NOT LISTED FOR SALE

40320 Johnston Ave Hemet, CA 92544

Estimated Value: $676,000 - $801,000

11 Beds
5 Baths
5,304 Sq Ft
$142/Sq Ft Est. Value

Last Sold September 27, 2024

Last sale price $760,000 $143 Per Sq Ft

Current estimated payment $4,405/month

3 Days on Market

Highlights

  • 0.7 Acre Lot
  • Cooling System Mounted To A Wall/Window
  • Vinyl Fence
  • No HOA
  • Laundry Room
  • 1-Story Property

About This Home

As of September 2024

STRONG CASH FLOW FOUR UNIT PROPERTY WITH $6,280 A MONTH IN RENTAL INCOME ON JUST UNDER AN ACRE. THE FRONT HOUSE HAS FOUR BEDROOMS AND TWO BATHS AND A SEPARATE STUDIO UNIT WITH VAULTED CEILINGS AND A HUGE WOOD BURNING FIREPLACE. ALSO ON THE LOT THERE IS A THREE BEDROOM ONE BATH HOUSE AND ALSO A FOUR BEDROOM ONE BATH HOUSE ALL FULLY RENTED. AT THE BACK END OF THE PROPERTY THERE IS EVEN MORE ROOM TO ADD UP TO TWO ADU'S OR TINY HOUSES (CHECK WITH CITY) FOR EVEN MORE ADDITIONAL INCOME ON THIS CASH FLOW OPPORTUNITY.

Last Agent to Sell the Property

Ruben Gutierrez

Feigen Realty Group Brokerage Phone: 562-242-8191 License #01750547 Listed on: 08/20/2024

Last Buyer's Agent

Unknown Member

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1953

Lot Details

  • 0.7 Acre Lot
  • No Common Walls
  • Vinyl Fence
  • Block Wall Fence
  • Density is up to 1 Unit/Acre

Home Design

  • Triplex

Interior Spaces

  • 5,304 Sq Ft Home
  • 1-Story Property

Bedrooms and Bathrooms

  • 11 Bedrooms
  • 5 Bathrooms

Laundry

  • Laundry Room
  • Laundry Located Outside

Outdoor Features

  • Exterior Lighting

Utilities

  • Cooling System Mounted To A Wall/Window
  • Conventional Septic
  • Sewer Paid

Listing and Financial Details

  • Tenant pays for cable TV, electricity, sewer, trash collection
  • Assessor Parcel Number 447201006

Community Details

Overview

  • No Home Owners Association
  • 3 Buildings
  • 4 Units

Building Details

  • 4 Leased Units
  • 3 Separate Electric Meters
  • 3 Separate Gas Meters
  • 1 Separate Water Meter
  • Insurance Expense $2,850
  • Maintenance Expense $2,400
  • Professional Management Expense $5,457
  • New Taxes Expense $7,500
  • Operating Expense $18,207
  • Gross Income $75,959
  • Net Operating Income $57,752

Property Details

Home Type

Multi-Family

Year Built

Built in 1953

Lot Details

0

Listing Details

  • Professional Management Expense: 5457.00
  • Property Attached: No
  • Road Frontage Type: City Street
  • Road Surface Type: Paved
  • Property Sub Type: Triplex
  • Property Type: Residential Income
  • Parcel Number: 447201006
  • Year Built: 1953
  • Special Features: None

Interior Features

  • Stories: 1
  • Common Walls: No Common Walls
  • Levels: One
  • Price Per Square Foot: 143.29

Exterior Features

  • Fence: Yes
  • Fencing: Block, Vinyl
  • Pool Private: No
  • Spa: No

Utilities

  • Laundry: Yes
  • Laundry Features: Inside, Outside
  • Sewer: Conventional Septic, Sewer Paid
  • Water Source: Public
  • Cooling: Wall/Window Unit(s)
  • Cooling: Yes

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Storm Drains, Street Lights

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 0-1 Unit/Acre, Lot 20000-39999 Sqft
  • Lot Size Sq Ft: 30492.00
  • Lot Size Acres: 0.7000
  • Latitude Manual: 33.73362200

Rental Info

  • Tenant Pays: Cable TV, Electricity, Sewer, Trash Collection

Multi Family

  • Gross Income: 75959.00
  • Gross Scheduled Income: 75959.00
  • Insurance Expense: 2850.00
  • Lot Size Area: 30492.0000 Square Feet
  • Maintenance Expense: 2400.00
  • Net Operating Income: 57752.00
  • Number Of Separate Electric Meters: 3
  • Number Of Separate Gas Meters: 3
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 4
  • Number Of Units Total: 4
  • Number With Range: 4
  • Operating Expense: 18207.00
  • Rent Control: No
  • Total Actual Rent: 6282.00
  • Total Expenses: 18207.00

Tax Info

  • New Taxes Expense: 7500.00

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Aug 20, 2024
Closed on
Sep 9, 2024
Sold by
Melcar Investments Inc
Bought by
Park Sung Hyun and Lee Mi Young
Seller's Agent
Ruben Gutierrez
Feigen Realty Group
Buyer's Agent
Unknown Member
List Price
$749,000
Sold Price
$760,000
Premium/Discount to List
$11,000
1.47%
Views
21
Current Estimated Value
$762,636

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$2,636
Avg. Annual Appreciation
-0.48%
Original Mortgage
$532,000
Outstanding Balance
$526,042
Interest Rate
6.49%
Mortgage Type
New Conventional
Estimated Equity
$229,103

Purchase Details

Closed on
Jun 24, 2021
Sold by
Melcar Investments Inc
Bought by
Melcar Investments Inc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$404,000
Interest Rate
2.9%
Mortgage Type
New Conventional

Purchase Details

Closed on
Apr 3, 2018
Sold by
Ramirez Celeste Chavez and Ramirez Carlos E
Bought by
Melcar Investmens Inc

Purchase Details

Closed on
Nov 17, 2017
Sold by
Ramirez Carlos E and Ramirez Celeste Chavez
Bought by
Ramirez Celeste Chavez and Ramirez Carlos E

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$260,000
Interest Rate
3.91%
Mortgage Type
New Conventional

Purchase Details

Closed on
Jul 12, 2017
Sold by
Melcar Investments Inc
Bought by
Ramirez Carlos E and Ramirez Celeste Chavez

Purchase Details

Listed on
May 16, 2016
Closed on
Jul 19, 2016
Sold by
Fannie Mae
Bought by
Melcar Investments Inc
Seller's Agent
Sonya Feigen
Vogler Feigen Realty
Buyer's Agent
Sonya Feigen
Vogler Feigen Realty
List Price
$215,000
Sold Price
$181,000
Premium/Discount to List
-$34,000
-15.81%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
16.21%
Original Mortgage
$213,300
Interest Rate
3.6%
Mortgage Type
Construction

Purchase Details

Closed on
Apr 15, 2015
Sold by
Schembri James M and Schembri Miriam J
Bought by
Federal National Mortgage Association

Purchase Details

Closed on
Mar 29, 2007
Sold by
The 40320 Johnson Land Trust
Bought by
Schembri James M and Schembri Miriam J

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$544,185
Interest Rate
5.94%
Mortgage Type
Reverse Mortgage Home Equity Conversion Mortgage

Purchase Details

Closed on
Dec 9, 2005
Sold by
Schembri Randy L
Bought by
The 40320 Johnson Land Trust

Purchase Details

Closed on
Mar 26, 2004
Sold by
Schembri Laurie Marie
Bought by
Schembri Randy L

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$110,000
Interest Rate
5.57%
Mortgage Type
Commercial

Purchase Details

Closed on
Feb 2, 2001
Sold by
Tibbitts William Ronald
Bought by
Schembri Randy L

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$85,000
Interest Rate
7.13%
Mortgage Type
Seller Take Back
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
Park Sung Hyun $760,000 First American Title
Melcar Investments Inc -- Pacific Coast Title Company
Melcar Investmens Inc -- None Available
Ramirez Celeste Chavez -- Usa National Title Company I
Ramirez Carlos E -- None Available
Melcar Investments Inc $181,000 Lawyers Title
Federal National Mortgage Association $221,000 Accommodation
Schembri James M -- Lenders Choice Title Company
The 40320 Johnson Land Trust -- --
Schembri Randy L -- Fidelity National Financial
Schembri Randy L $85,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Park Sung Hyun $532,000
Previous Owner Melcar Investments Inc $404,000
Previous Owner Ramirez Celeste Chavez $260,000
Previous Owner Melcar Investments Inc $213,300
Previous Owner Schembri James M $544,185
Previous Owner Schembri Randy L $110,000
Previous Owner Schembri Randy L $85,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
09/27/2024 09/27/24 Sold $760,000 +1.5% $143 / Sq Ft
08/23/2024 08/23/24 Pending -- -- --
08/20/2024 08/20/24 For Sale $749,000 +313.8% $141 / Sq Ft
07/26/2016 07/26/16 Sold $181,000 -15.8% $60 / Sq Ft View Prior Sale
06/17/2016 06/17/16 Pending -- -- --
05/16/2016 05/16/16 For Sale $215,000 0.0% $72 / Sq Ft
05/11/2016 05/11/16 Pending -- -- --
05/03/2016 05/03/16 For Sale $215,000 0.0% $72 / Sq Ft
04/15/2016 04/15/16 Pending -- -- --
04/06/2016 04/06/16 For Sale $215,000 0.0% $72 / Sq Ft
04/01/2016 04/01/16 Pending -- -- --
03/20/2016 03/20/16 For Sale $215,000 0.0% $72 / Sq Ft
03/16/2016 03/16/16 Pending -- -- --
03/16/2016 03/16/16 Price Changed $215,000 -14.0% $72 / Sq Ft
02/25/2016 02/25/16 For Sale $250,000 -- $83 / 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 $5,344 $760,000 $125,000 $635,000
2023 $5,344 $440,672 $58,970 $381,702
2022 $4,973 $432,032 $57,814 $374,218
2021 $4,890 $423,562 $56,681 $366,881
2020 $4,828 $419,220 $56,100 $363,120
2019 $5,069 $402,900 $56,100 $346,800
2018 $4,485 $395,000 $55,000 $340,000
2017 $2,107 $181,000 $45,000 $136,000
2016 $2,918 $187,820 $50,762 $137,058
2015 $2,890 $185,000 $50,000 $135,000
2014 -- $183,000 $50,000 $133,000
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: SW24152767

California Regional Multiple Listing Service (CRMLS)

APN: 447-201-006