NOT LISTED FOR SALE

4550 E Florida Ave Hemet, CA 92544

Estimated Value: $482,000 - $572,000

8 Beds
8 Baths
4,000 Sq Ft
$135/Sq Ft Est. Value

Last Sold May 17, 2016

Last sale price $460,000 $115 Per Sq Ft

Est. 18% increase in value since last sale

Current estimated payment $3,087/month

11 Days on Market

About This Home

As of May 2016

2 CONTIGOUS LOTS EACH WITH 2 DUPLEXES FOR A TOTAL OF 4 DUPLEXES. ALL UNITS REPLUMBED,REWIRED,100AMP SERVICES,CERAMIC TILED KITS & BTHS. ENERGY WINDOWS, ETC.. DO NOT DISTURB TENANTS!!!!BOTH LOTS MUST CLOSE ESCROW SIMULTANEOUSLY.

Last Agent to Sell the Property

Matt Alderman

Matt Alderman, Broker License #00552391 Listed on: 04/21/2016

Last Buyer's Agent

Matt McPherson

Coleman and Associates License #01362837

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1950

Lot Details

  • 0.27 Acre Lot
  • 1 Common Wall
  • Level Lot

Parking

  • 15 Parking Spaces

Home Design

  • 4,000 Sq Ft Home
  • Property Attached

Bedrooms and Bathrooms

  • 8 Bedrooms
  • 8 Bathrooms

Additional Features

  • Rain Gutters
  • Conventional Septic

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Assessor Parcel Number 551180025

Community Details

Overview

  • 4 Buildings
  • 8 Units

Building Details

  • 9 Separate Electric Meters
  • 9 Separate Gas Meters
  • 1 Separate Water Meter
  • Gardener Expense $1,200
  • Insurance Expense $2,400
  • Maintenance Expense $2,000
  • Trash Expense $750
  • Water Sewer Expense $1,200
  • New Taxes Expense $5,664
  • Gross Income $4,195
  • Net Operating Income $40,390

Property Details

Home Type

Multi-Family

Year Built

Built in 1950

Lot Details

0

Listing Details

  • Property Attached: Yes
  • Subdivision Name Other: OTHR
  • Water Sewer Expenses: 1200.00
  • Property Type: Residential Income
  • Gardener Expense: 1200.00
  • Parcel Number: 551180025
  • Year Built: 1950
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: 1 Common Wall
  • Levels: One
  • Price Per Square Foot: 115.00

Exterior Features

  • Pool Private: No

Garage/Parking

  • Total Parking Spaces: 15.00

Utilities

  • Sewer: Conventional Septic
  • Trash Expense: 750.00
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Gutters

Lot Info

  • Lot Features: Level
  • Lot Size Sq Ft: 11648.00
  • Price Per Lot Square Foot: 39.49

Rental Info

  • Tenant Pays: Electricity, Gas

Multi Family

  • Gross Income: 4195.00
  • Gross Scheduled Income: 50340.00
  • Insurance Expense: 2400.00
  • Maintenance Expense: 2000.00
  • Net Operating Income: 40390.00
  • Number Of Separate Electric Meters: 9
  • Number Of Separate Gas Meters: 9
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 8
  • Number With Range: 8
  • Operating Expense: 9950.00
  • Other Income Description: laundry is not set up for use.
  • Rent Control: No

Tax Info

  • New Taxes Expense: 5664.00
  • Taxes Percent: 1.00
  • Tax Tract Number: 00

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Apr 21, 2016
Closed on
May 10, 2016
Sold by
Alderman Matthew S and Alderman Karen D
Bought by
The Dallas L Milton Trust
Seller's Agent
Matt Alderman
Matt Alderman, Broker
Buyer's Agent
Matt McPherson
Coleman and Associates
List Price
$471,800
Sold Price
$460,000
Premium/Discount to List
-$11,800
-2.5%
Current Estimated Value
$541,333

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$81,333
Avg. Annual Appreciation
1.70%

Purchase Details

Closed on
Oct 1, 2015
Sold by
Alderman Matthew S and Alderman Karen D
Bought by
Matthew S Alderman & Karen D Alderman Re

Purchase Details

Closed on
Jan 6, 2012
Sold by
Alderman Matthew S
Bought by
Alderman Matthew S and Alderman Karen D

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$93,750
Interest Rate
3.96%
Mortgage Type
Commercial

Purchase Details

Closed on
Jan 5, 2012
Sold by
Alderman Karen D
Bought by
Alderman Matthew S

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$93,750
Interest Rate
3.96%
Mortgage Type
Commercial

Purchase Details

Closed on
Sep 19, 1997
Sold by
Williams Leland M
Bought by
Alderman Matthew S and Alderman Karen D

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$150,000
Interest Rate
7.16%
Mortgage Type
Seller Take Back

Purchase Details

Closed on
Dec 27, 1996
Sold by
Federal Home Loan Mortgage Corporation
Bought by
The Williams Living Trust

Purchase Details

Closed on
Nov 22, 1995
Sold by
Scott Delbert H
Bought by
Federal Home Loan Mortgage Corporation

Purchase Details

Closed on
Oct 31, 1995
Sold by
Costello Stephen and Costello Tina
Bought by
Scott Delbert
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
Not Available
List Price
Sold Price
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Purchase History

Date Buyer Sale Price Title Company
The Dallas L Milton Trust $460,000 None Available
Matthew S Alderman & Karen D Alderman Re -- None Available
Alderman Matthew S -- None Available
Alderman Matthew S -- None Available
Alderman Matthew S -- First American Title Company
Alderman Matthew S $150,000 --
The Williams Living Trust $45,000 First American Title Ins Co
Federal Home Loan Mortgage Corporation $45,000 American Title Ins Co
Scott Delbert -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Alderman Matthew S $93,750
Previous Owner Alderman Matthew S $150,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
05/17/2016 05/17/16 Sold $460,000 -2.5% $115 / Sq Ft
05/02/2016 05/02/16 Pending -- -- --
04/21/2016 04/21/16 For Sale $471,800 -- $118 / 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 $3,088 $272,267 $100,620 $171,647
2023 $3,088 $261,697 $96,714 $164,983
2022 $2,989 $256,567 $94,818 $161,749
2021 $2,940 $251,537 $92,959 $158,578
2020 $2,906 $248,958 $92,006 $156,952
2019 $2,843 $244,077 $90,202 $153,875
2018 $2,755 $239,292 $88,434 $150,858
2017 $2,723 $234,600 $86,700 $147,900
2016 $1,233 $101,133 $64,398 $36,735
2015 $1,229 $99,616 $63,432 $36,184
2014 $1,176 $97,667 $62,191 $35,476
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: SW16083302

California Regional Multiple Listing Service (CRMLS)

APN: 551-180-025