• -- Beds
  • -- Baths
  • 22,651 sq ft
  • 22,651 lot
  • $7,500,000
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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.
MLS #IV20140450Days on Market142
Last Updated7/17/2020Year Built2010
CommunitySouthwest Riverside CountyGarage Spaces32
CountyRiversideTotal Parking64
StatusActiveProperty Type(s)ResidentialIncome

Additional Features & Details

Building Area Units
  • Square Feet
Common Interest
  • None
Common Walls
  • 2+ common walls
Community Features
  • Sidewalks
Cooling
  • Central Air
Electric
  • Standard
Elevation Units
  • Feet
Fireplace Features
  • None
Heating
  • Central
Laundry Equipment Own Lease
  • Lease
Laundry Features
  • Common Area
  • See Remarks
Levels
  • Three Or More
Lot Features
  • 31-35 Units/Acre
Lot Size Source
  • Estimated
Lot Size Units
  • Square Feet
MLSArea Major
  • SRCAR - Southwest Riverside County
Parcel Number
  • 922046012
Parking Features
  • Private
Pool Features
  • None
Property Type
  • Residential Income
Senior Community YN
  • 0
Sewer
  • Public Sewer
Special Listing Conditions
  • Standard
Standard Status
  • Active
Tax Tract Number
  • 1
Utilities
  • Cable Connected
  • Electricity Connected
  • Natural Gas Connected
  • Phone Connected
  • Sewer Connected
  • Water Connected
Water Source
  • Public

Neighborhood Map

Walk Score for: 42081 3rd Street, Temecula, CA

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Listing provided by : GAVIN CARLSON License # 02017058, CALIFORNIA REALTY GROUP INC. Co-Listed with KRISTIN SCHLANSKY License # 01901518, CALIFORNIA REALTY GROUP INC.

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Based on information from California Regional Multiple Listing Service, Inc. as of 12/4/20 9:18 PM PST and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information

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