$28,000,000
UNDER CONTRACT

Estimated payment $180,268/month

Total Views 7,357
6 Beds
5 Baths
117,840 Sq Ft
$238 Price per Sq Ft

Highlights

  • 6.79 Acre Lot
  • Laundry Room
  • Wall Furnace
  • Cooling System Mounted To A Wall/Window

About This Home

We are pleased to announce the offering of Springbrook Park Apartments, a 120-unit multifamily property exceptionally well-located in Riverside, California.
Situated at 1100 N Orange Street, the property benefits from a prime position within the thriving Inland Empire market. This strategic location provides investors with direct access to a robust working-class demographic and significant potential for rental upside. Nestled between Nash Street and Columbia Avenue, Springbrook Park Apartments offers residents excellent connectivity to a wide array of amenities, transportation options, and is in close proximity to the University of California, Riverside. This offering represents a compelling opportunity to acquire a well-positioned asset with substantial growth potential in a dynamic Inland Empire submarket.
Constructed in 1971 and thoughtfully situated on a generous 6.79-acre parcel, Springbrook Park Apartments is a well-maintained, two-story community spanning 117,840 square feet. Recent capital improvements, including light interior renovations on turned-over units, position the property for significant value add through continued renovations. The community offers a desirable mix of one-bedroom, two-bedroom, and three-bedroom residences designed to meet various tenant needs.
Residents enjoy a host of on-site amenities that include a central laundry facility, fitness center, playground, and a basketball court. The property also features controlled access for enhanced security, and mature, lush landscaping creating a pleasant atmosphere. Practical amenities such as ample surface parking and dedicated on-site maintenance and property management contribute to a well-managed community.
Individual units have been significantly upgraded and feature a variety of appealing interior amenities. These include the convenience of central air conditioning and heating, and fully equipped kitchens. Residents will also find a blend of vinyl wood flooring and carpeting in select areas, vertical blinds, ceiling fans, and mirrored closet doors. The property’s prime location offers residents easy walking access to nearby shopping, dining, and entertainment options, while also providing excellent accessibility to major highways.
The property offers convenient access to major transportation arteries, including the 91, 215, 60, and 10 freeways, facilitating easy travel throughout the region and connecting to San Bernardino, Orange, and Los Angeles Counties.

Listing Agent

Eric Chen

CB RICHARD ELLIS Brokerage Phone: 626-757-5717 Listed on: 05/23/2025

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1971

Lot Details

  • 6.79 Acre Lot
  • Two or More Common Walls

Home Design

  • Apartment

Interior Spaces

  • 117,840 Sq Ft Home
  • 2-Story Property
  • Laundry Room

Bedrooms and Bathrooms

  • 6 Bedrooms
  • 5 Bathrooms

Parking

  • 200 Open Parking Spaces
  • 200 Parking Spaces

Utilities

  • Cooling System Mounted To A Wall/Window
  • Wall Furnace

Listing and Financial Details

  • Tax Lot 1
  • Tax Tract Number 42300
  • Assessor Parcel Number 206080014
  • $3,291 per year additional tax assessments

Community Details

Overview

  • 15 Buildings
  • 120 Units

Amenities

  • Laundry Facilities

Building Details

  • 120 Leased Units
  • Rent Control
  • 120 Separate Electric Meters
  • 120 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $103,737
  • Fuel Expense $35,114
  • Insurance Expense $112,639
  • Maintenance Expense $42,737
  • Other Expense $24,000
  • Pest Control $1,200
  • Professional Management Expense $92,075
  • Supplies Expense $42,839
  • Trash Expense $43,450
  • Water Sewer Expense $106,967
  • New Taxes Expense $309,695
  • Operating Expense $1,033,883
  • Gross Income $2,377,160
  • Net Operating Income $1,271,963

Property Details

Home Type

Multi-Family

Year Built

Built in 1971

Lot Details

0

Listing Details

  • CapRate: 4.54
  • Other Phone Description: Blake Torgerson
  • Other Phone Number: 909-418-2074
  • Price Per Unit: 233333
  • Professional Management Expense: 92075.00
  • Property Attached: Yes
  • Supplies Expense: 42839.00
  • Water Sewer Expenses: 106967.00
  • Zoning: R1
  • Property Sub Type: Apartment
  • Property Type: Residential Income
  • Parcel Number: 206080014
  • Year Built: 1971
  • Special Features: UnderContract

Interior Features

  • Stories: 2
  • Entry Location: 1
  • Common Walls: 2+ Common Walls
  • Entry Level: 1
  • Levels: Two
  • Price Per Square Foot: 237.61

Exterior Features

  • Pool Private: No

Garage/Parking

  • Total Parking Spaces: 200.00
  • Uncovered Spaces: 200.00

Utilities

  • Heating: Yes
  • Laundry: Yes
  • Heating Type: Wall Furnace
  • Laundry Features: Common Area
  • Pest Control Expense: 1200.00
  • Sewer: Public Sewer
  • Trash Expense: 43450.00
  • Water Source: Public
  • Cooling: Wall/Window Unit(s)
  • Cooling: Yes

Condo/Co-op/Association

  • Senior Community: No
  • Common Interest: Community Apartment
  • Community Features: Curbs, Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Lot Over 40000 Sqft
  • Lot Size Sq Ft: 295772.00
  • Lot Size Acres: 6.7900

Multi Family

  • Electric Expense: 103737.00
  • Fuel Expense: 35114.00
  • Gross Income: 2377160.00
  • Gross Multiplier: 11.78
  • Gross Operating Income: 2305845.00
  • Gross Scheduled Income: 2377160.00
  • Insurance Expense: 112639.00
  • Laundry Income: 30091.00
  • Lot Size Area: 295772.0000 Square Feet
  • Maintenance Expense: 42737.00
  • Net Operating Income: 1271963.00
  • Number Of Separate Electric Meters: 120
  • Number Of Separate Gas Meters: 120
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 120
  • Number Of Units Total: 120
  • Operating Expense: 1033883.00
  • Other Expense: 24000.00
  • Other Expense Description: Reserves
  • Other Income1: 17808.00
  • Other Income2: 111013.00
  • Rent Control: Yes
  • Total Actual Rent: 2218248.00
  • Total Expenses: 1033883.00
  • Vacancy Allowance: 71315

Tax Info

  • New Taxes Expense: 309695.00
  • Tax Census Tract: 423.00
  • Tax Lot: 1
  • Tax Tract Number: 042300
  • TaxOtherAnnualAssessmentAmount: 3291.00

Map

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price Change Sq Ft Price
05/23/2025 05/23/25 For Sale $28,000,000 -- $238 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: CV25115941

California Regional Multiple Listing Service (CRMLS)

APN: 206-080-014