42081 3rd Street MultiFamily $7,500,000— Listed by Gavin Carlson, California Realty Group Inc

42081 3rd Street MultiFamily $7,500,000— Listed by Gavin Carlson, California Realty Group Inc

MLS - Broker Listed Properties

Updated on Sep 22, 2020

Incredible investment opportunity for a mixed use building in the heart of Old... $7,500,000

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Price$7,500,000
Bedrooms0
Bathrooms0
Address42081 3rd Street
Temecula, CA 92590
StatusActive
Broker California Realty Group Inc TEMECULA,CA 92590
Phone(951) 506-9683
Web site http://www.cabesthomes.com
Agent Gavin Carlson
Phone(951) 506-9683
Located in TEMECULA, CA
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.

    General

  • Provider name: California Realty Group Inc
  • Provider category: Broker
  • Property type: MultiFamily
  • Property sub type: Other
  • Listing category: Purchase
  • Mls name: California Regional Multiple Listing Service, Inc
  • Mls number: IV20140450
  • Lot size: 22651
  • Year built: 2010
  • Listing date: 2020-07-08
  • Listing title: Residential Income - Temecula, CA
  • Architecture style: Other
  • Cooling systems: Central A/C
  • Is new construction: no
  • Num floors: 3.0
  • Num parking spaces: 32
  • Roof types: Unknown
  • Taxes

  • $0
Copyright © 2020 California Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
 

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