42081 3rd Street
Temecula, CA 92590
- – beds
- – baths
- – sqft
- ~1/2 acre lot
- 2010 build
- – on site
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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.
Last checked:
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Last updated Mar 25, 2023
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MLS# IV22056346 —
The Building
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Year Built:2010
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Year Built Source:Appraiser
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New Construction:No
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Common Walls:2+ Common Walls
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Building Area Total:22651.00
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Building Area Units:Square Feet
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# of Buildings:1
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Total Number Of Units:34
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# of Separate Gas Meters:35
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# of Separate Water Meters:1
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# of Separate Electric Meters:35
Interior
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Levels:Three Or More
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Laundry:Common Area, Inside, Stackable
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Laundry:1
Location
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Directions:Off Main St and 3rd St
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Latitude:33.49202300
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Longitude:-117.14824500
The Property
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Property Type:Residential Income
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Zoning:C1
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Lot Features:36-40 Units/Acre
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Lot Size Area:22651.0000
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Lot Size Acres:0.5200
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Lot Size SqFt:22651.00
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Lot Size Source:Assessor
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Property Attached:1
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Additional Parcels:No
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Land Lease:No
Listing Agent
- Contact info:
- No listing contact info available
Taxes
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Tax Block:29
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Tax Census Tract:512.00
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Tax Tract:1
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Tax Lot:1
The Listing
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Special Listing Conditions:Standard
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Parcel Number:922046012
Utilities
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Sewer:Public Sewer
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Water Source:Public
The Community
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Senior Community:No
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Features:Curbs, Sidewalks
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Pool:None
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Private Pool:No
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Association:No
Parking
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Parking Spaces:32.00
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Garage Spaces:32.00
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Max Internet Speed
Provided by BroadbandNow®
View a full reportThis is the maximum advertised internet speed available for this home. Under 10 Mbps is in the slower range, and anything above 30 Mbps is considered fast. For heavier internet users, some plans allow for more than 100 Mbps.
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
3/21/22
Mar 21, 2022
|
Listed / Active | CRMLS_CA | $7,500,000 | 7.1% |
|
3/16/22
Mar 16, 2022
|
Sold | CRMLS_CA | $7,000,000 | |
|
3/30/21
Mar 30, 2021
|
Sold Subject To Contingencies | CRMLS_CA |
