23020 Atlantic Circle

    Moreno Valley, CA 92553
    • $700,000
    • STATUS: Active
    • ON SITE: 247 days
    • ID#: IV18248058
    UPDATED: 37 min ago
    $700,000
    • 0
      BEDS
    • 0.39
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 3,866
      SQFT
    • $181
      $/SQFT
    Neighborhood:
    Type:
    Commercial
    Built:
    1989
    County:

    School Ratings & Info

    Description

    SPECTACULAR FREE-STANDING SINGLE-STORY, LEVEL-ENTRY OFFICE BUILDING IN A BUSY OFFICE/MEDICAL COMPLEX FRONTING ON FREDERICK STREET, WITH EASY CLIENT INGRESS AND EGRESS. BUILT IN 1989 BY THE PRESENT OWNER, IT HAS BEEN METICULOUSLY MAINTAINED AND IS IN VIRTUALLY MOVE-IN CONDITION. CURRENTLY HAS NINE SEPARATE OFFICES, EASILY CONVERTED TO TEN OR MORE, WITH A LARGE ENTRY AND WAITING AREA. TWO HVAC SYSTEMS FOR TWO SEPARATE COMFORT ZONES. 23 PARKING SPACES INCLUDING 10 COVERED CARPORT SPACES. MATURE SHADE TREES SURROUND THE BUILDING. AT 20% DOWN THIS PROPERTY WILL PRODUCE ABOUT 5% CASH-ON-CASH RETURN AT AN APPROX. 6.7 CAP RATE. THIS IS AN ATTRACTIVE INVESTMENT PROPERTY OR AN EXCELLENT OWNER-USER OFFICE BUILDING.

    Monthly Payment Calculator



    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-06-17T14:33:52.363. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
    www.themarellygroup.com/homes/88457266

    23020 Atlantic Circle Moreno Valley, CA 92553

    • Price: $700,000
    • Status: Active
    • Updated: 37 min ago
    • ID#: IV18248058
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.39
    Acres
    3,866
    SQFT
    $181
    $/SQFT
    1989
    Built
    Neighborhood:
    259 - Moreno Valley
    County:
    Riverside
    Area:
    259 - Moreno Valley
    Property Description
    SPECTACULAR FREE-STANDING SINGLE-STORY, LEVEL-ENTRY OFFICE BUILDING IN A BUSY OFFICE/MEDICAL COMPLEX FRONTING ON FREDERICK STREET, WITH EASY CLIENT INGRESS AND EGRESS. BUILT IN 1989 BY THE PRESENT OWNER, IT HAS BEEN METICULOUSLY MAINTAINED AND IS IN VIRTUALLY MOVE-IN CONDITION. CURRENTLY HAS NINE SEPARATE OFFICES, EASILY CONVERTED TO TEN OR MORE, WITH A LARGE ENTRY AND WAITING AREA. TWO HVAC SYSTEMS FOR TWO SEPARATE COMFORT ZONES. 23 PARKING SPACES INCLUDING 10 COVERED CARPORT SPACES. MATURE SHADE TREES SURROUND THE BUILDING. AT 20% DOWN THIS PROPERTY WILL PRODUCE ABOUT 5% CASH-ON-CASH RETURN AT AN APPROX. 6.7 CAP RATE. THIS IS AN ATTRACTIVE INVESTMENT PROPERTY OR AN EXCELLENT OWNER-USER OFFICE BUILDING.
    Exterior Features

    Carport Spaces 10.00 Construction Materials Brick VeneerFrame Entry Level 1 Lot Features Level With StreetLot 10000-19999 Sqft Lot Size Dimensions 124X130 Lot Size Source Assessor Lot Size Units Square Feet Parking Ratio 4.15 Parking Total 23.00

    Interior Features

    Condo Area Units Square Feet Cooling Central AirDualZonedElectric Cooling YN Yes Heating CentralForced AirNatural Gas Heating YN Yes Laundry Features None Office Class B

    Property Features

    Accounting Type Proforma Additional Parcels YN No Asset Class Office Builder Name Sykes Building Area Units Square Feet Building Status Existing Cap Rate 6.70 Country Us Current Use Comments Insurance Offices Effective Gross 57990 Expense Year 2019 Gross Scheduled Income 57990.00 Insurance Expense 2000.00 Investment Property YN Yes Land Lease YN No Land Use Office Laundry YN No Leasable Area Units Square Feet Lease Considered YN Yes Lot Dimensions Source Assessor Maintenance Expense 1200.00 Max Total Area Units Square Feet Min Total Area Units Square Feet Net Operating Income 50110.00 Number Of Units Leased 0 Occupancy Vacant Operating Expense 7880.00 Other Income1 11600.00 Professional Management Expense 1620.00 Property Sub Type Office Real Estate Tax Expense 8725.00 Reserves Expense 1000.00 Security Features Security LightsSecurity System Special Listing Conditions Standard Tax Annual Amount 8725.00 Tax Rate 1.15 Tax Year 201819 Total Expenses 3820.00 Utilities Cable AvailableElectricity ConnectedNatural Gas ConnectedPhone ConnectedSewer ConnectedUnderground UtilitiesWater Connected Vacancy Allowance 4060 Vacancy Allowance Rate 7.00 Water Source Public Year Built Source Builder

    Listing provided courtesy of Ted Boecker of Re/Max Results


    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-06-17T14:33:52.363. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
     
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