NOT LISTED FOR SALE

5035 Olivewood Ave Riverside, CA 92506

Wood Streets Neighborhood
10 Beds
6 Baths
14,325 Sq Ft
0.9 Acres

Last Sold August 31, 2017

Last sale price $2,585,000 $180 Per Sq Ft

21 Days on Market

Highlights

  • In Ground Pool
  • Polytechnic High School Rated A-
  • 39,204 Sq Ft lot

About This Home

As of August 2017

The Glen Echo Apartments consists of a an attractive unit mix: (1) 3+1.5 SFR, (11) 2+1 units, (8) 1+1 units near Downtown Riverside, Riverside Community College, and University of California, Riverside. Superb access to all major freeways including FWY 91, FWY 215, FWY 60. Tenant amenities include: Courtyard with a sparkling pool, BBQ areas, on-site laundry facility, carport and open parking. The Glen Echo Apartments allows for an investor to acquire a well-positioned asset in a supply constrained submarket. Increased demand for apartment rentals within the University submarket have increased rents significantly, and all projections point towards continued growth. The property is located near various amenities including: multiple supermarkets, transit lines, dining establishments and service providers.

Last Agent to Sell the Property

Brad New

Vanguard Property Group License #01347742 Listed on: 05/19/2017

Co-Listed By

Ed Diaz

Vanguard Property Group License #01022469

Last Buyer's Agent

Ed Diaz

Vanguard Property Group License #01022469

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1963

Lot Details

  • 0.9 Acre Lot
  • 1 Common Wall

Parking

  • 12 Open Parking Spaces
  • 2 Car Garage
  • 24 Carport Spaces
  • Parking Available

Home Design

  • 14,325 Sq Ft Home
  • Property Attached

Bedrooms and Bathrooms

  • 10 Bedrooms
  • 6 Bathrooms

Utilities

  • Natural Gas Connected
  • Water Connected

Additional Features

  • Leased Washer and Dryer
  • In Ground Pool

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Tax Lot 191
  • Tax Tract Number 123
  • Assessor Parcel Number 219163022

Community Details

Overview

  • 4 Buildings
  • 20 Units

Recreation

  • Community Pool

Building Details

  • 21 Separate Electric Meters
  • 21 Separate Gas Meters
  • 2 Separate Water Meters
  • Insurance Expense $5,460
  • Maintenance Expense $7,351
  • Pest Control $362
  • Pool Expense $1,880
  • Supplies Expense $220
  • New Taxes Expense $29,325
  • Operating Expense $68,670
  • Gross Income $216,960
  • Net Operating Income $141,455

Property Details

Home Type

Multi-Family

Year Built

Built in 1963

Lot Details

0

Parking

2

Listing Details

  • CapRate: 5.55
  • Property Attached: Yes
  • Supplies Expense: 220.00
  • Property Type: Residential Income
  • Parcel Number: 219163022
  • Year Built: 1963
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: 1 Common Wall
  • Price Per Square Foot: 180.45

Exterior Features

  • Pool Expense: 1880.00
  • Pool Features: Community, In Ground
  • Pool Private: No

Garage/Parking

  • Carport Spaces: 24.00
  • Garage Spaces: 2.00
  • Parking: Yes
  • Parking Features: Carport
  • Total Parking Spaces: 38.00
  • Uncovered Spaces: 12.00

Utilities

  • Utilities: Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
  • Pest Control Expense: 362.00
  • Sewer: Public Sewer
  • Water Source: None

Condo/Co-op/Association

  • Community Features: Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Lot 20000-39999 Sqft
  • Lot Size Sq Ft: 39204.00

Rental Info

  • Tenant Pays: Electricity, Gas

Multi Family

  • Gross Income: 216960.00
  • Gross Multiplier: 11.65
  • Gross Scheduled Income: 216960.00
  • Insurance Expense: 5460.00
  • Laundry Equipment Own Lease: Lease
  • Laundry Income: 1920.00
  • Maintenance Expense: 7351.00
  • Net Operating Income: 141455.00
  • Number Of Separate Electric Meters: 21
  • Number Of Separate Gas Meters: 21
  • Number Of Separate Water Meters: 2
  • Number Of Units Total: 20
  • Operating Expense: 68670.00
  • Other Expense Description: see supp
  • Rent Control: No
  • Total Expenses: 68670.00
  • Vacancy Allowance: 8755
  • Vacancy Allowance Rate: 4.00

Tax Info

  • New Taxes Expense: 29325.00
  • Tax Census Tract: 307.00
  • Tax Lot: 191
  • Tax Tract Number: 123

Range of Values:

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List Price
Sold Price
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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 Change Sq Ft Price
08/31/2017 08/31/17 Sold $2,585,000 +1.4% $180 / Sq Ft
06/09/2017 06/09/17 Pending -- -- --
05/19/2017 05/19/17 For Sale $2,550,000 -- $178 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Brad New

    Seller's Agent in 2017

    Brad New

    Vanguard Property Group

    (714) 446-0100

    30 Total Sales

    Brad New
    Section Image
  • Ed Diaz

    Seller Co-Listing Agent in 2017

    Ed Diaz

    Vanguard Property Group

    (714) 900-0169

    30 Total Sales

    Ed Diaz
    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW17111497

California Regional Multiple Listing Service (CRMLS)

APN: 219-163-022

California Riverside County Riverside 92506 Wood Streets

5035 Olivewood Ave, Riverside, CA

This home is located at 5035 Olivewood Ave, Riverside, CA 92506 since 19 May 2017. This property was built in 1963. 5035 Olivewood Ave is a home located in Riverside County with nearby schools including Pachappa Elementary School, Central Middle School, and Polytechnic High School.

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.

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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