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1789 7th Street

Riverside, CA 92507
  • $6,500,000
  • STATUS: Active Under Contract
  • ON SITE: 64 Days
  • ID#: CV24032554
Under Contract
$6,500,000
  • 0
    BEDS
  • 0.71
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1966
County:

School Ratings & Info

Listing Agent(s): Eric Chen of CB RICHARD ELLIS (909-418-2000)


Description

We are pleased to present the opportunity to acquire Sandra's Apartments located at 1789 7th Street in the city of Riverside. The property building size totals 19,800 SF and is situated on a well-maintained 30,928 square feet lot. Sandra's Apartments are conveniently located minutes away from Downtown Riverside and its cross streets are Chicago Avenue and Ottawa Avenue. The property offers convenient access to the University of California, Riverside, the Downtown Metrolink rail station, pharmacies, markets, banks, restaurants, and other popular retailers all within a short distance. Sandra's Apartments feature mature landscaping with a gated pool and courtyard. The property also has secured gated entry, on-site laundry facility, tuck-under parking, surface vehicle parking, and ample street parking. The units feature fully equipped kitchens with appliances, wood-looking vinyl plank and tile flooring, ceiling fans, vertical blinds, and wall air conditioning and heating. The property offers convenient access to the 91, 15, 215 and 60 freeways connecting to San Bernardino, Orange, and Los Angeles Counties. Neighboring cities include Moreno Valley, Corona and San Bernardino. Significant local landmarks within a 20-mile radius include: Castle Amusement Park, Riverside Art Museum, Fox Performing Arts Center, the Galleria at Tyler, Fairmount Park, Mount Rubidoux Park, Riverside Municipal Auditorium, UC Riverside Botanic Gardens and the historic Mission Inn Hotel & Spa. The Sandra's Apartments is a prime Riverside income-producing property and a great long-term investment. The property offers stability for any type of investor whether it may be a first-time purchaser, seasoned investor, or those seeking a 1031 exchange opportunity.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2024-04-19T18:28:35.703. 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 or Doherty Real Estate Group | eXp Realty of California, Inc.. Licensed in the State of California, USA.
www.bestorangecountyhomesearch.com/homes/147656796
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1789 7th Street Riverside, CA 92507

  • Price: $6,500,000
  • Status: Active Under Contract
  • On Site: 64 Days
  • ID#: CV24032554
0
Beds
0
Baths
0
½ Baths
0.71
Acres
1966
Built
Neighborhood:
252 - Riverside
County:
Riverside
Area:
252 - Riverside
Property Description
We are pleased to present the opportunity to acquire Sandra's Apartments located at 1789 7th Street in the city of Riverside. The property building size totals 19,800 SF and is situated on a well-maintained 30,928 square feet lot. Sandra's Apartments are conveniently located minutes away from Downtown Riverside and its cross streets are Chicago Avenue and Ottawa Avenue. The property offers convenient access to the University of California, Riverside, the Downtown Metrolink rail station, pharmacies, markets, banks, restaurants, and other popular retailers all within a short distance. Sandra's Apartments feature mature landscaping with a gated pool and courtyard. The property also has secured gated entry, on-site laundry facility, tuck-under parking, surface vehicle parking, and ample street parking. The units feature fully equipped kitchens with appliances, wood-looking vinyl plank and tile flooring, ceiling fans, vertical blinds, and wall air conditioning and heating. The property offers convenient access to the 91, 15, 215 and 60 freeways connecting to San Bernardino, Orange, and Los Angeles Counties. Neighboring cities include Moreno Valley, Corona and San Bernardino. Significant local landmarks within a 20-mile radius include: Castle Amusement Park, Riverside Art Museum, Fox Performing Arts Center, the Galleria at Tyler, Fairmount Park, Mount Rubidoux Park, Riverside Municipal Auditorium, UC Riverside Botanic Gardens and the historic Mission Inn Hotel & Spa. The Sandra's Apartments is a prime Riverside income-producing property and a great long-term investment. The property offers stability for any type of investor whether it may be a first-time purchaser, seasoned investor, or those seeking a 1031 exchange opportunity.
Exterior Features

Carport Spaces 20 Carport YN Yes Entry Level 1 Entry Location 1 Lot Features 26-30 Units/Acre Number Of Separate Electric Meters 27 Open Parking Spaces 5 Parking Total 27 Pool Features Community Pool Private YN No Property Attached YN Yes Spa Features None Spa YN No

Interior Features

Common Walls 2+ Common Walls Cooling Wall/Window Unit(s) Cooling YN Yes Heating Wall Furnace Heating YN Yes

Property Features

Additional Parcels YN No Cap Rate 4.08 Common Interest Community Apartment Community Features CurbsSidewalksPool Electric Expense 4827 Fuel Expense 8106 Garage YN Yes Gross Income 440100 Gross Scheduled Income 440100 Insurance Expense 9384 Land Lease YN No Laundry Features Common Area Levels Two Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash to New Loan Maintenance Expense 12675 Net Operating Income 265389 New Construction YN No New Taxes Expense 73084 Number Of Separate Gas Meters 27 Number Of Separate Water Meters 1 Number Of Units Leased 27 Operating Expense 157107 Other Expense 6750 Property Sub Type Apartment Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Total Actual Rent 436740 Trash Expense 8556 Vacancy Allowance 17406 Water Sewer Expense 4826 Water Source Public Zoning R3



Based on information from California Regional Multiple Listing Service, Inc. as of 2024-04-19T18:28:35.703. 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 or Doherty Real Estate Group | eXp Realty of California, Inc.. Licensed in the State of California, USA.
 
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Doherty Real Estate Group | eXp Realty of California, Inc.
26381 Crown Valley Pkwy
Mission Viejo CA, 92691
Listing Agent(s): Eric Chen of CB RICHARD ELLIS (909-418-2000)