NOT LISTED FOR SALE

Estimated Value: $1,256,000 - $1,366,000

8 Beds
8 Baths
3,792 Sq Ft
$347/Sq Ft Est. Value

Last Sold July 06, 2021

Last sale price $1,128,000 $297 Per Sq Ft

Est. 17% increase in value since last sale

Current estimated payment $8,347/month

6 Days on Market

Highlights

  • 4 Car Direct Access Garage
  • Laundry Room
  • Wood Fence
  • Buchanan Elementary School Rated A-
  • Central Heating and Cooling System
  • Wood Siding

About This Home

As of July 2021

Rare opportunity to obtain a 4 unit investment property in highly sought after area in Murrieta. This 4-plex is the most popular layout in the area, each unit containing 2 Bedroom 1.5 Bath Townhouse Style Units with garage and direct access to unit from garage. Additionally the only model that consists of laundry hookups for each unit in the garage. Units are 100% occupied by long term tenants. Upside in rental income bringing rents up to market. All units have private backyard/Patio area and additional uncovered parking on the lot. Large open area in back of unit D can be utilized for additional garages or storage to increase income.

Last Agent to Sell the Property

Dan Owens

Owens Commerical Investments License #01809597 Listed on: 05/27/2021

Last Buyer's Agent

Vartan Missirian

Legend Realtors License #01101090

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $13,452

Year Built

  • Built in 1987

Lot Details

  • 0.25 Acre Lot
  • Property fronts a private road
  • Two or More Common Walls
  • Wood Fence

HOA Fees

  • $60 Monthly HOA Fees

Parking

  • 4 Car Direct Access Garage
  • Parking Available
  • Single Garage Door
  • Driveway Level
  • Assigned Parking

Home Design

  • Quadruplex
  • Planned Development
  • Slab Foundation
  • Fire Rated Drywall
  • Composition Roof
  • Wood Siding
  • Pre-Cast Concrete Construction
  • Stucco

Interior Spaces

  • 3,792 Sq Ft Home
  • 2-Story Property

Flooring

  • Carpet
  • Laminate

Bedrooms and Bathrooms

  • 8 Bedrooms
  • All Upper Level Bedrooms
  • 8 Bathrooms

Laundry

  • Laundry Room
  • Laundry in Garage

Additional Features

  • Rain Gutters
  • Central Heating and Cooling System

Listing and Financial Details

  • Tenant pays for cable TV, electricity, gas
  • Tax Lot 63
  • Tax Tract Number 4476
  • Assessor Parcel Number 913201003

Community Details

Overview

  • 4 Units

Building Details

  • 4 Leased Units
  • 4 Separate Electric Meters
  • 4 Separate Gas Meters
  • 1 Separate Water Meter
  • Gardener Expense $1,100
  • Insurance Expense $1,912
  • Maintenance Expense $4,233
  • Other Expense $720
  • Pest Control $612
  • Trash Expense $1,935
  • Water Sewer Expense $3,583
  • New Taxes Expense $11,188
  • Operating Expense $22,286
  • Gross Income $65,340
  • Net Operating Income $43,054

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$13,452

Year Built

Built in 1987

Lot Details

0

HOA Fees

$60 per month

Parking

4

Listing Details

  • CapRate: 4.30
  • Property Attached: Yes
  • Road Frontage Type: City Street, Private Road
  • Road Surface Type: Paved
  • Water Sewer Expenses: 3583.00
  • Zoning: R3
  • Property Sub Type: Quadruplex
  • Property Type: Residential Income
  • Gardener Expense: 1100.00
  • Parcel Number: 913201003
  • Year Built: 1987
  • Special Features: None

Interior Features

  • Fireplace: No
  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Flooring: Carpet, Laminate
  • Levels: Two
  • Price Per Square Foot: 297.47
  • Room Type: All Bedrooms Up

Exterior Features

  • Foundation: Slab
  • Fence: Yes
  • Fencing: Wood
  • Pool Private: No
  • Roof: Composition
  • Construction Materials: Concrete, Drywall Walls, Stucco, Wood Siding

Garage/Parking

  • Garage Spaces: 4.00
  • Parking: Yes
  • Parking Features: Assigned, Direct Garage Access, Driveway Level, Garage, Garage - Single Door
  • Total Parking Spaces: 4.00

Utilities

  • Heating: Yes
  • Laundry: Yes
  • Heating Type: Central
  • Laundry Features: In Garage
  • Pest Control Expense: 612.00
  • Sewer: Public Sewer
  • Trash Expense: 1935.00
  • Water Source: Public
  • Cooling: Central Air
  • Cooling: Yes

Condo/Co-op/Association

  • Association: Yes
  • Association Fee: 60.00
  • Association Fee Frequency: Monthly
  • Senior Community: No
  • Common Interest: Planned Development
  • Community Features: Curbs, Gutters

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Lot 10000-19999 Sqft
  • Lot Size Sq Ft: 10890.00
  • Lot Size Acres: 0.2500
  • Latitude Manual: 33.55383000

Rental Info

  • Tenant Pays: Cable TV, Electricity, Gas

Multi Family

  • Gross Income: 65340.00
  • Gross Multiplier: 15.30
  • Gross Scheduled Income: 65340.00
  • Insurance Expense: 1912.00
  • Lot Size Area: 10890.0000 Square Feet
  • Maintenance Expense: 4233.00
  • Net Operating Income: 43054.00
  • 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 Disposal: 4
  • Number With Patio: 4
  • Number With Range: 4
  • Operating Expense: 22286.00
  • Other Expense: 720.00
  • Other Expense Description: HOA
  • Rent Control: No
  • Total Actual Rent: 65340.00
  • Total Expenses: 22286.00

Tax Info

  • New Taxes Expense: 11188.00
  • Tax Census Tract: 505.00
  • Tax Lot: 63
  • Tax Tract Number: 4476

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
May 27, 2021
Closed on
Jun 25, 2021
Sold by
Genovese Ernest Andrew and Genovese Mary Christine
Bought by
Abadjian Haroutioun and Abadjian Marie
Seller's Agent
Dan Owens
Owens Commerical Investments
Buyer's Agent
Vartan Missirian
Legend Realtors
List Price
$999,900
Sold Price
$1,128,000
Premium/Discount to List
$128,100
12.81%
Current Estimated Value
$1,315,269

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$187,269
Avg. Annual Appreciation
3.77%
Original Mortgage
$728,000
Outstanding Balance
$661,977
Interest Rate
2.9%
Mortgage Type
New Conventional
Estimated Equity
$653,292

Purchase Details

Listed on
Nov 20, 2015
Closed on
Dec 3, 2015
Sold by
Hilts David
Bought by
Genovese Ernest Andrew and Genovese Mary Christine
Seller's Agent
Stephen Hooper
Realty ONE Group Southwest
Buyer's Agent
Dan Owens
Owens Commerical Investments
List Price
$649,900
Sold Price
$625,000
Premium/Discount to List
-$24,900
-3.83%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
11.20%

Purchase Details

Closed on
May 14, 2007
Sold by
Deutsche Bank National Trust Co
Bought by
Hilts David

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$450,000
Interest Rate
6.14%
Mortgage Type
Commercial

Purchase Details

Closed on
Jan 12, 2007
Sold by
Fletes David
Bought by
Deutsche Bank National Trust Co

Purchase Details

Closed on
Mar 7, 2006
Sold by
Fletes Mari A
Bought by
Fletes David

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$640,000
Interest Rate
7.95%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
May 19, 2000
Sold by
Cynthia Fletes
Bought by
Fletes David
Source: Public Records

Range of Values:

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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
Abadjian Haroutioun $1,128,000 Stewart Ttl Guaranty Co Com
Genovese Ernest Andrew $625,000 Lawyers Title
Hilts David $651,000 First American Title
Deutsche Bank National Trust Co $586,500 None Available
Fletes David -- United Title Company Inland
Fletes David -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Abadjian Haroutioun $728,000
Previous Owner Hilts David $417,000
Previous Owner Hilts David $450,000
Previous Owner Fletes David $640,000
Previous Owner Fletes David $445,250
Previous Owner Fletes David $77,283
Previous Owner Williams Curvis D $204,825
Previous Owner Fletes David $217,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
07/06/2021 07/06/21 Sold $1,128,000 +12.8% $297 / Sq Ft
06/02/2021 06/02/21 Pending -- -- --
05/27/2021 05/27/21 For Sale $999,900 +60.0% $264 / Sq Ft
12/17/2015 12/17/15 Sold $625,000 -3.8% $208 / Sq Ft
12/01/2015 12/01/15 Pending -- -- --
11/20/2015 11/20/15 For Sale $649,900 -- $217 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

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 $13,452 $1,197,042 $348,076 $848,966
2023 $13,452 $1,150,560 $334,560 $816,000
2022 $13,404 $1,128,000 $328,000 $800,000
2021 $8,347 $683,526 $174,982 $508,544
2020 $8,267 $676,518 $173,188 $503,330
2019 $8,116 $663,254 $169,793 $493,461
2018 $7,968 $650,250 $166,464 $483,786
2017 $7,863 $637,500 $163,200 $474,300
2016 $7,764 $625,000 $160,000 $465,000
2015 $6,440 $508,000 $130,000 $378,000
2014 $4,773 $375,000 $130,000 $245,000
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: OC21113318

California Regional Multiple Listing Service (CRMLS)

APN: 913-201-003