$2,950,000
$2,950,000
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1 Acres Lot
SOLD DATE : 11/25/2020
Key Details
Sold Price $2,950,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
MLS Listing ID CV20180558
Sold Date 11/25/20
HOA Y/N No
Year Built 1987
Lot Size 1.000 Acres
Property Description
We are pleased to offer for sale this pride of ownership asset located in the highly desirable rental community of Murrieta. Located just minutes to the city of Temecula, and situated on an acre of land, the subject property is comprised of 16 (2 Bedroom / 2 Bathroom) units. The rental units offer spacious living with an average unit size of 852 sqft, and tenants enjoy amenities such as Central A/C & Heat, private balcony or patio, onsite car-port and open space parking, access to a sparkling pool and jacuzzi, as well as an onsite recreation room. Units are separately metered for electricity and gas, while the owner pays for water and trash. There is an onsite leasing office, an onsite laundry room (machines owned by owner), and the subject property is securely gated with two automatic gated entry points. Offered at a current 4.76% CAP Rate and 11.3 GRM, not to mention priced attractively at $184,375 per unit, this property offers the next investor a great opportunity for cash-flow and growth.
Location
State CA
County Riverside
Area 699 - Not Defined
Interior
Fireplace No
Laundry Common Area, Inside
Exterior
Carport Spaces 16
Pool Community, In Ground
Community Features Curbs, Gutter(s), Sidewalks, Pool
Total Parking Spaces 32
Private Pool No
Building
Lot Description 16-20 Units/Acre, Lot Over 40000 Sqft
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 913172002
Energy Description 4583.0
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Financing Cash to New Loan
Special Listing Condition Standard
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Bought with Alex Figueroa • Keller Williams Brea Fullerton
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "
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