NOT LISTED FOR SALE

9030 Colony Place Unit A-D Riverside, CA 92503

Ramona Neighborhood

Estimated Value: $1,231,542 - $1,346,000

5 Beds
3 Baths
4,080 Sq Ft
$320/Sq Ft Est. Value

Last Sold August 27, 2019

Last sale price $825,000 $202 Per Sq Ft

Est. 56% increase in value since last sale

Current estimated payment $7,526/month

14 Days on Market

Highlights

  • Corner Lot
  • Cul-De-Sac
  • Tile Flooring
  • No HOA
  • Laundry Room
  • Central Heating and Cooling System

About This Home

As of August 2019

9030 Colony Place is located in a quiet cul-de-sac 2 miles north of the 91 Freeway, near the intersection of Arlington Avenue and Van Buren Boulevard. California Baptist University, Parkview Community Hospital and the Riverside Municipal Airport are less than 2 miles from the property. Galleria at Tyler, UC Riverside, Downtown Riverside, and Loma Linda University & Hospital are easily accessible using the 60, 91, and I-215 freeways.
The Colony Place Apartments is a rare, non-rent-controlled, 4-unit property. Built in 1978, the apartments are situated on a ±8,320 square foot lot with a total building size of ±4,080 square feet. The property offers an excellent unit mix of two-bedroom/one-and-half-bathroom and three-bedroom/two-bathroom townhome-style units averaging 1,020 square feet. The property features 7 assigned parking spots, mature landscaping, and new exterior paint. All units feature central air conditioning and heat, oven/stoves and private balconies and/or back patios. Select units include new carpet.

Last Agent to Sell the Property

Eric Chen

CB RICHARD ELLIS Listed on: 05/28/2019

Last Buyer's Agent

Sonya Feigen

Vogler Feigen Realty License #01266327

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $9,558

Year Built

  • Built in 1978

Lot Details

  • 8,320 Sq Ft Lot
  • Two or More Common Walls
  • Cul-De-Sac
  • Corner Lot

Home Design

  • Property Attached

Interior Spaces

  • 4,080 Sq Ft Home
  • 2-Story Property
  • Laundry Room

Flooring

  • Carpet
  • Tile

Bedrooms and Bathrooms

  • 5 Bedrooms
  • 3 Bathrooms

Parking

  • 7 Open Parking Spaces
  • 7 Parking Spaces
  • Parking Available
  • Assigned Parking

Additional Features

  • Exterior Lighting
  • Central Heating and Cooling System

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Tax Lot 7
  • Tax Tract Number 315
  • Assessor Parcel Number 191073088

Community Details

Overview

  • No Home Owners Association
  • 2 Buildings
  • 4 Units

Amenities

  • Laundry Facilities

Building Details

  • 4 Leased Units
  • 4 Separate Electric Meters
  • 4 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $1,327
  • Fuel Expense $273
  • Gardener Expense $720
  • Insurance Expense $1,200
  • Maintenance Expense $2,844
  • Other Expense $800
  • Trash Expense $1,661
  • Water Sewer Expense $1,327
  • New Taxes Expense $9,558
  • Operating Expense $19,709
  • Gross Income $58,632
  • Net Operating Income $37,164

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$9,558

Year Built

Built in 1978

Lot Details

0

Listing Details

  • CapRate: 4.42
  • Property Attached: Yes
  • Water Sewer Expenses: 1326.50
  • Zoning: R3
  • Property Type: Residential Income
  • Gardener Expense: 720.00
  • Parcel Number: 191073088
  • Year Built: 1978
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: No
  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Flooring: Carpet, Tile
  • Levels: Two
  • Price Per Square Foot: 202.21

Exterior Features

  • Pool Private: No

Garage/Parking

  • Parking: Yes
  • Parking Features: Assigned
  • Total Parking Spaces: 7.00
  • Uncovered Spaces: 7.00

Utilities

  • Heating: Yes
  • Laundry: Yes
  • Heating Type: Central
  • Laundry Features: Community
  • Sewer: Public Sewer
  • Trash Expense: 1661.00
  • Water Source: Public
  • Cooling: Central Air
  • Cooling: Yes

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Curbs, Sidewalks, Street Lights

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Corner Lot, Cul-De-Sac
  • Lot Size Sq Ft: 8320.00
  • Lot Size Acres: 0.1910

Rental Info

  • Tenant Pays: Electricity, Gas

Multi Family

  • Average2 Bed Area: 957 Square Feet
  • Average3 Bed Area: 1209 Square Feet
  • Electric Expense: 1326.50
  • Fuel Expense: 273.00
  • Gross Income: 58632.00
  • Gross Multiplier: 14.43
  • Gross Operating Income: 56873.00
  • Gross Scheduled Income: 58200.00
  • Gross Spendable Income: 17632.00
  • Insurance Expense: 1200.00
  • Laundry Income: 432.00
  • Lot Size Area: 8320.0000 Square Feet
  • Maintenance Expense: 2844.00
  • Maintenance Percent: 5.00
  • Net Operating Income: 37164.00
  • Number Of Separate Electric Meters: 4
  • Number Of Separate Gas Meters: 4
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 4
  • Number Of Units Total: 4
  • Operating Expense: 19709.00
  • Operating Expense Percent: 34.65
  • Other Expense: 800.00
  • Other Expense Description: Reserves
  • Rent Control: No
  • Total Actual Rent: 4850.00
  • Total Expenses: 19709.00
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 9558.00
  • Taxes Percent: 16.81
  • Tax Lot: 7
  • Tax Rate: 1.12
  • Tax Tract Number: 315.02
  • Tax Annual Amount: 9558.00
  • Tax Year: 2018

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
May 28, 2019
Closed on
Aug 1, 2019
Sold by
Rahnama Mohammed and Rahnama Zahra
Bought by
Soboba Band Of Luiseno Indians
Seller's Agent
Eric Chen
CB RICHARD ELLIS
Buyer's Agent
Sonya Feigen
Vogler Feigen Realty
List Price
$840,000
Sold Price
$825,000
Premium/Discount to List
-$15,000
-1.79%
Current Estimated Value
$1,283,559

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$458,559
Avg. Annual Appreciation
7.44%

Purchase Details

Closed on
Oct 21, 2003
Sold by
Rahnama Mohammed and Rahnama Zahra
Bought by
Rahnama Mohammed and Rahnama Zahra

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$292,000
Interest Rate
6%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Apr 29, 2002
Sold by
Sanchez Benjamin and Sanchez Mary L
Bought by
Rahnamay Mohammed and Rahnama Zahra

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$201,375
Interest Rate
6.87%
Mortgage Type
Commercial
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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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

Purchase History

Date Buyer Sale Price Title Company
Soboba Band Of Luiseno Indians $825,000 First American Title Ins Co
Rahnama Mohammed -- Ticor Title Company
Rahnamay Mohammed $268,500 Commerce Title
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Rahnama Mohammed $292,000
Previous Owner Rahnamay Mohammed $201,375
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
08/27/2019 08/27/19 Sold $825,000 -1.8% $202 / Sq Ft
06/11/2019 06/11/19 Pending -- -- --
05/28/2019 05/28/19 For Sale $840,000 -- $206 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

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 $9,853 $902,253 $136,703 $765,550
2023 $9,853 $867,220 $131,396 $735,824
2022 $9,630 $850,217 $128,820 $721,397
2021 $9,487 $833,547 $126,295 $707,252
2020 $9,416 $825,000 $125,000 $700,000
2019 $4,083 $347,936 $85,678 $262,258
2018 $4,005 $342,115 $84,000 $258,115
2017 $3,936 $335,427 $82,353 $253,074
2016 $3,690 $328,871 $80,739 $248,132
2015 $3,638 $323,948 $79,527 $244,421
2014 $3,604 $317,623 $77,970 $239,653
Source: Public Records

Agents Affiliated with this Home

  • Eric Chen

    Seller's Agent in 2019

    Eric Chen

    CB RICHARD ELLIS

    (909) 418-2030

    65 Total Sales

    Eric Chen
    Section Image

  • S

    Buyer's Agent in 2019

    Sonya Feigen

    Vogler Feigen Realty

    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: CV19124463

California Regional Multiple Listing Service (CRMLS)

APN: 191-073-088

California Riverside County Riverside 92503 Ramona

9030 Colony Place Unit A-D, Riverside, CA

Not Listed for Sale

MultiFamily

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