42081 3rd Street
42081 3rd Street
$7,000,000
7
46
22,651
22,651
$309
Closed 3/16/22
Description
Incredible investment opportunity for a mixed use building in the heart of Old Town Temecula! With a total of 32 residential and 2 commercial units this property offers an investor the chance to own a well-maintained property, fully leased to 100% occupancy. Residential units offer value-add opportunities, with up-side rent potential. Building offers a gated 32 unit parking garage along with 2 commercial spaces on the ground floor. All residential units are contained on floors 2 and 3 inside a private...Incredible investment opportunity for a mixed use building in the heart of Old Town Temecula! With a total of 32 residential and 2 commercial units this property offers an investor the chance to own a well-maintained property, fully leased to 100% occupancy. Residential units offer value-add opportunities, with up-side rent potential. Building offers a gated 32 unit parking garage along with 2 commercial spaces on the ground floor. All residential units are contained on floors 2 and 3 inside a private interior courtyard. Single bedroom units come complete with fridge, oven, and microwave while each two bedroom contains stainless steel kitchen appliances and in unit washer/dryer units. Building includes 2 community laundry facilities, a private office for the on-site manager, security system/cameras, and a secure entry system for all residents. All residential units are on fixed term leases and both commercial tenants are on multi-year long leases. The residential units are subject to low-income restrictions and are subject to oversight by the Temecula city hall in return for a Welfare Exemption credit which significantly reduces the building's property tax liability. Ownership must be conveyed through a limited partnership with the general partner being a 501 C(3) tax exempt company. Sale is subject to review and approval by the Temecula Redevelopment Agency.
- Listed by GAVIN CARLSON • DRE #02017058 • Brokerage DRE #01938281 • CALIFORNIA REALTY GROUP INC.
Property Details for 42081 3rd Street
Parking Spaces Total
32
Private PoolNo
Total Units34.0
Building TypeAttached
Lot Size SourceAssessor
Living Area22651
Assessor Parcel Number922-046-012
Property Attached YNtrue
Location
LISTING UPDATED: 03/21/2022 08:43 AM
Property Details for 42081 3rd Street
Status | Closed |
---|---|
MLS # | IV22056346 |
Days on Market | 1 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Residential Income |
Year Built | 2010 |
Lot Size | 0.52 AC / 22,651 SF |
County | Riverside County |
Location
Building Information for 42081 3rd Street
Stories3Residences-Year Built2010Building Size-Lot Size0.52 AC / 22,651 SF
Payment Calculator
$44,760 per month
The Payment Calculator is for illustrative purposes only.
Property Information for 42081 3rd Street
Property History for 42081 3rd Street
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 42081 3rd Street
Taxable ValueLand$1,326,000Additions$5,814,000Total$7,140,000
Tax Record2023$78,699 ($6,558 / month)
Home Facts
Total Finished SqFt46,155 SqFtAbove Grade Finished SqFt46,155 SqFtStories3Lot Size22,651 SqFtStyleStoresYear Built2009ZoningC1CountyRIVERSIDEAPN922-046-012
Schools near 42081 3rd Street
This home is within Temecula Valley Unified School District.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | K to 5 | |||
Public - | 6 to 8 | |||
Public - | 9 to 12 | |||
Public - | 6 to 12 |
Rating | School | Distance |
---|---|---|
Vail Elementary School PublicK to 5 | ||
Margarita Middle School Public6 to 8 | ||
Temecula Valley High School Public9 to 12 | ||
Susan H. Nelson School Public6 to 12 |
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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