NOT LISTED FOR SALE

1877 W Ramsey St Banning, CA 92220

1 Bed
1 Bath
-- Sq Ft
1.3 Acres Lot

Sale Details

Date 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

1.3 Acres

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 Rate: 17.00

Tax Info

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

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 $9,166 $674,212 $245,166 $429,046
2023 $9,166 $648,034 $235,647 $412,387
2022 $8,968 $635,328 $231,027 $404,301
2021 $8,795 $622,872 $226,498 $396,374
2020 $8,724 $616,486 $224,176 $392,310
2019 $8,588 $604,399 $219,781 $384,618
2018 $8,535 $592,549 $215,472 $377,077
2017 $8,400 $580,932 $211,248 $369,684
2016 $7,988 $569,542 $207,106 $362,436
2015 $7,875 $560,989 $203,996 $356,993
2014 $7,826 $550,000 $200,000 $350,000
Source: Public Records

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: CV13041153

California Regional Multiple Listing Service (CRMLS)
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