49

42081 3RD ST Temecula, CA 92590

$7,500,000

Bedrooms

Total Baths

Full Baths

22,651

Square Feet

0.52

Acres

2010

Year Built

350 days

On Website

Active

Status

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.

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Details


Interior
Living Area
22,651 SqFt.

Building And Construction
Number Of Units Total
34
Property Sub Type
Multi Family
Property Type
Residential Income
Year Built
2010

Exterior And Lot
Lot Size Acres
0.52
Lot Size Square Feet
22651
Lot Size Units
Square Feet
Parking Total
32
Zoning
C1

Utilities
Cooling
Central Air
Heating
Central

Area And Schools
City
Temecula
County Or Parish
Riverside

Financial Info

Listing By CALIFORNIA REALTY GROUP INC. – GAVIN CARLSON

MLS# IV20140450

Data Last Updated 11:15am - 06/23/2021

California Regional MLS

The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. "CRMLS" and is protected by all applicable Copyright© 2021 laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional. Information deemed reliable but not guaranteed. Copyright© 2021 California Regional Multiple Listing Service, Inc. All rights reserved.

92590 Statistics and Information

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