NOT LISTED FOR SALE

1421 Seventh St Riverside, CA 92507

University Neighborhood
7 Beds
6 Baths
16,828 Sq Ft
0.38 Acres

Last Sold January 29, 2020

Last sale price $2,600,000 $155 Per Sq Ft

138 Days on Market

Highlights

  • 0.38 Acre Lot
  • Laundry Room
  • Landscaped
  • Community Pool

About This Home

As of January 2020

University Court is a 17-unit multifamily investment property located at 1415 - 1421 7th Street, Riverside, CA. Situated on a 0.38-acre lot, University Court consists of one-, two-, and three-bedroom units and offers amenities including gated access as well as a gated swimming pool, on-site laundry, and carport and garage parking.

Last Agent to Sell the Property

Tyler Leeson

Marcus & Millichap RE Invest License #01451551 Listed on: 09/12/2019

Co-Listed By

Alex Garcia

MARCUS & MILLICHAP License #01072982

Last Buyer's Agent

Tyler Leeson

Marcus & Millichap RE Invest License #01451551 Listed on: 09/12/2019

Property Details

Home Type

  • Apartment

Year Built

  • Built in 1964

Lot Details

  • 0.38 Acre Lot
  • No Common Walls
  • Landscaped
  • 250190018

Parking

  • 14 Open Parking Spaces
  • 2 Car Garage
  • 2 Carport Spaces

Home Design

  • 16,828 Sq Ft Home

Bedrooms and Bathrooms

  • 7 Bedrooms
  • 6 Bathrooms

Additional Features

  • Laundry Room
  • Exterior Lighting

Listing and Financial Details

  • Tax Lot 8
  • Tax Tract Number 2223
  • Assessor Parcel Number 250190017

Community Details

Overview

  • 2 Buildings
  • 17 Units

Amenities

  • Laundry Facilities

Recreation

  • Community Pool

Building Details

  • 17 Leased Units
  • 1 Separate Water Meter
  • Electric Expense $3,959
  • Fuel Expense $3,959
  • Insurance Expense $4,250
  • Maintenance Expense $20,400
  • Other Expense $19,810
  • Professional Management Expense $10,535
  • Trash Expense $3,960
  • Water Sewer Expense $3,960
  • New Taxes Expense $29,713
  • Operating Expense $117,121
  • Gross Income $234,120
  • Net Operating Income $105,701

Property Details

Home Type

Apartment

Year Built

Built in 1964

Lot Details

0

Parking

2

Listing Details

  • Professional Management Expense: 10535.00
  • Property Attached: No
  • Water Sewer Expenses: 3960.00
  • Zoning: R3
  • Property Type: Residential Income
  • Parcel Number: 250190017
  • Year Built: 1964
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: No Common Walls
  • Levels: Two
  • Price Per Square Foot: 154.50

Exterior Features

  • Pool Features: Community
  • Pool Private: No

Garage/Parking

  • Carport Spaces: 2.00
  • Garage Spaces: 2.00
  • Total Parking Spaces: 18.00
  • Uncovered Spaces: 14.00

Utilities

  • Laundry: Yes
  • Laundry Features: Community
  • Sewer: Public Sewer
  • Trash Expense: 3960.00
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Common Interest: Community Apartment
  • Community Features: Sidewalks, Street Lights

Lot Info

  • Additional Parcels: Yes
  • Additional Parcels Description: 250190018
  • Land Lease: No
  • Lot Features: Landscaped
  • Lot Size Sq Ft: 16552.80
  • Lot Size Acres: 0.3800

Multi Family

  • Electric Expense: 3959.00
  • Fuel Expense: 3959.00
  • Gross Income: 234120.00
  • Gross Operating Income: 222822.00
  • Gross Scheduled Income: 234120.00
  • Insurance Expense: 4250.00
  • Lot Size Area: 0.3800 Acres
  • Maintenance Expense: 20400.00
  • Net Operating Income: 105701.00
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 17
  • Number Of Units Total: 17
  • Operating Expense: 117121.00
  • Other Expense: 19810.00
  • Rent Control: No
  • Total Actual Rent: 18830.00
  • Total Expenses: 117121.00
  • Vacancy Allowance Rate: 5.00

Tax Info

  • New Taxes Expense: 29713.00
  • Tax Census Tract: 422.09
  • Tax Lot: 8
  • Tax Tract Number: 2223

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 List to Sale Price per Sq Ft
01/29/2020 01/29/20 Sold $2,600,000 0.0% $155 / Sq Ft
09/23/2019 09/23/19 Off Market $2,600,000 -- --
09/12/2019 09/12/19 For Sale $2,600,000 -- $155 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Tyler Leeson

    Seller's Agent in 2020

    Tyler Leeson

    Marcus & Millichap RE Invest

    (949) 419-3200

    154 Total Sales

    Tyler Leeson
    Section Image

  • A

    Seller Co-Listing Agent in 2020

    Alex Garcia

    MARCUS & MILLICHAP

    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: OC19218684

California Regional Multiple Listing Service (CRMLS)
California Riverside County Riverside 92507 University

1421 Seventh St, Riverside, CA

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California Regional Multiple Listing Service (CRMLS) The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.

Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information

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