Silva Babaian  Realtor, Real Estate Agent, Granada Hills, CA

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    1480 7th Street, Riverside, CA 92507
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    1480 7th Street
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    • MLS#: OC24233882 ( Apartment )
    • Street Address: 1480 7th Street
    • Viewed: 42
    • Price: $5,150,000
    • Price sqft: $0
    • Waterfront: No
    • Year Built: 1971
    • Bldg sqft: 0
    • Days On Market: 138
    • 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
    Days On Market
    1. 49
    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
    Views
    1. 42
    Water Sewer Expense
    1. 40685.00
    Water Source
    1. Public
    Year Built
    1. 1971
    Year Built Source
    1. Assessor
    Zoning
    1. R3
    Headshot for Associate Silva Babaian
    1. Silva Babaian / Realtor
    2. Coldwell Banker Exclusive
    3. CalBRE Lic # 01365805
    4. Mobile: 818.414.6744
    5. Fax: 818.338.5836