1480 7th Street, Riverside, CA 92507
  • MLS#: OC24233882 ( Apartment )
  • Street Address: 1480 7th Street
  • Viewed: 2
  • Price: $5,150,000
  • Price sqft: $0
  • Waterfront: No
  • Year Built: 1971
  • Bldg sqft: 0
  • Days On Market: 4
  • Additional Information
  • County: RIVERSIDE
  • City: Riverside
  • Zipcode: 92507
  • Provided by: Mark Bridge, Broker
  • Contact: Mark Mark
  • California Regional MLS IDX
  • DMCA Notice
  • Description
    This Property is being sold as a 3 property, 138 Unit Total Portfolio. 88 Units at 3681 Cranford Ave, Riverside, 25 Units at 1480 7th St, Riverside, and 25 Units at 25678 Prospect Ave, Loma Linda. Normandy Apartments (25 units) located in the robust rental market of Riverside, California. Built in 1971 the property consist of approximately 22,000 of rentable square feet and is in good condition since the current ownership has made several recent significant renovations to the interiors & exteriors. The balanced unit mix consists of 3 Bedroom, 2 Bedroom, and 1 Bedroom units. The property is situated on approximately .82 acres of land that include tuck under parking, carports, open on site parking in addition to the street parking. The property is also separately metered for gas and electric with a community laundry rooms, and pool. Select units have been tastefully remodeled with new flooring, windows, cabinets, stove, microwave, countertops, sink, toilet, vanity, shower, AC, recessed lighting, and ceiling fans throughout. Most of the heavy lifting is complete and should appeal to an investor looking for a turnkey asset surrounded by tremendous job opportunity.
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Features
Building Area Total
  1. 22576.00
Commoninterest
  1. Community Apartment
Common Walls
  1. 1 Common Wall
Country
  1. US
Electric Expense
  1. 25527.00
Entry Location
  1. First
Fuel Expense
  1. 24911.00
Garage Spaces
  1. 0.00
Heating
  1. None
Insurance Expense
  1. 71485.00
Laundry Features
  1. Community
Levels
  1. Two
Lockboxtype
  1. None
Lot Features
  1. 21-25 Units/Acre
Netoperatingincome
  1. 1663867.00
Number Of Separate Electric Meters
  1. 26
Number Of Separate Gas Meters
  1. 26
Parcel Number
  1. 250190014
Parking Features
  1. Assigned
  2. Covered
Pool Features
  1. Private
  2. Fenced
  3. In Ground
Professionalmanagementexpense
  1. 89514.00
Property Type
  1. Apartment
Sewer
  1. Public Sewer
Sourcesystemid
  1. CRM
Sourcesystemkey
  1. 427263047:CRM
Tenant Pays
  1. Electricity
  2. Gas
Totalexpenses
  1. 1077800.00
Trash Expense
  1. 40767.00
Utilities
  1. Cable Available
  2. Electricity Connected
  3. Natural Gas Connected
  4. Sewer Connected
  5. Water Connected
Water Sewer Expense
  1. 40685.00
Water Source
  1. Public
Year Built
  1. 1971
Year Built Source
  1. Assessor
Zoning
  1. R3