5 Cherry Hills Lane

5 Cherry Hills Lane has been categorized by the local assessors in Newport Beach, CA as a residential type of property. The building on the property was first built in 1994 and is 30 years old. The home has a total of 8 rooms. 4 of these rooms are legally considered as bedrooms. Residents will have access to 3 full bathrooms. There are 4 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, 5 Cherry Hills Lane has 3,573 sqft of living area. The living area typically only takes into consideration the heated or air conditioned part of the building. The linear feet between the front and back of the lot is 1,210 ft and across the front of the lot is 1,180 ft. The area measurement of the land has been determined as 12,626 square feet.

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 garage for those who require parking. The garage measured 660 sqft. According to our sources, there are a total of 3 available parking spaces. Love to swim? You'll be excited to find out that there is a both a pool and a spa on the property. Moving on to the building itself. The condition of the building has been evaluated as excellent. From what we've gathered, the quality of these control joints have been graded with a letter grade of A by the local assessor. 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. There is a single fireplace in the home. Perfect for those wintery nights. 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, 5 Cherry Hills Lane sold most recently in Sep 1, 2020 for a total of $3,220,000. If you work out the math, that's approximately a cost of $901.20 per sqft. Before that, the property was also sold for $1,795,000 in Sep 28, 2002. There could be many factors that caused the property to sell at a higher price and increase in value. Tax-wise, the current owner is expected to pay close to $35,426 in taxes each year. 5 Cherry Hills Lane was most recently assessed in 2023. During this assessment, the property's total value was estimated to be about $3,350,088. If we break it down further, the land itself was valued at $2,779,879. Improvements to the property, however, were assessed at a total of $570,209. The property's total assessed value has been marked as more than the total market value which is pretty atypical. As you can see, there are a lot of things to consider when purchasing a home. For example, have you evaluated your own Debt-To-Income ratio (DTI) and understood how this may impact the number of loan options you have access to? Don't worry, we'll cover the basics such as what a DTI ratio is, how to calculate yours, what most lenders consider to be an ideal ratio, and also provide our tips on how you can improve your score if it is on the higher side.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.