3575 Ottawa Avenue

Closed 2/15/16
Closed 2/15/16
Gallery Image 1
Sold
Last Sold Price
$1,100,000
3 beds10 baths6,970 sqft$158/sqft
3575 Ottawa Ave, Riverside, CA 92507
Multi FamilyProperty Type
0.55 acresLot Size
1954Year Built
$158/sq ftPrice per sq ft
15 carsParking Spaces

Description

Highlights; Competitive Offering CAP Rate of 6.01 % With a ProForma CAP Rate of 6.42 %, Competitive Offering GRM of 10.77 With a ProForma GRM of 10.39, New Vinyl Windows, Tuck Under Garages, Conservative 10% Upside In Potential Rental Income Per Rental Survey, 100 % Occupied Asset, Rental Comparables Illustrate a 98 % Occupancy Area. The Ottawa Street Apartment is situated on a corner lot totaling 24,000 Sq. Ft. This ten unit apartment community is composed of 5 one bedroom / one bathroom units &...Highlights; Competitive Offering CAP Rate of 6.01 % With a ProForma CAP Rate of 6.42 %, Competitive Offering GRM of 10.77 With a ProForma GRM of 10.39, New Vinyl Windows, Tuck Under Garages, Conservative 10% Upside In Potential Rental Income Per Rental Survey, 100 % Occupied Asset, Rental Comparables Illustrate a 98 % Occupancy Area. The Ottawa Street Apartment is situated on a corner lot totaling 24,000 Sq. Ft. This ten unit apartment community is composed of 5 one bedroom / one bathroom units & 5 two bedroom / one bathroom units. The property has been updated throughout the years, recent improvements include new vinyl windows throughout. The current tenants are long term & the building is 100% occupied. In the heart of the City of Riverside, the property is ideally located, one block north of University Avenue, which represents a main thoroughfare between Historic Downtown Riverside, Riverside Community College and The University of California Riverside. University Avenue has been an emphasis of development, with new retail and office spaces steadily moving east, towards Downtown. With initiatives by the City to implement street cars running from Downtown to the UCR Campus, a train station in the neighborhood is also expected in the near future.
  • Listed by: ALBERT LE DRE #01468313 • LE INVESTMENT GROUP
Listing closed: 02/15/2016 12:00 AM • Source: CRMLS, MLS#: IV15248158
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Location

Listing Courtesy of LE INVESTMENT GROUP, ALBERT LE, DRE #01468313

Sold By Keller Williams Encino-Sherman Oaks, Anie Mayelian, DRE #00778825

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$6,812 per month

30 year fixed, 6.55% Interest

Principal and Interest

$5,591

Property Taxes

$1,221

HOA Dues

$0

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Property Information for 3575 Ottawa Avenue

Property Details
  • MLS Type: Residential Income
  • County: Riverside County
  • Parking Spaces Total: 15
  • Private Pool: No
  • Total Units: 10.0
  • Building Type: Attached
  • Lot Size Source: Assessor
  • Living Area: 6970
  • Assessor Parcel Number: 211-153-006
  • Property Attached YN: true
  • Common Walls: 2+ Common Walls
  • Average 1 Bed Area: 700
  • Average 2 Bed Area: 987
  • Building Area Total: 6970
  • Pool: No
  • Parcel Number: 211153006
  • Area: Riverside (252)
Building Information
  • Stories: 2
  • Year Built: 1954
  • Lot Size: 0.55 AC / 24,000 SF
Income / Expense / Tax Details
Income Details
  • Gross Income: $8,820
  • Gross Scheduled Income: $105,840
  • Vacancy Allowance: 3250
  • Vacancy Allowance Rate: 3
  • Net Operating Income: $70,651
  • Gross Multiplier: 10.39
  • Cap Rate: 6.42
Expense Details
  • Operating Expense: $34,439
  • New Taxes Expense: $12,100
  • Gardener Expense: $600
  • Licenses Expense: $147
  • Pest Control Expense: $300
  • Electric Expense: $1,767
  • Insurance Expense: $2,674
  • Maintenance Expense: $4,800
  • Maintenance Percent: 7.00%
  • Professional Management Expense: $4,000
  • Trash Expense: $1,584
  • Water Sewer Expense: $2,703
  • Supplies Expense: $600
Tax / Assessment Info
  • Tax Tract Number: 153
  • Tax Lot: 6
Community / Development
Community / Development
  • Community Features: Curbs, Sidewalks, Street Lights, Storm Drains
Property / Structure Info
Exterior Features
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
Land/Lot Info
  • Lot Features: 11-15 Units/Acre
  • Number Of Units: 10
  • Levels: Two
  • Water: Meter on Property
  • Sewer: In Connected and Paid
  • Utilities: Sewer Connected
  • Water Source: Public
Parking Info
  • Garage Spaces: 5
  • Parking Garage Spaces: 5
  • Carport Spaces: 0
Unit Information
Unit 1
  • Unit Type Units Total: 5
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $820
  • Unit Type Total Rent: $4,000
  • Unit Type Pro Forma: 825
  • Unit Type Area Units: Square Feet
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 5
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 5
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $1,000
  • Unit Type Total Rent: $4,820
  • Unit Type Pro Forma: 1000
  • Unit Type Area Units: Square Feet
  • Unit Type Type: 2
Unit Information
  • Rent Controlled: No
  • Number Of Buildings: 2
  • Number Of Separate Electric Meters: 10
  • Number Of Separate Gas Meters: 1
  • Number Of Separate Water Meters: 10

Property History for 3575 Ottawa Avenue

DateEvent & SourcePriceAppreciation
Feb 15, 2016

Sold

SDMLS #IV15248158

$1,100,000—
Feb 15, 2016

Sold

CRMLS #IV15248158

$1,100,000—
Feb 15, 2016

Sold

CLAW #IV15248158MR

$1,100,000—
DateEvent & SourcePrice
02/15/2016

Sold

SDMLS #IV15248158

$1,100,000
02/15/2016

Sold

CRMLS #IV15248158

$1,100,000
02/15/2016

Sold

CLAW #IV15248158MR

$1,100,000

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

Public Records for 3575 Ottawa Avenue

Taxable ValueLand$358,824Additions$955,028Total$1,313,852
Tax Record2025$14,656 ($1,221 / month)
Home Facts
Total Finished SqFt6,555 SqFtAbove Grade Finished SqFt6,555 SqFtStories2Lot Size13,939 SqFtStyleMulti-Family Res (5+ Units)Year Built1951Year Renovated1951ZoningR3CountyRIVERSIDEAPN211-153-006

Schools near 3575 Ottawa Avenue

This home is within Riverside Unified School District.
Rating
School
Type
Grades
Distance
Longfellow Elementary School
Public - K to 6
Matthew Gage Middle School
Public - 7 to 8
John W. North High School
Public - 9 to 12
Abraham Lincoln Continuation School
Public - 9 to 12
Rating
School
Distance
Longfellow Elementary School
PublicK to 6

Matthew Gage 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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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 LE INVESTMENT GROUP, ALBERT LE, DRE #01468313

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.