K
Seller's Agent in 2021
Kurt Tiedt
Kurt W. Tiedt
(951) 278-0700
1 in this area
10 Total Sales
3613 Nye Ave Unit 1 Riverside, CA 92505
La Sierra NeighborhoodEstimated Value: $353,000 - $390,000
2
Beds
2
Baths
14,500
Sq Ft
$26/Sq Ft
Est. Value
Highlights
- 1.84 Acre Lot
- Laundry Room
- Central Heating and Cooling System
About This Home
As of May 2021This is a unique opportunity to own a high quality 16 unit condominium complex. All units already have their own Assessor Parcel Numbers and the seller is considering selling each unit separately. The complex was built in 2007 but due to the 2008 recession the units never sold and eventually were rented. The complex is operating as a higher end apartment complex, and each unit pays its own trash, sewer, water, electric and gas bills. Normally apartments pay many of these expenses, so the rents appear slightly lower than competing high quality newer apartments. Each unit has an attached two car garage, with laundry in the garage. The complex is gated on both sides and there is an attractive central grass area with kids playset and BBQ grills.
Property Details
Home Type
- Multi-Family
Year Built
- Built in 2007
Lot Details
- 1.84 Acre Lot
- Two or More Common Walls
- Density is 2-5 Units/Acre
Parking
- 8 Open Parking Spaces
- 32 Car Garage
Home Design
- Property Attached
Interior Spaces
- 14,500 Sq Ft Home
- 2-Story Property
Bedrooms and Bathrooms
- 2 Bedrooms
- 2 Bathrooms
Laundry
- Laundry Room
- Laundry in Garage
Additional Features
- Rain Gutters
- Suburban Location
- Central Heating and Cooling System
Listing and Financial Details
- Tenant pays for trash collection
- Legal Lot and Block 1 / A
- Tax Tract Number 34523
- Assessor Parcel Number 138053001
Community Details
Overview
- 2 Buildings
- 16 Units
Building Details
- 15 Leased Units
- Rent Control
- 17 Separate Electric Meters
- 17 Separate Gas Meters
- 17 Separate Water Meters
- Electric Expense $1,200
- Gardener Expense $6,000
- Insurance Expense $14,000
- Water Sewer Expense $3,600
- New Taxes Expense $60,000
- Operating Expense $84,800
- Gross Income $27,200
- Net Operating Income $19,828
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Jan 29, 2021
Closed on
May 18, 2021
Sold by
Hippoze Bulk Investments Llc
Bought by
Shan Real Estate Llc
Seller's Agent
Kurt Tiedt
Kurt W. Tiedt
Buyer's Agent
Kurt Tiedt
Kurt W. Tiedt
List Price
$4,950,000
Sold Price
$4,800,000
Premium/Discount to List
-$150,000
-3.03%
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$4,428,657
Avg. Annual Appreciation
-41.65%
Purchase Details
Closed on
Jul 17, 2014
Sold by
Riverside Grand Investment Llc
Bought by
Hippoze Bulk Investments Llc
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$2,100,000
Interest Rate
4.16%
Mortgage Type
Unknown
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Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| Shan Real Estate Llc | $4,800,000 | Fidelity National Title | |
| Hippoze Bulk Investments Llc | $3,000,000 | Nations Title Company |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Previous Owner | Hippoze Bulk Investments Llc | $2,100,000 |
Source: Public Records
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 05/19/2021 05/19/21 | Sold | $4,800,000 | -3.0% | $331 / Sq Ft |
| 04/01/2021 04/01/21 | Pending | -- | -- | -- |
| 01/29/2021 01/29/21 | For Sale | $4,950,000 | 0.0% | $341 / Sq Ft |
| 07/01/2020 07/01/20 | Rented | $1,641 | 0.0% | -- |
| 06/05/2020 06/05/20 | For Rent | $1,641 | -- | -- |
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 | $3,913 | $324,727 | $64,945 | $259,782 |
| 2023 | $3,913 | $312,120 | $62,424 | $249,696 |
| 2022 | $3,622 | $306,000 | $61,200 | $244,800 |
| 2021 | $2,497 | $208,181 | $22,204 | $185,977 |
| 2020 | $2,458 | $206,048 | $21,977 | $184,071 |
| 2019 | $2,426 | $202,009 | $21,547 | $180,462 |
| 2018 | $2,392 | $198,049 | $21,125 | $176,924 |
| 2017 | $2,349 | $194,166 | $20,711 | $173,455 |
| 2016 | $2,311 | $190,359 | $20,305 | $170,054 |
| 2015 | $2,276 | $187,500 | $20,000 | $167,500 |
| 2014 | $1,971 | $159,000 | $35,000 | $124,000 |
Source: Public Records
Agents Affiliated with this Home
-
Kurt Tiedt
-
L
Seller's Agent in 2020
Luis Torres
Kurt W. Tiedt
-
M
Buyer's Agent in 2020
Maria Serrato
Star Max Realty
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: IG21019691
APN: 138-053-001
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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