NOT LISTED FOR SALE

8132 Cypress Ave Riverside, CA 92503

Arlanza Neighborhood
12 Beds
6 Baths
4,292 Sq Ft
0.4 Acres

Last Sold August 26, 2019

Last sale price $975,000 $227 Per Sq Ft

45 Days on Market

Highlights

  • 0.4 Acre Lot
  • Double Pane Windows
  • Laundry Room
  • No HOA
  • Cooling System Mounted To A Wall/Window
  • Accessible Parking

About This Home

As of August 2019

Very rare 6 unit apartment for sale after 28 years of proud ownership by the seller! Excellent opportunity for multi family investors! Below market rental rate in very high rental demand area in Riverside! 100% occupied! Long time tenants provide steady and stable rental income! Each unit consists of 2 bedroom and 1 full bathroom. Each unit's rent income is $1300, $1070, $1240, $1300, $1190, $1070, which the total monthly income is $7170. Close to parks, schools and shopping centers! Seller just painted fresh outside of the building! See it for yourself this great investment opportunity before someone else take it! DRIVE BY ONLY DUE TO CURRENT TENANTS NOT KNOWING IT'S FOR SALE! DO NOT DISTURB OCCUPANTS! BUYER WILL COOPERATE WITH SELLER'S 1031 EXCHANGE WITHOUT ANY COST TO THE BUYER.

Last Agent to Sell the Property

Richard Yoo

Richard Yoo, Broker License #01402268 Listed on: 06/09/2019

Last Buyer's Agent

Arath Lara

ARATH LARA/BROKER License #01921795

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $5,008

Year Built

  • Built in 1959

Lot Details

  • 0.4 Acre Lot
  • No Common Walls
  • Wood Fence
  • Level Lot
  • Back Yard

Home Design

  • Brick Exterior Construction
  • Shingle Roof
  • Stucco

Interior Spaces

  • 4,292 Sq Ft Home
  • 1-Story Property
  • Ceiling Fan
  • Double Pane Windows
  • Blinds

Kitchen

  • Gas Oven
  • Gas Range

Flooring

  • Carpet
  • Laminate
  • Tile

Bedrooms and Bathrooms

  • 12 Bedrooms
  • 6 Bathrooms

Laundry

  • Laundry Room
  • Gas Dryer Hookup

Parking

  • 2 Open Parking Spaces
  • 10 Parking Spaces
  • 8 Attached Carport Spaces
  • Parking Available
  • Paved Parking

Accessible Home Design

  • Accessible Parking

Utilities

  • Cooling System Mounted To A Wall/Window
  • Natural Gas Connected

Listing and Financial Details

  • Tenant pays for electricity, gas, telephone, trash collection
  • Tax Lot 130
  • Tax Tract Number 9
  • Assessor Parcel Number 151161003

Community Details

Overview

  • No Home Owners Association
  • 6 Buildings
  • 6 Units

Building Details

  • 6 Separate Electric Meters
  • 6 Separate Gas Meters
  • 1 Separate Water Meter
  • Gardener Expense $720
  • Insurance Expense $2,053
  • Water Sewer Expense $1,500
  • New Taxes Expense $3,600
  • Operating Expense $13,162
  • Gross Income $86,040
  • Net Operating Income $78,051

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$5,008

Year Built

Built in 1959

Lot Details

0

Listing Details

  • Assessments: Yes
  • CapRate: 7.12
  • Property Attached: No
  • Road Frontage Type: City Street
  • Road Surface Type: Paved
  • View: No
  • Water Sewer Expenses: 1500.00
  • Zoning: R3
  • Property Type: Residential Income
  • Gardener Expense: 720.00
  • Parcel Number: 151161003
  • Year Built: 1959
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Interior Amenities: Ceiling Fan(s)
  • Stories: 1
  • Common Walls: No Common Walls
  • Flooring: Carpet, Laminate, Tile
  • Accessibility Features: Parking
  • Appliances: Yes
  • Levels: One
  • Price Per Square Foot: 227.17
  • Room Type: All Bedrooms Down, Kitchen
  • Window Features: Blinds, Double Pane Windows

Exterior Features

  • Fence: Yes
  • Fencing: Wood
  • Pool Private: No
  • Roof: Shingle
  • Construction Materials: Brick, Stucco

Garage/Parking

  • Carport Spaces: 8.00
  • Parking: Yes
  • Parking Features: Attached Carport, Concrete
  • Total Parking Spaces: 10.00
  • Uncovered Spaces: 2.00

Utilities

  • Utilities: Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
  • Laundry: Yes
  • Appliances: Gas Oven, Gas Range
  • Electric: Standard
  • Laundry Features: Gas Dryer Hookup, Inside
  • Sewer: Public Sewer
  • Water Source: Public
  • Cooling: Wall/Window Unit(s)
  • Cooling: Yes

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Back Yard, Level with Street, Lot 10000-19999 Sqft
  • Lot Size Sq Ft: 17424.00
  • Lot Size Acres: 0.4000

Rental Info

  • Tenant Pays: Electricity, Gas, Telephone, Trash Collection

Multi Family

  • Gross Income: 86040.00
  • Gross Multiplier: 12.78
  • Gross Scheduled Income: 86040.00
  • Insurance Expense: 2053.00
  • Lot Size Area: 17424.0000 Square Feet
  • Net Operating Income: 78051.00
  • Number Of Separate Electric Meters: 6
  • Number Of Separate Gas Meters: 6
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 6
  • Number With Disposal: 6
  • Number With Range: 6
  • Operating Expense: 13162.00
  • Rent Control: No
  • Total Expenses: 13162.00

Tax Info

  • New Taxes Expense: 3600.00
  • Tax Census Tract: 411.01
  • Tax Lot: 130
  • Tax Rate: 1.12
  • Tax Tract Number: 9-174
  • Tax Annual Amount: 5008.00

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
08/26/2019 08/26/19 Sold $975,000 -11.4% $227 / Sq Ft
07/24/2019 07/24/19 Pending -- -- --
06/09/2019 06/09/19 For Sale $1,100,000 -- $256 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • R

    Seller's Agent in 2019

    Richard Yoo

    Richard Yoo, Broker

    Section Image

  • A

    Buyer's Agent in 2019

    Arath Lara

    ARATH LARA/BROKER

    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: IG19139365

California Regional Multiple Listing Service (CRMLS)

APN: 151-161-003

California Riverside County Riverside 92503 Arlanza

8132 Cypress Ave, Riverside, CA

Not Listed for Sale

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.

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