29206 Via Princesa

    Murrieta, CA 92563
    • $1,240,000
    • STATUS: Active
    • ON SITE: 106 days
    • ID#: SW18126514
    $1,240,000
    • 0
      BEDS
    • 0.07
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 12,120
      SQFT
    • $102
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1975
    County:

    School Ratings & Info

    Description

    Great cash flow opportunity knocks. 8 INDIVIDUAL MANUFACTURED HOMES OPERATED AS RENTALSThe portfolio consists of 8 individual manufactured home rentals within The Knolls 55+ senior community. The Knolls consists of 1,120 manufactured homes located within three similar individual HOAs. Each home is on its own individual lot and each HOA offers a recreation center and resort style pool. The HOAs limit the percentage of rental homes within each HOA to no more than 25% of the homes (280 homes), and the HOAs strictly enforce this rule. The 8 homes in the Murrieta Seniors Portfolio are part of the allowable 25%, and the limits on further rentals is an insurance policy against added competition. ALL ARE LARGE TWO BEDROOM FLOOR PLANS. The homes within the Murrieta Seniors Portfolio are all large two-bedroom floor plans and average 1,347 square feet. These large homes are ideal for either roommate situations or seniors who are downsizing from a single-family home and require a larger rental in order to accommodate their furnishings. Each of the 8 homes is single level in design and slightly different, with many offering large patios private backyards, covered parking, garages, or spectacular views. There is also considerable upside room on future rents.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-09-19T00:29:54.113. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
    www.playavistaliving.com/homes/84245157

    29206 Via Princesa Murrieta, CA 92563

    • Price: $1,240,000
    • Status: Active
    • ID#: SW18126514
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.07
    Acres
    12,120
    SQFT
    $102
    $/SQFT
    1975
    Built
    Neighborhood:
    208 - Murrieta-East
    County:
    Riverside
    Area:
    208 - Murrieta-East
    Property Description
    Great cash flow opportunity knocks. 8 INDIVIDUAL MANUFACTURED HOMES OPERATED AS RENTALSThe portfolio consists of 8 individual manufactured home rentals within The Knolls 55+ senior community. The Knolls consists of 1,120 manufactured homes located within three similar individual HOAs. Each home is on its own individual lot and each HOA offers a recreation center and resort style pool. The HOAs limit the percentage of rental homes within each HOA to no more than 25% of the homes (280 homes), and the HOAs strictly enforce this rule. The 8 homes in the Murrieta Seniors Portfolio are part of the allowable 25%, and the limits on further rentals is an insurance policy against added competition. ALL ARE LARGE TWO BEDROOM FLOOR PLANS. The homes within the Murrieta Seniors Portfolio are all large two-bedroom floor plans and average 1,347 square feet. These large homes are ideal for either roommate situations or seniors who are downsizing from a single-family home and require a larger rental in order to accommodate their furnishings. Each of the 8 homes is single level in design and slightly different, with many offering large patios private backyards, covered parking, garages, or spectacular views. There is also considerable upside room on future rents.
    Exterior Features

    Foundation Details Pillar/Post/Pier Garage Spaces 0.00 Lot Features Back YardClose To ClubhouseFront Yard Lot Size Source Assessor Lot Size Units Square Feet Parking Features Carport AttachedCovered ParkingDriveway Parking Total 0.00 Parking YN Yes Pool Features AssociationCommunity Pool Pool Private YN No Property Attached YN No Road Surface Type Paved Spa Features AssociationCommunity Spa YN Yes

    Interior Features

    Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area 1515 Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls No Common Walls Cooling Central Cooling YN Yes Flooring CarpetLaminateTile Heating Central FurnaceNatural Gas Heating YN Yes Laundry Features In ClosetIndividual RoomInside Levels One Room Type All Bedrooms Down

    Property Features

    Additional Parcels Description 913082025908200081913063023913031005908220029913074018913082032913101016 Additional Parcels YN Yes Association Amenities PoolSpaBarbecueClub HouseRecreational Multipurpose Room Association Fee 7200.00 Association Fee Frequency Annually Association YN Yes Building Area Units Square Feet Cap Rate 6.10 Community Features Curbs Country Us Elevation Units Feet Gross Equity 1240000 Gross Income 99024.00 Gross Operating Income 99024.00 Gross Scheduled Income 99024.00 Gross Spendable Income 99024.00 Insurance Expense 3200.00 Land Lease YN No Laundry YN Yes Net Operating Income 75424.00 New Taxes Expense 13200.00 Number Of Separate Electric Meters 8 Number Of Separate Gas Meters 8 Number Of Separate Water Meters 8 Number Of Units Leased 8 Number With Range 8 Number With Refrigerator 8 Operating Expense 23600.00 Present Loans 0 Professional Management Expense 7200.00 Property Sub Type Manufactured On Land Rent Control YN No Security Features Carbon Monoxide Detector(S)Smoke Detector Senior Community YN Yes Special Listing Conditions Standard Subdivision Name Other The Knolls 55+ Senior Community Total Actual Rent 99024.00 Total Expenses 23600.00 Trash Expense 0.00 Utilities Phone ConnectedSewer ConnectedWater Connected Vacancy Allowance 2500 Vacancy Allowance Rate 2.50 Water Source Public Year Built Source Assessor

    Listing provided courtesy of Jeffrey Bast of Kw Temecula.


    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-09-19T00:29:54.113. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
     
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