Seller's Agent in 2016
Albert Le
LE INVESTMENT GROUP
(909) 256-7889
24 Total Sales
3575 Ottawa Ave Riverside, CA 92507
Eastside Neighborhood
3
Beds
2
Baths
6,970
Sq Ft
0.55
Acres
About This Home
As of February 2016Highlights; Competitive Offering CAP Rate of 6.01 % With a ProForma CAP Rate of 6.42 %, Competitive Offering GRM of 10.77 With a ProForma GRM of 10.39, New Vinyl Windows, Tuck Under Garages, Conservative 10% Upside In Potential Rental Income Per Rental Survey, 100 % Occupied Asset, Rental Comparables Illustrate a 98 % Occupancy Area. The Ottawa Street Apartment is situated on a corner lot totaling 24,000 Sq. Ft. This ten unit apartment community is composed of 5 one bedroom / one bathroom units & 5 two bedroom / one bathroom units. The property has been updated throughout the years, recent improvements include new vinyl windows throughout. The current tenants are long term & the building is 100% occupied. In the heart of the City of Riverside, the property is ideally located, one block north of University Avenue, which represents a main thoroughfare between Historic Downtown Riverside, Riverside Community College and The University of California Riverside. University Avenue has been an emphasis of development, with new retail and office spaces steadily moving east, towards Downtown. With initiatives by the City to implement street cars running from Downtown to the UCR Campus, a train station in the neighborhood is also expected in the near future.
Last Agent to Sell the Property
LE INVESTMENT GROUP License #01468313 Listed on: 11/17/2015
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1954
Lot Details
- 0.55 Acre Lot
- Two or More Common Walls
- Density is 11-15 Units/Acre
Parking
- 5 Car Garage
Home Design
- 6,970 Sq Ft Home
- Property Attached
Bedrooms and Bathrooms
- 3 Bedrooms
- 2 Bathrooms
Outdoor Features
- Exterior Lighting
Listing and Financial Details
- Tax Lot 6
- Tax Tract Number 153
- Assessor Parcel Number 211153006
Community Details
Overview
- 2 Buildings
- 10 Units
Building Details
- 10 Separate Electric Meters
- 1 Separate Gas Meter
- 10 Separate Water Meters
- Electric Expense $1,767
- Gardener Expense $600
- Insurance Expense $2,674
- Maintenance Expense $4,800
- Pest Control $300
- Professional Management Expense $4,000
- Supplies Expense $600
- Trash Expense $1,584
- Water Sewer Expense $2,703
- New Taxes Expense $12,100
- Gross Income $8,820
- Net Operating Income $70,651
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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 |
|---|---|---|---|---|
| 02/15/2016 02/15/16 | Sold | $1,100,000 | 0.0% | $158 / Sq Ft |
| 12/14/2015 12/14/15 | Pending | -- | -- | -- |
| 11/17/2015 11/17/15 | For Sale | $1,100,000 | -- | $158 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History Compared to Growth
Agents Affiliated with this Home
-
Albert Le
-
Anie Mayelian
Buyer's Agent in 2016
Anie Mayelian
Keller Williams Realty Calabasas
(818) 915-9118
29 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: IV15248158
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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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