3881 5th St
Description
property consists of 4,340 rentable square feet and is comprised of a unit mix of two 2 Bed / 1 Bath, two 1 Bed + Den / 1 Bath and two 1 Bed / 1 bath units. The property is situated on a 0.18- acre lot and includes 4 private garages with street parking also available. The property is separately metered for gas and electric with a community laundry room. The...3881 5th Street is located in the heart & robust rental market of Downtown Riverside, California. Built in 1930 and updated in 2022 & 2023. The
property consists of 4,340 rentable square feet and is comprised of a unit mix of two 2 Bed / 1 Bath, two 1 Bed + Den / 1 Bath and two 1 Bed / 1 bath units. The property is situated on a 0.18- acre lot and includes 4 private garages with street parking also available. The property is separately metered for gas and electric with a community laundry room. The current ownership has renovated all the interiors including a new block wall and gates. Each unit was tastefully remodeled with new flooring, windows, cabinets, stove, microwave, countertops, sink, toilet, vanity, shower, AC, recessed lighting and ceiling fans throughout. The “heavy lifting” is complete and should appeal to an investor looking for a bite size, turnkey property located in Downtown Riverside surrounded by tremendous job opportunity within walking distance for the tenants to choose from. Riverside is in the county seat of Riverside County; California and it is the most populous in the county. The United States Census Bureau estimated its 2019 population at 325,000, making Riverside the 12th most-populous city in California. Riverside is in Southern California, adjacent to the 60, 91 & 215 freeways and 38 miles to Disneyland, 69 miles to LAX Airport and 54 miles to Palm Springs . Founded in 1883, the city is part of the Greater Los Angeles Area, the second largest metropolitan area in the United States, with almost 18 million residents in 2020. Downtown Riverside is a very densely populated area consisting of Luxury Hotel, Office, Retail, restaurants and entertainment all within walking distance of the subject property. The local apartment market in the city of Riverside remains strong, and thus this property offers an investor the ability to capture quality residents seeking a well-located neighborhood with convenient access to a wide variety of employment opportunities, retail, transportation and educational amenities. The overall demand for well-located apartments will be a key driver in the continued growth in Riverside, California.
- Listed by Mark Bridge • DRE #01316702 • Brokerage DRE #01316702 • Mark Bridge, Broker • Mark.Bridge@cushwake.com
Property Details for 3881 5th Street
Property Details for 3881 5th Street
| Status | Closed |
|---|---|
| MLS # | OC23133911 |
| Days on Market | 154 |
| Taxes | - |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Mixed Use |
| MLS Type | Residential Income |
| Year Built | 1938 |
| Lot Size | 0.18 AC / 7,840 SF |
| County | Riverside County |
Location
Sold By Coldwell Banker Alliance, Hannah Johnson, DRE #02163166
Building Information for 3881 5th Street
Payment Calculator
$8,683 per month
30 year fixed, 6.11% Interest
$7,255
$1,428
$0
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1Property Information for 3881 5th Street
- Tenant Pays: Electricity, Gas
- Gross Income: $128,496
- Gross Scheduled Income: $128,496
- Vacancy Allowance: 3855
- Vacancy Allowance Rate: 3
- Gross Operating Income: $126,526
- Net Operating Income: $94,751
- Laundry Income: $600
- Gross Multiplier: 11.63
- Cap Rate: 6.34
- Current Financing: None
- Financing: Cash
- Operating Expense: $31,775
- New Taxes Expense: $15,989
- Gardener Expense: $1,200
- Fuel Expense: $0
- Electric Expense: $0
- Insurance Expense: $2,200
- Maintenance Expense: $5,000
- Professional Management Expense: $0
- Other Expense: $2,500
- Other Expense Description: Misc
- Trash Expense: $0
- Water Sewer Expense: $4,886
- Total Expenses: $31,775
- Tax Tract Number: 103
- Tax Lot: 213
- Community Features: Curbs, Gutters, Sidewalks, Storm Drains, Street Lights, Suburban
- Appliances: Disposal, Gas Range, Microwave
- Equipment: Community, Microwave
- Interior Features: Ceiling Fan(s), Recessed Lighting
- Laundry: Yes
- Laundry Features: Community
- Fireplace Features: None
- Fireplace Rooms: None
- Cooling: Wall/Window Unit(s)
- Heating Type: Wall Furnace
- Heating: Wall Furnace
- Flooring Type: Vinyl
- Flooring: Vinyl
- Roof: Composition, Shingle
- Entry Location: First
- Fence: Yes
- Fencing: Block
- Pool Features: None
- Pool Description: None
- Spa Features: None
- Lot Features: 6-10 Units/Acre
- Number Of Units: 6
- Land Lease: No
- Land Lease Type: Fee
- Levels: Two
- Water: Public
- Sewer: Public Sewer
- Utilities: Cable Connected, Electricity Connected, Natural Gas Connected, Phone Connected, Sewer Connected, Water Connected
- Electric: Cable Connected, Electricity Connected, Natural Gas Connected, Phone Connected, Sewer Connected, Water Connected
- Water Source: Public
- Garage Spaces: 4
- Parking: Yes
- Parking Garage: Assigned, Garage - 1 Car
- Parking Garage Spaces: 4
- Carport Spaces: 0
- Parking Features: Assigned, Garage - Single Door
- Unit Type Units Total: 2
- Unit Type Beds Total: 2
- Unit Type Baths Total: 1
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 4
- Unit Type Garage Attached: No
- Unit Type Actual Rent: $1,888
- Unit Type Total Rent: $7,550
- Unit Type Pro Forma: 2095
- Unit Type Type: 1
- Unit Type Units Total: 4
- Unit Type Beds Total: 1
- Unit Type Baths Total: 1
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 2
- Unit Type Garage Attached: No
- Unit Type Actual Rent: $1,500
- Unit Type Total Rent: $3,000
- Unit Type Pro Forma: 1650
- Unit Type Type: 2
- Number Of Units Leased: 6
- Rent Controlled: No
- Number Of Buildings: 2
- Number Of Separate Electric Meters: 7
- Number Of Separate Gas Meters: 7
- Number Of Separate Water Meters: 1
- Number With Range: 6
- Number With Disposal: 6
- Number Wall AC: 6
Property History for 3881 5th Street
| Date | Event & Source | Price | Appreciation |
|---|---|---|---|
| Feb 20, 2024 | Sold CRMLS #OC23133911 | $1,495,000 | — |
| Feb 20, 2024 | Sold CLAW #OC23133911MR | $1,495,000 | — |
| Feb 6, 2024 | Sold (Public Record) Public Record #1527246478 | $1,495,000 | +9.3% / yr |
| Jan 17, 2024 | Pending CLAW #OC23133911MR | — | |
| Dec 21, 2023 | Listed (Active) CRMLS #OC23133911 | $1,495,000 | — |
| Dec 8, 2023 | Pending CRMLS #OC23133911 | — | |
| Oct 13, 2023 | Price Change CLAW #OC23133911MR | $1,595,000 | — |
| Oct 13, 2023 | Price Change CRMLS #OC23133911 | $1,595,000 | — |
| Aug 2, 2023 | Listed (Active) CRMLS #OC23133911 | $1,695,000 | — |
| Aug 2, 2023 | Listed (Active) CLAW #OC23133911MR | $1,695,000 | — |
| Feb 28, 2022 | Sold SDMLS #NP22007770 | $1,255,000 | — |
| Feb 28, 2022 | Sold CLAW #NP22007770MR | $1,255,000 | — |
| Feb 28, 2022 | Sold CRMLS #NP22007770 | $1,255,000 | — |
| Feb 16, 2022 | Sold (Public Record) Public Record #1484510315 | $1,255,000 | +16.8% / yr |
| Feb 2, 2022 | Accepting Backup Offers CRMLS #NP22007770 | — | |
| Feb 2, 2022 | Pending CLAW #NP22007770MR | — | |
| Feb 2, 2022 | Pending SDMLS #NP22007770 | — | |
| Feb 2, 2022 | Accepting Backup Offers CLAW #NP22007770MR | — | |
| Jan 13, 2022 | Listed (Active) SDMLS #NP22007770 | $1,325,000 | — |
| Jan 13, 2022 | Listed (Active) CLAW #NP22007770MR | $1,325,000 | — |
| Jan 13, 2022 | Listed (Active) CRMLS #NP22007770 | $1,325,000 | — |
| Aug 19, 2020 | Sold CRMLS #AR20058494 | $977,540 | — |
| Aug 19, 2020 | Sold SDMLS #AR20058494 | $977,540 | — |
| Aug 19, 2020 | Sold CLAW #AR20058494MR | $977,540 | — |
| Jul 9, 2020 | Sold (Public Record) Public Record #675685256 | $978,000 | +20.8% / yr |
| May 29, 2020 | Pending CLAW #AR20058494MR | — | |
| May 29, 2020 | Pending SDMLS #AR20058494 | — | |
| May 29, 2020 | Pending CRMLS #AR20058494 | — | |
| Mar 17, 2020 | Listed (Active) SDMLS #AR20058494 | $999,000 | — |
| Mar 17, 2020 | Listed (Active) CRMLS #AR20058494 | $999,000 | — |
| Mar 17, 2020 | Listed (Active) CLAW #AR20058494MR | $999,000 | — |
| Mar 27, 2018 | Sold (Public Record) Public Record #625267176 | $635,000 | — |
| Jul 28, 2014 | Expired CRMLS #IV14040436 | — | |
| Jul 27, 2014 | Expired CLAW #IV14040436MR | — | |
| Jan 27, 2014 | Listed (Active) CLAW #IV14040436MR | $700,000 | — |
| Jan 27, 2014 | Listed (Active) CRMLS #IV14040436 | $700,000 | — |
| Date | Event & Source | Price |
|---|---|---|
| 02/20/2024 | Sold CRMLS #OC23133911 | $1,495,000 |
| 02/20/2024 | Sold CLAW #OC23133911MR | $1,495,000 |
| 02/06/2024 | Sold (Public Record) Public Record #1527246478 | $1,495,000 +9.3% / yr |
| 01/17/2024 | Pending CLAW #OC23133911MR | — |
| 12/21/2023 | Listed (Active) CRMLS #OC23133911 | $1,495,000 |
| 12/08/2023 | Pending CRMLS #OC23133911 | — |
| 10/13/2023 | Price Change CLAW #OC23133911MR | $1,595,000 |
| 10/13/2023 | Price Change CRMLS #OC23133911 | $1,595,000 |
| 08/02/2023 | Listed (Active) CRMLS #OC23133911 | $1,695,000 |
| 08/02/2023 | Listed (Active) CLAW #OC23133911MR | $1,695,000 |
| 02/28/2022 | Sold SDMLS #NP22007770 | $1,255,000 |
| 02/28/2022 | Sold CLAW #NP22007770MR | $1,255,000 |
| 02/28/2022 | Sold CRMLS #NP22007770 | $1,255,000 |
| 02/16/2022 | Sold (Public Record) Public Record #1484510315 | $1,255,000 +16.8% / yr |
| 02/02/2022 | Accepting Backup Offers CRMLS #NP22007770 | — |
| 02/02/2022 | Pending CLAW #NP22007770MR | — |
| 02/02/2022 | Pending SDMLS #NP22007770 | — |
| 02/02/2022 | Accepting Backup Offers CLAW #NP22007770MR | — |
| 01/13/2022 | Listed (Active) SDMLS #NP22007770 | $1,325,000 |
| 01/13/2022 | Listed (Active) CLAW #NP22007770MR | $1,325,000 |
| 01/13/2022 | Listed (Active) CRMLS #NP22007770 | $1,325,000 |
| 08/19/2020 | Sold CRMLS #AR20058494 | $977,540 |
| 08/19/2020 | Sold SDMLS #AR20058494 | $977,540 |
| 08/19/2020 | Sold CLAW #AR20058494MR | $977,540 |
| 07/09/2020 | Sold (Public Record) Public Record #675685256 | $978,000 +20.8% / yr |
| 05/29/2020 | Pending CLAW #AR20058494MR | — |
| 05/29/2020 | Pending SDMLS #AR20058494 | — |
| 05/29/2020 | Pending CRMLS #AR20058494 | — |
| 03/17/2020 | Listed (Active) SDMLS #AR20058494 | $999,000 |
| 03/17/2020 | Listed (Active) CRMLS #AR20058494 | $999,000 |
| 03/17/2020 | Listed (Active) CLAW #AR20058494MR | $999,000 |
| 03/27/2018 | Sold (Public Record) Public Record #625267176 | $635,000 |
| 07/28/2014 | Expired CRMLS #IV14040436 | — |
| 07/27/2014 | Expired CLAW #IV14040436MR | — |
| 01/27/2014 | Listed (Active) CLAW #IV14040436MR | $700,000 |
| 01/27/2014 | Listed (Active) CRMLS #IV14040436 | $700,000 |
For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 3881 5th Street
Schools near 3881 5th Street
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | K to 6 | |||
| Public - | 7 to 8 | |||
| Public - | 9 to 12 | |||
| Public - | K to 12 |
Rating | School | Distance |
|---|---|---|
Bryant Elementary School PublicK to 6 | ||
Central Middle School Public7 to 8 | ||
Polytechnic High School Public9 to 12 | ||
Riverside Virtual School PublicK 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 Mark Bridge, Broker, Mark Bridge, DRE #01316702
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.