NOT LISTED FOR SALE
1 Bed
3 Baths
2,500 Sq Ft
0.27 Acre Lot

Sale Details

Date Sold: May 26, 2017

Last sale price $405,000 $162 Per Sq Ft

200 Days on Market

Highlights

  • No Units Above
  • Corner Lot
  • Cooling System Mounted To A Wall/Window

About This Home

As of May 2017

GREAT SIX UNITS RENTAL INCOME PROPERTY, LOCATED IN THE CITY OF LAKE ELSINORE, WALKING DISTANCE TO THE LAKE. ALL UNITS ARE CURRENTLY RENTED. TWO UNITS ARE ONE BEDROOM AND ONE BATH APARTMENTS. FOUR UNITS ARE STUDIO AND ONE BATH APARTMENTS.
GREAT FOR INVESTORS, GOOD CASH FLOW.

Last Agent to Sell the Property

Michelle Pham

Esen Real Estate Services License #01223872 Listed on: 08/28/2016

Last Buyer's Agent

Michael Oliver

Golden Eagle Properties License #01236295

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1962

Lot Details

  • 11,905 Sq Ft Lot
  • No Units Above
  • No Units Located Below
  • 1 Common Wall
  • Corner Lot

Home Design

  • 2,500 Sq Ft Home
  • Property Attached

Bedrooms and Bathrooms

  • 1 Bedroom
  • 3 Bathrooms

Additional Features

  • Exterior Lighting
  • Cooling System Mounted To A Wall/Window

Listing and Financial Details

  • Tax Lot 8
  • Tax Tract Number 6
  • Assessor Parcel Number 373161008

Community Details

Overview

  • 5 Buildings
  • 6 Units

Building Details

  • 6 Leased Units
  • 1 Separate Electric Meter
  • 1 Separate Gas Meter
  • 1 Separate Water Meter
  • Electric Expense $3,200
  • Insurance Expense $1,200
  • Trash Expense $1,800
  • Water Sewer Expense $2,400
  • New Taxes Expense $1,947
  • Operating Expense $11,147
  • Gross Income $3,850
  • Net Operating Income $34,453

Property Details

Home Type

Multi-Family

Year Built

Built in 1962

Lot Details

0.27 Acres

Listing Details

  • Property Attached: Yes
  • Road Frontage Type: City Street
  • Water Sewer Expenses: 2400.00
  • Zoning: R3
  • Property Type: Residential Income
  • Parcel Number: 373161008
  • Year Built: 1962
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: 1 Common Wall, No One Above, No One Below
  • Price Per Square Foot: 162.00

Exterior Features

  • Pool Private: No

Utilities

  • Utilities: Sewer Available
  • Trash Expense: 1800.00
  • Water Source: Public
  • Cooling: Wall/Window Unit(s)
  • Cooling: Yes

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Street Lights

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Corner Lot
  • Lot Size Sq Ft: 11905.00
  • Price Per Lot Square Foot: 37.78

Multi Family

  • Electric Expense: 3200.00
  • Gross Income: 3850.00
  • Gross Scheduled Income: 45600.00
  • Insurance Expense: 1200.00
  • Net Operating Income: 34453.00
  • Number Of Separate Electric Meters: 1
  • Number Of Separate Gas Meters: 1
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 6
  • Number Of Units Total: 6
  • Operating Expense: 11147.00
  • Rent Control: No
  • Total Actual Rent: 3850.00
  • Total Expenses: 11147.00

Tax Info

  • New Taxes Expense: 1947.00
  • Tax Lot: 8
  • Tax Tract Number: 006

Ownership 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 Name Owned For Owner Type

Purchase Details

Closed on
Mar 17, 2017
Sold by
Bought by

Purchase Details

Closed on
Nov 2, 2010
Sold by
Bought by

Purchase Details

Closed on
Oct 8, 2008
Sold by
Bought by

Purchase Details

Closed on
Jun 26, 2006
Sold by
Bought by

Purchase Details

Closed on
Apr 16, 2004
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$195,000
Interest Rate
0.0537%
Mortgage Type
Commercial

Purchase Details

Closed on
Feb 3, 2000
Sold by
Bought by
Source: Public Records
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase 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 Buyer Sale Price Title Company
$405,000 Orange Coast Title Company
-- None Available
-- None Available
-- None Available
-- Southland Title
$280,000 Lawyers Title
$72,000 Old Republic Title Company
Source: Public Records

Mortgage 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 Status Borrower Loan Amount
Previous Owner $195,000
Source: Public Records

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
05/26/2017 05/26/17 Sold $405,000 -7.9% $162 / Sq Ft
10/24/2016 10/24/16 Price Changed $439,800 -2.2% $176 / Sq Ft
08/30/2016 08/30/16 Price Changed $449,800 -10.0% $180 / Sq Ft
08/28/2016 08/28/16 For Sale $499,800 -- $200 / 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
2025 $4,931 $470,030 $104,449 $365,581
2023 $4,931 $451,780 $100,394 $351,386
2022 $4,776 $442,923 $98,426 $344,497
2021 $4,683 $434,240 $96,497 $337,743
2020 $4,591 $429,788 $95,508 $334,280
2019 $4,504 $421,362 $93,636 $327,726
2018 $4,418 $413,100 $91,800 $321,300
2017 $2,031 $182,135 $71,749 $110,386
2016 $1,960 $178,565 $70,343 $108,222
2015 $1,947 $175,886 $69,288 $106,598
2014 $1,883 $172,443 $67,932 $104,511
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: OC16189674

California Regional Multiple Listing Service (CRMLS)

APN: 373-161-008

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