22790 Allies Place, Moreno Valley, California 92553, Moreno Valley, 92553 - bed, bath
ACTIVE$1,225,000
22790 Allies Place, Moreno Valley, California 92553
0Bed
0Bath
4,344Sqft
7,841Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Strong Income Potential: This quadruplex is a fully occupied income-generating asset, with all four units currently rented out, providing immediate and stable cash flow for an investor.
Top Cons:
Property Age: Built in 1966, the property's underlying infrastructure is older, which may lead to higher maintenance costs or require significant capital expenditures in the future despite recent cosmetic upgrades.
Compared to the nearby listings
Price:$1.23M vs avg $952.0K (+$273,000)90%
Size:4,344 sqft vs avg 2,756 sqft80%
Price/sqft:$282 vs avg $31640%
More Insights
Built in 1966 (59 years old).
Condition: The property, built in 1966, has undergone recent cosmetic renovations in the kitchens and bathrooms, featuring modern white shaker cabinets, quartz countertops, and updated fixtures, as well as fresh paint and tile flooring. These updates make the units move-in ready and aesthetically pleasing. However, the underlying infrastructure is over 50 years old, and major systems, such as the visible wall-mounted AC units, show signs of being outdated. While maintained and functional, the property's age and lack of explicit major system replacements prevent it from achieving a 'Good' rating, as major systems are unlikely to be within their expected lifespan.
Year Built
1966
Close
-
List price
$1.23M
Original List price
$1.35M
Price/Sqft
$282
HOA
-
Days on market
-
Sold On
-
MLS number
PW25193278
Home ConditionFair
Features
Deck
Patio
View-
About this home
4 plex with a 3 bedroom and 2 bath unit and 3 2 bedroom units with garage. Units have been upgraded in the last few years with renovated Kitchen units, quartz counter tops, paint, bath room upgrades and more. All units are currently rented out.. Extra income from coin operated laundry washer and dryer. Each unit has it's own enclosed garage. This is located in the area with many other four plexes and rentals. It is located near shopping centers and public transportation.
Condition Rating
Fair
The property, built in 1966, has undergone recent cosmetic renovations in the kitchens and bathrooms, featuring modern white shaker cabinets, quartz countertops, and updated fixtures, as well as fresh paint and tile flooring. These updates make the units move-in ready and aesthetically pleasing. However, the underlying infrastructure is over 50 years old, and major systems, such as the visible wall-mounted AC units, show signs of being outdated. While maintained and functional, the property's age and lack of explicit major system replacements prevent it from achieving a 'Good' rating, as major systems are unlikely to be within their expected lifespan.
Pros & Cons
Pros
Strong Income Potential: This quadruplex is a fully occupied income-generating asset, with all four units currently rented out, providing immediate and stable cash flow for an investor.
Recent Unit Upgrades: Units have undergone significant renovations in recent years, including updated kitchens with quartz countertops, refreshed paint, and bathroom improvements, enhancing tenant appeal and property value.
Additional Revenue Stream: The property benefits from extra income generated by coin-operated laundry facilities, adding to the overall profitability.
Individual Garages: Each unit features its own enclosed garage, a highly desirable amenity that attracts and retains tenants, contributing to lower vacancy rates.
Convenient Location: Situated in an established rental area near shopping centers and public transportation, ensuring high tenant demand and accessibility to essential services.
Cons
Property Age: Built in 1966, the property's underlying infrastructure is older, which may lead to higher maintenance costs or require significant capital expenditures in the future despite recent cosmetic upgrades.
Significant Price Reductions: The property has experienced multiple price reductions from its original listing, potentially indicating overpricing or challenges in attracting buyers at previous price points.
Vague Upgrade Scope: While upgrades are mentioned, the description 'in the last few years' is somewhat vague, and the extent or quality of all renovations across all units is not fully detailed, which might necessitate further inspection.