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13487 Fremont Street
Yucaipa, CA 92399
$975,000
Conventional
Property
Bedroom
4
Bathroom
3
Property Type
Conventional
Square ft
1992
Property Description
A truly exceptional and singular opportunity presents itself for the acquisition of a revenue-generating Triplex situated on a vast 2.7-acre parcel in the coveted Upper Yucaipa region. This property comprises three distinct units: a single-family residence boasting two bedrooms and one bathroom, complemented by a duplex that incorporates two individual one-bedroom, one-bath units. Notably, one of these units has undergone recent renovations, while the other two have also received various upgrades. Additionally, the property is equipped with two detached garages and enjoys captivating mountain vistas. What further distinguishes this offering is the expansive lot size, spanning approximately 117,612 square feet, which presents an array of opportunities for potential subdivision, development, or the establishment of a boarding home. The property is governed by an RS10M zoning designation, currently permitting a range of uses including the construction of additional Single Dwelling Units, operation of a small residential care facility, establishment of a small family day care home, and cultivation of trees or nursery plants. Moreover, with the procurement of a conditional use permit, additional land use options encompass the establishment of a mobile home park, planned development, bed and breakfast lodge, among other possibilities. Notably, the property is flanked by streets on both its front and rear boundaries. Prospective purchasers are urged to engage in due diligence, consulting with municipal authorities to ascertain specific regulations and requirements. Furthermore, the property is currently occupied by tenants, and access should not be attempted without prior notice! DO NOT DISTURB TENANTS!
Property Information
Lot Size
117,612 sqft square ft
Property Type
MultiFamily
Year Built
1930
MLS Number
CV24005018
Location
Address
13487 Fremont Street
City
Yucaipa
State
CA
Zip Code
92399
County
SAN BERNARDINO (EAST INLAND EMPIRE)
Listing
Provider
RE/MAX Time, original listing
Name
RE/MAX Time
Phone
(909) 373-0880
Office Name
RE/MAX TIME REALTY
Office Phone
(626) 788-0609
Agent Name
Zoram Luna

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HUD Foreclosures

HUD foreclosures and VA Foreclosures are some of the best homes to buy when price is part of the equation. As with most Americans, price is always a concern. If not buying the same house for less, why not buy more house for the same dollar invested? When looking for a good deal it is hard to do better than the VA or HUD foreclosures market. The simple truth is that there are just more VA and HUD homes on the market, as they represent such a large number of mortgages that are generated each year. This translates into more foreclosures just by the magnitude of difference between all others comparing to the two largest. The two largest also being government owned and operated means that they have less time to wait to make money back on the home. The FHA is especially known for selling HUD homes for less than the average sales price in a given area. FHA foreclosures represent a fraction of HUD but they are still a significant number of homes and both should be considered. VA (Veterans Administration) and HUD (Housing and Urban Development) have different and unique opportunities for the buyer. Both are often forgiven for the local taxes normally associated with the purchase of a home (this is on a county by county basis). Be sure to ask the local title company or escrow company to look into it for you before closing as this is often missed due to their are not used to dealing with the 2 to 3 percent of the market that VA and HUD foreclosures represent.

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Foreclosure Listings Increasing

As the market settled after the mortgage meltdown foreclosure listings also settled and fewer homes were on the market with a placard reading “Bank Foreclosure” in big red lettering. This was a good thing for the entire real estate market. Having an abundance of foreclosures brings the entire market down and it makes it harder for home owners, who would like to move, to get the appropriate price for their home as a similar home down the same street was sold for substantially less and the appraiser is using the foreclosure as a comparable sale. This is just one of the problems when there are too many foreclosure listings in any area. Another issue is the television set that sits in everyone’s living room harping about the price of homes based on the number of foreclosures and this constant barrage of negative information makes most people sit on the sidelines waiting for the market to either implode completely or to correct itself. Meanwhile while they wait, others are buying foreclosure listings and making great investments. Whatever the reason, a market can only handle so many foreclosure listings at any given time. The more foreclosures, the lower the market gets and this is a lesson the banks that were foreclosing and selling off realized too late. The market and their investments would have been better off if there had not been a rush to divest themselves of the toxic assets made more toxic by their own actions.