1170 Tripoli Street

Closed 3/7/19
Closed 3/7/19
Gallery Image 1
Sold
Last Sold Price
$5,700,000
3 beds51 baths26,975 sqft$211/sqft
1170 Tripoli St, Riverside, CA 92507
Multi FamilyProperty Type
0.78 acresLot Size
1964Year Built
$211/sq ftPrice per sq ft
27 carsParking Spaces

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.
  • Listed by: DOUGLAS MCCAULEY DRE #01155706 Brokerage DRE #00530854 • MARCUS & MILLICHAP
  • Listed by: DAVID COVARRUBIAS DRE #01941403 Brokerage DRE #00530854 • MARCUS & MILLICHAP
Listing closed: 03/07/2019 12:00 AM • Source: CRMLS, MLS#: CV18248939
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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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$34,937 per month

30 year fixed, 6.55% Interest

Principal and Interest

$28,972

Property Taxes

$5,965

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Property Information for 1170 Tripoli Street

Property Details
  • MLS Type: Residential Income
  • County: Riverside County
  • Parking Spaces Total: 27
  • Private Pool: No
  • 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: No
  • 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: 2
  • Pool: No
  • Association: No
  • Association Fee: $.00
  • Senior Community: No
  • Parcel Number: 250212005
  • Area: Riverside (252)
  • Directions: East of Iowa Avenue and North of Linden Street
Building Information
  • Stories: 2
  • Year Built: 1964
  • Lot Size: 0.78 AC / 33,976 SF
Rental Info
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 / 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

DateEvent & SourcePriceAppreciation
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

DateEvent & SourcePrice
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

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
Highland Elementary School
Public - K to 6
University Heights Middle School
Public - 7 to 8
John W. North High School
Public - 9 to 12
REACH Leadership STEAM Academy
Charter - K to 6
Rating
School
Distance
Highland Elementary School
PublicK to 6

University Heights Middle School
Public7 to 8

John W. North High School
Public9 to 12

REACH Leadership STEAM Academy
CharterK to 6

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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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of any information, descriptions or measurements (including square footage measurements and property condition), such should be independently verified through appropriate means, including, but not limited to, in person inspection and public records, and Compass International Holdings, its subsidiaries, affiliates and independently owned and operated franchisees, and their affiliated agents and associated third parties expressly disclaim any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the seller's discretion. No financial or legal advice provided. Equal Housing Opportunity.

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.