NOT LISTED FOR SALE

962 Monarch St Hemet, CA 92543

Estimated Value: $696,000 - $928,000

8 Beds
8 Baths
3,800 Sq Ft
$212/Sq Ft Est. Value

Last Sold February 15, 2022

Last sale price $725,000 $191 Per Sq Ft

Est. 11% increase in value since last sale

Current estimated payment $4,932/month

7 Days on Market

Highlights

  • No Units Above
  • No HOA
  • Fireplace
  • Mountain View
  • 8 Car Direct Access Garage
  • Central Heating and Cooling System

About This Home

As of February 2022

Built in 1980, Single Story 2 Bedroom and 1.75 Bath units with attached double car garages. Back unit makes a great owner's unit with a fireplace and private yard. Front unit has an enclosed patio that is used as a 3rd bedroom. Buyer to verify permit status. All units have central A/C and separate meters for gas and electric utilities and separate hot water heaters. Units have tile floors throughout to keep turnover expenses low. Rents are low so lots of upside. No rent increases have been given in more than 3 years so can bump them up immediately. Water efficient landscaping.

Last Agent to Sell the Property

Richard Bell

Bell Realty Group License #01344469 Listed on: 12/15/2021

Last Buyer's Agent

George Asaad

Berkshire Hathaway HomeServices California Properties License #01270354

Berkshire Hathaway HomeServices California Properties

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1980

Lot Details

  • 0.26 Acre Lot
  • No Units Above
  • No Units Located Below
  • 1 Common Wall

Parking

  • 8 Car Direct Access Garage
  • 1 Open Parking Space
  • Parking Available
  • Two Garage Doors
  • Driveway Level

Home Design

  • Property Attached
  • Composition Roof

Interior Spaces

  • 3,800 Sq Ft Home
  • 1-Story Property
  • Fireplace
  • Mountain Views

Bedrooms and Bathrooms

  • 8 Bedrooms
  • 8 Bathrooms

Location

  • Suburban Location

Utilities

  • Central Heating and Cooling System
  • Natural Gas Connected

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Tax Lot 13
  • Tax Tract Number 9924
  • Assessor Parcel Number 446320062
  • $1,200 per year additional tax assessments

Community Details

Overview

  • No Home Owners Association
  • 4 Units

Building Details

  • 4 Leased Units
  • Rent Control
  • 4 Separate Electric Meters
  • 4 Separate Gas Meters
  • 1 Separate Water Meter
  • Gardener Expense $1,200
  • Insurance Expense $1,500
  • Maintenance Expense $2,400
  • Other Expense $2,245
  • Trash Expense $1,500
  • Water Sewer Expense $3,000
  • New Taxes Expense $8,614
  • Operating Expense $20,809
  • Gross Income $42,468
  • Net Operating Income $20,385

Property Details

Home Type

Multi-Family

Year Built

Built in 1980

Lot Details

0

Parking

8

Listing Details

  • Property Attached: Yes
  • Road Frontage Type: City Street
  • Road Surface Type: Paved
  • View: Yes
  • Water Sewer Expenses: 3000.00
  • Zoning: R3
  • Property Type: Residential Income
  • Gardener Expense: 1200.00
  • Parcel Number: 446320062
  • Year Built: 1980
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: Yes
  • Stories: 1
  • Common Walls: 1 Common Wall, No One Above, No One Below
  • Levels: One
  • Price Per Square Foot: 190.79
  • Room Type: All Bedrooms Down

Exterior Features

  • View: Mountain(s)
  • Pool Private: No
  • Roof: Composition
  • Spa: No

Garage/Parking

  • Garage Spaces: 8.00
  • Parking: Yes
  • Parking Features: Direct Garage Access, Driveway Level, Garage - Two Door
  • Total Parking Spaces: 9.00
  • Uncovered Spaces: 1.00

Utilities

  • Utilities: Electricity Connected, Natural Gas Connected, Water Connected
  • Heating: Yes
  • Laundry: No
  • Heating Type: Central
  • Sewer: Public Sewer
  • Trash Expense: 1500.00
  • Water Source: Public
  • Cooling: Central Air
  • Cooling: Yes

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Sidewalks, Storm Drains, Suburban

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Lot 10000-19999 Sqft
  • Lot Size Sq Ft: 11326.00
  • Lot Size Acres: 0.2600

Rental Info

  • Tenant Pays: Electricity, Gas

Multi Family

  • Average2 Bed Area: 950 Square Feet
  • Gross Income: 42468.00
  • Gross Operating Income: 41194.00
  • Gross Scheduled Income: 42468.00
  • Insurance Expense: 1500.00
  • Lot Size Area: 11326.0000 Square Feet
  • Maintenance Expense: 2400.00
  • Net Operating Income: 20385.00
  • Number Of Separate Electric Meters: 4
  • Number Of Separate Gas Meters: 4
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 4
  • Number Of Units Total: 4
  • Number With Range: 4
  • Operating Expense: 20809.00
  • Other Expense: 2245.00
  • Other Expense Description: reserve
  • Rent Control: Yes
  • Total Actual Rent: 3539.00
  • Total Expenses: 20809.00

Tax Info

  • New Taxes Expense: 8614.00
  • Tax Census Tract: 433.12
  • Tax Lot: 13
  • Tax Tract Number: 9924
  • TaxOtherAnnualAssessmentAmount: 1200.00

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Dec 15, 2021
Closed on
Jan 18, 2022
Sold by
Flamm Bruce L and Flamm Janice R
Bought by
Said Medhat and Said Nancy
Seller's Agent
Richard Bell
Bell Realty Group
Buyer's Agent
George Asaad
Berkshire Hathaway HomeServices California Properties
List Price
$749,000
Sold Price
$725,000
Premium/Discount to List
-$24,000
-3.2%
Current Estimated Value
$805,919

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$80,919
Avg. Annual Appreciation
2.76%
Original Mortgage
$513,750
Outstanding Balance
$476,205
Interest Rate
3.56%
Mortgage Type
New Conventional
Estimated Equity
$329,714

Purchase Details

Listed on
Sep 18, 2013
Closed on
Jan 28, 2014
Sold by
Artavia Clark Cristina and Artavia Clark Christina
Bought by
Flamm Bruce L and Goings Janice R
Seller's Agent
Richard Bell
Bell Realty Group
Buyer's Agent
Richard Bell
Bell Realty Group
List Price
$345,000
Sold Price
$275,000
Premium/Discount to List
-$70,000
-20.29%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
12.87%

Purchase Details

Closed on
Sep 4, 2003
Sold by
Clark Herman
Bought by
Artavia Clark Cristina

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$311,920
Interest Rate
6.24%
Mortgage Type
Commercial

Purchase Details

Closed on
Sep 3, 2003
Sold by
Mitrak Inc
Bought by
Artavia Clark Christina

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$311,920
Interest Rate
6.24%
Mortgage Type
Commercial

Purchase Details

Closed on
May 27, 2003
Sold by
Mitrak Carl E and Mitrak Jo Ann
Bought by
Mitrak Inc

Purchase Details

Closed on
Sep 28, 2001
Sold by
Keil Earl L
Bought by
Mitrak Carl E and Mitrak Jo Ann

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$175,500
Interest Rate
7.13%
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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Purchase History

Date Buyer Sale Price Title Company
Said Medhat $725,000 Lawyers Title
Flamm Bruce L $275,000 Fidelity National Title Oran
Artavia Clark Cristina -- --
Artavia Clark Christina $390,000 United Title Company
Mitrak Inc -- --
Mitrak Carl E $195,000 Chicago Title Co
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Said Medhat $513,750
Previous Owner Artavia Clark Christina $311,920
Previous Owner Mitrak Carl E $175,500
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
02/15/2022 02/15/22 Sold $725,000 -3.2% $191 / Sq Ft
12/22/2021 12/22/21 Pending -- -- --
12/15/2021 12/15/21 For Sale $749,000 +172.4% $197 / Sq Ft
02/13/2014 02/13/14 Sold $275,000 -20.3% $72 / Sq Ft View Prior Sale
01/14/2014 01/14/14 Pending -- -- --
09/18/2013 09/18/13 For Sale $345,000 -- $91 / 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 $8,669 $769,375 $106,120 $663,255
2023 $8,669 $739,500 $102,000 $637,500
2022 $3,762 $317,657 $80,854 $236,803
2021 $3,702 $311,429 $79,269 $232,160
2020 $3,670 $308,237 $78,457 $229,780
2019 $3,592 $302,194 $76,919 $225,275
2018 $3,484 $296,269 $75,412 $220,857
2017 $3,444 $290,461 $73,934 $216,527
2016 $3,419 $284,767 $72,485 $212,282
2015 $3,409 $280,493 $71,398 $209,095
2014 $2,810 $235,000 $60,000 $175,000
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW21264878

California Regional Multiple Listing Service (CRMLS)

APN: 446-320-062