6.89%
Mortgage Type
Commercial

Purchase Details

Closed on
Jun 26, 2000
Sold by
Miller Torrence B
Bought by
Nevarez Ray

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$115,500
Interest Rate
6.5%
Mortgage Type
Commercial
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
Not Available
List Price
Sold Price
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Purchase History

Date Buyer Sale Price Title Company
Group Iii Sgv Properties Ltd $440,000 Chicago Title Company
Sanchez Raymond D -- None Available
Sanchez Raymond D -- None Available
Sanchez Raymond D -- --
Sanchez Raymond $420,000 Chicago Title Co
Legends Investment Group Inc $290,000 Chicago Title Co
Nevarez Ray $165,000 United Title
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Legends Investment Group Inc $317,200
Previous Owner Nevarez Ray $115,500
Closed Sanchez Raymond $0
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
08/21/2015 08/21/15 Sold $440,000 -4.3% $100 / Sq Ft
08/05/2015 08/05/15 Pending -- -- --
03/24/2015 03/24/15 For Sale $459,900 -- $105 / 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 $5,970 $520,863 $92,333 $428,530
2023 $5,970 $500,640 $88,749 $411,891
2022 $5,784 $490,824 $87,009 $403,815
2021 $5,690 $481,201 $85,303 $395,898
2020 $5,631 $476,268 $84,429 $391,839
2019 $5,511 $466,930 $82,774 $384,156
2018 $5,343 $457,775 $81,151 $376,624
2017 $5,281 $448,800 $79,560 $369,240
2016 $5,243 $440,000 $78,000 $362,000
2015 $4,339 $356,450 $43,013 $313,437
2014 $4,096 $349,470 $42,171 $307,299
Source: Public Records

Agents Affiliated with this Home

  • D

    Seller's Agent in 2015

    Dana Anderson

    Kimmell-Anderson Property Mng.

    (951) 929-7651

    31 Total Sales

    Dana Anderson
    Section Image
  • David Covarrubias

    Buyer's Agent in 2015

    David Covarrubias

    MARCUS & MILLICHAP

    (909) 456-3400

    46 Total Sales

    David Covarrubias
    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: SW15062453

California Regional Multiple Listing Service (CRMLS)

APN: 445-202-025

California Riverside County Hemet 92544

1865 E Devonshire Ave, Hemet, CA

Not Listed for Sale

MultiFamily

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