$140,000
●
House -
Off Market
615 Solano Drive
Hemet, CA 92545
2 Beds
1 Bath
820 Ft²
$226,156
RealtyHop Estimate
50.97%
Since Mar 1, 2019
National-US
Primary Model
About This Property
Fantastic Bargain for a fully refurbushed Valle Hermosa "Allegro"
plan home featuring 2 bedrooms, 1 bath and over 800 square feet of
living space. Renovations include, upgraded kitchen with stainless
steel appliances including matching dishwasher. New kitchen and
bathroom cabinets w/ granite counter tops. Premium Waterproof High
Density Oak flooring. Acoustic ceiling removed and re-textured for
a modern look. Large back yard with new "rocks-cape". Completely
Turnkey and ready for immediate occupancy. Valle Hermosa is a 55+
community and located within minutes of the Hemet Valley Mall,
restaurants and transportation. Low tax and HOA ($65 per year).
Unit Size
820 Ft²
Days on Market
128 days
Land Size
0.09 acres
Price per sqft
$183
Property Type
House
Property Taxes
-
HOA Dues
$5
Year Built
1981
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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: 5 months ago (CRMLS #PW18238431)
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Dec 30, 2024 | Sold | ||
| Sold | |||
| Dec 26, 2024 | In contract | - | |
| In contract | |||
| Dec 9, 2024 | Relisted | $265,000 | |
| Relisted | |||
| Nov 19, 2024 | Listed by Alta Realty Group | $265,000 | |
| Listed by Alta Realty Group | |||
| | |||
|
Fantastic Investor Opportunity! Neat, clean and nicely upgraded 2 bedroom 1 bath home in Valle Hermosa, a 55+ community. Current tenant pays $1375/month and wants to stay. Next increase due 10/2025. This stunning single story home is over 800 square feet and has been completely updated! You'll enter to a roomy living room that is open to a dining area and offers a sliding door out to the covered patio and large, low maintenance back yard. The kitchen has newer cabinets, contemporary lighting, granite counter tops and stainless steel appliances. The remodeled bath also has contemporary lighting, newer mirror, newer cabinet, and granite counter top. The living area has beautiful waterproof plank flooring. There are two bedrooms with newer carpet and one of them has slider door access to the back patio. The laundry is conveniently located in the attached garage. Energy efficient upgrades include dual paned windows, ceiling fans, and newer central air and heat. Valle Hermosa is a 55+ community and located within minutes of the Hemet Valley Mall, restaurants, medical and transportation. Priced to sell fast, plan your visit today!
| |||
| Feb 6, 2019 | Sold | ||
| Sold | |||
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Property Highlights
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Building Info
Data used for valuation calculations is provided by RealtyHop, and other third party sources
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About Hemet
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Listed by: Orlando Cintron, J.D. Real Estate
Last Updated: 5 months ago
Data Source: CRMLS, MLS# PW18238431
Last Updated: 5 months ago
Data Source: CRMLS, MLS# PW18238431
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