NOT LISTED FOR SALE
9 Beds
8 Baths
5,500 Sq Ft
9,148 Sq Ft Lot

Last Sold September 15, 2014

Last sale price $680,000 $124 Per Sq Ft

207 Days on Market

Highlights

  • No HOA
  • Cooling System Mounted To A Wall/Window
  • Satellite Dish
  • Wood Frame Window
  • Laundry Room
  • Carpet

About This Home

As of September 2014

One - Two Story walk up building with two adjacent buildings totaling 8 units on two parcels of land. The addresses are 3410 Prospect Ave and 4609-11-15 Olivewood. The property consists of 2 -2 bedroom units; 5 - 1 bedroom units and 1 single. The property is located with walking distance to downtown Riverside and Riverside City College. The property offers a laundry room with an open gravel parking area adjacent to the units. All units are rented. The rents are low for the area. PLEASE DO NOT DISTURB THE TENANTS!!!! ALL OFFERS ARE SUBJECT TO INTERIOR INSPECTION.

Last Agent to Sell the Property

JOSEPH PASSERINO

IPS COMMERCIAL CAPITAL License #00631090 Listed on: 02/20/2014

Last Buyer's Agent

NoEmail NoEmail

NONMEMBER MRML

NONMEMBER MRML

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1930

Lot Details

  • 9,148 Sq Ft Lot
  • Two or More Common Walls
  • Fence is in average condition
  • Density is 11-15 Units/Acre

Parking

  • 8 Car Garage
  • Parking Available
  • Unassigned Parking

Home Design

  • Property Attached
  • Slab Foundation
  • Composition Roof

Interior Spaces

  • 5,500 Sq Ft Home
  • 2-Story Property
  • Wood Frame Window
  • Panel Doors
  • Carpet
  • Carbon Monoxide Detectors
  • Gas Range
  • Laundry Room

Bedrooms and Bathrooms

  • 9 Bedrooms
  • 8 Bathrooms

Utilities

  • Cooling System Mounted To A Wall/Window
  • Wall Furnace
  • 220 Volts in Kitchen
  • Sewer Paid
  • Satellite Dish

Listing and Financial Details

  • Tenant pays for electricity
  • Legal Lot and Block 7 / 7
  • Tax Tract Number 303
  • Assessor Parcel Number 219044003

Community Details

Overview

  • No Home Owners Association
  • 3 Buildings
  • 8 Units

Amenities

  • Laundry Facilities

Building Details

  • 8 Leased Units
  • 8 Separate Electric Meters
  • 7 Separate Gas Meters
  • 3 Separate Water Meters
  • Electric Expense $2,000
  • Gardener Expense $800
  • Insurance Expense $2,500
  • Maintenance Expense $2,000
  • Other Expense $4,800
  • Pest Control $400
  • Professional Management Expense $3,399
  • Trash Expense $1,000
  • Water Sewer Expense $2,400
  • New Taxes Expense $8,438
  • Gross Income $5,665
  • Net Operating Income $38,324

Property Details

Home Type

Multi-Family

Year Built

Built in 1930

Lot Details

0

Parking

8

Listing Details

  • Assessments: Yes
  • Professional Management Expense: 3399.00
  • Property Attached: Yes
  • Security: Carbon Monoxide Detector(s)
  • View: No
  • Water Sewer Expenses: 2400.00
  • Property Type: Residential Income
  • Gardener Expense: 800.00
  • Parcel Number: 219044003
  • Year Built: 1930
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Flooring: Carpet
  • Appliances: Yes
  • Door Features: Panel Doors
  • Levels: Two
  • Price Per Square Foot: 123.64
  • Window Features: Wood Frames

Exterior Features

  • Foundation: Slab
  • Exterior Features: Satellite Dish
  • Fencing: Average Condition
  • Pool Private: No
  • Roof: Composition
  • Spa: No

Garage/Parking

  • Garage Spaces: 8.00
  • Parking: Yes
  • Parking Features: Unassigned
  • Total Parking Spaces: 8.00

Utilities

  • Heating: Yes
  • Laundry: Yes
  • Appliances: Gas Range
  • Electric: 220 Volts in Kitchen
  • Heating Type: Wall Furnace
  • Laundry Features: Common Area
  • Pest Control Expense: 400.00
  • Sewer: Sewer Paid
  • Trash Expense: 1000.00
  • Water Source: Public
  • Cooling: Wall/Window Unit(s)
  • Cooling: Yes

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Curbs

Lot Info

  • Lot Features: 11-15 Units/Acre
  • Lot Size Sq Ft: 9148.00
  • Lot Size Acres: 0.2100

Rental Info

  • Tenant Pays: Electricity

Multi Family

  • Average1 Bed Area: 650
  • Average2 Bed Area: 875
  • Average Studio Area: 500
  • Electric Expense: 2000.00
  • Gross Income: 5665.00
  • Gross Multiplier: 10.09
  • Gross Scheduled Income: 70380.00
  • Insurance Expense: 2500.00
  • Lot Size Area: 9148.0000 Square Feet
  • Maintenance Expense: 2000.00
  • Net Operating Income: 38324.00
  • Number Of Separate Electric Meters: 8
  • Number Of Separate Gas Meters: 7
  • Number Of Separate Water Meters: 3
  • Number Of Units Leased: 8
  • Number Of Units Total: 8
  • Number With Carpet: 8
  • Number With Range: 8
  • Operating Expense: 28537.00
  • Other Expense: 4800.00
  • Rent Control: No
  • Total Actual Rent: 5665.00
  • Vacancy Allowance Rate: 5.00

Tax Info

  • New Taxes Expense: 8438.00
  • Tax Block: 7
  • Tax Lot: 7
  • Tax Tract Number: 303
  • Tax Year: 2013

Range of Values:

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Value Increase
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Percent Increase
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Adjusted for Inflation
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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
09/15/2014 09/15/14 Sold $680,000 -4.2% $124 / Sq Ft
09/15/2014 09/15/14 Pending -- -- --
02/20/2014 02/20/14 For Sale $710,000 -- $129 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

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 $9,749 $892,410 $206,369 $686,041
2023 $9,749 $857,758 $198,356 $659,402
2022 $9,529 $840,940 $194,467 $646,473
2021 $9,387 $824,452 $190,654 $633,798
2020 $9,316 $816,000 $188,700 $627,300
2019 $5,977 $517,144 $150,833 $366,311
2018 $5,862 $507,005 $147,876 $359,129
2017 $5,759 $497,065 $144,977 $352,088
2016 $5,394 $487,320 $142,135 $345,185
2015 $5,318 $480,000 $140,000 $340,000
2014 $1,664 $137,976 $48,569 $89,407
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: IV14036687

California Regional Multiple Listing Service (CRMLS)

APN: 219-044-003