NOT LISTED FOR SALE

7499 Potomac St Riverside, CA 92504

Magnolia Center Neighborhood

Estimated Value: $622,000 - $1,091,379

6 Beds
4 Baths
2,640 Sq Ft
$292/Sq Ft Est. Value

Last Sold January 31, 2012

Last sale price $350,000 $133 Per Sq Ft

Est. 120% increase in value since last sale

Current estimated payment $4,596/month

270 Days on Market

About This Home

As of January 2012

Seller willing to negotiate. Well maintained Tri-Plex, close to all schools K-12. All units were recently remodeled with new tile, stoves, sinks and new carpet. 3 individual & secure garages with one for each unit, along with additional parking spaces accessible through driveway. Lot size 7,841.
Unit A- 2 bedroom/2bath (1100sf) with annual scheduled rent of $13,800
Unit B- 2 bedroom/1bath ( 830sf) with annual scheduled rent of $11,520
Unit C- 2 bedroom/1bath ( 830sf) with annual scheduled rent of $12,000
GSI: $37,320/yr--with property taxes, $2,600/yr; gardner, $1,680/yr; water & Trash $1200/yr; Insurance $2,000/yr.
Vacancy reserves: 5% vacancy, 5% maintenance, Cap rate 7%, GRM: 10.45. Sellers choice of services. Buyers to satisfy themselves as to all aspects of this property. Sellers are motivated due to recent divorce. Make Offer-All reasonable offers will be reviewed. Call Agent with any questions
DRIVE BY ONLY--DO NOT DISTURB TENANTS.

Last Agent to Sell the Property

MIKE SCOTT

HELP-U-SELL INDEPENDENCE RLTY License #01408098 Listed on: 03/15/2011

Co-Listed By

BETTY SCOTT

HELP-U-SELL INDEPENDENCE RLTY License #1822816

Last Buyer's Agent

Mimi Pardini

M P Properties International License #00984541

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $4,833

Year Built

  • Built in 1952

Lot Details

  • 7,841 Sq Ft Lot

Parking

  • 3 Car Garage
  • Parking Available
  • Assigned Parking

Home Design

  • 2,640 Sq Ft Home

Bedrooms and Bathrooms

  • 6 Bedrooms
  • 4 Bathrooms

Listing and Financial Details

  • Tenant pays for cable TV, electricity, gas
  • Tax Lot 20
  • Tax Tract Number 902
  • Assessor Parcel Number 230121016

Community Details

Overview

  • 2 Buildings
  • 3 Units

Building Details

  • 3 Leased Units
  • 3 Separate Electric Meters
  • 3 Separate Gas Meters
  • Gardener Expense $1,680
  • Insurance Expense $2,000
  • Other Expense $2,600
  • Trash Expense $600
  • Water Sewer Expense $600
  • Net Operating Income $27,974

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$4,833

Year Built

Built in 1952

Lot Details

0

Parking

3

Listing Details

  • Assessments: No
  • Price Per Unit: 150000
  • Water Sewer Expenses: 600.00
  • Property Type: Residential Income
  • Gardener Expense: 1680.00
  • Parcel Number: 230121016
  • Year Built: 1952
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Levels: Two
  • Price Per Square Foot: 132.58

Garage/Parking

  • Garage Spaces: 3.00
  • Parking: Yes
  • Parking Features: Assigned
  • Total Parking Spaces: 7.00

Utilities

  • Trash Expense: 600.00

Condo/Co-op/Association

  • Senior Community: No

Lot Info

  • Lot Size Sq Ft: 7841.00
  • Lot Size Acres: 0.1800

Rental Info

  • Tenant Pays: Cable TV, Electricity, Gas

Multi Family

  • Average1 Bed Area: 1150
  • Average2 Bed Area: 960
  • Average3 Bed Area: 1000
  • Gross Scheduled Income: 37320.00
  • Insurance Expense: 2000.00
  • Lot Size Area: 7841.0000 Square Feet
  • Maintenance Percent: 5.00
  • Net Operating Income: 27974.00
  • Number Of Separate Electric Meters: 3
  • Number Of Separate Gas Meters: 3
  • Number Of Units Leased: 3
  • Number Of Units Total: 3
  • Operating Expense: 7480.00
  • Other Expense: 2600.00
  • Other Expense Description: Prop Tax
  • Rent Control: No
  • Total Actual Rent: 37320.00
  • Vacancy Allowance Rate: 5.00

Tax Info

  • Tax Lot: 20
  • Tax Tract Number: 902
  • Tax Year: 2010

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Mar 15, 2011
Closed on
Jan 4, 2012
Sold by
Barksdale Archie and Barksdale Joyce
Bought by
Barksdale Archie and Barksdale Joyce
Seller's Agent
MIKE SCOTT
HELP-U-SELL INDEPENDENCE RLTY
Buyer's Agent
Mimi Pardini
M P Properties International
List Price
$450,000
Sold Price
$350,000
Premium/Discount to List
-$100,000
-22.22%
Current Estimated Value
$769,595

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$419,595
Avg. Annual Appreciation
5.87%
Original Mortgage
$262,500
Interest Rate
3.88%
Mortgage Type
Commercial

Purchase Details

Listed on
Mar 15, 2011
Closed on
Dec 12, 2011
Sold by
Barksdale Archie and Barksdale Joyce
Bought by
Oliver Kevin M
Seller's Agent
MIKE SCOTT
HELP-U-SELL INDEPENDENCE RLTY
Buyer's Agent
Mimi Pardini
M P Properties International
List Price
$450,000
Sold Price
$350,000
Premium/Discount to List
-$100,000
-22.22%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$262,500
Interest Rate
3.88%
Mortgage Type
Commercial

Purchase Details

Closed on
Jan 12, 2000
Sold by
Tamm
Bought by
Barksdale Archie and Barksdale Joyce

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$135,000
Interest Rate
8.27%
Mortgage Type
Commercial

Purchase Details

Closed on
Apr 5, 1994
Sold by
Christy Bret J and Christy Tammy M
Bought by
Christy Nicholas R and Christy Mildred A
Source: Public Records

Range of Values:

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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
Barksdale Archie -- Equity Title Company
Oliver Kevin M $350,000 Equity Title Company
Barksdale Archie $199,000 Chicago Title Co
Christy Nicholas R -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Oliver Kevin M $362,000
Closed Oliver Kevin M $22,500
Closed Oliver Kevin M $314,300
Closed Oliver Kevin M $280,000
Previous Owner Oliver Kevin M $262,500
Previous Owner Barksdale Archie $290,000
Previous Owner Barksdale Archie $150,500
Previous Owner Barksdale Archie $135,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
01/31/2012 01/31/12 Sold $350,000 -22.2% $133 / Sq Ft
12/10/2011 12/10/11 Pending -- -- --
03/15/2011 03/15/11 For Sale $450,000 -- $170 / 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 $4,833 $439,603 $62,794 $376,809
2023 $4,833 $422,534 $60,356 $362,178
2022 $4,724 $414,250 $59,173 $355,077
2021 $4,664 $406,128 $58,013 $348,115
2020 $4,629 $401,965 $57,419 $344,546
2019 $4,544 $394,085 $56,294 $337,791
2018 $4,456 $386,359 $55,191 $331,168
2017 $4,378 $378,784 $54,109 $324,675
2016 $4,100 $371,358 $53,049 $318,309
2015 $4,043 $365,782 $52,253 $313,529
2014 $4,006 $358,620 $51,231 $307,389
Source: Public Records

Agents Affiliated with this Home

  • M

    Seller's Agent in 2012

    MIKE SCOTT

    HELP-U-SELL INDEPENDENCE RLTY

  • B

    Seller Co-Listing Agent in 2012

    BETTY SCOTT

    HELP-U-SELL INDEPENDENCE RLTY

  • Mimi Pardini

    Buyer's Agent in 2012

    Mimi Pardini

    M P Properties International

    (949) 500-3628

    3 Total Sales

    Mimi Pardini
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: I11032990

California Regional Multiple Listing Service (CRMLS)

APN: 230-121-016

California Riverside County Riverside 92504 Magnolia Center

7499 Potomac St, Riverside, CA

This home is located at 7499 Potomac St, Riverside, CA 92504 since 15 March 2011 and is currently estimated at $769,595, approximately $291 per square foot. This property was built in 1952. 7499 Potomac St is a home located in Riverside County with nearby schools including Madison Elementary School, Sierra Middle School, and Ramona High School.

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.

California Regional Multiple Listing Service (CRMLS) 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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