1170 Tripoli Street

Closed 3/7/19

Last Sold Price

$5,700,000

3 beds51 baths26,975 sqft$211/sqft

1170 Tripoli St, Riverside, CA 92507

Description

Highland Parc Apartment Homes is a boutique apartment complex that caters to the large student population from the adjacent University of California, Riverside which is approximately one-half mile away. The property features 31 units (30 plus 1 non-conforming) that boasts large floor plans, competitive amenities with residents on one-year leases. The very popular unit mix of 11 - one bedroom/one bathroom plus a den units (725 S. F.) and 20 - two bedroom/two bathroom plus a den units (950 S. F.) allow...Highland Parc Apartment Homes is a boutique apartment complex that caters to the large student population from the adjacent University of California, Riverside which is approximately one-half mile away. The property features 31 units (30 plus 1 non-conforming) that boasts large floor plans, competitive amenities with residents on one-year leases. The very popular unit mix of 11 - one bedroom/one bathroom plus a den units (725 S. F.) and 20 - two bedroom/two bathroom plus a den units (950 S. F.) allow for ample bedroom and living space. Approximately 21 apartment units were upgraded with faux wood flooring, re-glazed counter tops, new cabinet faces, new plumbing fixtures, black dishwashers, range/ovens, refrigerators and bathroom sinks. The units are individually metered for gas and electricity and there is a swimming pool, laundry room, 11 garages and 16 carport parking spaces. Please call or email for a full Offering Memorandum and please do not speak with tenants or manager.

LISTING CLOSED: 03/07/2019 12:00 AM

Listed by DOUGLAS MCCAULEY • DRE #01155706 • Brokerage DRE #00530854 • MARCUS & MILLICHAP
Listed by DAVID COVARRUBIAS • DRE #01941403 • Brokerage DRE #00530854 • MARCUS & MILLICHAP

Property Details for 1170 Tripoli Street

Status

Closed

MLS #

CV18248939

Days on Market

Taxes

HOA Fees

Condo/Co-op Fees

Property Type

Multi Family

MLS Type

Residential Income

Year Built

1964

Lot Size

0.78 AC / 33,976 SF

County

Riverside County

Parking Spaces Total

Private Pool

Total Units

31.0

Building Type

Attached

Lot Size Source

Estimated

Living Area

26975

Assessor Parcel Number

250-212-005

Property Attached YN

true

Common Walls

2+ Common Walls

New Construction

Average Studio Area Units

Square Feet

Average 1 Bed Area

725

Average 1 Bed Area Units

Square Feet

Average 2 Bed Area

950

Average 2 Bed Area Units

Square Feet

Average 3 Bed Area Units

Square Feet

Building Area Total

26975

Building Area Units

Square Feet

Stories Total

Pool

Association

Association Fee

$.00

Senior Community

Parcel Number

250212005

Area

Riverside (252)

Directions

East of Iowa Avenue and North of Linden Street

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Location

Listing Courtesy of MARCUS & MILLICHAP, DOUGLAS MCCAULEY, DRE #01155706; MARCUS & MILLICHAP, DAVID COVARRUBIAS, DRE #01941403

Sold By MARCUS & MILLICHAP, DAVID COVARRUBIAS, DRE #01941403; MARCUS & MILLICHAP, DOUGLAS MCCAULEY, DRE #01155706

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Building Information for 1170 Tripoli Street

Stories2Residences-Year Built1964Building Size-Lot Size0.78 AC / 33,976 SF

Payment Calculator

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OriginPoint Mortgage or Rocket Mortgage¹

$34,937 per month

30 year fixed, 6.55% Interest

Principal and Interest

$28,972

Property Taxes

$5,965

HOA Dues

The Payment Calculator is for illustrative purposes only.

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Property Information for 1170 Tripoli Street

Rental Info

Tenant Pays: Electricity, Gas

Income / Expense / Tax Details

Income Details

Gross Income: $504,660
Gross Scheduled Income: $504,660

Vacancy Allowance Rate: 4
Gross Operating Income: $484,473
Net Operating Income: $313,869
Laundry Income: $4,000
Gross Multiplier: 11.49
Cap Rate: 5.41

Expense Details

Operating Expense: $174,604
New Taxes Expense: $63,385

Gardener Expense: $2,400
Fuel Expense: $5,000
Licenses Expense: $2,000
Pest Control Expense: $900
Pool Expense: $2,050
Electric Expense: $5,000
Insurance Expense: $7,524
Maintenance Expense: $30,000
Professional Management Expense: $45,680
Other Expense: $3,772
Trash Expense: $3,000
Water Sewer Expense: $5,000
Total Expenses: $174,604

Tax / Assessment Info

Tax Tract Number: 1
Tax Lot: 1

Community / Development

Community Features: Street Lights

Property / Structure Info

Interior Features

Laundry: Yes
Laundry Features: Community

Exterior Features

Pool Features: Community
Pool Description: Community

Land/Lot Info

Lot Features: Lot 20000-39999 Sqft
Number Of Units: 31

Land Lease: No
Land Lease Type: Fee
Sewer: Public Sewer
Water Source: Public

Parking Info

Garage Spaces: 11
Parking Garage Spaces: 11

Carport Spaces: 16

Unit Information

Unit 1

Unit Type Units Total: 11
Unit Type Beds Total: 1

Unit Type Baths Total: 1
Unit Type Furnished: Unfurnished
Unit Type Garage Spaces: 0
Unit Type Garage Attached: No
Unit Type Actual Rent: $1,220
Unit Type Total Rent: $13,420
Unit Type Pro Forma: 1275
Unit Type Type: 1

Unit 2

Unit Type Units Total: 20
Unit Type Beds Total: 2

Unit Type Baths Total: 2
Unit Type Furnished: Unfurnished
Unit Type Garage Spaces: 0
Unit Type Garage Attached: No
Unit Type Actual Rent: $1,433
Unit Type Total Rent: $28,660
Unit Type Pro Forma: 1575
Unit Type Type: 2

Unit Information

Number Of Units Leased: 31
Rent Controlled: No

Number Of Buildings: 5
Number Of Separate Electric Meters: 32
Number Of Separate Gas Meters: 32
Number Of Separate Water Meters: 1
Number With Dishwasher: 31
Number With Range: 31
Number With Refrigerator: 31

Property History for 1170 Tripoli Street

Date	Event & Source	Price	Appreciation
Mar 7, 2019	Sold CRMLS #CV18248939	$5,700,000	—
Mar 7, 2019	Sold CLAW #CV18248939MR	$5,700,000	—
Dec 24, 2018	Sold (Public Record) Public Record #640447823	$5,700,000	+13.1% / yr
Dec 12, 2018	Pending CLAW #CV18248939MR		—
Dec 12, 2018	Pending CRMLS #CV18248939		—
Oct 12, 2018	Listed (Active) CLAW #CV18248939MR	$5,799,000	—
Oct 12, 2018	Listed (Active) CRMLS #CV18248939	$5,799,000	—
Jan 6, 2015	Sold (Public Record) Public Record #488844956	$3,500,000	+9.6% / yr
May 6, 2011	Sold (Public Record) Public Record #309569531	$2,500,000	—

Date	Event & Source	Price
03/07/2019	Sold CRMLS #CV18248939	$5,700,000
03/07/2019	Sold CLAW #CV18248939MR	$5,700,000
12/24/2018	Sold (Public Record) Public Record #640447823	$5,700,000 +13.1% / yr
12/12/2018	Pending CLAW #CV18248939MR	—
12/12/2018	Pending CRMLS #CV18248939	—
10/12/2018	Listed (Active) CLAW #CV18248939MR	$5,799,000
10/12/2018	Listed (Active) CRMLS #CV18248939	$5,799,000
01/06/2015	Sold (Public Record) Public Record #488844956	$3,500,000 +9.6% / yr
05/06/2011	Sold (Public Record) Public Record #309569531	$2,500,000

For completeness, we often displays two records for one sale: the MLS record and the public record.

Public Records for 1170 Tripoli Street

Taxable ValueLand$796,478Additions$5,689,144Total$6,485,622

Tax Record2025$71,577 ($5,965 / month)

Home Facts

Total Finished SqFt28,428 SqFtAbove Grade Finished SqFt28,428 SqFtStories2Lot Size33,977 SqFtStyleMulti-Family Res (5+ Units)Year Built1964Year Renovated1964ZoningR3CountyRIVERSIDEAPN250-212-005

Schools near 1170 Tripoli Street

This home is within Riverside Unified School District.


Rating	School	Type	Grades	Distance
4/10	Highland Elementary School	Public - Serves this home	K to 6	0.7 mi
5/10	University Heights Middle School	Public - Serves this home	7 to 8	0.5 mi
5/10	John W. North High School	Public - Serves this home	9 to 12	0.5 mi
6/10	REACH Leadership STEAM Academy	Charter - Choice school	K to 6	0.2 mi
9/10	Riverside STEM Academy	Public - Choice school	5 to 12	1.6 mi
2/10	Abraham Lincoln Continuation School	Public - Choice school	9 to 12	1.8 mi
NR	Islamic Academy Of Riverside	Private - Nearby school	PK to 8	0.2 mi


Rating	School	Distance
4/10	Highland Elementary School PublicK to 6 Serves this home	0.7 mi
5/10	University Heights Middle School Public7 to 8 Serves this home	0.5 mi
5/10	John W. North High School Public9 to 12 Serves this home	0.5 mi
6/10	REACH Leadership STEAM Academy CharterK to 6 Choice school	0.2 mi
9/10	Riverside STEM Academy Public5 to 12 Choice school	1.6 mi
2/10	Abraham Lincoln Continuation School Public9 to 12 Choice school	1.8 mi
NR	Islamic Academy Of Riverside PrivatePK to 8 Nearby school	0.2 mi

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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Nearby home values

Address	Sold price	Beds	Baths	Sqft	Lot (Sqft)
This home: 1170 Tripoli Street, Riverside, CA 92507	$5,700,000	3	51	26,975	33,976
1156 Tripoli Street, Riverside, CA 92507	–	–	–	5,022	10,019
1177 West Linden Street, Riverside, CA 92507	$2,850,000	16	42	22,561	23,014
3465 Edinburgh Avenue, Riverside, CA 92507	–	–	–	6,512	12,197
1144 Tripoli Street, Riverside, CA 92507	–	–	–	5,022	10,454
3447 Edinburgh Avenue, Riverside, CA 92507	–	–	–	6,512	12,197
1147 West Linden Street, Riverside, CA 92507	–	–	–	16,589	15,682
3464 Edinburgh Avenue, Riverside, CA 92507	–	–	–	5,505	11,761
1130 Tripoli Street, Riverside, CA 92507	–	–	–	–	9,583
3429 Edinburgh Avenue, Riverside, CA 92507	–	–	–	6,512	12,197
1118 Tripoli Street, Riverside, CA 92507	–	–	–	5,022	10,454
1117 West Linden Street, Riverside, CA 92507	$2,850,000	19	40	22,339	24,159
3411 Edinburgh Avenue, Riverside, CA 92507	–	–	–	6,512	12,632
3428 Edinburgh Avenue, Riverside, CA 92507	–	–	–	6,512	5,227
1110 Tripoli Street, Riverside, CA 92507	–	–	–	4,294	10,454
1120 West Linden Street, Riverside, CA 92507	–	–	–	49,202	449,104

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Listing Courtesy of MARCUS & MILLICHAP, DOUGLAS MCCAULEY, DRE #01155706; MARCUS & MILLICHAP, DAVID COVARRUBIAS, DRE #01941403

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.

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