NOT LISTED FOR SALE

8342 Cypress Ave Riverside, CA 92503

Arlanza Neighborhood
11 Beds
5 Baths
3,652 Sq Ft
0.47 Acres

Last Sold September 01, 2023

Last sale price $1,120,000 $307 Per Sq Ft

34 Days on Market

Highlights

  • 0.47 Acre Lot
  • No HOA
  • Cooling System Mounted To A Wall/Window
  • Corner Lot
  • Hiking Trails
  • Park

About This Home

As of September 2023

Welcome to Riverside's hidden gem! This remarkable 5-unit rental income property presents an incredible opportunity for investors seeking a profitable venture in a thriving community. Situated in a prime location, this property offers the best of both worlds: tranquility and convenience. Nestled in the heart of Riverside, residents will enjoy easy access to a wide array of amenities, including shopping centers, restaurants, parks, and entertainment options. The property's strategic location ensures excellent rental demand and consistent cash flow. Investors will appreciate the potential for steady income and long-term growth, making this an attractive addition to any investment portfolio. Don't miss this exceptional opportunity to own a lucrative 5-unit rental income property in Riverside!

Last Agent to Sell the Property

Jesse Tinajero

Century 21 Union Realty License #02128655 Listed on: 06/20/2023

Century 21 Union Realty

Last Buyer's Agent

Jesse Tinajero

Century 21 Union Realty License #02128655 Listed on: 06/20/2023

Century 21 Union Realty

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1945

Lot Details

  • 0.47 Acre Lot
  • Two or More Common Walls
  • Corner Lot
  • Density is 2-5 Units/Acre

Parking

  • 8 Car Garage
  • Parking Available
  • Assigned Parking

Home Design

  • Property Attached

Interior Spaces

  • 3,652 Sq Ft Home
  • 1-Story Property

Bedrooms and Bathrooms

  • 11 Bedrooms
  • 5 Bathrooms

Laundry

  • Laundry Room
  • Dryer
  • Washer

Additional Features

  • Suburban Location
  • Cooling System Mounted To A Wall/Window

Listing and Financial Details

  • Tax Lot 19
  • Tax Tract Number 411
  • Assessor Parcel Number 151111016

Community Details

Overview

  • No Home Owners Association
  • 3 Buildings
  • 5 Units
  • Mountainous Community

Recreation

  • Park
  • Horse Trails
  • Hiking Trails

Building Details

  • 5 Leased Units
  • 3 Separate Electric Meters
  • 3 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $3,720
  • Fuel Expense $1,680
  • Insurance Expense $2,200
  • Trash Expense $600
  • Water Sewer Expense $1,680
  • New Taxes Expense $16,000
  • Operating Expense $25,880
  • Gross Income $86,400
  • Net Operating Income $60,520

Property Details

Home Type

Multi-Family

Year Built

Built in 1945

Lot Details

0

Parking

8

Listing Details

  • Assessments: No
  • Price Per Unit: 240000
  • Property Attached: Yes
  • Water Sewer Expenses: 1680.00
  • Property Sub Type: Commercial/Residential
  • Property Type: Residential Income
  • Parcel Number: 151111016
  • Year Built: 1945
  • Special Features: None

Interior Features

  • Stories: 1
  • Entry Location: Front
  • Common Walls: 2+ Common Walls
  • Entry Level: 1
  • Price Per Square Foot: 306.68

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 8.00
  • Parking: Yes
  • Parking Features: Assigned
  • Total Parking Spaces: 8.00

Utilities

  • Laundry: Yes
  • Laundry Features: Dryer Included, Individual Room, Washer Included
  • Sewer: Public Sewer
  • Trash Expense: 600.00
  • Water Source: Public
  • Cooling: Wall/Window Unit(s)
  • Cooling: Yes

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Hiking, Horse Trails, Park, Mountainous, Suburban

Lot Info

  • Land Lease: No
  • Lot Features: 2-5 Units/Acre, Corner Lot, Lot 20000-39999 Sqft
  • Lot Size Sq Ft: 20473.00
  • Lot Size Acres: 0.4700

Multi Family

  • Electric Expense: 3720.00
  • Fuel Expense: 1680.00
  • Gross Income: 86400.00
  • Gross Scheduled Income: 86400.00
  • Insurance Expense: 2200.00
  • Lot Size Area: 20473.0000 Square Feet
  • Net Operating Income: 60520.00
  • Number Of Separate Electric Meters: 3
  • Number Of Separate Gas Meters: 3
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 5
  • Number Of Units Total: 5
  • Operating Expense: 25880.00
  • Rent Control: No
  • Total Actual Rent: 7200.00
  • Total Expenses: 25880.00

Tax Info

  • New Taxes Expense: 16000.00
  • Tax Lot: 19
  • Tax Tract Number: 411

Range of Values:

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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
09/01/2023 09/01/23 Sold $1,120,000 -6.7% $307 / Sq Ft
08/16/2023 08/16/23 Price Changed $1,200,000 0.0% $329 / Sq Ft
08/16/2023 08/16/23 For Sale $1,200,000 0.0% $329 / Sq Ft
06/20/2023 06/20/23 For Sale $1,200,000 -- $329 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • J

    Seller's Agent in 2023

    Jesse Tinajero

    Century 21 Union Realty

    (310) 371-6330

    1 in this area

    3 Total Sales

    Jesse Tinajero
    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: SB23103801

California Regional Multiple Listing Service (CRMLS)

APN: 151-111-016

California Riverside County Riverside 92503 Arlanza

8342 Cypress Ave, Riverside, CA

This home is located at 8342 Cypress Ave, Riverside, CA 92503 since 20 June 2023. This property was built in 1945. 8342 Cypress Ave is a home located in Riverside County with nearby schools including Arlanza Elementary School, Wells Middle School, and Norte Vista 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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