Seller's Agent in 2024
Eric Chen
CB RICHARD ELLIS
(909) 418-2030
2 in this area
65 Total Sales
1789 7th St Riverside, CA 92507
Eastside Neighborhood
3
Beds
5
Baths
19,800
Sq Ft
30,928
Sq Ft
Highlights
- 0.71 Acre Lot
- Cooling System Mounted To A Wall/Window
- Wall Furnace
- Community Pool
- Laundry Room
About This Home
As of May 2024We are pleased to present the opportunity to acquire Sandra's Apartments located at 1789 7th Street in the city of Riverside. The property building size totals ± 19,800 SF and is situated on a well-maintained ± 30,928 square feet lot. Sandra's Apartments are conveniently located minutes away from Downtown Riverside and its cross streets are Chicago Avenue and Ottawa Avenue. The property offers convenient access to the University of California, Riverside, the Downtown Metrolink rail station, pharmacies, markets, banks, restaurants, and other popular retailers all within a short distance.
Sandra's Apartments feature mature landscaping with a gated pool and courtyard. The property also has secured gated entry, on-site laundry facility, tuck-under parking, surface vehicle parking, and ample street parking. The units feature fully equipped kitchens with appliances, wood-looking vinyl plank and tile flooring, ceiling fans, vertical blinds, and wall air conditioning and heating.
The property offers convenient access to the 91, 15, 215 and 60 freeways connecting to San Bernardino, Orange, and Los Angeles Counties. Neighboring cities include Moreno Valley, Corona and San Bernardino. Significant local landmarks within a 20-mile radius include: Castle Amusement Park, Riverside Art Museum, Fox Performing Arts Center, the Galleria at Tyler, Fairmount Park, Mount Rubidoux Park, Riverside Municipal Auditorium, UC Riverside Botanic Gardens and the historic Mission Inn Hotel & Spa. The Sandra's Apartments is a prime Riverside income-producing property and a great long-term investment. The property offers stability for any type of investor whether it may be a first-time purchaser, seasoned investor, or those seeking a 1031 exchange opportunity.
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1966
Lot Details
- 0.71 Acre Lot
- Two or More Common Walls
- Density is 26-30 Units/Acre
Parking
- 5 Open Parking Spaces
- 2 Car Garage
- 20 Carport Spaces
Home Design
- Apartment
- Entry on the 1st floor
Interior Spaces
- 19,800 Sq Ft Home
- 2-Story Property
- Laundry Room
Bedrooms and Bathrooms
- 3 Bedrooms
- 5 Bathrooms
Utilities
- Cooling System Mounted To A Wall/Window
- Wall Furnace
Listing and Financial Details
- Tax Lot 29
- Tax Tract Number 30503
- Assessor Parcel Number 211181017
- $852 per year additional tax assessments
Community Details
Recreation
- Community Pool
Building Details
- 27 Leased Units
- Rent Control
- 27 Separate Electric Meters
- 27 Separate Gas Meters
- 1 Separate Water Meter
- Electric Expense $4,827
- Fuel Expense $8,106
- Insurance Expense $9,384
- Maintenance Expense $12,675
- Other Expense $6,750
- Professional Management Expense $28,900
- Trash Expense $8,556
- Water Sewer Expense $4,826
- New Taxes Expense $73,084
- Operating Expense $157,107
- Gross Income $440,100
- Net Operating Income $265,389
Additional Features
- 27 Units
- Laundry Facilities
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 05/16/2024 05/16/24 | Sold | $6,150,000 | -5.4% | $311 / Sq Ft |
| 03/14/2024 03/14/24 | Pending | -- | -- | -- |
| 02/15/2024 02/15/24 | For Sale | $6,500,000 | -- | $328 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History
| 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 | $9,187 | $6,273,000 | $790,500 | $5,482,500 |
| 2023 | $9,187 | $743,562 | $344,382 | $399,180 |
| 2022 | $8,997 | $728,983 | $337,630 | $391,353 |
| 2021 | $8,876 | $714,690 | $331,010 | $383,680 |
| 2020 | $8,815 | $707,362 | $327,616 | $379,746 |
| 2019 | $8,663 | $693,493 | $321,193 | $372,300 |
| 2018 | $8,509 | $682,896 | $314,897 | $367,999 |
| 2017 | $8,371 | $669,566 | $308,723 | $360,843 |
| 2016 | $7,881 | $656,497 | $302,670 | $353,827 |
| 2015 | $7,772 | $646,683 | $298,125 | $348,558 |
| 2014 | $7,699 | $634,076 | $292,286 | $341,790 |
Source: Public Records
Agents Affiliated with this Home
-
Eric Chen
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: CV24032554
APN: 211-181-017
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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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