x
Address
5250 Golden Avenue Riverside, CA
Price
$ 1,850,000
Property Attributes
  • MLS#IV19140274
  • TypeIncome
  • CountyRIVERSIDE
  • CityRiverside
  • AreaRiverside
  • Zip92505
  • Style
  • Price$ 1,850,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Sqr Footage8271
  • Lot Size3.22 Acres
Listing Provided Courtesy Of:
ALBERT LE with LE INVESTMENT GROUP.
Property Description

Competitive Offering Actual CAP Rate of 4.98 % With a Pro Forma CAP Rate of 6.26 %, The ProForma CAP Rate is Achievable By Increasing Rents to Market. Competitive Offering GRM of 14.77 With a Pro Forma GRM of 11.09. Development Potential With 3+ Acres Of Buildable Land. The Property Was Tentative Tract Mapped for 15 Homes With The City of Riverside (See Attached Tract Map). Conservative 15-20 % Upside in Potential Rental Income Per Rental Survey. Rental Comparables Illustrate a 100 % Occupancy Area. Located in a Quiet Residential Neighborhood. Non-Rent Control Community & Area. Two Blocks From La Sierra University. The properties consist of two lots that are adjacent to one another. This ten unit apartment property is composed of 2 one bedroom / one bathroom units, 6 two bedroom / one bathroom units and 2 three bedroom / two bathroom units. Not only does this property possess an attractive unit mix but the property has been tentative tracts in recent years for a possible development of 15+ single family homes with the City of Riverside. This asset allows a potential investor the unique opportunity to cashflow, increase rents, while working towards future development options.

Price History
6/14/2019 Listed $1,850,000

General Features

Attached Structure Attached
Community Features Suburban
Directions 91 Fwy Exit Pierce St. go North
Listagentaor Inland Valleys
Listing Agent ALBERT LE - BRE#01468313
Listing Agent State License 01468313
MLS Area 252 - Riverside
Price Per Square Foot 223.67
Property Attached Y/N Yes
Source System CRMLS
Special Listing Conditions Standard
Total Units 10
Zoning R1

Interior Features

1st Bedroom Area 725
1st Bedroom Area Unit Type Square Feet
2nd Bedroom Area 850
2nd Bedroom Area Unit Type Square Feet
3rd Bedroom Area 1250
3rd Bedroom Area Unit Type Square Feet
Common Walls 1 Common Wall
Laundry Features Gas & Electric Dryer Hookup
Laundry Y/N Yes
Studio Area 650
Studio Area Unit Type Square Feet

Exterior Features

Building Area Total 8271.00
Garage Spaces 10.00
Lot Features 6-10 Units/Acre
Lot Size Acres 3.2200
Lot Size Area 140263.0000
Lot Size Source Assessor
Lot Size Square Feet 140263.00
Lot Size Units Square Feet
Number of Buildings 7
Number of Separate Electric Meters 6
Number of Separate Gas Meters 6
Number of Separate Water Meters 6
Pool Features None
Sewer Public Sewer
Total Parking 10.00
Water Source Public

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Master On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Zip Code Average in 92505

Price
AVG $1.65M
$1.85M
Visits
AVG 50
19
Year Built
AVG 1976
1951
Walkscore
AVG 47
28
Data Provided by Walkscore ® not using MLS data

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