1480 Seventh St
Description
22,798 of rentable square feet and is in good condition
since the current ownership has made several recent
signi? cant renovations to the interiors & exteriors. The balanced unit mix consists of 3 bedroom, 2
bedroom, and 1 bedroom units. The property is
situated on approximately 0.82 acres of land that
include tuck under parking, open on-site
parking in addition to the street parking. The property
is also separately metered for gas and electric...Built in 1977, The Normandy Apartments consist of approximately
22,798 of rentable square feet and is in good condition
since the current ownership has made several recent
signi? cant renovations to the interiors & exteriors. The balanced unit mix consists of 3 bedroom, 2
bedroom, and 1 bedroom units. The property is
situated on approximately 0.82 acres of land that
include tuck under parking, open on-site
parking in addition to the street parking. The property
is also separately metered for gas and electric with
a community laundry rooms & sparkling pool. 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 10% realistic
rental upside.
- Listed by Jonathan Mitchell • DRE #01227852 • Brokerage DRE #01946490 • Kidder Mathews of California, Inc • 949-557-5000
Property Details for 1480 Seventh Street
Property Details for 1480 Seventh Street
| Status | Active |
|---|---|
| MLS # | OC26008212 |
| Days on Market | 8 |
| Taxes | - |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Multi Family |
| MLS Type | Residential Income / Res Income 2-4 Units |
| Year Built | 1971 |
| County | Riverside County |
Location
Building Information for 1480 Seventh Street
Payment Calculator
$32,954 per month
30 year fixed, 6.15% Interest
$29,219
$3,735
$0
Property Information for 1480 Seventh Street
- Tenant Pays: Cable TV, Electricity, Gas
- Gross Income: $1,488
- Gross Scheduled Income: $554,772
- Gross Spendable Income: $320,669
- Vacancy Allowance: 16643
- Vacancy Allowance Rate: 3
- Gross Operating Income: $546,475
- Net Operating Income: $320,669
- Number Of Rented Garages: 0
- Garage Income: $0
- Laundry Income: $1,488
- Gross Multiplier: 10.8
- Cap Rate: 5.4
- Operating Expense: $255,806
- Operating Expense Percent: 42.00%
- New Taxes Expense: $66,989
- Gardener Expense: $6,149
- Pest Control Expense: $1,259
- Pool Expense: $17,001
- Electric Expense: $3,649
- Insurance Expense: $13,208
- Maintenance Expense: $25,000
- Professional Management Expense: $54,350
- Other Expense: $20,841
- Other Expense Description: Misc.
- Trash Expense: $7,372
- Water Sewer Expense: $9,783
- Total Expenses: $225,806
- Tax Tract Number: 0
- CFD/Mello-Roos Fee: $879
- Tax Lot: 59
- Community Features: Biking, Foothills
- Laundry: Yes
- Laundry Features: Common Area, Community
- Laundry Equipment Own Lease: Lease
- Fireplace Features: None
- Fireplace Rooms: None
- Heating Type: None
- Heating: None
- Heat Equipment: N/K
- Entry Location: Street
- Pool Features: Community
- Pool: Community/Common
- Pool Heat: Community/Common
- Lot Features: 21-25 Units/Acre
- Number Of Units: 25
- Land Lease: No
- Land Lease Type: Fee
- Levels: Two
- Water: Public
- Sewer: Public Sewer
- Water Source: Public
- Garage Spaces: 25
- Parking: Yes
- Parking Garage: Assigned
- Uncovered Spaces: 25
- Open Other Spaces Total: 25
- Parking Garage Spaces: 25
- Carport Spaces: 0
- Parking Features: Assigned
- Residential Styles: Res Income 2-4 Units
- Unit Type Units Total: 1
- Unit Type Beds Total: 3
- Unit Type Baths Total: 1
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 1
- Unit Type Garage Attached: No
- Unit Type Actual Rent: $2,010
- Unit Type Total Rent: $2,010
- Unit Type Pro Forma: 2295
- Unit Type Type: 1
- Unit Type Units Total: 22
- Unit Type Beds Total: 2
- Unit Type Baths Total: 1
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 1
- Unit Type Garage Attached: No
- Unit Type Actual Rent: $1,867
- Unit Type Total Rent: $41,074
- Unit Type Pro Forma: 2150
- Unit Type Type: 2
- Unit Type Units Total: 2
- Unit Type Beds Total: 1
- Unit Type Baths Total: 1
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 1
- Unit Type Garage Attached: No
- Unit Type Actual Rent: $1,576
- Unit Type Total Rent: $3,152
- Unit Type Pro Forma: 1695
- Unit Type Type: 3
- Number Of Units Leased: 25
- Rent Controlled: Yes
- Number Of Buildings: 1
- Number Of Separate Electric Meters: 25
- Number Of Separate Gas Meters: 25
- Number Of Separate Water Meters: 1
- Number With Range: 25
- Number With Disposal: 25
- Number Wall AC: 25
Property History for 1480 Seventh Street
| Date | Event & Source | Price | Appreciation |
|---|---|---|---|
| Jan 13, 2026 | Listed (Active) CRMLS #OC26008212 | $5,995,000 | — |
| Jan 9, 2026 | Listed (Active) SDMLS #OC26008212 | $5,995,000 | — |
| Jan 9, 2026 | Listed (Active) CLAW #OC26008212MR | $5,995,000 | — |
| Jan 4, 2025 | Expired CRMLS #OC24233882 | — | |
| Jan 3, 2025 | Expired SDMLS #OC24233882 | $5,150,000 | — |
| Jan 3, 2025 | Expired CLAW #OC24233882MR | $5,150,000 | — |
| Nov 14, 2024 | Listed (Active) CRMLS #OC24233882 | $5,150,000 | — |
| Nov 11, 2024 | Listed (Active) CLAW #OC24233882MR | $5,150,000 | — |
| Nov 11, 2024 | Listed (Active) SDMLS #OC24233882 | $5,150,000 | — |
| Apr 22, 2019 | Sold (Public Record) Public Record #644519832 | $3,550,000 | +8.8% / yr |
| Jul 22, 2011 | Sold (Public Record) Public Record #313279759 | $1,850,000 | — |
| Date | Event & Source | Price |
|---|---|---|
| 01/13/2026 | Listed (Active) CRMLS #OC26008212 | $5,995,000 |
| 01/09/2026 | Listed (Active) SDMLS #OC26008212 | $5,995,000 |
| 01/09/2026 | Listed (Active) CLAW #OC26008212MR | $5,995,000 |
| 01/04/2025 | Expired CRMLS #OC24233882 | — |
| 01/03/2025 | Expired SDMLS #OC24233882 | $5,150,000 |
| 01/03/2025 | Expired CLAW #OC24233882MR | $5,150,000 |
| 11/14/2024 | Listed (Active) CRMLS #OC24233882 | $5,150,000 |
| 11/11/2024 | Listed (Active) CLAW #OC24233882MR | $5,150,000 |
| 11/11/2024 | Listed (Active) SDMLS #OC24233882 | $5,150,000 |
| 04/22/2019 | Sold (Public Record) Public Record #644519832 | $3,550,000 +8.8% / yr |
| 07/22/2011 | Sold (Public Record) Public Record #313279759 | $1,850,000 |
For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 1480 Seventh Street
Schools near 1480 Seventh Street
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | K to 6 | |||
| Public - | 7 to 8 | |||
| Public - | 9 to 12 | |||
| Public - | 9 to 12 |
Rating | School | Distance |
|---|---|---|
Longfellow Elementary School PublicK to 6 | ||
University Heights Middle School Public7 to 8 | ||
John W. North High School Public9 to 12 | ||
Abraham Lincoln Continuation School Public9 to 12 |
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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Listing Courtesy of Kidder Mathews of California, Inc, Jonathan Mitchell, DRE #01227852
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.