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Address
789 S State Street San Jacinto, CA
Price
$ 1,560,000
Property Attributes
  • MLS#CV19020077
  • TypeContingent
  • CountyRIVERSIDE
  • CitySan Jacinto
  • AreaSouthwest Riverside County
  • Zip92583
  • Style
  • Price$ 1,560,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Sqr Footage11750
  • Lot Size1.5 Acres
Listing Provided Courtesy Of:
SEAN HWANGBO with REALTY ONE GROUP WEST.
Property Description

CURRENT ACTUAL CAP RATE AT 6.37% WITH REALISTIC PRO FORMA CAP RATE OF 7.17%. ONLY $132.77 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’s current value-add component through upgrade of the units and leveling rents to market.

Price History
2/7/2019 Listed $1,600,000
7/1/2019 3% - $1,560,000

General Features

Attached Structure Detached
Community Features Suburban
Directions State Street Apartments sit south of 7th Street and west of San Jacinto Avenue on State Street. Cross Streets: 7th Street & San Jacinto
HOA Fee 0.00
Levels One
Listagentaor Citrus Valley
Listing Agent SEAN HWANGBO - BRE#01945497
Listing Agent State License 01945497
MLS Area SRCAR - Southwest Riverside County
Price Per Square Foot 132.77
Security Features Gated Community
Source System CRMLS
Spa Features None
Total Units 20

Interior Features

1st Bedroom Area 800
1st Bedroom Area Unit Type Square Feet
2nd Bedroom Area Unit Type Square Feet
3rd Bedroom Area Unit Type Square Feet
Common Walls No Common Walls
Laundry Features None
Studio Area 550
Studio Area Unit Type Square Feet
Total Stories 1

Exterior Features

Special Listing Conditions Standard
Building Area Total 11750.00
Garage Spaces 0.00
Lot Features 11-15 Units/Acre
Lot Size Acres 1.5000
Lot Size Area 1.5000
Lot Size Source Assessor
Lot Size Square Feet 65340.00
Lot Size Units Acres
Number of Buildings 18
Number of Separate Electric Meters 1
Number of Separate Gas Meters 1
Number of Separate Water Meters 1
Other Structures Storage
Pool Features None
Sewer Public Sewer
Total Parking 25.00
Uncovered Spaces 25.00
Water Source Public

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Master On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Zip Code Average in 92583

Price
AVG $310K
$1.56M
Visits
AVG 13
37
Year Built
AVG 1989
1950
Walkscore
AVG 29
56
Data Provided by Walkscore ® not using MLS data

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