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Golf Course - Master on Main - Adult 55+
Address
38221 Camino Cinife Murrieta, CA
Price
$ 8,950,000
Property Attributes
  • MLS#CV19254175
  • TypeIncome
  • CountyRIVERSIDE
  • CityMurrieta
  • AreaSouthwest Riverside County
  • Zip92563
  • Style
  • Price$ 8,950,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Sqr Footage57406
  • Lot Size4.65 Acres
Listing Provided Courtesy Of:
ERIC CHEN with CB RICHARD ELLIS.
Property 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.

Price History
10/30/2019 Listed $8,950,000

General Features

Assessments Special Assessments
Association Amenities Pool, Clubhouse, Maintenance Grounds
Association Y/N Yes
Attached Structure Detached
Community Features Curbs, Golf, Suburban
Directions From I-215, exit Murrieta Hot Springs Rd, head East, turn left onto Via Princesa.
HOA Fee 85.00
HOA Fee Frequency Monthly
Levels One
Listagentaor Citrus Valley
Listing Agent ERIC CHEN - BRE#01489184
Listing Agent State License 01489184
MLS Area SRCAR - Southwest Riverside County
Price Per Square Foot 155.91
Senior Community Y/N Yes
Source System CRMLS
Special Listing Conditions Standard
Total Units 41

Interior Features

1st Bedroom Area Unit Type Square Feet
2nd Bedroom Area 1386
2nd Bedroom Area Unit Type Square Feet
3rd Bedroom Area 1668
3rd Bedroom Area Unit Type Square Feet
Air Conditioning Y/N Yes
Common Walls No Common Walls
Cooling See Remarks
Fireplace Features See Remarks
Fireplace Y/N Yes
Heating See Remarks
Heating Y/N Yes
Laundry Features Gas Dryer Hookup, Inside, Washer Hookup
Laundry Y/N Yes
Room Type All Bedrooms Down
Studio Area Unit Type Square Feet

Exterior Features

Building Area Total 57406.00
Garage Spaces 0.00
Lot Features Back Yard, Close to Clubhouse, On Golf Course, Yard
Lot Size Acres 4.6516
Lot Size Area 202624.0000
Lot Size Source Assessor
Lot Size Square Feet 202624.00
Lot Size Units Square Feet
Number of Buildings 41
Number of Separate Electric Meters 41
Number of Separate Gas Meters 41
Number of Separate Water Meters 41
Parking Features Carport
Parking Y/N Yes
Pool Features Association, In Ground
Sewer Public Sewer
Total Parking 0.00
Water Source Public

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Master On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Zip Code Average in 92563

Price
AVG $4.69M
$8.95M
Visits
AVG 31
15
Year Built
AVG 1989
1971

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