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DENISE GENTILE REALTOR
(951) 751-1311(951) 751-1311

DENISE GENTILE REALTOR

(951) 751-1311(951) 751-1311

42081 3rd Street, Temecula, CA 92590 (MLS # IV20140450)

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PRICE $7,500,000
BEDS n/a
BATHS 0 baths
HOME SIZE 22,651 sq ft
LOT SIZE 22,651 sqft

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.

DAYS ON MARKET 30 LAST UPDATED 7/17/2020
YEAR BUILT 2010 COMMUNITY Southwest Riverside County
GARAGE SPACES 32.0 COUNTY Riverside
TOTAL PARKING 64 STATUS Active
PROPERTY TYPE(S) ResidentialIncome


ADDITIONAL DETAILS
BUILDINGAREAUNITS Square Feet
COLISTAGENTFIRSTNAME KRISTIN
COLISTAGENTLASTNAME SCHLANSKY
COLISTAGENTSTATELICENSE 01901518
COLISTOFFICENAME CALIFORNIA REALTY GROUP INC.
COMMONINTEREST None
COMMONWALLS 2+ common walls
COMMUNITYFEATURES Sidewalks
COOLING Central Air
ELECTRIC Standard
ELEVATIONUNITS Feet
FIREPLACEFEATURES None
GARAGESPACES 32.00
HEATING Central
LANDLEASEYN 0
LAUNDRYEQUIPMENTOWNLEASE Lease
LAUNDRYFEATURES Common Area, See Remarks
LEVELS Three Or More
LISTAGENTSTATELICENSE 02017058
LOTFEATURES 31-35 Units/Acre
LOTSIZESOURCE Estimated
LOTSIZEUNITS Square Feet
MLSAREAMAJOR SRCAR - Southwest Riverside County
PARCELNUMBER 922046012
PARKINGFEATURES Private
POOLFEATURES None
PRICEPERSQUAREFOOT 331.11
PROPERTYTYPE Residential Income
SENIORCOMMUNITYYN 0
SEWER Public Sewer
SPECIALLISTINGCONDITIONS Standard
STANDARDSTATUS Active
TAXTRACTNUMBER 1
UTILITIES Cable Connected, Electricity Connected, Natural Gas Connected, Phone Connected, Sewer Connected, Water Connected
WATERSOURCE Public

ZESTIMATE
42081 3rd Street, Temecula, CA

RENT ZESTIMATE
$ / mo.  42081 3rd Street, Temecula, CA

75 Very Walkable

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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.

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 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.

Based on information from California Regional Multiple Listing Service, Inc. as of 8/14/20 5:32 PM PDT 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

DENISE GENTILE REALTOR
DRE 01392403

Coldwell Banker Associated Brokers Realty
29950 Haun Rd. Ste 101 Menifee, Ca 92586

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