1789 Seventh St

Riverside, CA 92507

$6,150,000
Last Sold Price
3
Beds
52
Baths
19,800 Sq. Ft.
$311 / Sq. Ft.
19,800
Sq. Ft.
$311
per Sq. Ft.
Get preapproved with Rocket Mortgage1
Closed 5/16/24
Closed 5/16/24
a view of a city with tall buildings

Description

We are pleased to present the opportunity to acquire Sandra's Apartments located at 1789 7th Street in the city of Riverside. The property building size totals ± 19,800 SF and is situated on a well-maintained ± 30,928 square feet lot. Sandra's Apartments are conveniently located minutes away from Downtown Riverside and its cross streets are Chicago Avenue and Ottawa Avenue. The property offers convenient access to the University of California, Riverside, the Downtown Metrolink rail station, pharmacies,...We are pleased to present the opportunity to acquire Sandra's Apartments located at 1789 7th Street in the city of Riverside. The property building size totals ± 19,800 SF and is situated on a well-maintained ± 30,928 square feet lot. Sandra's Apartments are conveniently located minutes away from Downtown Riverside and its cross streets are Chicago Avenue and Ottawa Avenue. The property offers convenient access to the University of California, Riverside, the Downtown Metrolink rail station, pharmacies, markets, banks, restaurants, and other popular retailers all within a short distance. Sandra's Apartments feature mature landscaping with a gated pool and courtyard. The property also has secured gated entry, on-site laundry facility, tuck-under parking, surface vehicle parking, and ample street parking. The units feature fully equipped kitchens with appliances, wood-looking vinyl plank and tile flooring, ceiling fans, vertical blinds, and wall air conditioning and heating. The property offers convenient access to the 91, 15, 215 and 60 freeways connecting to San Bernardino, Orange, and Los Angeles Counties. Neighboring cities include Moreno Valley, Corona and San Bernardino. Significant local landmarks within a 20-mile radius include: Castle Amusement Park, Riverside Art Museum, Fox Performing Arts Center, the Galleria at Tyler, Fairmount Park, Mount Rubidoux Park, Riverside Municipal Auditorium, UC Riverside Botanic Gardens and the historic Mission Inn Hotel & Spa. The Sandra's Apartments is a prime Riverside income-producing property and a great long-term investment. The property offers stability for any type of investor whether it may be a first-time purchaser, seasoned investor, or those seeking a 1031 exchange opportunity.
  1. Listed by ERIC CHEN • DRE #01489184 • Brokerage DRE #00409987 • CB RICHARD ELLIS • 626-757-5717

Property Details for 1789 Seventh Street

Parking Spaces Total
27
Private Pool
No
Cooling Type
Wall/Window Unit(s)
Total Units
27.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
19800
Assessor Parcel Number
211-181-017
LISTING CLOSED: 05/16/2024 12:00 AM

Property Details for 1789 Seventh Street

StatusClosed
MLS #CV24032554
Days on Market28
Pet Policy-
Taxes-
HOA Fees-
Condo/Co-op Fees-
Property TypeMulti Family
MLS TypeResidential Income / Res Income 2-4 Units
Year Built1966
CountyRiverside County
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Location

Listing Courtesy of CB RICHARD ELLIS, ERIC CHEN, DRE #01489184

Sold By CB RICHARD ELLIS, ERIC CHEN, DRE #01489184

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Building Information for 1789 Seventh Street

Building/Complex1789 Seventh StFloor-Stories2Residences-Pet Policy-Pet Policy Details-Year Built1966Building Size-

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$36,521 per month

30 year fixed, 6.36% Interest

Principal and Interest

$30,646

Property Taxes

$5,875

HOA Dues

$0

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Property Information for 1789 Seventh Street

Income / Expense / Tax Details
Income Details
  • Gross Income: $440,100
  • Gross Scheduled Income: $440,100
  • Vacancy Allowance: 17406
  • Gross Operating Income: $422,496
  • Net Operating Income: $265,389
  • Gross Multiplier: 14.77
  • Cap Rate: 4.08
  • Financing: Cash
Expense Details
  • Operating Expense: $157,107
  • New Taxes Expense: $73,084
  • Fuel Expense: $8,106
  • Electric Expense: $4,827
  • Insurance Expense: $9,384
  • Maintenance Expense: $12,675
  • Professional Management Expense: $28,900
  • Other Expense: $6,750
  • Other Expense Description: Reserves
  • Trash Expense: $8,556
  • Water Sewer Expense: $4,826
  • Total Expenses: $157,107
Tax / Assessment Info
  • Tax Tract Number: 030503
  • Tax Census Tract: 305.03
  • CFD/Mello-Roos Fee: $852
  • Tax Lot: 29
Community / Development
Community / Development
  • Community Features: Curbs, Sidewalks
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Common Area
  • Cooling: Wall/Window Unit(s)
  • Heating Type: Wall Furnace
  • Heating: Wall Furnace
Exterior Features
  • Entry Location: 1
  • Pool Features: Community
  • Pool: Community/Common
  • Pool Heat: Community/Common
  • Spa Features: None
  • Spa Heat: N/K
Land/Lot Info
  • Lot Features: 26-30 Units/Acre
  • Number Of Units: 27
  • Land Lease: No
  • Land Lease Type: Fee
  • Levels: Two
  • Water: Public
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 2
  • Uncovered Spaces: 5
  • Open Other Spaces Total: 5
  • Parking Garage Spaces: 2
  • Carport Spaces: 20
Property / Structure Info
  • Residential Styles: Res Income 2-4 Units
Unit Information
Unit 1
  • Unit Type Units Total: 2
  • Unit Type Beds Total: 0
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $772
  • Unit Type Total Rent: $18,528
  • Unit Type Pro Forma: 1600
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 8
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,243
  • Unit Type Total Rent: $119,304
  • Unit Type Pro Forma: 1800
  • Unit Type Type: 2
Unit 3
  • Unit Type Units Total: 17
  • 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: $1,465
  • Unit Type Total Rent: $298,908
  • Unit Type Pro Forma: 2200
  • Unit Type Type: 3
Unit Information
  • Number Of Units Leased: 27
  • Rent Controlled: Yes
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 27
  • Number Of Separate Gas Meters: 27
  • Number Of Separate Water Meters: 1

Property History for 1789 Seventh Street

DateEvent & SourcePriceAppreciation
May 16, 2024

Sold

SDMLS #CV24032554

$6,150,000—
May 16, 2024

Sold

CRMLS #CV24032554

$6,150,000—
May 16, 2024

Sold

CLAW #CV24032554MR

$6,150,000—
DateEvent & SourcePrice
05/16/2024

Sold

SDMLS #CV24032554

$6,150,000
05/16/2024

Sold

CRMLS #CV24032554

$6,150,000
05/16/2024

Sold

CLAW #CV24032554MR

$6,150,000

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

Public Records for 1789 Seventh Street

Taxable ValueLand$790,500Additions$5,485,500Total$6,276,000
Tax Record2025$70,498 ($5,875 / month)
Home Facts
Total Finished SqFt21,344 SqFtAbove Grade Finished SqFt21,344 SqFtStories2Lot Size30,927 SqFtStyleMulti-Family Res (5+ Units)Year Built1964ZoningR3CountyRIVERSIDEAPN211-181-017

Schools near 1789 Seventh Street

This home is within Riverside Unified School District.
Rating
School
Type
Grades
Distance
William Howard Taft 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
William Howard Taft 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 CB RICHARD ELLIS, ERIC CHEN, DRE #01489184

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.