$3,575,000
SOLD FEB 4, 2022

25585 New Chicago Ave Hemet, CA 92544

43 Beds
41 Baths
24,335 Sq Ft
0.71 Acres

Recently Sold

$147 Per Sq Ft

7% Below List Price

12 Days on Market

Highlights

  • Mountain View
  • Laundry Room
  • Outdoor Grill
  • Community Pool
  • Tile Flooring
  • Central Heating and Cooling System

About This Home

As of February 2022

Casa Grande is a Well Located Secure Multi-Family Property in the County of Riverside within the Influence of the Ever-Growing Cities of Hemet and San Jacinto. Walking Distance to Shopping, Close to Florida Avenue, and the Ramona Expressway. As You Enter the Secure Building you are Greeted by a Fountain of Rose Bushes on the Left, the Swimming Pool ahead with the Barbecue Area to the Right. You are Now in the Center Courtyard Ready to Access The Individual Units. All of the Units have a Private Patio Off the Rear of the Unit or a Common Deck Area in Front of the Units. All Units have Free Standing Stove, Microwave, Dishwasher, Garbage Disposal, Ceiling Fan Lights, and Central Heating and Air Conditioning. All flooring is Either Porcelain Tile, Wood Look Vinyl Plank, or Carpet. The Upper Decks are Covered with Outdoor Carpeting. This Property is Well Maintained the Present Management Strives to Make it a Great Place to Live.

Last Agent to Sell the Property

Bill Bailey

Bill Bailey Broker License #00444723 Listed on: 09/28/2021

Last Buyer's Agent

Ken Ishiki

Lyon Stahl Investment Real Estate License #01438720

Lyon Stahl Investment Real Estate

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1976

Lot Details

  • 0.71 Acre Lot
  • Property fronts an alley
  • No Common Walls
  • Density is 21-25 Units/Acre

Interior Spaces

  • 24,335 Sq Ft Home
  • Ceiling Fan
  • Mountain Views
  • Laundry Room

Kitchen

  • Gas Range
  • Microwave
  • Dishwasher
  • Disposal

Flooring

  • Carpet
  • Tile
  • Vinyl

Bedrooms and Bathrooms

  • 43 Bedrooms
  • 41 Bathrooms

Parking

  • 21 Parking Spaces
  • Parking Available
  • Assigned Parking

Utilities

  • Central Heating and Cooling System
  • Natural Gas Connected
  • Water Heater
  • Sewer Paid

Additional Features

  • Outdoor Grill
  • Suburban Location

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Tax Lot 3
  • Tax Tract Number 4635
  • Assessor Parcel Number 551400003
  • $312 per year additional tax assessments

Community Details

Recreation

  • Community Pool

Building Details

  • 22 Separate Electric Meters
  • 22 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $2,632
  • Fuel Expense $577
  • Gardener Expense $2,400
  • Insurance Expense $8,698
  • Maintenance Expense $14,700
  • Other Expense $1,388
  • Pool Expense $2,160
  • Professional Management Expense $14,400
  • Trash Expense $5,031
  • Water Sewer Expense $15,475
  • New Taxes Expense $45,596
  • Operating Expense $113,057
  • Gross Income $287,279
  • Net Operating Income $165,604

Additional Features

  • 22 Units
  • Laundry Facilities

Property Details

Home Type

Multi-Family

Year Built

Built in 1976

Lot Details

0

Listing Details

  • CapRate: 4.30
  • Price Per Unit: 175000
  • Professional Management Expense: 14400.00
  • Property Attached: No
  • Road Frontage Type: Alley, City Street
  • Road Surface Type: Alley Paved, Paved
  • View: Yes
  • Water Sewer Expenses: 15475.00
  • Zoning: R-3
  • Property Type: Residential Income
  • Gardener Expense: 2400.00
  • Parcel Number: 551400003
  • Year Built: 1976
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: No
  • Interior Amenities: Ceiling Fan(s)
  • Common Walls: No Common Walls
  • Flooring: Carpet, Tile, Vinyl
  • Appliances: Yes
  • Price Per Square Foot: 146.91

Exterior Features

  • View: Mountain(s)
  • Pool Expense: 2160.00
  • Pool Features: Community
  • Pool Private: No

Garage/Parking

  • Parking: Yes
  • Parking Features: Assigned
  • Total Parking Spaces: 21.00

Utilities

  • Utilities: Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
  • Heating: Yes
  • Laundry: Yes
  • Appliances: Barbecue, Dishwasher, Disposal, Gas Range, Microwave, Water Heater
  • Heating Type: Central
  • Laundry Features: Community
  • Sewer: Sewer Paid
  • Trash Expense: 5031.00
  • Water Source: Public
  • Cooling: Central Air
  • Cooling: Yes

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Curbs, Suburban

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 21-25 Units/Acre
  • Lot Size Sq Ft: 30928.00
  • Lot Size Acres: 0.7100

Rental Info

  • Tenant Pays: Electricity, Gas

Multi Family

  • Average1 Bed Area: 800 Square Feet
  • Average2 Bed Area: 1050 Square Feet
  • Average3 Bed Area: 1300 Square Feet
  • Electric Expense: 2632.00
  • Fuel Expense: 577.00
  • Gross Income: 287279.00
  • Gross Multiplier: 13.40
  • Gross Operating Income: 278660.00
  • Gross Scheduled Income: 287279.00
  • Insurance Expense: 8698.00
  • Lot Size Area: 30928.0000 Square Feet
  • Maintenance Expense: 14700.00
  • Net Operating Income: 165604.00
  • Number Of Separate Electric Meters: 22
  • Number Of Separate Gas Meters: 22
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 22
  • Operating Expense: 113057.00
  • Operating Expense Percent: 41.00
  • Other Expense: 1388.00
  • Other Expense Description: Phone
  • Rent Control: No
  • Total Expenses: 113057.00
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 45596.00
  • Tax Census Tract: 437.02
  • Tax Lot: 3
  • Tax Tract Number: 4635-1
  • TaxOtherAnnualAssessmentAmount: 312.00

Range of Values:

Collateral Analytics

Collateral Analytics Collateral Analytics AVMs (Automated Valuation Model) employ a number of statistical approaches combined with neighborhood-specific comparable selection guarantees the most up-to-date and precise valuations.

Not Available

Collateral Analytics does not have data for the current month. Please view the chart for historical values.

ICE

ICE Mortgage Technology ICE Mortgage Technology’s AVM (Automated Valuation Model) is a state-of-the-art online residential property valuation tool that provides a quick and accurate estimate of the value of almost any home in the U.S.

Not Available

ICE Mortgage Technology does not have data for the current month. Please view the chart for historical values.

First American

First American First American Data & Analytics’ next-generation AVM combines unrivaled data assets with a blended ensemble of valuation models to produce highly accurate, reliable valuations you can trust.

Not Available

First American does not have data for the current month. Please view the chart for historical values.

Quantarium

Quantarium Quantarium’s valuation service, repeatedly proven the industry’s most accurate and comprehensive, is supercharged with a self-learning and auto-tuning AI engine that continually becomes smarter and more accurate as it processes daily inputs from the industry’s leading RE data lake.

Not Available

Quantarium does not have data for the current month. Please view the chart for historical values.

Average Value
Not Available
List Price
Sold Price
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area

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
02/04/2022 02/04/22 Sold $3,575,000 0.0% $147 / Sq Ft
12/01/2021 12/01/21 Rented $1,200 0.0% --
11/16/2021 11/16/21 For Rent $1,200 0.0% --
10/10/2021 10/10/21 Pending -- -- --
09/28/2021 09/28/21 For Sale $3,850,000 0.0% $158 / Sq Ft
06/21/2019 06/21/19 Rented $900 0.0% --
06/09/2019 06/09/19 For Rent $900 -- --
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Section Image
  • Section Image
See All Agents

Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW21214791

California Regional Multiple Listing Service (CRMLS)

APN: 551-400-003