DON'T EVER MISS A NEW LISTING AGAIN!

Register Now
Already registered? Login

FREE AUTOMATED EMAIL UPDATES
Beat out other Buyers to Off Market Properties & HOT New Listings

Sign in to take advantage of all this site has to offer. Save your favorite listings and searches – also receive email updates when listings you like come on the market for free!
*Contact Information is NOT Shared*

Bedrooms
Baths
Min Price
Max Price
Back to Saved Search
Listing 1 out of 500
Sold for $4,680,000 Sold

1190 Villa Street
Riverside, CA 92507

38 units | Multi Family Home
1.52 acres - MLS# TR19008955
Property Photo

Sold

Sold for $4,680,000 on Feb 14, 2019

Description

A Fantastic Investment Cash Flow property in Riverside, Highgrove Area. 1175 Villa St., 1190 Villa St., 411 Pacific Ave. and 412 Glen Ave., Riverside is an 38-Unit Apartment Complex, comprised of 8 structures. Very attractive unit mix with 10 unit – 2 Bedroom, 28 units – 1 Bedroom. This is an extremely rare investment offer. Great cash flow. Huge upside in Rent (Approx. 15% upside in rent. Stabilized CAP Rate is over 6.31%). Total Building size of 24,621 Rentable SF. and 66,211 SF. Lot Size. Large Courtyard. All units are individually metered for electricity and gas. 38 individual water heaters. Total 41 Assigned Parking Spaces (31 Carport & 10 Open Air parking spaces). Well maintained property. High rental demand area with very low vacancy rate. Conveniently located near the 215 Freeway. Rents are currently below market with significant upside in this Non-Rent Control area. All 4 Properties: 1175 Villa St., 1190 Villa St. and 411 Pacific Ave. and 412 Glen are available to be purchased separately.

Features

  • Property Type: Multi Family Home
  • Sub Type: Multi Family Home
  • Listing Status: Closed
  • Listing Price: $4,680,000
  • Zip Code: 92507
  • Year Built: 1950
  • Units: 38 units
  • Lot Size: 1.52 acres
  • Area: 252 - Riverside
  • Appliances: Gas Range, Gas Cooktop
  • Appliances YN: Yes
  • Average 1 Bed Area: 600
  • Average 2 Bed Area: 750
  • Average 2 Bed Area Units: Square Feet
  • Average 3 Bed Area Units: Square Feet
  • Average Studio Area Units: Square Feet
  • Building Area Total: 24621.00
  • Building Area Units: Square Feet
  • Cap Rate: 5.01
  • Co-Listing Agent License: 01440448
  • Co-Listing Office License: 01121690
  • Community Features: Sidewalks
  • Country: US
  • Directions: Iowa Avenue
  • Electric Expense: 1961.00
  • Flooring: Tile
  • Gardener Expense: 4800.00
  • Gross Income: 394200.00
  • Gross Multiplier: 11.88
  • Gross Scheduled Income: 394200.00
  • Heating: Wall Furnace
  • Heating YN: Yes
  • Insurance Expense: 10750.00
  • Laundry Features: See Remarks
  • Laundry YN: Yes
  • Listing Agent License: 01720786
  • Listing Office License: 01201689
  • Lot Features: Lot 10000-19999 Sqft
  • Lot Size Area: 66211.0000
  • Lot Size Source: Assessor
  • Lot Size Units: Square Feet
  • MLS: CRM
  • Maintenance Expense: 26126.00
  • Net Operating Income: 234297.00
  • New Taxes Expense: 47407.00
  • Number Of Buildings: 8
  • Number Of Separate Electric Meters: 41
  • Number Of Separate Gas Meters: 38
  • Number Of Separate Water Meters: 7
  • Operating Expense: 148077.00
  • Other Expense: 1195.00
  • Parking Features: Assigned
  • Parking YN: Yes
  • Roof: Composition
  • Security Features: Gated Community
  • Selling Agent: Robert Clark
  • Selling Agent License: 00388538
  • Selling Office: Coldwell Banker George Realty
  • Sewer: Conventional Septic
  • Total Expenses: 148077.00
  • Utilities: Electricity Available, Natural Gas Available, Phone Available
  • Water Sewer Expense: 22920.00
  • Water Source: Public
  • Year Built Source: Assessor
  • Sold Price: 4680000.00
  • Sold Date: 2019-02-14
Courtesy of Coldwell Banker George Realty, Kevin Lee



Choumas & Associates | 909-821-7133 | Email Us 
Candi Choumas CalBRE #01177993
Ashley Choumas CalBRE #01892987

2790 Cabot Drive #4-130 - Corona, CA 92883
Copyright © 2017 , All Rights Reserved

house realtor mls

Real Estate Websites by iHOUSEweb iconiHOUSEweb | Admin Menu