3681 Cranford Avenue, Riverside, CA 92507
- $22,599,000
- List Price
- $22,599,000
- Price Change
- ▼ $1,396,000 1746629790
- Status
- ACTIVE
- MLS#
- OC25062567
- Year Built
- 1965
- Lot Size
- 130,244
- Acres
- 2.99
- Lot Location
- 26-30 Units/Acre, 31-35 Units/Acre
- Days on Market
- 182
- Property Type
- Multifamily
- Property Sub Type
- Apartment
- Stories
- Three Or More Levels
Property Description
Built in 1964 and 1977, the properties consist of approximately 90,000 of rentable square feet, totaling 113 units and is in good condition since the current ownership has made several recent signiant renovations to the interiors & exteriors. The balanced unit mix consists of 3 bedroom, 2 Bedroom, 1 Bedroom & studio units. The property is situated on approximately 4 acres of land that include tuck under parking, carports, open on-site parking recently seismic retrofitted and in addition to the street parking. The property is also separately metered for gas and electric with a community laundry rooms, pools & rental of?ce. Select units have been tastefully remodeled with new ?ooring, windows, cabinets, stove, microwave, countertops, sink, toilet, vanity, shower, AC, recessed lighting, and ceiling fans throughout. Most of the “heavy lifting” is complete and should appeal to an investor looking for a turnkey asset surrounded by tremendous job opportunity and 14% realistic rental upside.
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Additional Information
- Pool Description
- Community
- Heat
- None
- Sewer
- Public Sewer
- Water
- Public
- Attached Structure
- Attached
- Number Of Units Total
- 113
- Gross Scheduled Income
- $2,390,448
- Operating Expense
- 944245
Listing courtesy of Listing Agent: Jonathan Mitchell (jon.mitchell@kidder.com) from Listing Office: Kidder Mathews of California, Inc.
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