4075-4055 Briggs Street

Closed 11/23/17

Sold

Last Sold Price

$4,600,000

23,900 sqft

4075-4055 Briggs St, Riverside, CA 92509

Multi FamilyProperty Type

0.94 acresLot Size

1978Year Built

$192/sq ftPrice per sq ft

59 carsParking Spaces

Description

PRICE REDUCTION: This sale includes two separate parcels and two different address. Building # 4075 has a total of 23 units and #4055 has a total of 24 units. Both properties to be sold as a package. The two properties are separated by a public alley. Mangers unit is located at 4075. Property is managed by hands on owners and a well taken care of property. Property is fully occupied and units rent out very quickly if there is a vacancy. There is an upside on raising rents, current market rents in...PRICE REDUCTION: This sale includes two separate parcels and two different address. Building # 4075 has a total of 23 units and #4055 has a total of 24 units. Both properties to be sold as a package. The two properties are separated by a public alley. Mangers unit is located at 4075. Property is managed by hands on owners and a well taken care of property. Property is fully occupied and units rent out very quickly if there is a vacancy. There is an upside on raising rents, current market rents in the area for one bedroom units are as high as $900 per month. Property is well located close to shopping and post office. A brand new affordable apartment complex is be constructed next door with 2 & 3 bedroom units, which will be an added asset to the subject property. The unit mix is 44 one bedrooms and 3 studio apartments. All units have central heat and air conditioning, gas stoves, dishwashers and disposals. All units are have separate gas and electric meters. Hot water and trash is supplied by owner. There is two laundry locations for each property. The washer and dryers units are leased on a month to month agreement. A total of 59 onsite parking spaces with one handicap space.

Listed by: RICK PETERSON DRE #00648356 • MR. REAL ESTATE

Listing closed: 11/23/2017 12:00 AM • Source: CRMLS, MLS#: CV17099463

Recent comparable sales

Median sold price

$270,000

Avg days on market

177

Sale-to-list ratio

70.7%

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Square Feet: Unavailable
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Location

Listing Courtesy of MR. REAL ESTATE, RICK PETERSON, DRE #00648356

Sold By CBRE, John Montakab, DRE #01837657

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Property Information for 4075-4055 Briggs Street

Property Details

MLS Type: Commercial Sale / Multi Family
County: Riverside County
Parking Spaces Total: 59
Cooling Type: Central Air, Electric
Total Units: 47.0
Lot Size Dimensions: 290 x 142
Building Area Total: 23900
Building Area Units: Square Feet
Stories Total: 2
Zoning: R-3
Parcel Number: 181041005
Area: Riverside (252)
Directions: South of Mission/ Corner of Briggs and Titon

Building Information

Stories: 2
Year Built: 1978
Lot Size: 0.94 AC / 41,110 SF

Income / Expense / Tax Details

Income Details

Gross Scheduled Income: $399,735
Net Operating Income: $227,717

Laundry Income: $3,600
Other Income 1: $1,200
Current Financing: Conventional

Expense Details

Operating Expense: $172,018
Expense Year: $2,016

Reserves Expense: $18,323
Building Expenses: $28,000
Insurance Expense: $7,097
Maintenance Expense: $22,412
Water Sewer Expense: $49,947
Real Estate Tax Expense: $15,339
Supplies Expense: $13,200
Total Expenses: $172,018

Tax / Assessment Info

Tax Rate: 1.12
Tax Year: 2016

Community / Development

Community / Development

Investment Property: Yes

Property / Structure Info

Interior Features

Laundry: Yes
Laundry Features: Community, Gas Dryer Hookup, Washer Hookup

Laundry Equipment Own Lease: Lease
Cooling: Central Air, Electric
Heating Type: Forced Air, Natural Gas
Heating: Forced Air, Natural Gas

Exterior Features

Security Features: Carbon Monoxide Detector(s), Resident Manager, Security Lights, Smoke Detector(s)
Construction Materials: Asphalt, Drywall Walls, Stucco

Roof: Composition, Mixed, Rolled/Hot Mop
Fence: Yes
Fencing: Chain Link, Wrought Iron

Land/Lot Info

Sign on Property: No
Additional Parcels Description: 181041006

Lot Features: Corner Lot, Lot Over 40000 Sqft, Level, Sprinklers In Front
Current Use Comments: All units are month to month
Land Use: Multi-Family
Sprinklers: Yes
Utilities: Cable Connected, Electricity Connected, Natural Gas Connected, Phone Connected, Sewer Connected, Water Connected
Electric: Electricity - On Property, Standard
Water Source: Public

Parking Info

Uncovered Spaces: 59

Property / Structure Info

Building Status: Existing
Asset Class: Multi-Family

Unit Information

Unit 1

Unit Type Units Total: 44
Unit Type Beds Total: 1

Unit Type Baths Total: 1
Unit Type Actual Rent: $800
Unit Type Area: 500
Unit Type Area Units: Square Feet
Unit Type Type: 1
Unit Type Description: under market rents

Unit 2

Unit Type Units Total: 3
Unit Type Beds Total: 1

Unit Type Baths Total: 1
Unit Type Actual Rent: $700
Unit Type Area: 300
Unit Type Area Units: Square Feet
Unit Type Type: 2
Unit Type Description: Studio units and under market rents

Unit Information

Number Of Units Leased: 47
Number Of Buildings: 3

Property History for 4075-4055 Briggs Street

Date	Event & Source	Price	Appreciation
Nov 23, 2017	Sold CRMLS #CV17099463	$4,600,000	—
Jul 10, 2017	Price Change CRMLS #CV17099463	$4,935,000	—
May 9, 2017	Listed (Active) CRMLS #CV17099463	$5,640,000	—

Date	Event & Source	Price
11/23/2017	Sold CRMLS #CV17099463	$4,600,000
07/10/2017	Price Change CRMLS #CV17099463	$4,935,000
05/09/2017	Listed (Active) CRMLS #CV17099463	$5,640,000

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

Schools near 4075-4055 Briggs Street

This home is within Jurupa Unified School District.


Rating	School	Type	Grades	Distance
4/10	West Riverside Elementary School	Public - Serves this home	K to 6	0.3 mi
2/10	Mission Middle School	Public - Serves this home	7 to 8	0.7 mi
3/10	Rubidoux High School	Public - Serves this home	9 to 12	0.8 mi
NR	Steps Community Day School	Public - Nearby school	7 to 12	0.7 mi
1/10	Nueva Vista Continuation High School	Public - Choice school	9 to 12	1.8 mi
NR	Life Christian Academy	Private - Nearby school	K to 5	0.7 mi


Rating	School	Distance
4/10	West Riverside Elementary School PublicK to 6 Serves this home	0.3 mi
2/10	Mission Middle School Public7 to 8 Serves this home	0.7 mi
3/10	Rubidoux High School Public9 to 12 Serves this home	0.8 mi
NR	Steps Community Day School Public7 to 12 Nearby school	0.7 mi
1/10	Nueva Vista Continuation High School Public9 to 12 Choice school	1.8 mi
NR	Life Christian Academy PrivateK to 5 Nearby school	0.7 mi

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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Nearby home values

Address	Sold price	Beds	Baths	Sqft	Lot (Sqft)
This home: 4075-4055 Briggs Street, Riverside, CA 92509	$4,600,000	–	–	23,900	41,110
4075 Briggs Street, Jurupa Valley, CA 92509	–	–	–	10,554	20,038
4074 Briggs Street, Riverside, CA 92509	$115,000	3	1	1,160	6,534
4088 Briggs Street, Riverside, CA 92509	$270,000	2	1	884	7,405
4055 Briggs Street, Jurupa Valley, CA 92509	–	–	–	11,728	20,909
4060 Briggs Street, Riverside, CA 92509	$119,900	2	1	884	6,534
4048 Briggs Street, Jurupa Valley, CA 92509	–	2	1	884	6,534
4077 Leigh Street, Jurupa Valley, CA 92509	–	2	1	984	7,405
4036 Briggs Street, Jurupa Valley, CA 92509	–	2	1	884	6,534
4081 Leigh Street, Riverside, CA 92509	$250,000	2	2	1,500	8,712
5724 Tilton Avenue, Jurupa Valley, CA 92509	$210,000	2	1	884	10,890
4063 Leigh Street, Jurupa Valley, CA 92509	–	3	1	884	6,970
4051 Leigh Street, Jurupa Valley, CA 92509	$440,000	2	1	884	6,970
5734 Tilton Avenue, Riverside, CA 92509	$81,000	2	1	816	10,890
4024 Briggs Street, Jurupa Valley, CA 92509	–	2	1	884	6,534
4041 Leigh Street, Jurupa Valley, CA 92509	–	2	1	884	7,405

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Listing Courtesy of MR. REAL ESTATE, RICK PETERSON, DRE #00648356

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.

4075-4055 Briggs St, Riverside, CA 92509

Riverside, CA