A
Seller's Agent in 2017
Alex Garcia
MARCUS & MILLICHAP
42221 Main St Temecula, CA 92590
Old Town Temecula Neighborhood
6
Beds
6
Baths
12,464
Sq Ft
0.64
Acres
Highlights
- 27,878 Sq Ft lot
- Level Lot
- 5-minute walk to Town Square Park
- Margarita Middle School Rated A-
About This Home
As of February 2017Main Street Apartments is a 16-unit multi-family investment property in the city of Temecula, CA. With two stories and ample parking, Main Street Apartments has an accessible and attractive design. Ten of the units have been fully renovated and are achieving significant rent premiums. Main Street Apartments presents an investor with the opportunity to add value by renovating the remaining six units and taking advantage of the proven upside in rents.
The property also has a phenomenal location, situated adjacent to the historic Old Town Temecula and minutes from other popular destinations. Interstate 15 is easily accessible from Main Street Apartments, connecting it to Riverside, and eventually Las Vegas in the north, and San Diego in the south, creating ease of access between the coast and inland regions. Temecula is an important tourist destination in Southern California, attracting millions of visitors each year. Temecula' s population is growing at a rapid pace. Within 5 miles of Main Street Apartments, the population has almost doubled between the years 2000 and 2014, increasing from 74,674 to 141,120. Main Street Apartments presents the opportunity to purchase a quality property with proven upside in an A+ Temecula location.
Last Agent to Sell the Property
Alex Garcia
MARCUS & MILLICHAP License #01072982 Listed on: 01/10/2017
Last Buyer's Agent
Alex Garcia
MARCUS & MILLICHAP License #01072982 Listed on: 01/10/2017
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1985
Lot Details
- 0.64 Acre Lot
- Two or More Common Walls
- Level Lot
- Density is 21-25 Units/Acre
Home Design
- Apartment
Interior Spaces
- 12,464 Sq Ft Home
- 2-Story Property
Bedrooms and Bathrooms
- 6 Bedrooms
- 6 Bathrooms
Parking
- 32 Open Parking Spaces
- 32 Parking Spaces
Listing and Financial Details
- Tax Lot B
- Tax Tract Number 512
- Assessor Parcel Number 922053038
Community Details
Overview
- 2 Buildings
- 16 Units
Building Details
- 16 Separate Electric Meters
- 16 Separate Gas Meters
- 1 Separate Water Meter
- Electric Expense $1,000
- Gardener Expense $2,500
- Insurance Expense $7,063
- Maintenance Expense $11,844
- Pest Control $951
- Professional Management Expense $15,860
- Supplies Expense $1,791
- Trash Expense $3,000
- Water Sewer Expense $10,318
- New Taxes Expense $32,007
- Operating Expense $89,686
- Gross Income $217,022
- Net Operating Income $127,336
Create a Home Valuation Report for This Property
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 02/16/2017 02/16/17 | Sold | $2,800,000 | -0.9% | $225 / Sq Ft |
| 02/09/2017 02/09/17 | Pending | -- | -- | -- |
| 01/10/2017 01/10/17 | For Sale | $2,825,000 | -- | $227 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History Compared to Growth
Agents Affiliated with this Home
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: CV17015745
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.
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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