Jesse Salas
Harcourts One
(858) 239-2533
99 Total Sales
3 in Fallbrook
$237K - $1.7M Price Range
725 E Elder St Fallbrook, CA 92028
Fallbrook Area
10
Beds
8
Baths
4,200
Sq Ft
1965
Built
Highlights
- Laundry Facilities
- La Paloma Elementary School Rated 9+
- Partially Fenced Property
About This Home
As of August 2021The Elder Street Apartments represent a true value add opportunity in the North San Diego County community of Fallbrook. The opportunity consists of a 4 unit building with the potential to add the adjacent property at 729 E. Elder, for a total of 8 units on 2 separate parcels enabling the investor to lock in 30 year fixed rate debt at historically low rates on each building. Constructed in 1965, 725 E. Elder rests on a slab foundation with stucco and frame construction. The 2 story building has a unit mix consisting of two 2 bedroom 1.5 bath units plus two 3 bedroom 1.5 bath units, with all units over 1050 square feet. Separately metered for gas and electric, the units have long term tenants with a solid payment history. The roof was replaced in 2017 and the boiler in 2016 so major systems are relatively new. All plumbing angle stops have been replaced, all toilets are low flow, and plumbing lines are copper. There is a laundry room with leased equipment providing the residents with onsite convenience plus extra income for the owner. Parking is via carports. Purchase this as a 4 unit investment or combine with 729 E. Elder for an 8 unit asset with no income fluctuation from interest rate uncertainty due to the ability to use 30 year fixed rate debt.
Last Agent to Sell the Property
South Coast Commercial, Inc. License #01816761 Listed on: 06/01/2021
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Property Details
Home Type
- Multi-Family
Year Built
- Built in 1965
Home Design
- Stucco Exterior
Additional Features
- 2-Story Property
- Partially Fenced Property
- Cooling System Mounted To A Wall/Window
Listing and Financial Details
- Tenant pays for cable TV, electricity, gas/propane
- Assessor Parcel Number 105-341-40-00
Community Details
Overview
- 4 Units
- Elder Apartments Community
Additional Features
- Laundry Facilities
- Net Operating Income $48,142
Ownership History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Jun 1, 2021
Closed on
Jul 30, 2021
Sold by
Bought by
Seller's Agent
Gary Kaufman, CCIM
South Coast Commercial, Inc.
Buyer's Agent
Sebastian Winfield
LPT Realty, Inc
List Price
$1,200,000
Sold Price
$1,150,000
Premium/Discount to List
-$50,000
-4.17%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,176,450
Outstanding Balance
$1,044,482
Interest Rate
2.8%
Mortgage Type
VA
Purchase Details
Listed on
Mar 11, 2013
Closed on
Aug 5, 2013
Sold by
Bought by
Seller's Agent
Leslie Arden
Exit Stepping Stone Realty
Buyer's Agent
Anthony Mendes
The Mendes Company
List Price
$620,000
Sold Price
$620,000
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
7.90%
Original Mortgage
$461,250
Interest Rate
3.57%
Mortgage Type
Commercial
Purchase Details
Listed on
Mar 11, 2013
Closed on
Jun 27, 2013
Sold by
Bought by
Seller's Agent
Leslie Arden
Exit Stepping Stone Realty
Buyer's Agent
Anthony Mendes
The Mendes Company
List Price
$620,000
Sold Price
$620,000
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$461,250
Interest Rate
3.57%
Mortgage Type
Commercial
Purchase Details
Listed on
Mar 11, 2013
Closed on
Jun 13, 2013
Sold by
Bought by
Seller's Agent
Leslie Arden
Exit Stepping Stone Realty
Buyer's Agent
Anthony Mendes
The Mendes Company
List Price
$620,000
Sold Price
$620,000
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$461,250
Interest Rate
3.57%
Mortgage Type
Commercial
Purchase Details
Closed on
Apr 18, 2011
Sold by
Bought by
Purchase Details
Closed on
Apr 30, 2007
Sold by
Bought by
Purchase Details
Closed on
Mar 6, 2006
Sold by
Bought by
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$600,000
Interest Rate
7%
Mortgage Type
New Conventional
Purchase Details
Closed on
Mar 2, 2006
Sold by
Bought by
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$600,000
Interest Rate
7%
Mortgage Type
New Conventional
Purchase Details
Closed on
Aug 22, 2005
Sold by
Bought by
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$455,000
Interest Rate
7.37%
Mortgage Type
Commercial
Purchase Details
Closed on
Aug 11, 2005
Sold by
Bought by
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$455,000
Interest Rate
7.37%
Mortgage Type
Commercial
Purchase Details
Closed on
Oct 25, 1999
Sold by
Bought by
Purchase Details
Closed on
May 14, 1999
Sold by
Bought by
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$180,000
Interest Rate
6.12%
Mortgage Type
Commercial
Purchase Details
Closed on
May 12, 1999
Sold by
Bought by
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$180,000
Interest Rate
6.12%
Mortgage Type
Commercial
Purchase Details
Closed on
Mar 29, 1998
Sold by
Bought by
Purchase Details
Closed on
Jun 30, 1988
Home Values in the Area
Average Home Value in this Area
Agents Specializing in Fallbrook, CA
-
Jesse Salas
-
Michael Winter
Michael Winter
1st Class Real Estate SD North
(442) 222-3823
43 Total Sales
1 in Fallbrook
$1,345,000 Price
-
Ryan Dick
Ryan Dick
Compass
(858) 633-5638
41 Total Sales
2 in Fallbrook
$1,400,000 Price Range
-
Joe Ghio
Joe Ghio
Coldwell Banker West
(858) 223-1043
61 Total Sales
1 in Fallbrook
$945,000 Price
-
Leyla Badiozamani
Leyla Badiozamani
Coldwell Banker Realty
(858) 386-7652
16 Total Sales
2 in Fallbrook
$469K - $500K Price Range
-
Tania Rivera
Tania Rivera
Compass
(858) 682-5736
24 Total Sales
2 in Fallbrook
$257K - $640K Price Range
Purchase History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| $1,150,000 | Fidelity National Title Co | ||
| -- | Accommodation | ||
| -- | Lsi Title Company | ||
| $620,000 | Lsi Title Company | ||
| $511,482 | Landsafe Title | ||
| -- | None Available | ||
| -- | None Available | ||
| -- | Chicago Title Co | ||
| $750,000 | Chicago Title Co | ||
| -- | Fidelity National Title San | ||
| -- | Fidelity National Title San | ||
| $650,000 | Fidelity National Title San | ||
| -- | -- | ||
| -- | Commonwealth Land Title Co | ||
| $260,000 | Commonwealth Land Title Co | ||
| $87,000 | Chicago Title Co | ||
| $225,000 | -- |
Source: Public Records
Mortgage History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | $1,176,450 | ||
| Previous Owner | $445,000 | ||
| Previous Owner | $461,250 | ||
| Previous Owner | $600,000 | ||
| Previous Owner | $455,000 | ||
| Previous Owner | $162,500 | ||
| Previous Owner | $180,000 |
Source: Public Records
Property History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 08/25/2021 08/25/21 | Sold | $1,150,000 | -4.2% | $274 / Sq Ft | |
| 08/01/2021 08/01/21 | Pending | -- | -- | -- | |
| 06/01/2021 06/01/21 | For Sale | $1,200,000 | +93.5% | $286 / Sq Ft | |
| 07/09/2013 07/09/13 | Sold | $620,000 | 0.0% | $146 / Sq Ft | View Prior Sale |
| 06/12/2013 06/12/13 | Pending | -- | -- | -- | |
| 03/11/2013 03/11/13 | For Sale | $620,000 | -- | $146 / Sq Ft |
Source: San Diego MLS
Tax History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| 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 |
|---|---|---|---|---|
| 2026 | $13,064 | $1,244,796 | $541,216 | $703,580 |
| 2025 | $12,753 | $1,220,389 | $530,604 | $689,785 |
| 2024 | $12,753 | $1,196,460 | $520,200 | $676,260 |
| 2023 | $12,361 | $1,173,000 | $510,000 | $663,000 |
| 2022 | $12,365 | $1,150,000 | $500,000 | $650,000 |
| 2021 | $7,503 | $702,148 | $322,761 | $379,387 |
| 2020 | $7,561 | $694,949 | $319,452 | $375,497 |
| 2019 | $7,411 | $681,324 | $313,189 | $368,135 |
| 2018 | $7,299 | $667,966 | $307,049 | $360,917 |
| 2017 | $7,155 | $654,870 | $301,029 | $353,841 |
| 2016 | $6,975 | $642,030 | $295,127 | $346,903 |
| 2015 | $6,864 | $632,387 | $290,694 | $341,693 |
| 2014 | $6,734 | $620,000 | $285,000 | $335,000 |
Source: Public Records
Agents Affiliated with this Home
-
Gary Kaufman, CCIM
Seller's Agent in 2021
Gary Kaufman, CCIM
South Coast Commercial, Inc.
(760) 814-0114
9 Total Sales
-
Sebastian Winfield
S
Buyer's Agent in 2021
Sebastian Winfield
LPT Realty, Inc
(858) 777-9816
162 Total Sales
-
L
Seller's Agent in 2013
Leslie Arden
Exit Stepping Stone Realty
-
Anthony Mendes
Buyer's Agent in 2013
Anthony Mendes
The Mendes Company
(619) 889-3614
17 Total Sales
Map
Source: San Diego MLS
MLS Number: 210014898
APN: 105-341-40-00
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