1480 7th St Riverside, CA 92507
University NeighborhoodEstimated payment $34,220/month
Highlights
- 0.82 Acre Lot
- Community Pool
- Bike Trail
- No HOA
- Foothills
- No Heating
About This Home
$400,000 Price Reduction. Built in 1977, The Normandy Apartments consist of approximately
22,798 of rentable square feet and is in good condition
since the current ownership has made several recent
signi?cant 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 0.82 acres of land that
include tuck under parking, 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 & sparkling pool.
Select units have been tastefully remodeled with
new ?ooring, 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 and 10% realistic
rental upside.
Listing Agent
Kidder Mathews of California, Inc Brokerage Phone: 949-557-5000 License #01227852 Listed on: 01/13/2026
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1971
Lot Details
- 35,719 Sq Ft Lot
- Two or More Common Walls
- Density is 21-25 Units/Acre
Parking
- 25 Open Parking Spaces
- 25 Car Garage
- Parking Available
- Assigned Parking
Home Design
- Apartment
- Entry on the 1st floor
Interior Spaces
- 22,576 Sq Ft Home
- 2-Story Property
Bedrooms and Bathrooms
- 6 Bedrooms
- 3 Bathrooms
Laundry
- Laundry in unit
- Leased Washer and Dryer
Utilities
- No Heating
Listing and Financial Details
- Tax Lot 59
- Assessor Parcel Number 250190014
- $879 per year additional tax assessments
Community Details
Overview
- No Home Owners Association
- 25 Units
- Foothills
Amenities
- Laundry Facilities
Recreation
- Community Pool
- Bike Trail
Building Details
- 25 Leased Units
- Rent Control
- 25 Separate Electric Meters
- 25 Separate Gas Meters
- 1 Separate Water Meter
- Electric Expense $3,649
- Gardener Expense $6,149
- Insurance Expense $13,208
- Maintenance Expense $25,000
- Other Expense $20,841
- Pest Control $1,259
- Pool Expense $17,001
- Professional Management Expense $54,350
- Trash Expense $7,372
- Water Sewer Expense $9,783
- New Taxes Expense $60,989
- Operating Expense $208,296
- Gross Income $1,488
- Net Operating Income $338,179
Map
Home Values in the Area
Average Home Value in this Area
Tax History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $44,823 | $3,960,087 | $725,085 | $3,235,002 |
| 2023 | $43,365 | $3,806,314 | $696,930 | $3,109,384 |
| 2022 | $42,389 | $3,731,681 | $683,265 | $3,048,416 |
| 2021 | $44,110 | $3,875,000 | $715,000 | $3,160,000 |
| 2020 | $41,383 | $3,621,000 | $663,000 | $2,958,000 |
| 2019 | $0 | $2,159,369 | $291,211 | $1,868,158 |
| 2018 | $24,571 | $2,117,029 | $285,501 | $1,831,528 |
| 2017 | $24,143 | $2,075,519 | $279,903 | $1,795,616 |
| 2016 | $22,621 | $2,034,823 | $274,415 | $1,760,408 |
| 2015 | $22,302 | $2,004,260 | $270,294 | $1,733,966 |
| 2014 | $20,944 | $1,858,399 | $251,135 | $1,607,264 |
Property History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 03/12/2026 03/12/26 | Price Changed | $5,595,000 | -6.7% | $248 / Sq Ft |
| 01/13/2026 01/13/26 | For Sale | $5,995,000 | -- | $266 / Sq Ft |
Purchase History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Interfamily Deed Transfer | -- | Fidelity National Title | |
| Grant Deed | $3,550,000 | Fidelity National Title Co | |
| Grant Deed | $738,900 | First American Title Co | |
| Grant Deed | -- | First American Title Company | |
| Trustee Deed | $1,000,000 | Security Union Title Ins Co | |
| Grant Deed | -- | United Title Company | |
| Grant Deed | -- | -- | |
| Grant Deed | -- | -- | |
| Grant Deed | -- | North American Title Co | |
| Trustee Deed | $475,487 | First American Title Ins Co | |
| Corporate Deed | $700,000 | First American Title Ins Co | |
| Grant Deed | $512,500 | First American Title Ins Co | |
| Trustee Deed | $445,000 | American Title Co |
Mortgage History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $2,562,000 | Commercial | |
| Previous Owner | $2,485,000 | Construction | |
| Previous Owner | $5,360,000 | Future Advance Clause Open End Mortgage | |
| Previous Owner | $1,490,625 | Commercial | |
| Previous Owner | $1,012,500 | Commercial | |
| Previous Owner | $200,000 | Commercial | |
| Previous Owner | $80,000 | Commercial | |
| Previous Owner | $400,000 | Commercial |
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: OC26008212
APN: 250-190-014
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
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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