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1321 North Palm Avenue

1321 North Palm Avenue, Hemet, CA 92543
Sold Apr 26, 2022
$550,000
$602,500 by Trilion Capital Fund Llc
Mortgage
Sold Sep 22, 2021
$575,000
$470,000 by Pacific Point Realty Fund Llc
Mortgage
1321 North Palm Avenue has been categorized by the local assessors in Hemet, CA as a residential type of property. The building on the property was first built in 1981 and is 43 years old. The home has a total of 6 bedrooms. Residents will have access to 4 full bathrooms. There are 5 partial bathrooms in the home. This is a single story building so stairs are not necessary to access other parts of the home. In addition, 1321 North Palm Avenue has 4,378 sqft of living area. The living area typically only takes into consideration the heated or air conditioned part of the building. The area measurement of the land has been determined as 47,045 square feet. Fans of architecture and design would be interested in knowing that the building on the property was built in a multifamily style.

Want to learn more? We've sourced additional information from the local assessor's office that we've shared on this page with you. For the features and amenities located on the property. There is a detached garage for those who require parking. The garage measured 408 sqft. According to our sources, there are a total of 2 available parking spaces. Love to swim? You'll be excited to find out that there is a pool on the property. Along the lines of building condition, did you know that weather changes can cause buildings to move? It may sound alarming, but thats why the type of control joints used in the construction of your home is extremely important. Architects often have to plan these out well in advance to ensure the longevity of the building. Therefore, as part of your consideration, you should note that the home was built with wood control joints. From what we've gathered, the quality of these control joints have been graded with a letter grade of B by the local assessor. The roof of the building is made of tile. The inside of the home is being cooled with central air conditioning at the moment. In terms of heating, it is utilizing a central heating system and being fueled with gas. There is a single fireplace in the home. Perfect for those wintery nights. Finally, the property is currently sourcing its water from a water system. The building on the property is connected to a sewer system. We've gathered and summarized the following transaction history in an effort to provide more transparency and up-to-date information for our users. According to our sources, 1321 North Palm Avenue sold most recently in Apr 11, 2022 for a total of $550,000. If you work out the math, that's approximately a cost of $89.37 per sqft. Before that, the property was also sold for $575,000 in Sep 16, 2021. There could be many factors that caused the property to sell at a lower price and decrease in value. Tax-wise, the current owner is expected to pay close to $6,437 in taxes each year. The initial year of tax delinquency occurred in 2022. 1321 North Palm Avenue was most recently assessed in 2023. During this assessment, the property's total value was estimated to be about $561,000. If we break it down further, the land itself was valued at $561,000. The property's total assessed value has been marked as more than the total market value which is pretty atypical. If you're currently on the market shopping for a loan, then you've most likely encountered the two terms "interest rate" and "annual percentage rate (aka APR)". But do you know the difference between the two? Typically, APRS are higher than interest rates because they include most additional fees and one-time costs. As a result, it's important to look at both and if you notice that your APR is significantly higher, that might mean that too many additional fees are being charged. Sadly, this property is not available for sale but we are constantly updating our inventory in real time. Sign up for a RealtyHop account and add this property to your favorites to get updates on when this property is back on the market. Or alternatively, you can check back frequently for updates.

Building Features

Parking

Carport
RV Parking
Gated Parking

Driveway

Driveway
This property description is generated based on publicly available data.

Building Info

Overview

    General

  • Year Built: 1981
  • Building Count: 2
  • Bedroom Count: 6
  • Bathroom Count: 5
  • Full Bathrooms: 4
  • Partial Bathrooms: 5
  • Building Quality: B
  • Construction Type: Wood
  • Building Style: Multifamily
  • Roof Cover Type: Tile
  • Floor Count: 1
  • Basement Area: 0
  • Garage Type: Detached
  • Garage Square Area: 408
  • Parking Space Count: 2
  • Pool Type: Pool

    Dimensions

  • Lot Size Square Feet: 47,045
  • Total Building Area: 6,154
  • Gross Building Area: 6,154
  • Building Area: 4,378
  • Building Area Measurement: Living Area

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: Central air conditioning
  • Heating: Central heating
  • Heated Square Feet: 4,378
  • Heating Fuel Type: Gas

    Utilities

  • Sewer System: Yes
  • Water Service: Yes

Building

  • Property Class: Residential
  • Subdivision: SAN JACINTO LAND ASSOCIATION
  • Land Acres: 1.08
  • Standard Land Use Code: Single family residential
  • Legal Description 1: 1.08 ACRES NET IN LOT 1 MB 394/022 TR 31737

Ownership

  • Current Owner : MHM DEVELOPMENT CORP
  • Previous Owner : FRANK ROMANO
  • Owner Before Previous Owner: JMAC GROUP INTERNATIONAL LLC
  • Ownership Rights Codes: Company/Corporation
  • Current Owner Is a Corporation Indicator: Yes

Neighborhood

  • School District Name: Hemet Unified School District
  • Census Tract: 043506

Zoning

  • Zoning: A11

Geography

  • Subdivision Tract Number: 31737
  • Parcel: 444-360-050
  • Lot: 1
  • Municipality: HEMET
  • Latitude: 33.7696
  • Longitude: -116.981

    Address

  • Full Address: 1321 N Palm Ave
  • Address - House Number: 1321
  • Street Direction: N
  • Address - Street Name: Palm
  • Address - Suffix Type: Ave
  • State: CA
  • City Name: Hemet
  • Carrier Code: C052
  • 4-Digit Zip Code: 1895
  • Zip Code: 92543

Valuation

    Tax

  • Total Area: 2,769
  • Tax Year: 2023
  • Tax Amount: $6,437
  • Intital Tax Deliquent Year: 2022
  • Tax Rate Code Area: 006-222

    Appraisal Valuation

  • Standard Deviation: 0.1679
  • Valuation Date: Feb 14, 2024
  • Confidence Score: 78
  • Final Value: 543,290
  • High Value: 634,548
  • Low Value: 452,033

    Open Liens

  • Total Open Liens: 2
  • Total Open Liens Amount: $691,780
  • First Open Lien Mortgage Lender: TRILION CAPITAL FUND LLC
  • First Open Lien Mortgage Recording Date: Apr 26, 2022
  • First Open Lien Mortgage Loan Amount: $602,500
  • First Open Lien Mortgage Term: 360
  • First Open Lien Mortgage Position: 1
  • First Open Lien Mortgage Loan Type: New Conventional
  • Second Open Lien Mortgage Lender: ALEXANDER CORE MANAGEMENT LLC
  • Second Open Lien Mortgage Recording Date: Apr 26, 2022
  • Second Open Lien Mortgage Loan Amount: $89,280
  • Second Open Lien Mortgage Term: 360
  • Second Open Lien Mortgage Position: 2

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $561,000
  • Assessed Land Value: $561,000

    Sales

  • Current Sale Contract Date: Apr 11, 2022
  • Current Sale Recording Date: Apr 26, 2022
  • Current Sale Transaction ID: 11886023714
  • Current Sale Price: $550,000
  • Current Sale Document Type: Grant Deed
  • Current Sale Input Document Number: 194367
  • Previous Sale Recording Date: Sep 22, 2021
  • Previous Sale Contract Date: Sep 16, 2021
  • Previous Sale Amount: $575,000
  • Previous Sale Document Type: Grant Deed

    Last Sale Mortgage

  • First Mortgage Lender: TRILION CAPITAL FUND LLC
  • First Mortgage Transaction Date: Apr 26, 2022
  • First Mortgage Loan Amount: $602,500
  • First Mortgage Terms: 360
  • First Mortgage Loan Type: New Conventional
  • Second Mortgage Lender: ALEXANDER CORE MANAGEMENT LLC
  • Second Mortgage Transaction Date: Apr 26, 2022
  • Second Mortgage Loan Amount: $89,280

    Previous Mortgages

  • Previous Mortgage Lender: PACIFIC POINT REALTY FUND LLC
  • Previous Mortgage Transaction Date: Sep 22, 2021
  • Previous Mortgage Loan Amount: $470,000
  • Previous Mortgage Term: 360
  • Previous Mortgage Loan Type: Commercial

About Equestrian Downs



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Nearby Rentals

Currently no nearby rentals

Frequently Asked Questions

What neighborhood is 1321 North Palm Avenue located in?
The 1321 North Palm Avenue is a house located in the neighborhood of Equestrian Downs in Equestrian Downs, Hemet.
What is the average sales price for listings in 1321 North Palm Avenue?
The average sales price for units in 1321 North Palm Avenue is $424,000 , or $119/sqft. currently.

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