4800 Palm Ave Riverside, CA 92501
Wood Streets NeighborhoodEstimated payment $127,195/month
Highlights
- Senior Community
- Laundry Room
- Central Heating and Cooling System
- 1.96 Acre Lot
About This Home
We are proud proud to exclusively present The Woods Senior Living, a 55+ active adult apartment community located at 4800 N Palm Avenue in the city of Riverside. This superbly designed and well-located community is being brought to the market at an opportune time as the senior population of adults aged 55+ in the United States is projected to significantly increase over the next ten years and beyond.
The Woods Senior Living is ideally located within the city of Riverside’s medical zone just west of downtown Riverside on Palm Avenue between Tequesquite Avenue and Beechwood Place. It is within walking distance to Riverside Community Hospital & Emergency Room, several urgent cares, doctors’ offices, and medical clinics. The property also offers scenic views of Mount Rubidoux and is directly across the street from Ryan Bonaminio Park, providing tenants convenient access to greenbelt walkways and park amenities. The property is also within a 2-mile radius from the Metrolink Station, bus stations, supermarkets, financial institutions, shopping centers, and various restaurants.
The Woods Senior Living is an excellently maintained, and meticulously thought out, two-story, 59-unit property that is tailored to the senior community. Constructed in 2021, the property is one of a select few multifamily communities built in the Inland Empire over the last 5 years and is one of even fewer senior multifamily communities built during that time. It is a pride of ownership building situated on a lushly landscaped ±85,378 square foot lot, with a total building size of ±39,972 square feet. The Woods Senior Living features controlled gated entry and parking, carport parking, security monitoring system, elevator access, sprinkler system, fully furnished and equipped community room & kitchen, fitness center, exterior water fountains, and outdoor courtyard with BBQ grills. The property offers spacious one- and two-bedroom units with an average unit size of 677 square feet. Every unit includes central air conditioning and heating, plank & carpet flooring, private patio/balcony, tankless water heater, quartz countertops, in unit washer/dryer, prewired for ceiling fans, and stainless-steel appliances including refrigerator, oven/stove, dishwasher, and microwave.
The Woods Senior Living is a highly sought after income-producing property and a great long-term investment opportunity.
Property Details
Home Type
- Multi-Family
Year Built
- Built in 2021
Lot Details
- 1.96 Acre Lot
- Two or More Common Walls
Home Design
- Apartment
Interior Spaces
- 39,972 Sq Ft Home
- 2-Story Property
Bedrooms and Bathrooms
- 4 Bedrooms
- 3 Bathrooms
Laundry
- Laundry Room
- Dryer
- Washer
Parking
- 34 Open Parking Spaces
- 61 Parking Spaces
- 27 Carport Spaces
- Parking Available
- Driveway
Utilities
- Central Heating and Cooling System
Listing and Financial Details
- Tax Lot 1
- Tax Tract Number 30200
- Assessor Parcel Number 217140039
- $2,045 per year additional tax assessments
Community Details
Overview
- Senior Community
- 59 Units
Building Details
- 59 Leased Units
- Rent Control
- 59 Separate Electric Meters
- 59 Separate Gas Meters
- 1 Separate Water Meter
- Gardener Expense $41,033
- Insurance Expense $38,350
- Maintenance Expense $38,350
- Other Expense $11,800
- Professional Management Expense $68,588
- Supplies Expense $20,899
- Trash Expense $26,665
- Water Sewer Expense $26,665
- New Taxes Expense $215,434
- Operating Expense $487,784
- Gross Income $1,412,099
- Net Operating Income $881,952
Map
Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 07/02/2025 07/02/25 | For Sale | $19,500,000 | 0.0% | $488 / Sq Ft |
| 06/18/2025 06/18/25 | Price Changed | $1,860 | +1.6% | $3 / Sq Ft |
| 05/24/2025 05/24/25 | Price Changed | $1,830 | +1.9% | $3 / Sq Ft |
| 03/22/2025 03/22/25 | Price Changed | $1,795 | -17.5% | $3 / Sq Ft |
| 02/25/2025 02/25/25 | Price Changed | $2,175 | -2.5% | $4 / Sq Ft |
| 01/04/2025 01/04/25 | Price Changed | $2,230 | +24.2% | $4 / Sq Ft |
| 01/03/2025 01/03/25 | Price Changed | $1,795 | +1.1% | $3 / Sq Ft |
| 12/13/2024 12/13/24 | Price Changed | $1,775 | -2.2% | $3 / Sq Ft |
| 12/01/2024 12/01/24 | Price Changed | $1,815 | -1.4% | $3 / Sq Ft |
| 11/22/2024 11/22/24 | Price Changed | $1,840 | +5.1% | $3 / Sq Ft |
| 11/12/2024 11/12/24 | Price Changed | $1,750 | -4.9% | $3 / Sq Ft |
| 10/11/2024 10/11/24 | Price Changed | $1,840 | +1.4% | $3 / Sq Ft |
| 10/03/2024 10/03/24 | Price Changed | $1,815 | -1.4% | $3 / Sq Ft |
| 08/27/2024 08/27/24 | Price Changed | $1,840 | +1.4% | $3 / Sq Ft |
| 05/17/2024 05/17/24 | Price Changed | $1,815 | +0.3% | $3 / Sq Ft |
| 05/15/2024 05/15/24 | Price Changed | $1,810 | +0.8% | $3 / Sq Ft |
| 05/14/2024 05/14/24 | Price Changed | $1,795 | -1.1% | $3 / Sq Ft |
| 05/10/2024 05/10/24 | Price Changed | $1,815 | +1.1% | $3 / Sq Ft |
| 05/02/2024 05/02/24 | Price Changed | $1,795 | -1.6% | $3 / Sq Ft |
| 04/23/2024 04/23/24 | Price Changed | $1,825 | +8.3% | $3 / Sq Ft |
| 04/02/2024 04/02/24 | Price Changed | $1,685 | -3.7% | $3 / Sq Ft |
| 03/19/2024 03/19/24 | Price Changed | $1,750 | -3.6% | $3 / Sq Ft |
| 03/05/2024 03/05/24 | Price Changed | $1,815 | +3.7% | $3 / Sq Ft |
| 02/20/2024 02/20/24 | Price Changed | $1,750 | +2.9% | $3 / Sq Ft |
| 02/02/2024 02/02/24 | Price Changed | $1,700 | -2.9% | $3 / Sq Ft |
| 01/31/2024 01/31/24 | Price Changed | $1,750 | +1.4% | $3 / Sq Ft |
| 01/26/2024 01/26/24 | Price Changed | $1,725 | +3.0% | $3 / Sq Ft |
| 11/02/2023 11/02/23 | Price Changed | $1,675 | -6.2% | $3 / Sq Ft |
| 08/07/2023 08/07/23 | For Rent | $1,785 | 0.0% | -- |
| 07/01/2023 07/01/23 | For Rent | $1,785 | 0.0% | -- |
| 06/14/2023 06/14/23 | For Rent | $1,785 | 0.0% | -- |
| 02/18/2023 02/18/23 | Price Changed | $1,785 | -6.5% | $3 / Sq Ft |
| 01/10/2023 01/10/23 | Price Changed | $1,910 | +12.7% | $3 / Sq Ft |
| 01/05/2023 01/05/23 | For Rent | $1,695 | -- | -- |
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: CV25148329
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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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