NOT LISTED FOR SALE

Estimated Value: $411,000 - $699,000

3 Beds
4 Baths
1,772 Sq Ft
$293/Sq Ft Est. Value

Sale Details

Date Sold: March 1, 2012

Last sale price $155,000 $87 Per Sq Ft

Est. 235% increase in value since last sale

Current estimated payment $3,014 / mo

53 Days on Market

Highlights

  • Victorian Architecture
  • Tile Flooring
  • Heating System Uses Natural Gas

About This Home

As of March 2012

TRI-PLEX! Excellent Cash Flow for Investors. Charming 3bed/2bath front house with inside laundry, tiled floors, new windows. (Rented for $900) The back house is an income producing duplex with two large studios rented for $500 & $600. All three units have had recent updates. Walk to the lake, parks, shops and Main Street in Historical Downtown Lake Elsinore. The police station, restaurants, markets, and city hall are all within a few blocks. Great freeway access! Under a mile to the 15 on-ramp...EQUITY SELLER LOOKING FOR QUICK CASH OFFERS - SUBMIT!

Last Agent to Sell the Property

David Prewitt

Dream Home Estates, Inc. License #01818468 Listed on: 12/16/2011

Last Buyer's Agent

Mauricio Sanchez

RE/MAX TIME REALTY License #01716728

RE/MAX TIME REALTY

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1956

Lot Details

  • 7,840 Sq Ft Lot

Parking

  • 4 Parking Spaces

Home Design

  • 1,772 Sq Ft Home
  • Victorian Architecture
  • Shingle Roof
  • Composition Roof
  • Stucco

Flooring

  • Carpet
  • Tile

Bedrooms and Bathrooms

  • 3 Bedrooms
  • 4 Bathrooms

Utilities

  • Heating System Uses Natural Gas
  • Wall Furnace
  • Gas Water Heater

Listing and Financial Details

  • Tenant pays for cable TV, electricity, gas
  • Legal Lot and Block 19 / E
  • Tax Tract Number 1
  • Assessor Parcel Number 373024030

Community Details

Overview

  • 2 Buildings
  • 3 Units

Building Details

  • 3 Leased Units
  • 2 Separate Electric Meters
  • 2 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $100
  • Water Sewer Expense $100
  • Gross Income $2,200
  • Net Operating Income $24,000

Property Details

Home Type

Multi-Family

Year Built

Built in 1956

Lot Details

7,840 Sq Ft Lot

Listing Details

  • Assessments: No
  • CapRate: 10.96
  • View: No
  • Water Sewer Expenses: 100.00
  • Architectural Style: Victorian
  • Property Type: Residential Income
  • Parcel Number: 373024030
  • Year Built: 1956
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: No
  • Flooring: Carpet, Tile
  • Appliances: No
  • Levels: One
  • Price Per Square Foot: 87.47

Exterior Features

  • Pool Private: No
  • Roof: Composition, Shingle
  • Spa: No
  • Construction Materials: Stucco

Garage/Parking

  • Parking: No
  • Total Parking Spaces: 4.00

Utilities

  • Utilities: Water Connected
  • Heating: Yes
  • Laundry: No
  • Appliances: Gas Water Heater
  • Heating Type: Natural Gas, Wall Furnace
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No

Lot Info

  • Lot Size Sq Ft: 7840.00
  • Lot Size Acres: 0.1800

Rental Info

  • Tenant Pays: Cable TV, Electricity, Gas

Multi Family

  • Electric Expense: 100.00
  • Gross Income: 2200.00
  • Gross Multiplier: 8.30
  • Gross Scheduled Income: 26400.00
  • Lot Size Area: 7840.0000 Square Feet
  • Net Operating Income: 24000.00
  • Number Of Separate Electric Meters: 2
  • Number Of Separate Gas Meters: 2
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 3
  • Number Of Units Total: 3
  • Operating Expense: 2400.00

Tax Info

  • Tax Area: 5043
  • Tax Block: E
  • Tax Lot: 19
  • Tax Tract Number: 1

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Dec 16, 2011
Closed on
Jan 17, 2012
Sold by
Prewitt David M
Bought by
Perez Jose A and Peres Ana Isabel
Seller's Agent
David Prewitt
Dream Home Estates, Inc.
Buyer's Agent
Mauricio Sanchez
RE/MAX TIME REALTY
List Price
$249,000
Sold Price
$155,000
Premium/Discount to List
-$94,000
-37.75%
Current Estimated Value
$519,474

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$364,474
Avg. Annual Appreciation
8.97%
Original Mortgage
$146,020
Outstanding Balance
$99,020
Interest Rate
3.83%
Mortgage Type
FHA
Estimated Equity
$420,454

Purchase Details

Closed on
Feb 24, 2010
Sold by
Hsbc Bank Usa Na
Bought by
Prewitt David M

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$103,098
Interest Rate
4.92%
Mortgage Type
FHA

Purchase Details

Closed on
Jun 18, 2009
Sold by
Rivera Leonel Contreras
Bought by
Hsbc Bank Usa Na

Purchase Details

Closed on
Apr 25, 2006
Sold by
Castillo Francisco and Castillo Francisco
Bought by
Rivera Leonel Contreras

Purchase Details

Closed on
Jan 8, 2004
Sold by
Castillo Francisco
Bought by
Castillo Francisco and Castillo Francisco

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$250,000
Interest Rate
5.79%
Mortgage Type
Commercial

Purchase Details

Closed on
Oct 23, 2002
Sold by
Castillo Angelina
Bought by
Castillo Francisco

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$144,800
Interest Rate
7.5%
Mortgage Type
Commercial

Purchase Details

Closed on
Oct 16, 2002
Sold by
Wood George P and Wood Janet M
Bought by
Castillo Francisco

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$144,800
Interest Rate
7.5%
Mortgage Type
Commercial

Purchase Details

Closed on
Apr 21, 2000
Sold by
L & L Enterprises
Bought by
Wood George P and Wood Janet M

Purchase Details

Closed on
Jan 21, 2000
Sold by
Pan American Bank Fsb
Bought by
L & L Enterprises

Purchase Details

Closed on
Nov 4, 1999
Sold by
Sandra Bruce
Bought by
Pan American Bank Fsb

Purchase Details

Closed on
May 5, 1997
Sold by
Hud
Bought by
Bruce Sandra

Purchase Details

Closed on
Feb 26, 1996
Sold by
Oldar Mark
Bought by
First Mtg Corp

Purchase Details

Closed on
Nov 16, 1994
Sold by
Oldar Mark and Oldar Mary
Bought by
Oldar Mark

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$94,650
Interest Rate
8.9%
Mortgage Type
FHA
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
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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
Perez Jose A $155,000 Lawyers Title
Prewitt David M $105,000 Lsi Title Company
Hsbc Bank Usa Na $83,700 None Available
Rivera Leonel Contreras $450,000 First American
Castillo Francisco -- Fidelity National Financial
Castillo Francisco -- First American Title Co
Castillo Francisco $181,000 First American Title Co
Wood George P $108,000 Chicago Title Co
L & L Enterprises $65,000 Chicago Title
Pan American Bank Fsb $64,792 Chicago Title Co
Bruce Sandra $41,000 Stewart Title Company
First Mtg Corp $104,675 United Title Company
Hud -- United Title
Oldar Mark -- United Title Co
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Perez Jose A $146,020
Previous Owner Prewitt David M $103,098
Previous Owner Castillo Francisco $250,000
Previous Owner Castillo Francisco $144,800
Previous Owner Oldar Mark $94,650
Closed Castillo Francisco $36,200
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
03/01/2012 03/01/12 Sold $155,000 -37.8% $87 / Sq Ft
02/07/2012 02/07/12 Pending -- -- --
12/16/2011 12/16/11 For Sale $249,000 -- $141 / 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 $2,595 $194,672 $62,793 $131,879
2023 $2,595 $187,114 $60,355 $126,759
2022 $2,510 $183,446 $59,172 $124,274
2021 $2,438 $179,850 $58,012 $121,838
2020 $2,410 $178,007 $57,418 $120,589
2019 $2,365 $174,518 $56,293 $118,225
2018 $2,318 $171,097 $55,191 $115,906
2017 $2,285 $167,743 $54,109 $113,634
2016 $2,179 $164,455 $53,049 $111,406
2015 $2,043 $161,987 $52,253 $109,734
2014 $1,986 $158,817 $51,231 $107,586
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: S682419

California Regional Multiple Listing Service (CRMLS)

APN: 373-024-030

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