$6,250,000
UNDER CONTRACT

4830 Palm Ave Riverside, CA 92501

Wood Streets Neighborhood

Estimated payment $38,899/month

Total Views 7,980
6 Beds
6 Baths
67,518 Sq Ft
$93 Price per Sq Ft

Highlights

  • 0.5 Acre Lot
  • Laundry Room
  • No Heating

About This Home

We are pleased to present the Palm Vista Apartments, a 24-unit multifamily property situated on over half an acre in Riverside, CA. The community consists primarily of spacious two- and three-bedroom units arranged around a landscaped outdoor courtyard. Located directly across from Ryan Bonaminio Sports Park and adjacent to the Historic Woods District, the property offers residents a quiet yet well-connected living experience. Units feature central A/C, electric cooking, individual electric meters and water heaters, with most units offering large patios or balconies. Common area amenities include a laundry facility, covered parking with secure storage, and a barbecue and picnic area. Additionally, the property provides a 2:1 parking ratio with 24 covered parking with storage and 23 open parking spaces. With a cap rate of 6.6% on market rents, Palm Vista Apartments presents a compelling, income-producing investment opportunity. (The Studio is Non-Conforming. Buyer to Verify Unit Mix)

Listing Agent

Chris Keramati

Triqor Group Brokerage Email: chris@triqorgroup.com License #01702116 Listed on: 10/08/2025

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1969

Lot Details

  • 0.5 Acre Lot
  • Two or More Common Walls
  • Irregular Lot

Home Design

  • Apartment
  • Entry on the 1st floor

Interior Spaces

  • 67,518 Sq Ft Home
  • 2-Story Property
  • Laundry Room

Bedrooms and Bathrooms

  • 6 Bedrooms
  • 6 Bathrooms

Parking

  • 23 Open Parking Spaces
  • 47 Parking Spaces
  • 24 Carport Spaces

Utilities

  • No Heating

Listing and Financial Details

  • Tax Lot 179
  • Assessor Parcel Number 217140035
  • $946 per year additional tax assessments

Community Details

Building Details

  • 24 Separate Electric Meters
  • 1 Separate Gas Meter
  • 24 Separate Water Meters
  • Operating Expense $194,501
  • Gross Income $538,385
  • Net Operating Income $343,884

Additional Features

  • 24 Units
  • Laundry Facilities

Property Details

Home Type

Multi-Family

Year Built

Built in 1969

Lot Details

0

Listing Details

  • Property Attached: Yes
  • Property Sub Type: Apartment
  • Property Type: Residential Income
  • Parcel Number: 217140035
  • Year Built: 1969
  • Special Features: UnderContract

Interior Features

  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Entry Level: 1
  • Levels: Two
  • Price Per Square Foot: 92.57

Exterior Features

  • Pool Private: No

Garage/Parking

  • Carport Spaces: 24.00
  • Total Parking Spaces: 47.00
  • Uncovered Spaces: 23.00

Utilities

  • Heating: No
  • Laundry: Yes
  • Laundry Features: Common Area
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Common Interest: Community Apartment
  • Community Features: Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Irregular Lot
  • Lot Size Sq Ft: 21850.00
  • Lot Size Acres: 0.5016

Multi Family

  • Gross Income: 538385.00
  • Gross Scheduled Income: 555036.00
  • Lot Size Area: 21850.0000 Square Feet
  • Net Operating Income: 343884.00
  • Number Of Separate Electric Meters: 24
  • Number Of Separate Gas Meters: 1
  • Number Of Separate Water Meters: 24
  • Number Of Units Total: 24
  • Operating Expense: 194501.00
  • Rent Control: No
  • Total Expenses: 194501.00

Tax Info

  • Tax Lot: 179
  • TaxOtherAnnualAssessmentAmount: 946.00

Map

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
11/01/2025 11/01/25 Price Changed $1,525 -1.6% $3 / Sq Ft
10/31/2025 10/31/25 Price Changed $1,550 0.0% $3 / Sq Ft
10/08/2025 10/08/25 For Sale $6,250,000 0.0% $93 / Sq Ft
09/23/2025 09/23/25 Price Changed $1,525 -- $3 / Sq Ft
09/20/2025 09/20/25 For Rent -- -- --
Source: California Regional Multiple Listing Service (CRMLS)

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW25235462

California Regional Multiple Listing Service (CRMLS)

APN: 217-140-035

California Riverside County Riverside 92501 Wood Streets

4830 Palm Ave, Riverside, CA

Under Contract

MultiFamily

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California Regional Multiple Listing Service (CRMLS) 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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Chris Keramati
Listing Agent
Chris Keramati
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Triqor Group
(909) 316-1985