2981 Elgin Drive

Closed 7/31/15

Last Sold Price

$599,000

8 beds4 baths4,200 sqft$143/sqft

2981 Elgin Dr, Riverside, CA 92507

Description

Investors and aspiring investors. Take a look at this great property! This can be investment income or live in 1 unit and rent the other 3! This superb property is located just minutes from the University of California at Riverside. 4 units total; all with 2 bedrooms and 1.5 baths! Each unit has a cozy fireplace and a designated private fenced backyard area. This property is the best in the area with newer windows throughout and one of the few with central heat and A/C. In addition, the complex has...Investors and aspiring investors. Take a look at this great property! This can be investment income or live in 1 unit and rent the other 3! This superb property is located just minutes from the University of California at Riverside. 4 units total; all with 2 bedrooms and 1.5 baths! Each unit has a cozy fireplace and a designated private fenced backyard area. This property is the best in the area with newer windows throughout and one of the few with central heat and A/C. In addition, the complex has had the plumbing re-piped and a new roof installed over the past several years. As well as the local amenities available, the occupants of this complex have on-site laundry facilities and access to the sparkling association pool! Call now for addition info!

LISTING CLOSED: 07/31/2015 12:00 AM

Listed by James Cottrell • DRE #01445984 • Carrington Real Estate Service

Property Details for 2981 Elgin Drive

Status

Closed

MLS #

IG15095125

Days on Market

Taxes

HOA Fees

$394 / month

Condo/Co-op Fees

Property Type

Multi Family

MLS Type

Residential Income

Year Built

1973

Lot Size

0.18 AC / 8,018 SF

County

Riverside County

Parking Spaces Total

Private Pool

Yes

Cooling Type

Central Air

Total Units

4.0

Building Type

Detached

Lot Size Source

Assessor

Living Area

4200

Assessor Parcel Number

250-122-005

Property Attached YN

false

Common Walls

No Common Walls

Building Area Total

4200

Stories Total

Fireplace

Yes

Pool

Yes

Association

Yes

Association Fee

$394.00

Association Fee Frequency

Monthly

Parcel Number

250122005

Area

Riverside (252)

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Location

Listing Courtesy of Carrington Real Estate Service, James Cottrell, DRE #01445984

Sold By Kathleen Adams Real Estate, In, Kathleen Adams, DRE #01454467

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Building Information for 2981 Elgin Drive

Stories2Residences-Year Built1973Building Size-Lot Size0.18 AC / 8,018 SF

Payment Calculator

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OriginPoint Mortgage or Rocket Mortgage¹

$4,108 per month

30 year fixed, 6.55% Interest

Principal and Interest

$3,045

Property Taxes

$669

HOA Dues

$394

The Payment Calculator is for illustrative purposes only.

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Property Information for 2981 Elgin Drive

Rental Info

Tenant Pays: Cable TV, Electricity, Gas
Pets Allowed: Call For Rules

Income / Expense / Tax Details

Income Details

Gross Income: $39,888
Gross Scheduled Income: $39,888

Net Operating Income: $21,191
Other Income Description: laundry
Financing: Conventional

Expense Details

Operating Expense: $18,696
New Taxes Expense: $6,604

Cable TV Expense: $0
Licenses Expense: $145
Furniture Replacement Expense: $0
Electric Expense: $1,283
Insurance Expense: $2,402
Maintenance Expense: $2,611
Other Expense: $4,728
Other Expense Description: HOA
Trash Expense: $0
Water Sewer Expense: $0

Tax / Assessment Info

Tax Year: 2014
Tax Tract Number: 2602

Tax Lot: 15

Community / Development

Association Amenities: Pool
Community Features: Curbs, Sidewalks

Complex Name: TLC
Association Name: TLC

Property / Structure Info

Interior Features

Laundry: Yes
Laundry Features: Common Area, Community, Individual Room, Outside

Laundry Equipment Own Lease: Own
Fireplace Features: Family Room
Fireplace Rooms: Family Room
Cooling: Central Air
Heating Type: Forced Air
Heating: Forced Air
Heat Equipment: Forced Air Unit
Virtual Tour URL Unbranded: http://2981elgindr.eproptour.com

Exterior Features

Door Features: Sliding Doors
Window Features: Double Pane Windows

Foundation Details: Slab
Foundation Details: Slab
Pool Features: Association, Community, In Ground
Pool Description: Association Pool, Community, In Ground
Pool: Below Ground, Community/Common

Land/Lot Info

Lot Features: Cul-De-Sac
Number Of Units: 4

Land Lease Type: Fee
Road Frontage Type: City Street
Levels: Two
Water: Meter on Property
Sewer: In Connected and Paid
Utilities: Sewer Connected
Water Source: Public

Parking Info

Garage Spaces: 4
Parking: Yes

Parking Garage: Unassigned
Parking Garage Spaces: 4
Carport Spaces: 0
Parking Features: Unassigned

Unit Information

Unit 1

Unit Type Units Total: 1
Unit Type Beds Total: 2

Unit Type Baths Total: 1
Unit Type Furnished: Unfurnished
Unit Type Garage Spaces: 1
Unit Type Garage Attached: No
Unit Type Actual Rent: $925
Unit Type Total Rent: $925
Unit Type Pro Forma: 975
Unit Type Area Units: Square Feet
Unit Type Type: 1

Unit 2

Unit Type Units Total: 1
Unit Type Beds Total: 2

Unit Type Baths Total: 1
Unit Type Furnished: Unfurnished
Unit Type Garage Spaces: 1
Unit Type Garage Attached: No
Unit Type Actual Rent: $925
Unit Type Total Rent: $925
Unit Type Pro Forma: 975
Unit Type Area Units: Square Feet
Unit Type Type: 2

Unit 3

Unit Type Units Total: 1
Unit Type Beds Total: 2

Unit Type Baths Total: 1
Unit Type Furnished: Unfurnished
Unit Type Garage Spaces: 1
Unit Type Garage Attached: No
Unit Type Actual Rent: $575
Unit Type Total Rent: $575
Unit Type Pro Forma: 975
Unit Type Area Units: Square Feet
Unit Type Type: 3

Unit 4

Unit Type Units Total: 1
Unit Type Beds Total: 2

Unit Type Baths Total: 1
Unit Type Furnished: Unfurnished
Unit Type Garage Spaces: 1
Unit Type Garage Attached: No
Unit Type Actual Rent: $899
Unit Type Total Rent: $899
Unit Type Pro Forma: 975
Unit Type Area Units: Square Feet
Unit Type Type: 4

Unit Information

Rent Controlled: No
Number Of Buildings: 1

Number Of Separate Electric Meters: 5
Number Of Separate Gas Meters: 5
Number Of Separate Water Meters: 1

Property History for 2981 Elgin Drive

Date	Event & Source	Price	Appreciation
Jul 31, 2015	Sold SDMLS #IG15095125	$599,000	—
Jul 31, 2015	Sold CLAW #IG15095125MR	$599,000	—
Jul 31, 2015	Sold CRMLS #IG15095125	$599,000	—
Jun 7, 2015	Pending CLAW #IG15095125MR		—
Jun 7, 2015	Pending CRMLS #IG15095125		—
Jun 3, 2015	Sold (Public Record) Public Record #552906229	$599,000	+2.4% / yr
May 5, 2015	Listed (Active) CRMLS #IG15095125		—
May 5, 2015	Expired CRMLS #IG15095125		—
May 5, 2015	Listed (Active) CRMLS #IG15095125	$625,000	—
May 5, 2015	Listed (Active) CLAW #IG15095125MR	$625,000	—
May 4, 2015	Listed (Active) SDMLS #IG15095125	$625,000	—
Apr 9, 2004	Sold (Public Record) Public Record #132597209	$460,000	—
Apr 8, 2004	Sold CRMLS #CC213878	$460,000	—
Apr 8, 2004	Sold CRMLS #P363028	$460,000	—
Apr 8, 2004	Sold CLAW #P363028MR	$460,000	—
Mar 8, 2004	Pending CRMLS #P363028		—
Mar 8, 2004	Pending CLAW #P363028MR		—
Sep 26, 2003	Listed (Active) CRMLS #P363028	$500,000	—
Sep 26, 2003	Listed (Active) CRMLS #CC213878	$500,000	—
Sep 26, 2003	Listed (Active) CLAW #P363028MR	$500,000	—

Date	Event & Source	Price
07/31/2015	Sold SDMLS #IG15095125	$599,000
07/31/2015	Sold CLAW #IG15095125MR	$599,000
07/31/2015	Sold CRMLS #IG15095125	$599,000
06/07/2015	Pending CLAW #IG15095125MR	—
06/07/2015	Pending CRMLS #IG15095125	—
06/03/2015	Sold (Public Record) Public Record #552906229	$599,000 +2.4% / yr
05/05/2015	Listed (Active) CRMLS #IG15095125	—
05/05/2015	Expired CRMLS #IG15095125	—
05/05/2015	Listed (Active) CRMLS #IG15095125	$625,000
05/05/2015	Listed (Active) CLAW #IG15095125MR	$625,000
05/04/2015	Listed (Active) SDMLS #IG15095125	$625,000
04/09/2004	Sold (Public Record) Public Record #132597209	$460,000
04/08/2004	Sold CRMLS #CC213878	$460,000
04/08/2004	Sold CRMLS #P363028	$460,000
04/08/2004	Sold CLAW #P363028MR	$460,000
03/08/2004	Pending CRMLS #P363028	—
03/08/2004	Pending CLAW #P363028MR	—
09/26/2003	Listed (Active) CRMLS #P363028	$500,000
09/26/2003	Listed (Active) CRMLS #CC213878	$500,000
09/26/2003	Listed (Active) CLAW #P363028MR	$500,000

For completeness, we often displays two records for one sale: the MLS record and the public record.

Public Records for 2981 Elgin Drive

Taxable ValueLand$143,684Additions$579,582Total$723,266

Tax Record2025$8,032 ($669 / month)

Home Facts

Total Finished SqFt4,200 SqFtAbove Grade Finished SqFt4,200 SqFtStories2Lot Size7,841 SqFtStyleQuadraplexYear Built1965Year Renovated1965ZoningR3CountyRIVERSIDEAPN250-122-005

Schools near 2981 Elgin Drive

This home is within Riverside Unified School District.


Rating	School	Type	Grades	Distance
4/10	Highland Elementary School	Public - Serves this home	K to 6	0.3 mi
5/10	University Heights Middle School	Public - Serves this home	7 to 8	0.2 mi
5/10	John W. North High School	Public - Serves this home	9 to 12	0.8 mi
6/10	REACH Leadership STEAM Academy	Charter - Choice school	K to 6	0.4 mi
9/10	Riverside STEM Academy	Public - Choice school	5 to 12	1.6 mi
2/10	Abraham Lincoln Continuation School	Public - Choice school	9 to 12	2.2 mi
NR	Islamic Academy Of Riverside	Private - Nearby school	PK to 8	0.6 mi


Rating	School	Distance
4/10	Highland Elementary School PublicK to 6 Serves this home	0.3 mi
5/10	University Heights Middle School Public7 to 8 Serves this home	0.2 mi
5/10	John W. North High School Public9 to 12 Serves this home	0.8 mi
6/10	REACH Leadership STEAM Academy CharterK to 6 Choice school	0.4 mi
9/10	Riverside STEM Academy Public5 to 12 Choice school	1.6 mi
2/10	Abraham Lincoln Continuation School Public9 to 12 Choice school	2.2 mi
NR	Islamic Academy Of Riverside PrivatePK to 8 Nearby school	0.6 mi

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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Nearby home values

Address	Sold price	Beds	Baths	Sqft	Lot (Sqft)
This home: 2981 Elgin Drive, Riverside, CA 92507	$599,000	8	4	4,200	8,018
2963 Elgin Drive, Riverside, CA 92507	$375,000	4	4	4,100	7,295
2939 Elgin Drive, Riverside, CA 92507	$450,000	2	4	4,100	9,491
3041 Elgin Drive, Riverside, CA 92507	–	–	–	4,200	8,276
1000 Minerva Court, Riverside, CA 92507	$210,000	4	2	2,056	9,148
3030 Elgin Drive, Riverside, CA 92507	$835,000	2	8	4,200	6,529
3063 Elgin Drive, Riverside, CA 92507	$433,000	2	4	4,100	8,355
1003 Minerva Court, Riverside, CA 92507	$226,000	3	2	1,440	12,197
2989 Canyon Crest Drive, Riverside, CA 92507	$1,300,000	8	8	4,200	7,405
2929 Elgin Drive, Riverside, CA 92507	$1,080,000	8	8	4,000	10,454
1002 Massachusetts Avenue, Riverside, CA 92507	$234,000	4	3	2,187	10,018
2969 Canyon Crest Drive, Riverside, CA 92507	$650,000	–	–	4,200	8,004
3009 Canyon Crest Drive, Unit A, Riverside, CA 92507	$1,225,000	–	–	4,200	8,276
3009 Canyon Crest Drive, Riverside, CA 92507	$1,225,000	11	8	4,200	8,276
3064 Elgin Drive, Riverside, CA 92507	$239,000	–	–	4,200	8,276
1005 Athena Court, Riverside, CA 92507	–	3	2	1,440	10,019

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Listing Courtesy of Carrington Real Estate Service, James Cottrell, DRE #01445984

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.

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