789 S State Street

    San Jacinto, CA 92583
    • $1,600,000
    • STATUS: Active
    • ON SITE: 9 days
    • ID#: CV19020077
    UPDATED: 18 min ago
    $1,600,000
    • 0
      BEDS
    • 1.5
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 11,750
      SQFT
    • $136
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1950
    County:

    School Ratings & Info

    Description

    CURRENT ACTUAL CAP RATE AT 6.05%. ONLY $136.17 PER SQUARE FOOT. CONTACT LISTING AGENT FOR MORE DETAILS. We are pleased to exclusively present a 20-unit, single-story multi-family investment opportunity in San Jacinto, California. Sitting on a expansive 1.5 acre lot, the property is neatly positioned in two rows with a lush, shared common courtyard. The privacy and layout provided by individual cottage units have attracted and maintained longer-term tenants, with some tenants occupying the units for more than 10 years.The property benefits from both its close proximity to the Ramona Expressway State Route 79 as well as nearby access to national retailers such as Wal Mart Supercenter, Family Dollar, and Chase Bank to name a few. With no comparable apartment building in this immediate location, there is a strong demand and a lack of supply of apartments in the immediate area. A future owner has the ability to own a unique, true value-add opportunity that can achieve significant upside within a relatively short period of time. The investment appeal of this asset is driven by the property+GGs current value-add component through upgrade of the units and leveling rents to market.

    Monthly Payment Calculator



    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-02-17T18:30:02.89. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
    www.hellerthehomeseller.com/homes/91642229

    789 S State Street San Jacinto, CA 92583

    • Price: $1,600,000
    • Status: Active
    • Updated: 18 min ago
    • ID#: CV19020077
    0
    Beds
    0
    Baths
    0
    ½ Baths
    1.5
    Acres
    11,750
    SQFT
    $136
    $/SQFT
    1950
    Built
    Neighborhood:
    223 - Hemet/San Jacinto
    County:
    Riverside
    Area:
    223 - Hemet/San Jacinto
    Property Description
    CURRENT ACTUAL CAP RATE AT 6.05%. ONLY $136.17 PER SQUARE FOOT. CONTACT LISTING AGENT FOR MORE DETAILS. We are pleased to exclusively present a 20-unit, single-story multi-family investment opportunity in San Jacinto, California. Sitting on a expansive 1.5 acre lot, the property is neatly positioned in two rows with a lush, shared common courtyard. The privacy and layout provided by individual cottage units have attracted and maintained longer-term tenants, with some tenants occupying the units for more than 10 years.The property benefits from both its close proximity to the Ramona Expressway State Route 79 as well as nearby access to national retailers such as Wal Mart Supercenter, Family Dollar, and Chase Bank to name a few. With no comparable apartment building in this immediate location, there is a strong demand and a lack of supply of apartments in the immediate area. A future owner has the ability to own a unique, true value-add opportunity that can achieve significant upside within a relatively short period of time. The investment appeal of this asset is driven by the property+GGs current value-add component through upgrade of the units and leveling rents to market.
    Exterior Features

    Garage Spaces 0.00 Lot Features 11-15 Units/Acre Lot Size Source Assessor Lot Size Units Acres Other Structures Storage Parking Total 25.00 Pool Features None Pool Private YN No Property Attached YN No Spa Features None Spa YN No

    Interior Features

    Average Studio Area 550 Average Studio Area Units Square Feet Average1 Bed Area 800 Average1 Bed Area Units Square Feet Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls No Common Walls Laundry Features None Levels One

    Property Features

    Additional Parcels YN No Association Fee 0.00 Association YN No Building Area Units Square Feet Cap Rate 6.05 Community Features Suburban Country Us Electric Expense 14469.00 Elevation Units Feet Fuel Expense 3620.00 Gross Income 177420.00 Gross Scheduled Income 177420.00 Insurance Expense 3287.00 Land Lease YN No Laundry YN No Maintenance Expense 8459.00 Net Operating Income 96869.00 New Construction YN No New Taxes Expense 20037.00 Number Of Separate Electric Meters 1 Number Of Separate Gas Meters 1 Number Of Separate Water Meters 1 Operating Expense 75228.00 Professional Management Expense 8400.00 Rent Control YN No Security Features Gated Community Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Total Expenses 75228.00 Trash Expense 2486.00 Water Sewer Expense 14469.00 Water Source Public

    Listing provided courtesy of Sean Hwangbo of Realty One Group, Inc.


    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-02-17T18:30:02.89. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
     
    Heller The Home Seller
    171 Saxony Road, Ste. 205
    Encinitas CA, 92024