NOT LISTED FOR SALE

23756 Sunnymead Blvd Moreno Valley, CA 92553

Sunnymead Neighborhood
6 Beds
3 Baths
24,900 Sq Ft
4.03 Acres

Last Sold November 15, 2018

Last sale price $3,250,000 $131 Per Sq Ft

96 Days on Market

Highlights

  • 4.03 Acre Lot
  • No HOA
  • 1-Story Property

About This Home

As of November 2018

First time being offered in 30 years, subject property is 100% single story cottage style building is situated on a large lot of 4.03 acres. The property consists of six, one bedroom one bathroom units, fourteen, two bedroom one bathroom units, six, three bedroom one bathroom units, and two retail units. The property is non-rent controlled area with over 50% upside in rents resulting in 8.22% CAP rate.


Neatly located on a highly visibility street with even higher visibility, and it has convenient access to Freeway I-60 and I-215. The city of Moreno Valley is located at the intersection of FWY 60 and 215, and bordered by the city of Riverside and Redlands. The city of Moreno Valley contains a median household income of $54,299 and a median home price of $316,200.

Investors who are seeking a mixed-use property will be great for this type of property. This investment opportunity offers a stable cash flow and an opportunity to increase rents through renovation in one of the strongest rental markets in the Inland Empire.

Last Agent to Sell the Property

David Lin

MARCUS & MILLICHAP License #01894476 Listed on: 06/13/2018

Last Buyer's Agent

David Lin

MARCUS & MILLICHAP License #01894476 Listed on: 06/13/2018

Property Details

Home Type

  • Apartment

Year Built

  • Built in 1960

Lot Details

  • 4.03 Acre Lot
  • No Common Walls
  • Density is 6-10 Units/Acre
  • 292230028,292230029, 292230030

Parking

  • 28 Car Garage

Interior Spaces

  • 24,900 Sq Ft Home
  • 1-Story Property

Bedrooms and Bathrooms

  • 6 Bedrooms
  • 3 Bathrooms

Listing and Financial Details

  • Tax Lot 64
  • Tax Tract Number 42515
  • Assessor Parcel Number 292160001

Community Details

Overview

  • No Home Owners Association
  • 20 Buildings
  • 28 Units

Building Details

  • 28 Separate Electric Meters
  • 28 Separate Gas Meters
  • 28 Separate Water Meters
  • Electric Expense $419
  • Insurance Expense $10,343
  • Professional Management Expense $15,775
  • Trash Expense $8,852
  • Water Sewer Expense $17,766
  • New Taxes Expense $38,055
  • Operating Expense $1,330,247
  • Gross Income $283,560
  • Net Operating Income $141,806

Property Details

Home Type

Apartment

Year Built

Built in 1960

Lot Details

0

Parking

28

Listing Details

  • Price Per Unit: 114285
  • Professional Management Expense: 15775.00
  • Property Attached: No
  • Water Sewer Expenses: 17766.00
  • Zoning: M-1
  • Property Sub Type: Apartment
  • Property Type: Residential Income
  • Parcel Number: 292160001
  • Year Built: 1960
  • Special Features: None

Interior Features

  • Stories: 1
  • Common Walls: No Common Walls
  • Levels: One
  • Price Per Square Foot: 130.52

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 28.00
  • Total Parking Spaces: 28.00

Utilities

  • Laundry: No
  • Sewer: Public Sewer
  • Trash Expense: 8852.00
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Curbs

Lot Info

  • Additional Parcels: Yes
  • Additional Parcels Description: 292230028,292230029, 292230030
  • Land Lease: No
  • Lot Features: 6-10 Units/Acre
  • Lot Size Sq Ft: 175546.80
  • Lot Size Acres: 4.0300

Multi Family

  • Average1 Bed Area: 650 Square Feet
  • Average2 Bed Area: 850 Square Feet
  • Average3 Bed Area: 1017 Square Feet
  • Electric Expense: 419.00
  • Gross Income: 283560.00
  • Gross Scheduled Income: 283560.00
  • Insurance Expense: 10343.00
  • Lot Size Area: 4.0300 Acres
  • Net Operating Income: 141806.00
  • Number Of Separate Electric Meters: 28
  • Number Of Separate Gas Meters: 28
  • Number Of Separate Water Meters: 28
  • Number Of Units Total: 28
  • Operating Expense: 133247.00
  • Rent Control: No
  • Total Expenses: 1330247.00

Tax Info

  • New Taxes Expense: 38055.00
  • Tax Census Tract: 425.15
  • Tax Lot: 64
  • Tax Tract Number: 042515

Range of Values:

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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 Change Sq Ft Price
11/15/2018 11/15/18 Sold $3,250,000 0.0% $131 / Sq Ft
06/20/2018 06/20/18 Off Market $3,250,000 -- --
06/13/2018 06/13/18 For Sale $3,200,000 -- $129 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • D

    Seller's Agent in 2018

    David Lin

    MARCUS & MILLICHAP

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: CV18140863

California Regional Multiple Listing Service (CRMLS)

APN: 292-230-029

California Riverside County Moreno Valley 92553 Sunnymead

23756 Sunnymead Blvd, Moreno Valley, CA

This home is located at 23756 Sunnymead Blvd, Moreno Valley, CA 92553 since 13 June 2018. This property was built in 1960. 23756 Sunnymead Blvd is a home located in Riverside County with nearby schools including Sunnymead Elementary School, Sunnymead Middle School, and Moreno Valley High School.

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.

California Regional Multiple Listing Service (CRMLS) 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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