NOT LISTED FOR SALE

224 N Inez St Hemet, CA 92543

Estimated Value: $489,488 - $659,000

2 Beds
2 Baths
2,100 Sq Ft
$272/Sq Ft Est. Value

Last Sold December 17, 2018

Last sale price $355,000 $169 Per Sq Ft

Est. 61% increase in value since last sale

Current estimated payment $3,502/month

82 Days on Market

Highlights

  • Gated Community
  • No HOA
  • Wrought Iron Fence
  • Traditional Architecture
  • Accessible Parking

About This Home

As of December 2018

Great investment with more than 9% CAP rate this property to be sold together with the adjacent property 226 N Inez as one package .(both properties share the driveway) All units are remodeled and rented Property is being managed by reputable management company. buyer has choice to keep them or not.

Last Agent to Sell the Property

Luis Stigler

STIGLER MORTGAGE License #01202056 Listed on: 06/25/2018

Last Buyer's Agent

Jorge Inzunza

Inzunza Real Estate Inc. License #01342370

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1950

Lot Details

  • 5,750 Sq Ft Lot
  • 1 Common Wall
  • Wrought Iron Fence
  • Fence is in average condition
  • Density is 2-5 Units/Acre

Home Design

  • Traditional Architecture
  • Quadruplex
  • Fire Rated Drywall
  • Asbestos Shingle Roof

Interior Spaces

  • 2,100 Sq Ft Home
  • Panel Doors

Kitchen

  • Built-In Range
  • Disposal

Bedrooms and Bathrooms

  • 2 Bedrooms
  • 2 Bathrooms

Parking

  • Parking Available
  • Assigned Parking

Additional Features

  • Accessible Parking
  • Urban Location
  • Natural Gas Connected

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Tax Lot 11
  • Assessor Parcel Number 443194011

Community Details

Overview

  • No Home Owners Association
  • 4 Units

Building Details

  • 4 Leased Units
  • 4 Separate Electric Meters
  • 4 Separate Gas Meters
  • 1 Separate Water Meter
  • Insurance Expense $800
  • Maintenance Expense $600
  • Trash Expense $240
  • Water Sewer Expense $2,700
  • New Taxes Expense $3,078
  • Operating Expense $7,418
  • Gross Income $41,700
  • Net Operating Income $34,282

Security

  • Gated Community

Property Details

Home Type

Multi-Family

Year Built

Built in 1950

Lot Details

5,750 Sq Ft Lot

Listing Details

  • Assessments: Yes
  • Ad Number: Luis
  • CapRate: 9.66
  • Property Attached: Yes
  • Road Frontage Type: City Street
  • Road Surface Type: Paved
  • Security: Gated Community
  • View: No
  • Water Sewer Expenses: 2700.00
  • Zoning: R3
  • Architectural Style: Traditional
  • Property Sub Type: Quadruplex
  • Property Type: Residential Income
  • Parcel Number: 443194011
  • Year Built: 1950
  • Special Features: None

Interior Features

  • Fireplace: No
  • Interior Amenities: Unfurnished
  • Common Walls: 1 Common Wall
  • Accessibility Features: Parking
  • Appliances: Yes
  • Door Features: Panel Doors
  • Levels: One
  • Price Per Square Foot: 169.05
  • Room Type: Kitchen

Exterior Features

  • Fence: Yes
  • Fencing: Average Condition, Wrought Iron
  • Pool Private: No
  • Roof: Asbestos Shingle
  • Spa: No
  • Construction Materials: Drywall Walls

Garage/Parking

  • Parking: Yes
  • Parking Features: Assigned

Utilities

  • Utilities: Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
  • Laundry: No
  • Appliances: Built-In Range, Disposal
  • Electric: Electricity - On Property
  • Sewer: Public Sewer
  • Trash Expense: 240.00
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Urban

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 2-5 Units/Acre
  • Lot Size Sq Ft: 5750.00
  • Lot Size Acres: 0.1320

Rental Info

  • Tenant Pays: Electricity, Gas

Multi Family

  • Gross Income: 41700.00
  • Gross Scheduled Income: 45600.00
  • Insurance Expense: 800.00
  • Lot Size Area: 5750.0000 Square Feet
  • Maintenance Expense: 600.00
  • Net Operating Income: 34282.00
  • Number Of Separate Electric Meters: 4
  • Number Of Separate Gas Meters: 4
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 4
  • Number Of Units Total: 4
  • Number With Dishwasher: 1
  • Number With Disposal: 1
  • Number With Range: 1
  • Operating Expense: 7418.00
  • Rent Control: No
  • Total Actual Rent: 3450.00
  • Total Expenses: 7418.00

Tax Info

  • New Taxes Expense: 3078.00
  • Tax Census Tract: 434.01
  • Tax Lot: 11

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Apr 20, 2023
Sold by
Branch Keturah
Bought by
224 Inez Llc
Current Estimated Value
$571,122

Purchase Details

Closed on
May 16, 2022
Sold by
Paulo Arcasi
Bought by
Branch Keturah

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$432,844
Interest Rate
5.7%
Mortgage Type
FHA

Purchase Details

Listed on
Jun 25, 2018
Closed on
Dec 9, 2018
Sold by
Arcasi Cecilia Chavez De
Bought by
Arcasi Paulo
Seller's Agent
Luis Stigler
STIGLER MORTGAGE
Buyer's Agent
Jorge Inzunza
Inzunza Real Estate Inc.
List Price
$355,000
Sold Price
$355,000

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
6.83%
Original Mortgage
$266,250
Interest Rate
4.8%
Mortgage Type
New Conventional

Purchase Details

Listed on
Jun 25, 2018
Closed on
Nov 30, 2018
Sold by
Ebrahim Judith Vandiver
Bought by
Arcasi Paulo
Seller's Agent
Luis Stigler
STIGLER MORTGAGE
Buyer's Agent
Jorge Inzunza
Inzunza Real Estate Inc.
List Price
$355,000
Sold Price
$355,000

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$266,250
Interest Rate
4.8%
Mortgage Type
New Conventional

Purchase Details

Listed on
Jan 1, 2018
Closed on
Feb 7, 2018
Sold by
Ebrahim Judith Vandiver
Bought by
Ebrahim Judith Vandiver
Seller's Agent
Suhaila Sabir
Excellence RE Real Estate
Buyer's Agent
Luis Stigler
STIGLER MORTGAGE
List Price
$325,000
Sold Price
$330,000
Premium/Discount to List
$5,000
1.54%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
8.86%

Purchase Details

Listed on
Jan 1, 2018
Closed on
Jan 19, 2018
Sold by
Flores Jose
Bought by
Ebrahim Judith Van Diven
Seller's Agent
Suhaila Sabir
Excellence RE Real Estate
Buyer's Agent
Luis Stigler
STIGLER MORTGAGE
List Price
$325,000
Sold Price
$330,000
Premium/Discount to List
$5,000
1.54%

Purchase Details

Listed on
Mar 1, 2016
Closed on
Apr 28, 2016
Sold by
Bakhshi David
Bought by
Flores Jose
Seller's Agent
Corina Preece
EXCELLENCE RE REAL ESTATE
Buyer's Agent
Corina Preece
EXCELLENCE RE REAL ESTATE
List Price
$295,000
Sold Price
$299,888
Premium/Discount to List
$4,888
1.66%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
5.55%
Original Mortgage
$175,000
Interest Rate
3.73%
Mortgage Type
Commercial

Purchase Details

Listed on
Mar 1, 2016
Closed on
Mar 31, 2016
Sold by
Flores Adriana
Bought by
Flores Jose
Seller's Agent
Corina Preece
EXCELLENCE RE REAL ESTATE
Buyer's Agent
Corina Preece
EXCELLENCE RE REAL ESTATE
List Price
$295,000
Sold Price
$299,888
Premium/Discount to List
$4,888
1.66%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$175,000
Interest Rate
3.73%
Mortgage Type
Commercial

Purchase Details

Listed on
Apr 20, 2015
Closed on
Aug 28, 2015
Sold by
Figueroa Dario Haro and Haro Dario
Bought by
Bakhshi David
Seller's Agent
Dario Haro-Trujillo
NON-MEMBER/NBA or BTERM OFFICE
Buyer's Agent
NoEmail NoEmail
NONMEMBER MRML
List Price
$242,500
Sold Price
$230,000
Premium/Discount to List
-$12,500
-5.15%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
47.73%
Original Mortgage
$130,000
Interest Rate
3.86%
Mortgage Type
Commercial

Purchase Details

Closed on
Jul 12, 2013
Sold by
Haro Maria Guadalupe
Bought by
Haro Dario

Purchase Details

Closed on
Jul 11, 2013
Sold by
Wayy Brian
Bought by
Haro Dario

Purchase Details

Closed on
Oct 25, 2010
Sold by
Valdez Francisco and Valdez Maria
Bought by
Wayy Brian

Purchase Details

Closed on
Sep 30, 2005
Sold by
Valdez Francisco and Valdez Maria J
Bought by
Valdez Francisco and Valdez Maria J

Purchase Details

Closed on
Aug 7, 2002
Sold by
Legend Investment Group Inc
Bought by
Glessner Mary Lee

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$168,000
Interest Rate
5.31%
Mortgage Type
Commercial

Purchase Details

Closed on
Jul 25, 2002
Sold by
Viveros Artemio
Bought by
Viveros Agripina G

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$168,000
Interest Rate
5.31%
Mortgage Type
Commercial

Purchase Details

Closed on
Jun 18, 2002
Sold by
Viveros Agripina G and Martinez Aurora
Bought by
Legend Investment Group Services Inc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$168,000
Interest Rate
5.31%
Mortgage Type
Commercial

Purchase Details

Closed on
Aug 27, 1999
Sold by
Martinez Aurora
Bought by
Viveros Agripina G and Martinez Aurora

Purchase Details

Closed on
Jul 31, 1998
Sold by
Viveros Agripina
Bought by
Martinez Aurora

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$62,900
Interest Rate
6.88%
Mortgage Type
FHA

Purchase Details

Closed on
May 9, 1996
Sold by
Robinson Derrell and Robinson Deborah L
Bought by
Great Western Bank Fsb

Purchase Details

Closed on
Jan 16, 1996
Sold by
Choi Arlene and Salts Guy G
Bought by
Salts Guy G and Salts Harriet Jewell
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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Purchase History

Date Buyer Sale Price Title Company
224 Inez Llc -- None Listed On Document
Branch Keturah $465,000 Usa National Title
Arcasi Paulo -- Corinthian Title Company
Arcasi Paulo $355,000 Corinthian Title Company
Ebrahim Judith Vandiver -- Accommodation
Ebrahim Judith Van Diven $330,000 Pacific Coast Title Co
Flores Jose $250,000 Ortc
Flores Jose -- Ortc
Bakhshi David $230,000 Priority Title
Haro Dario -- North American Title Co Inc
Haro Dario $219,000 North American Title Co Inc
Wayy Brian $111,000 Ticor Title
Valdez Francisco -- Old Republic Title Company
Glessner Mary Lee $210,000 Chicago Title Co
Viveros Agripina G -- --
Legend Investment Group Services Inc $135,000 Chicago Title Co
Viveros Agripina G -- --
Martinez Aurora $63,000 Lawyers Title Company
Great Western Bank Fsb $20,300 Orange Coast Title
Salts Guy G $108,489 Chicago Title Co
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Branch Keturah $432,844
Previous Owner Arcasi Paulo $266,250
Previous Owner Flores Jose $175,000
Previous Owner Bakhshi David $130,000
Previous Owner Glessner Mary Lee $168,000
Previous Owner Legend Investment Group Services Inc $161,000
Previous Owner Martinez Aurora $62,900
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
12/17/2018 12/17/18 Sold $355,000 0.0% $169 / Sq Ft
11/03/2018 11/03/18 For Sale $355,000 0.0% $169 / Sq Ft
09/15/2018 09/15/18 Pending -- -- --
09/14/2018 09/14/18 Pending -- -- --
08/28/2018 08/28/18 Price Changed $355,000 -1.4% $169 / Sq Ft
08/13/2018 08/13/18 Price Changed $360,000 -2.7% $171 / Sq Ft
07/18/2018 07/18/18 Price Changed $370,000 -10.3% $176 / Sq Ft
07/16/2018 07/16/18 For Sale $412,500 +16.2% $196 / Sq Ft
07/15/2018 07/15/18 Off Market $355,000 -- --
06/25/2018 06/25/18 For Sale $412,500 +25.0% $196 / Sq Ft
02/06/2018 02/06/18 Sold $330,000 +1.5% $157 / Sq Ft View Prior Sale
01/11/2018 01/11/18 Pending -- -- --
01/01/2018 01/01/18 For Sale $325,000 +8.4% $155 / Sq Ft
05/02/2016 05/02/16 Sold $299,888 +1.7% $143 / Sq Ft View Prior Sale
03/09/2016 03/09/16 Pending -- -- --
03/01/2016 03/01/16 For Sale $295,000 +28.3% $140 / Sq Ft
08/26/2015 08/26/15 Sold $230,000 -5.2% $110 / Sq Ft View Prior Sale
07/24/2015 07/24/15 Pending -- -- --
04/20/2015 04/20/15 For Sale $242,500 -- $115 / 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 $6,715 $541,008 $78,030 $462,978
2023 $6,715 $465,000 $70,000 $395,000
2022 $4,368 $373,166 $68,325 $304,841
2021 $4,297 $365,850 $66,986 $298,864
2020 $4,247 $362,100 $66,300 $295,800
2019 $4,155 $355,000 $65,000 $290,000
2018 $3,071 $262,282 $57,222 $205,060
2017 $3,078 $257,182 $56,100 $201,082
2016 $2,765 $230,481 $40,000 $190,481
2015 $2,721 $223,856 $50,999 $172,857
2014 $2,601 $219,481 $50,000 $169,481
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: CV18152332

California Regional Multiple Listing Service (CRMLS)

APN: 443-194-011

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