NOT LISTED FOR SALE

1877 W Ramsey St Banning, CA 92220

1 Bed
1 Bath
-- Sq Ft
1.3 Acres

Last Sold November 11, 2013

Last sale price $550,000

208 Days on Market

About This Home

As of November 2013

SELLER FINANCING AVAILABLE!!! Plenty of Upside...14.04% Proforma CAP...Monterey Mobile Lodge is a 19-unit mobile home park and was constructed in the 1950's on approximately 1.30 acres. Gas, electric, trash and water utilities are sub-metered and paid by the landlord. The park consists of 16 park-owned mobile units and 3 apartments. The park also includes a small laundry room. There are currently 5 vacancies. Three vacant units that need to be renovated and three units are currently being renovated and will be available to be rent out soon. Plenty of upside. Low Maintenance...

Last Agent to Sell the Property

Robert Paez

PAEZ REALTY COMPANY License #01728129 Listed on: 05/01/2013

Last Buyer's Agent

Jack DeArmond

RE/MAX Fine Homes License #01736441

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1950

Lot Details

  • 1.3 Acre Lot
  • Two or More Common Walls
  • Density is 11-15 Units/Acre

Parking

  • 19 Parking Spaces

Home Design

  • Property Attached

Bedrooms and Bathrooms

  • 1 Bedroom
  • 1 Bathroom

Location

  • Suburban Location

Listing and Financial Details

  • Tax Lot 6
  • Tax Tract Number 8

Community Details

Overview

  • 17 Buildings
  • 19 Units

Building Details

  • 19 Separate Electric Meters
  • 19 Separate Gas Meters
  • 19 Separate Water Meters
  • Insurance Expense $2,977
  • Maintenance Expense $3,941
  • Trash Expense $4,462
  • New Taxes Expense $8,347
  • Gross Income $12,350
  • Net Operating Income $83,513

Property Details

Home Type

Multi-Family

Year Built

Built in 1950

Lot Details

0

Listing Details

  • CapRate: 14.04
  • Property Attached: Yes
  • Property Type: Residential Income
  • Year Built: 1950
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: 2+ Common Walls

Exterior Features

  • Pool Private: No

Garage/Parking

  • Total Parking Spaces: 19.00

Utilities

  • Utilities: Sewer Available
  • Trash Expense: 4462.00
  • Water Source: Public

Condo/Co-op/Association

  • Community Features: Suburban

Lot Info

  • Lot Features: 11-15 Units/Acre
  • Lot Size Sq Ft: 56628.00
  • Lot Size Acres: 1.3000

Multi Family

  • Gross Income: 12350.00
  • Gross Scheduled Income: 148200.00
  • Insurance Expense: 2977.00
  • Lot Size Area: 56628.0000 Square Feet
  • Maintenance Expense: 3941.00
  • Net Operating Income: 83513.00
  • Number Of Separate Electric Meters: 19
  • Number Of Separate Gas Meters: 19
  • Number Of Separate Water Meters: 19
  • Number Of Units Total: 19
  • Operating Expense: 58432.00
  • Operating Expense Percent: 31.08
  • Rent Control: No
  • Vacancy Allowance: 24600
  • Vacancy Allowance Rate: 17.00

Tax Info

  • New Taxes Expense: 8347.00
  • Tax Lot: 6
  • Tax Tract Number: 8

Range of Values:

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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

Property History

Date Event Price Change Sq Ft Price
11/11/2013 11/11/13 Sold $550,000 -7.6% --
10/03/2013 10/03/13 Pending -- -- --
03/09/2013 03/09/13 For Sale $595,000 -- --
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Robert Paez

    Seller's Agent in 2013

    Robert Paez

    PAEZ REALTY COMPANY

    (909) 476-3552

    113 Total Sales

    Section Image

  • J

    Buyer's Agent in 2013

    Jack DeArmond

    RE/MAX

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: CV13041153

California Regional Multiple Listing Service (CRMLS)

California Riverside County Banning 92220

1877 W Ramsey St, Banning, CA

This home is located at 1877 W Ramsey St, Banning, CA 92220 since 01 May 2013. This property was built in 1950. 1877 W Ramsey St is a home located in Riverside County with nearby schools including Banning High School and Calvary Christian School.

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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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