NOT LISTED FOR SALE

Estimated Value: $516,000 - $908,000

4 Beds
4 Baths
1,250 Sq Ft
$509/Sq Ft Est. Value

Last Sold March 15, 2023

Last sale price $510,000 $408 Per Sq Ft

Est. 25% increase in value since last sale

Current estimated payment $3,829/month

671 Days on Market

Highlights

  • Level Lot
  • No Heating
  • 1-Story Property

About This Home

As of March 2023

Very nice 3 bedroom 2 bathroom house with a small duplex behind it! This property is a great opportunity to get three units near downtown Lake Elsinore with both street and alley access. The main home is currently rented for 1600/mo and the units in the back are generating another $1800+ between the two! Walking distance to shops on Main street and the lake so you won't want to miss out on this 3400+ income stream in this great location!

Last Agent to Sell the Property

Jarrod Whitehorn

Jarrod Whitehorn, Broker License #01480456 Listed on: 02/06/2021

Last Buyer's Agent

RENE POLANCO

THE GREAT REAL ESTATE COMPANY License #01083078

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1936

Lot Details

  • 7,405 Sq Ft Lot
  • No Common Walls
  • Level Lot

Interior Spaces

  • 1,250 Sq Ft Home
  • 1-Story Property

Bedrooms and Bathrooms

  • 4 Bedrooms
  • 4 Bathrooms

Location

  • Suburban Location

Utilities

  • No Heating
  • Septic Type Unknown

Listing and Financial Details

  • Legal Lot and Block 16 / F
  • Tax Tract Number 1
  • Assessor Parcel Number 373151005

Community Details

Overview

  • 2 Buildings
  • 3 Units

Building Details

  • 1 Separate Electric Meter
  • 1 Separate Gas Meter
  • 1 Separate Water Meter
  • Electric Expense $8,200
  • Fuel Expense $1,250
  • Insurance Expense $1,800
  • Trash Expense $700
  • Water Sewer Expense $2,750
  • New Taxes Expense $5,000
  • Operating Expense $19,700
  • Gross Income $40,980
  • Net Operating Income $21,280

Property Details

Home Type

Multi-Family

Year Built

Built in 1936

Lot Details

0

Listing Details

  • CapRate: 4.50
  • Property Attached: No
  • Water Sewer Expenses: 2750.00
  • Zoning: R3
  • Property Type: Residential Income
  • Parcel Number: 373151005
  • Year Built: 1936
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Stories: 1
  • Common Walls: No Common Walls
  • Levels: One
  • Price Per Square Foot: 408.00

Exterior Features

  • Pool Private: No

Utilities

  • Heating: No
  • Laundry: No
  • Sewer: Unknown
  • Trash Expense: 700.00
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Suburban

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Level with Street
  • Lot Size Sq Ft: 7405.00
  • Lot Size Acres: 0.1700

Multi Family

  • Electric Expense: 8200.00
  • Fuel Expense: 1250.00
  • Gross Income: 40980.00
  • Gross Scheduled Income: 40980.00
  • Insurance Expense: 1800.00
  • Lot Size Area: 7405.0000 Square Feet
  • Net Operating Income: 21280.00
  • Number Of Separate Electric Meters: 1
  • Number Of Separate Gas Meters: 1
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 3
  • Operating Expense: 19700.00
  • Rent Control: No
  • Total Expenses: 19700.00

Tax Info

  • New Taxes Expense: 5000.00
  • Tax Block: F
  • Tax Census Tract: 430.01
  • Tax Lot: 16
  • Tax Tract Number: 1

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Oct 31, 2024
Sold by
Cruz Lucila Ramirez
Bought by
Cruz Revocable Living Trust and Villareal
Current Estimated Value
$636,743

Purchase Details

Closed on
Feb 21, 2024
Sold by
Villareal Raul Adaya
Bought by
Ramirez Cruz Lucila

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$79,114
Interest Rate
6.6%
Mortgage Type
New Conventional

Purchase Details

Closed on
May 16, 2023
Sold by
Villarreal Raul Adaya
Bought by
My Ruta 180

Purchase Details

Closed on
Dec 16, 2022
Sold by
P & J Investment Group Inc
Bought by
Villarreal Raul Adaya and Cruz Lucila Ramirez

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$357,000
Interest Rate
6.12%
Mortgage Type
New Conventional

Purchase Details

Listed on
Nov 28, 2011
Closed on
Dec 14, 2011
Sold by
The Bank Of New York York Mellon
Bought by
P & J Investment Group Inc
Seller's Agent
Bob Hellman
Casa Bella Properties & R E
Buyer's Agent
Bob Hellman
Casa Bella Properties & R E
List Price
$114,900
Sold Price
$115,000
Premium/Discount to List
$100
0.09%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
12.97%

Purchase Details

Closed on
Jun 9, 2011
Sold by
Arellano David Juan
Bought by
The Bank Of New York Mellon

Purchase Details

Closed on
Sep 15, 2006
Sold by
Fuerte Pablo
Bought by
Arellano David Juan

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$324,100
Interest Rate
8.25%
Mortgage Type
Negative Amortization

Purchase Details

Closed on
May 13, 2005
Sold by
Mijrod Inc
Bought by
Fuerte Pablo

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$264,000
Interest Rate
5.75%
Mortgage Type
Commercial

Purchase Details

Closed on
Jul 1, 2002
Sold by
Morris James E and Morris Doreen Donelly
Bought by
Mijrod Inc

Purchase Details

Closed on
Oct 31, 2001
Sold by
Baldwin Victor H
Bought by
Morris James E and Morris Doreen Donelly

Purchase Details

Closed on
Sep 21, 2001
Sold by
Nay Donald P and Nay Orly A
Bought by
Victor H Baldwin Living Trust

Purchase Details

Closed on
Aug 3, 2001
Sold by
Nay Donald P and Nay Orly A
Bought by
The Grosslight Family Trust

Purchase Details

Closed on
Mar 29, 2000
Sold by
First Water Investments
Bought by
Nay Donald P and Nay Orly A

Purchase Details

Closed on
Nov 10, 1999
Sold by
Nay Donald P and Nay Orly A
Bought by
First Water Investments

Purchase Details

Closed on
Oct 4, 1999
Sold by
Wosoughka Fariborz
Bought by
Nay Donald P and Nay Orly A

Purchase Details

Closed on
Aug 28, 1998
Sold by
Hud
Bought by
Wosoughkia Fariborz

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$28,000
Interest Rate
6.73%
Mortgage Type
Commercial

Purchase Details

Closed on
Jan 22, 1998
Sold by
Fleet Mtg Corp
Bought by
Hud

Purchase Details

Closed on
Dec 3, 1997
Sold by
Nunez Roseanna M
Bought by
Fleet Mtg Corp

Purchase Details

Closed on
Mar 21, 1996
Sold by
Susarrey Margie J
Bought by
Nunez Roseanna M

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$64,966
Interest Rate
8.01%
Mortgage Type
FHA

Purchase Details

Closed on
Oct 18, 1994
Sold by
Hunter David C and Hunter Danute M
Bought by
Susarrey Margie J

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$85,500
Interest Rate
9.29%
Mortgage Type
Commercial

Purchase Details

Closed on
Oct 10, 1994
Sold by
Sanchez Raul and Sanchez Soledad Majarro
Bought by
Hunter David C and Hunter Danute M

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$85,500
Interest Rate
9.29%
Mortgage Type
Commercial
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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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

Purchase History

Date Buyer Sale Price Title Company
Cruz Revocable Living Trust -- None Listed On Document
Ramirez Cruz Lucila -- Stewart Title Of California
Ramirez Cruz Lucila -- Stewart Title Of California
Ramirez Cruz Lucila -- Stewart Title Of California
My Ruta 180 -- None Listed On Document
Villarreal Raul Adaya $510,000 First American Title
P & J Investment Group Inc $115,000 Landsafe Title
The Bank Of New York Mellon $373,506 Landsafe Default Inc
Arellano David Juan $463,000 Security Union Title
Fuerte Pablo $330,000 First American Title Company
Mijrod Inc -- Stewart Title
Morris James E $105,000 Lawyers Title Company
Victor H Baldwin Living Trust $94,249 American Title
The Grosslight Family Trust $118,000 --
Nay Donald P -- United Title Company
First Water Investments -- --
Nay Donald P $49,000 Lawyers Title Company
Wosoughkia Fariborz $34,000 First Southwestern Title Co
Hud $80,601 --
Fleet Mtg Corp $80,601 Fidelity National Title Ins
Nunez Roseanna M $100,500 Stewart Title
Susarrey Margie J $90,000 Orange Coast Title Co
Hunter David C $151,207 Orange Coast Title
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Ramirez Cruz Lucila $79,114
Previous Owner Villarreal Raul Adaya $357,000
Previous Owner Arellano David Juan $324,100
Previous Owner Fuerte Pablo $264,000
Previous Owner Wosoughkia Fariborz $28,000
Previous Owner Nunez Roseanna M $64,966
Previous Owner Susarrey Margie J $85,500
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
03/15/2023 03/15/23 Sold $510,000 +2.2% $408 / Sq Ft
12/09/2022 12/09/22 Pending -- -- --
07/25/2022 07/25/22 For Sale $498,960 0.0% $399 / Sq Ft
07/18/2022 07/18/22 Pending -- -- --
05/20/2022 05/20/22 For Sale $498,960 0.0% $399 / Sq Ft
04/27/2022 04/27/22 Pending -- -- --
02/28/2022 02/28/22 For Sale $498,960 0.0% $399 / Sq Ft
01/27/2022 01/27/22 Pending -- -- --
12/03/2021 12/03/21 Price Changed $498,960 0.0% $399 / Sq Ft
11/12/2021 11/12/21 Price Changed $498,970 0.0% $399 / Sq Ft
11/04/2021 11/04/21 For Sale $498,980 0.0% $399 / Sq Ft
09/07/2021 09/07/21 Pending -- -- --
08/20/2021 08/20/21 Price Changed $498,980 0.0% $399 / Sq Ft
08/16/2021 08/16/21 For Sale $498,990 0.0% $399 / Sq Ft
06/25/2021 06/25/21 Pending -- -- --
06/19/2021 06/19/21 Price Changed $498,990 0.0% $399 / Sq Ft
05/25/2021 05/25/21 For Sale $499,000 0.0% $399 / Sq Ft
05/13/2021 05/13/21 Pending -- -- --
02/06/2021 02/06/21 For Sale $499,000 +333.9% $399 / Sq Ft
01/06/2012 01/06/12 Sold $115,000 +0.1% $136 / Sq Ft View Prior Sale
12/07/2011 12/07/11 Pending -- -- --
11/28/2011 11/28/11 For Sale $114,900 -- $136 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

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 $5,983 $530,602 $115,567 $415,035
2023 $5,983 $138,826 $42,250 $96,576
2022 $2,020 $136,105 $41,422 $94,683
2021 $1,957 $133,437 $40,610 $92,827
2020 $1,934 $132,070 $40,194 $91,876
2019 $1,899 $129,481 $39,406 $90,075
2018 $1,861 $126,943 $38,634 $88,309
2017 $1,837 $124,455 $37,877 $86,578
2016 $1,747 $122,016 $37,135 $84,881
2015 $1,730 $120,185 $36,578 $83,607
2014 $1,686 $117,832 $35,862 $81,970
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: SW21025333

California Regional Multiple Listing Service (CRMLS)

APN: 373-151-005