NOT LISTED FOR SALE

729 E Elder St Fallbrook, CA 92028

10 Beds
4 Baths
4,256 Sq Ft
6,928 Sq Ft Lot

Last Sold April 19, 2023

Last sale price $1,250,000 $294 Per Sq Ft

11 Days on Market

Highlights

  • No HOA
  • Cooling System Mounted To A Wall/Window
  • 4 Attached Carport Spaces
  • La Paloma Elementary School Rated 9+
  • Laundry Room
  • Paved or Partially Paved Lot

About This Home

As of April 2023

This desirable fourplex (4 units) is a 2 story building located on the corner of E Elder & Potter St...Close to downtown Fallbrook. Two units consist of 3 bedrooms & 1.5 baths, two consist of 2 bedrooms & 1.5 baths, with all units over 1,050sqft. The two ground floor units were remodeled in 2016. Separately metered for gas and electric, the units have long term tenants with a solid payment history. All plumbing angle stops have been replaced in December 2021, 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. Each unit is assigned a carport plus amble off street parking for residents.

Last Agent to Sell the Property

Kelly Kohler

Century 21 Affiliated License #01981011 Listed on: 03/04/2023

Century 21 Affiliated

Last Buyer's Agent

Maxwell Brown

CBRE License #02127395

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1965

Lot Details

  • 6,928 Sq Ft Lot
  • Two or More Common Walls
  • Paved or Partially Paved Lot

Home Design

  • Property Attached
  • Entry on the 1st floor

Interior Spaces

  • 4,256 Sq Ft Home
  • 2-Story Property
  • Laundry Room

Bedrooms and Bathrooms

  • 10 Bedrooms
  • 4 Bathrooms

Parking

  • 6 Open Parking Spaces
  • 10 Parking Spaces
  • 4 Attached Carport Spaces
  • Parking Available
  • Assigned Parking

Utilities

  • Cooling System Mounted To A Wall/Window
  • No Heating

Listing and Financial Details

  • Tax Lot 75002
  • Tax Tract Number 132
  • Assessor Parcel Number 1053414100

Community Details

Overview

  • No Home Owners Association
  • 4 Units

Amenities

  • Laundry Facilities

Building Details

  • Electric Expense $499
  • Fuel Expense $1,924
  • Insurance Expense $2,081
  • Trash Expense $2,819
  • Water Sewer Expense $4,818
  • New Taxes Expense $12,979
  • Operating Expense $22,236
  • Gross Income $79,800
  • Net Operating Income $57,563

Property Details

Home Type

Multi-Family

Year Built

Built in 1965

Lot Details

0

Listing Details

  • Assessments: No
  • CapRate: 4.50
  • Property Attached: Yes
  • View: No
  • Water Sewer Expenses: 4818.00
  • Zoning: Multi Family Dwellings Generic Any Co...
  • Property Type: Residential Income
  • Parcel Number: 1053414100
  • Year Built: 1965
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: No
  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Appliances: No
  • Entry Level: 1
  • Price Per Square Foot: 293.70

Exterior Features

  • Fence: No
  • Pool Private: No
  • Spa: No

Garage/Parking

  • Carport Spaces: 4.00
  • Parking: Yes
  • Parking Features: Assigned, Attached Carport
  • Total Parking Spaces: 10.00
  • Uncovered Spaces: 6.00

Utilities

  • Heating: No
  • Laundry: Yes
  • Laundry Features: Community
  • Trash Expense: 2819.00
  • Water Source: Public
  • Cooling: Wall/Window Unit(s)
  • Cooling: Yes

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Sidewalks

Lot Info

  • Land Lease: No
  • Lot Features: Paved
  • Lot Size Sq Ft: 6928.00
  • Lot Size Acres: 0.1590

Multi Family

  • Electric Expense: 499.00
  • Fuel Expense: 1924.00
  • Gross Income: 79800.00
  • Gross Scheduled Income: 79800.00
  • Insurance Expense: 2081.00
  • Lot Size Area: 6928.0000 Square Feet
  • Net Operating Income: 57563.00
  • Number Of Units Total: 4
  • Number With Range: 4
  • Number With Refrigerator: 4
  • Operating Expense: 22236.00
  • Rent Control: No
  • Total Expenses: 22236.00

Tax Info

  • New Taxes Expense: 12979.00
  • Tax Lot: 75002
  • Tax Tract Number: 000132
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
04/19/2023 04/19/23 Sold $1,250,000 -2.0% $294 / Sq Ft
03/15/2023 03/15/23 Pending -- -- --
03/04/2023 03/04/23 For Sale $1,275,000 +6.3% $300 / Sq Ft
11/05/2021 11/05/21 Sold $1,200,000 0.0% $286 / Sq Ft View Prior Sale
10/01/2021 10/01/21 Pending -- -- --
06/01/2021 06/01/21 For Sale $1,200,000 -- $286 / 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 $13,667 $1,300,500 $468,180 $832,320
2024 $13,667 $1,275,000 $459,000 $816,000
2023 $12,973 $1,200,000 $450,000 $750,000
2022 $12,979 $1,200,000 $450,000 $750,000
2021 $7,131 $667,122 $246,069 $421,053
2020 $7,187 $660,282 $243,546 $416,736
2019 $7,044 $647,336 $238,771 $408,565
2018 $6,937 $634,644 $234,090 $400,554
2017 $6,800 $622,200 $229,500 $392,700
2016 $6,629 $610,000 $225,000 $385,000
2015 $2,501 $228,058 $62,194 $165,864
2014 -- $223,591 $60,976 $162,615
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: NDP2301604

California Regional Multiple Listing Service (CRMLS)

APN: 105-341-41-00