Listed by: DARNELL SCHELLS, DARNELL SCHELLS
$675,000
●
House -
Off Market
16100 New Light Way
Moreno Valley, CA 92551
3 Beds
2 Baths
1,802 Ft²
$3,266
Est. Monthly
About This Property
This is a standard sale located in the beautiful City of Moreno
Valley. Take this excellent opportunity to purchase an RA-zoned
property sitting on over 1 acre of land. The building has three
bedrooms and two bathrooms, is currently updated, and functions as
a church. The lot has a designated area ready for development and
over 30 parking spots. The property features 1,815 sf, including a
main seating service area, private offices, a storage room. The
property is near new development and elementary, middle, and high
school locations. The exterior feature of the property includes a
new roof, upgraded stucco, and paint. The parking area is paved,
has a block wall surrounding the property, and is enclosed with its
private entry gate. This is a perfect location for an owner to live
and add additional homes on the lot, multifamily units, ADUs,
religious facilities, general office, community center, or
childcare upon approved permits. Make this your new development
today.
Unit Size
1,802 Ft²
Days on Market
53 days
Land Size
1.16 acres
Price per sqft
$369
Property Type
House
Property Taxes
-
HOA Dues
-
Year Built
1984
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Cap Rate
100% Occupancy
N/A (extreme outlier) What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Last updated: 3 years ago (CRMLS #IV24128760)
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Aug 16, 2024 | Sold | ||
| Sold | |||
| Jun 24, 2024 | Listed by DARNELL SCHELLS | $665,000 | |
| Listed by DARNELL SCHELLS | |||
Property Highlights
Air Conditioning
Fireplace
Building Info
Data used for valuation calculations is provided by RealtyHop, and other third party sources
Comparables
Unit
Status
Status
Type
Beds
Baths
ft²
Price/ft²
Price/ft²
Asking Price
Listed On
Listed On
Closing Price
Sold On
Sold On
HOA + Taxes
About Moreno Valley
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Listed by: DARNELL SCHELLS, DARNELL SCHELLS
Last Updated: 3 years ago
Data Source: CRMLS, MLS# IV24128760
Last Updated: 3 years ago
Data Source: CRMLS, MLS# IV24128760
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