Ken Galasso
SIERRA REALTY FONTANA INC
(951) 749-9329
54 Total Sales
1 in Mentone
$1,525,000 Price
2231 Mentone Blvd Unit 2229, 2231 Mentone, CA 92359
Mentone Area
12
Beds
--
Baths
5,500
Sq Ft
1.32
Acre Lot
Highlights
- 1.32 Acre Lot
- No HOA
- Laundry Facilities
- Redlands East Valley High School Rated A-
About This Home
As of June 2022We have six units managed by the same company for 7 years, all but one are long term tenants with strong rent rolls. Rents could stand a 10.000% increase this year regarding rent cap law. We have had no major repair issues reported in the last few years. The rental income would support a loan with a gross rents at about 78K a year and features and incredible buildable plane into the near future. Actual cost and accounting available.
This property and current income at about 7k per month, we also find real value is based on it's location on Mentone Blvd and shared property lines with other owner developers.
Our engineer believes we can build 27 units at this location, access to sewer is about a block away, the county will not issue any septic at the time of investigation but it's only a matter of time before we have a sewer connection at the street and the ability to build without having to tap in down the block.
The prospectus on the build would be approximately 27 One thousand square foot two bedroom apartments which should bring $1,500.00 a month at $40,500.00 gross monthly revenues. We estimate the construction to be about $174.00 per square foot or $4.6 Million dollars.
This location is a main road connection with incredible future possibilities.
Last Agent to Sell the Property
Gabe Parker
MOUNTAIN AIR REAL ESTATE-YUC License #01404627 Listed on: 01/27/2022
Last Buyer's Agent
General NONMEMBER
NONMEMBER MRML
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Property Details
Home Type
- Multi-Family
Year Built
- Built in 1958
Lot Details
- 1.32 Acre Lot
- Two or More Common Walls
- Density is 11-15 Units/Acre
Parking
- 4 Car Garage
- Parking Available
- Assigned Parking
Home Design
- Apartment
Interior Spaces
- 12 Bedrooms
- 5,500 Sq Ft Home
- 2-Story Property
- Gas And Electric Dryer Hookup
Additional Features
- Suburban Location
- Conventional Septic
Listing and Financial Details
- Tenant pays for electricity, gas
- Tax Lot 43
- Tax Tract Number 251
- Assessor Parcel Number 0298251430000
- $5,176 per year additional tax assessments
Community Details
Overview
- No Home Owners Association
- 3 Buildings
- 6 Units
Amenities
- Laundry Facilities
Building Details
- 6 Separate Electric Meters
- 6 Separate Gas Meters
- 1 Separate Water Meter
- Electric Expense $240
- Insurance Expense $2,499
- Professional Management Expense $6,242
- Trash Expense $4,320
- Water Sewer Expense $1,934
- Operating Expense $15,235
- Gross Income $78,024
- Net Operating Income $62,789
Home Values in the Area
Average Home Value in this Area
Agents Specializing in Mentone, CA
-
Ken Galasso
-
CIERA SIMS-BOTSFORD
CIERA SIMS-BOTSFORD
ANOMALY REAL ESTATE
(951) 749-9183
206 Total Sales
1 in Mentone
$685,000 Price
-
Monique Zacarias
Monique Zacarias
REAL BROKERAGE TECHNOLOGIES
(909) 280-7784
99 Total Sales
1 in Mentone
$432,900 Price
-
Albert Soto
Albert Soto
True Inmobiliaria
(657) 279-5316
85 Total Sales
1 in Mentone
$510,000 Price
-
Boyd Williams
Boyd Williams
Berkshire Hathaway Homeservices California Realty
(909) 351-3485
23 Total Sales
1 in Mentone
$585,000 Price
-
Mark Lear
Mark Lear
WERE Real Estate Inc
(657) 223-8121
354 Total Sales
1 in Mentone
$585,000 Price
Property History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 06/02/2022 06/02/22 | Sold | $1,100,000 | -8.3% | $200 / Sq Ft |
| 02/05/2022 02/05/22 | Pending | -- | -- | -- |
| 01/27/2022 01/27/22 | For Sale | $1,200,000 | -- | $218 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| 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 |
|---|---|---|---|---|
| 2026 | $14,621 | $1,190,675 | $238,135 | $952,540 |
| 2025 | $14,621 | $1,167,329 | $233,466 | $933,863 |
| 2024 | $13,652 | $1,144,440 | $228,888 | $915,552 |
| 2023 | $13,631 | $1,122,000 | $224,400 | $897,600 |
| 2022 | $5,090 | $406,720 | $176,836 | $229,884 |
| 2021 | $5,176 | $398,745 | $173,369 | $225,376 |
| 2020 | $5,096 | $394,656 | $171,591 | $223,065 |
| 2019 | $4,958 | $386,917 | $168,226 | $218,691 |
| 2018 | $4,680 | $379,330 | $164,927 | $214,403 |
| 2017 | $4,641 | $371,892 | $161,693 | $210,199 |
| 2016 | $4,588 | $364,600 | $158,523 | $206,077 |
| 2015 | $4,554 | $359,124 | $156,142 | $202,982 |
| 2014 | $4,446 | $352,089 | $153,083 | $199,006 |
Source: Public Records
Agents Affiliated with this Home
-
GP
Seller's Agent in 2022
Gabe Parker
MOUNTAIN AIR REAL ESTATE-YUC
-
GN
Buyer's Agent in 2022
General NONMEMBER
NONMEMBER MRML
-
CA
Buyer's Agent in 2022
Chris Arthur
ITECH MLS
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: EV22012939
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
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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