Seller's Agent in 2023
Rick Applebaum
Morgan Skenderian
(949) 251-8800
74 Total Sales
9281 Pepper Ave Fontana, CA 92335
Fontana Area
2
Beds
1
Bath
5,888
Sq Ft
0.36
Acre Lot
About This Home
As of October 2023Pleased to exclusively present the Pepper Tree Apartments, an 8-unit, multi family investment property located in the City of Fontana, California. This offering presents qualified investors the opportunity to acquire a well maintained asset in one of the most desirable rental markets in the Inland Empire. The subject property is comprised exclusively of two bedroom units averaging736 square feet of living space. Units are individually metered for electricity with a central water heater and presents tenants with an on-site laundry room. Carport parking is available for all tenants along with extra open spaces that could translate to an additional income stream. Located off Randall Ave, the offering benefits from its convenient access to retail, entertainment, schools, medical offices, parks & freeways--all within reach. Furthermore, proximity to Interstates 10, 15, and 210 freeways grants tenants access to surrounding employment hubs throughout the Inland Empire as well as Los Angeles & Orange County regions. With significant upside potential and growing demand for this submarket, the offering presents the astute investor the opportunity to acquire a cash flowing asset with additional upside through proactive management to capture projected 44% upside in rents.
Last Agent to Sell the Property
Morgan Skenderian License #01273871 Listed on: 07/06/2023
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1978
Lot Details
- 15,750 Sq Ft Lot
- Two or More Common Walls
Home Design
- Apartment
- Entry on the 1st floor
Interior Spaces
- 5,888 Sq Ft Home
- 2-Story Property
Bedrooms and Bathrooms
- 2 Bedrooms
- 1 Bathroom
Laundry
- Laundry in unit
- Leased Washer and Dryer
Parking
- 4 Open Parking Spaces
- 12 Parking Spaces
- 8 Carport Spaces
Outdoor Features
- Rain Gutters
Listing and Financial Details
- Legal Lot and Block 12 / 10
- Assessor Parcel Number 0193121450000
- $2,742 per year additional tax assessments
Community Details
Building Details
- 9 Separate Electric Meters
- 1 Separate Gas Meter
- 1 Separate Water Meter
- Electric Expense $4,713
- Fuel Expense $4,713
- Gardener Expense $1,800
- Insurance Expense $2,944
- Maintenance Expense $7,501
- Other Expense $750
- Trash Expense $4,713
- Water Sewer Expense $4,713
- New Taxes Expense $19,447
- Operating Expense $54,036
- Gross Income $2,484
- Net Operating Income $70,978
Additional Features
- 8 Units
- Laundry Facilities
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
Jul 6, 2023
Closed on
Oct 3, 2023
Sold by
Bought by
Seller's Agent
Rick Applebaum
Morgan Skenderian
Buyer's Agent
Eric Chen
CB RICHARD ELLIS
List Price
$1,825,000
Sold Price
$1,920,000
Premium/Discount to List
$95,000
5.21%
Views
66
Purchase Details
Closed on
Jul 28, 2023
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
$818,500
Interest Rate
0.0718%
Mortgage Type
New Conventional
Purchase Details
Closed on
Aug 4, 2019
Sold by
Bought by
Purchase Details
Closed on
Mar 3, 2019
Sold by
Bought by
Purchase Details
Closed on
Oct 28, 2016
Sold by
Bought by
Purchase Details
Closed on
Apr 8, 2005
Sold by
Bought by
Purchase Details
Closed on
Feb 25, 2004
Sold by
Bought by
Purchase Details
Closed on
Dec 9, 2002
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
$60,000
Interest Rate
0.056%
Purchase Details
Closed on
Jan 28, 2000
Sold by
Bought by
Purchase Details
Closed on
Aug 9, 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
$157,500
Interest Rate
0.0786%
Mortgage Type
Commercial
Purchase Details
Closed on
Aug 27, 1996
Sold by
Bought by
Purchase Details
Closed on
Jan 4, 1996
Sold by
Bought by
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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 |
|---|---|---|---|
| -- | Ticor Title Company | ||
| $1,920,000 | Ticor Title Company | ||
| -- | None Available | ||
| -- | None Available | ||
| -- | None Available | ||
| $170,000 | Fatcola | ||
| $100,000 | Chicago Title Co | ||
| $60,000 | Chicago Title Co | ||
| $280,000 | South Coast Title Company | ||
| -- | Orange Coast Title | ||
| $155,000 | Continental Lawyers Title Co | ||
| $295,000 | Stewart Title |
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 |
|---|---|---|---|
| Previous Owner | $818,500 | ||
| Previous Owner | $60,000 | ||
| Previous Owner | $157,500 | ||
| Previous Owner | $20,000 |
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 |
|---|---|---|---|---|
| 10/13/2023 10/13/23 | Sold | $1,920,000 | +5.2% | $326 / Sq Ft |
| 07/19/2023 07/19/23 | Pending | -- | -- | -- |
| 07/06/2023 07/06/23 | For Sale | $1,825,000 | -- | $310 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
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 | $24,841 | $1,997,568 | $416,160 | $1,581,408 |
| 2025 | $24,841 | $1,958,400 | $408,000 | $1,550,400 |
| 2024 | $23,062 | $1,920,000 | $400,000 | $1,520,000 |
| 2023 | $6,918 | $413,652 | $81,253 | $332,399 |
| 2022 | $6,798 | $405,541 | $79,660 | $325,881 |
| 2021 | $6,700 | $397,589 | $78,098 | $319,491 |
| 2020 | $6,731 | $393,512 | $77,297 | $316,215 |
| 2019 | $6,478 | $385,796 | $75,781 | $310,015 |
| 2018 | $6,407 | $378,231 | $74,295 | $303,936 |
| 2017 | $6,207 | $370,814 | $72,838 | $297,976 |
| 2016 | $5,969 | $363,543 | $71,410 | $292,133 |
| 2015 | $5,807 | $358,082 | $70,337 | $287,745 |
| 2014 | $5,735 | $351,067 | $68,959 | $282,108 |
Source: Public Records
Agents Affiliated with this Home
-
Rick Applebaum
-
Paul Espinosa
Seller Co-Listing Agent in 2023
Paul Espinosa
Morgan Skenderian
(714) 206-2688
42 Total Sales
-
Eric Chen
Buyer's Agent in 2023
Eric Chen
CB RICHARD ELLIS
(909) 418-2030
65 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: PW23120918
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.
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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