NOT LISTED FOR SALE

534 Montecito Ave Hemet, CA 92543

Estimated Value: $656,000 - $1,044,000

2 Beds
2 Baths
3,800 Sq Ft
$208/Sq Ft Est. Value

Last Sold August 31, 2018

Last sale price $435,000 $114 Per Sq Ft

Est. 82% increase in value since last sale

Current estimated payment $4,596/month

84 Days on Market

Highlights

  • All Bedrooms Downstairs
  • Laundry Room
  • Level Lot
  • Living Room
  • Central Heating and Cooling System

About This Home

As of August 2018

Four 2/2 units with one of the units, Apt. D, having both living room and family room. The large unit has a fireplace in the living room. All 4 units have 2 car garage, inside laundry and central h/a. The roof is approximately 15 years old. The front unit is now vacant and being made rent ready with: new carpet, paint, window coverings, etc.

Last Agent to Sell the Property

Matt Alderman

Matt Alderman, Broker License #00552391 Listed on: 05/02/2018

Last Buyer's Agent

Francis Enriquez

Ladera Home Realty License #01461203

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1980

Lot Details

  • 0.27 Acre Lot
  • 1 Common Wall
  • Level Lot

Parking

  • 8 Car Garage

Home Design

  • Property Attached
  • Composition Roof

Interior Spaces

  • 3,800 Sq Ft Home
  • Living Room
  • Laundry Room

Kitchen

  • Gas Cooktop
  • Dishwasher

Bedrooms and Bathrooms

  • 2 Bedrooms
  • All Bedrooms Down
  • 2 Bathrooms

Utilities

  • Central Heating and Cooling System
  • Gas Water Heater
  • Sewer Paid

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Tax Tract Number 99
  • Assessor Parcel Number 446321011

Community Details

Overview

  • 4 Units

Building Details

  • 4 Separate Electric Meters
  • 4 Separate Gas Meters
  • 1 Separate Water Meter
  • Insurance Expense $1,200
  • Trash Expense $1,800
  • Water Sewer Expense $3,600
  • New Taxes Expense $7,000
  • Operating Expense $13,600
  • Net Operating Income $37,100

Property Details

Home Type

Multi-Family

Year Built

Built in 1980

Lot Details

0

Parking

8

Listing Details

  • Assessments: Yes
  • Property Attached: Yes
  • Water Sewer Expenses: 3600.00
  • Zoning: R3
  • Property Type: Residential Income
  • Parcel Number: 446321011
  • Year Built: 1980
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: 1 Common Wall
  • Appliances: Yes
  • Price Per Square Foot: 114.47
  • Room Type: All Bedrooms Down, Kitchen, Laundry, Living Room, Main Floor Bedroom, Main Floor Master Bedroom, Master Bathroom, Master Bedroom

Exterior Features

  • Pool Private: No
  • Roof: Composition

Garage/Parking

  • Garage Spaces: 8.00
  • Total Parking Spaces: 8.00

Utilities

  • Utilities: Sewer Connected
  • Heating: Yes
  • Laundry: Yes
  • Appliances: Dishwasher, Gas Cooktop, Gas Water Heater
  • Heating Type: Central
  • Laundry Features: Individual Room
  • Sewer: Sewer Paid
  • Trash Expense: 1800.00
  • Water Source: Public
  • Cooling: Central Air
  • Cooling: Yes

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Curbs

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Level
  • Lot Size Sq Ft: 11552.00

Rental Info

  • Tenant Pays: Electricity, Gas

Multi Family

  • Average2 Bed Area: 930 Square Feet
  • Gross Scheduled Income: 46200.00
  • Insurance Expense: 1200.00
  • Net Operating Income: 37100.00
  • Number Of Separate Electric Meters: 4
  • Number Of Separate Gas Meters: 4
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 4
  • Number With Dishwasher: 4
  • Number With Disposal: 4
  • Number With Patio: 4
  • Number With Range: 4
  • Operating Expense: 9100.00
  • Rent Control: No
  • Total Expenses: 13600.00

Tax Info

  • New Taxes Expense: 7000.00
  • Tax Census Tract: 433.12
  • Tax Lot: 00
  • Tax Tract Number: 99

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Nov 6, 2024
Sold by
Jimenez Victor
Bought by
Sobrinos Jimenez Paloblanco Family Revocable and Jimenez
Current Estimated Value
$791,871

Purchase Details

Listed on
May 2, 2018
Closed on
Aug 8, 2018
Sold by
Alderman Maureen Marie
Bought by
Jimenez Victor
Seller's Agent
Matt Alderman
Matt Alderman, Broker
Buyer's Agent
Francis Enriquez
Ladera Home Realty
List Price
$429,900
Sold Price
$435,000
Premium/Discount to List
$5,100
1.19%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
8.48%
Original Mortgage
$326,250
Interest Rate
4.5%
Mortgage Type
New Conventional

Purchase Details

Closed on
Oct 12, 2002
Sold by
Alderman William Harbert and Alderman Maureen Marie
Bought by
Alderman William Harbert and Alderman Maureen Marie

Purchase Details

Closed on
Nov 1, 2001
Sold by
H O E Investments Inc
Bought by
Alderman Maureen M

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$118,100
Interest Rate
6.94%
Mortgage Type
Commercial

Purchase Details

Closed on
Aug 15, 2001
Sold by
Dupre Robert T and Dupre Michelle E
Bought by
H O E Investments Inc

Purchase Details

Closed on
Jun 19, 1995
Sold by
Dupre Robert T and Dupre Michelle E
Bought by
Neuenburg Gerald B and Neuenburg Patricia M

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$45,151
Interest Rate
7.92%
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
Sobrinos Jimenez Paloblanco Family Revocable -- Pacific Coast Title
Sobrinos Jimenez Paloblanco Family Revocable -- Pacific Coast Title
Jimenez Victor $435,000 Ticor Title
Alderman William Harbert -- --
Alderman William Harbert -- --
Alderman Maureen M $157,500 Southland Title Corporation
Alderman Maureen M -- Southland Title Corporation
H O E Investments Inc $100,000 --
Neuenburg Gerald B -- United Title Company
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Jimenez Victor $326,250
Previous Owner Alderman Maureen M $118,100
Previous Owner Neuenburg Gerald B $45,151
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
08/31/2018 08/31/18 Sold $435,000 +1.2% $114 / Sq Ft
07/25/2018 07/25/18 Pending -- -- --
07/19/2018 07/19/18 For Sale $429,900 0.0% $113 / Sq Ft
06/24/2018 06/24/18 Pending -- -- --
06/17/2018 06/17/18 Price Changed $429,900 -4.5% $113 / Sq Ft
05/23/2018 05/23/18 Price Changed $449,950 -7.2% $118 / Sq Ft
05/10/2018 05/10/18 Price Changed $485,000 -3.0% $128 / Sq Ft
05/02/2018 05/02/18 For Sale $499,900 -- $132 / 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 $5,522 $720,000 $120,000 $600,000
2023 $5,522 $466,406 $53,609 $412,797
2022 $5,349 $457,261 $52,558 $404,703
2021 $5,262 $448,296 $51,528 $396,768
2020 $5,208 $443,700 $51,000 $392,700
2019 $5,096 $435,000 $50,000 $385,000
2018 $2,457 $204,469 $38,938 $165,531
2017 $2,429 $200,461 $38,175 $162,286
2016 $2,412 $196,531 $37,427 $159,104
2015 $2,406 $193,581 $36,866 $156,715
2014 $2,303 $189,792 $36,145 $153,647
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: SW18102644

California Regional Multiple Listing Service (CRMLS)

APN: 446-321-011