Description
CBRE is proud to exclusively present a multifamily opportunity located in the City of Murrieta! Murrieta Seniors Portfolio is a prime Murrieta 55+ offering located just east of the I-215 freeway, within close proximity of downtown Murrieta. The location offers convenient freeway access and is located in a mature, highly desirable, quiet, low-traffic sector of Murrieta, within 1 mile of shopping, restaurants and more. The area also offers convenient access to the neighboring cities of Temecula, Lake Elsinore and Hemet via the I-215, I-15 and 79 freeways. Access to South Orange County is provided using Highway 74 and Oceanside is accessible within an hour's drive on I-15. This unique offering features 41 individual manufactured homes operated as rentals. This provides an attractive housing alternative to seniors, who may prefer a more traditional home lifestyle without the drawbacks of apartment living or home ownership. The homes are well-maintained and offer significant rental upside for new ownership. The 41 properties within the portfolio total to 57,406 rentable square feet with a total land area of 4.65 Acres. The property offers an excellent mix of two-bedroom/two-bathroom and three-bedroom/ two-bathroom homes averaging 1,400 square feet. The property has historically high occupancy and is generating $56,765 in monthly rental income. There is a rental upside of approximately 20% that can be realized through renovation of the homes to bring them to market rates.
Details
MLS# | CV19254175 |
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Sub-Type | Resale |
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Status | Active |
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Year | 1971 |
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Days On Site | 41 |
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Features
Units | 41 |
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Building(s) | 1 |
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Golf Course | Yes |
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Date | Sales | Avg $ Per SqFt | Min Sale Price | Max Sale Price | Med Sale Price |
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Date: Nov 2019 | Sales: 11 | Avg $ Per SqFt: $51.74 | Min Sale Price: $1,850 | Max Sale Price: $455,000 | Med Sale Price: $2,400 |
Date: Oct 2019 | Sales: 37 | Avg $ Per SqFt: $124.77 | Min Sale Price: $1,595 | Max Sale Price: $522,000 | Med Sale Price: $299,000 |
Date: Sep 2019 | Sales: 75 | Avg $ Per SqFt: $151.63 | Min Sale Price: $1,300 | Max Sale Price: $695,000 | Med Sale Price: $417,500 |
Date: Aug 2019 | Sales: 134 | Avg $ Per SqFt: $134.82 | Min Sale Price: $1,200 | Max Sale Price: $599,888 | Med Sale Price: $392,000 |
Date: Jul 2019 | Sales: 139 | Avg $ Per SqFt: $145.83 | Min Sale Price: $1,090 | Max Sale Price: $735,000 | Med Sale Price: $405,000 |
Date: Jun 2019 | Sales: 131 | Avg $ Per SqFt: $162.08 | Min Sale Price: $1,145 | Max Sale Price: $587,500 | Med Sale Price: $427,000 |
Date: May 2019 | Sales: 182 | Avg $ Per SqFt: $158.01 | Min Sale Price: $875 | Max Sale Price: $685,000 | Med Sale Price: $422,745 |
Date: Apr 2019 | Sales: 167 | Avg $ Per SqFt: $164.78 | Min Sale Price: $1,410 | Max Sale Price: $649,900 | Med Sale Price: $414,000 |
Date: Mar 2019 | Sales: 297 | Avg $ Per SqFt: $157.03 | Min Sale Price: $795 | Max Sale Price: $625,000 | Med Sale Price: $375,000 |
Date: Feb 2019 | Sales: 377 | Avg $ Per SqFt: $159.8 | Min Sale Price: $1,100 | Max Sale Price: $670,000 | Med Sale Price: $395,500 |
Date: Jan 2019 | Sales: 338 | Avg $ Per SqFt: $157.78 | Min Sale Price: $700 | Max Sale Price: $1,300,000 | Med Sale Price: $408,895 |
Nov 2019 |
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Sales: | 11 |
Avg $ Per SqFt: | $51.74 |
Min Sale Price: | $1,850 |
Max Sale Price: | $455,000 |
Med Sale Price: | $2,400 |
Oct 2019 |
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Sales: | 37 |
Avg $ Per SqFt: | $124.77 |
Min Sale Price: | $1,595 |
Max Sale Price: | $522,000 |
Med Sale Price: | $299,000 |
Sep 2019 |
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Sales: | 75 |
Avg $ Per SqFt: | $151.63 |
Min Sale Price: | $1,300 |
Max Sale Price: | $695,000 |
Med Sale Price: | $417,500 |
Aug 2019 |
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Sales: | 134 |
Avg $ Per SqFt: | $134.82 |
Min Sale Price: | $1,200 |
Max Sale Price: | $599,888 |
Med Sale Price: | $392,000 |
Jul 2019 |
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Sales: | 139 |
Avg $ Per SqFt: | $145.83 |
Min Sale Price: | $1,090 |
Max Sale Price: | $735,000 |
Med Sale Price: | $405,000 |
Jun 2019 |
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Sales: | 131 |
Avg $ Per SqFt: | $162.08 |
Min Sale Price: | $1,145 |
Max Sale Price: | $587,500 |
Med Sale Price: | $427,000 |
May 2019 |
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Sales: | 182 |
Avg $ Per SqFt: | $158.01 |
Min Sale Price: | $875 |
Max Sale Price: | $685,000 |
Med Sale Price: | $422,745 |
Apr 2019 |
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Sales: | 167 |
Avg $ Per SqFt: | $164.78 |
Min Sale Price: | $1,410 |
Max Sale Price: | $649,900 |
Med Sale Price: | $414,000 |
Mar 2019 |
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Sales: | 297 |
Avg $ Per SqFt: | $157.03 |
Min Sale Price: | $795 |
Max Sale Price: | $625,000 |
Med Sale Price: | $375,000 |
Feb 2019 |
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Sales: | 377 |
Avg $ Per SqFt: | $159.8 |
Min Sale Price: | $1,100 |
Max Sale Price: | $670,000 |
Med Sale Price: | $395,500 |
Jan 2019 |
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Sales: | 338 |
Avg $ Per SqFt: | $157.78 |
Min Sale Price: | $700 |
Max Sale Price: | $1,300,000 |
Med Sale Price: | $408,895 |
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