4176 1st St
Description
Pro Forma GRM of 12.94 / 1st Time to The Market in 16+ Years. Pride of Ownership Property. / Huge Upside In Potential Rental Income. Conservative 7-10 % Upside in Potential Rental Income Per Rental Survey / / Rental Comparables...Competitive Offering Actual CAP Rate of 4.15 % With a Pro Forma CAP Rate of 5.23 % / ProForma CAP Rate is Achievable Through Continued Market Rental Increases. In Addition The Current Owner Is Not Charging For Available Garage Space / Competitive Offering GRM of 14.17 With a
Pro Forma GRM of 12.94 / 1st Time to The Market in 16+ Years. Pride of Ownership Property. / Huge Upside In Potential Rental Income. Conservative 7-10 % Upside in Potential Rental Income Per Rental Survey / / Rental Comparables Illustrate a 100 % Occupancy Area / Located in a Quiet Residential Neighborhood. Non-Rent Control Located Block From Riverside Community College. The properties consist of two lots that are adjacent to each other. This eight unit apartment property is composed of 5 one bedroom / one bathroom units, 2 two bedroom / one bathroom units and 1 two bedroom / one bathroom single family home. The property is located in the historic Downtown Riverside sub market and is only a 10 minute walk away from the beautiful Fairmount Park. The immediate area consists mainly of single family residences with smaller apartment complexes. Home and apartment vacancy rates are very low at 3-7%, and most of the tenants of the subject property are long-term tenants who have lived there since the 1990s. Analysis shows that this rate is lower than 48.7% of the neighborhoods in the nation, approximately near the middle range for vacancies.
- Listed by ALBERT LE • DRE #01468313 • Brokerage DRE #01923766 • LE INVESTMENT GROUP
Property Details for 4176 1st Street
Property Details for 4176 1st Street
| Status | Closed |
|---|---|
| MLS # | IV18192731 |
| Days on Market | 13 |
| Taxes | - |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Property Type | Multi Family |
| MLS Type | Residential Income |
| Year Built | 1955 |
| Lot Size | 0.42 AC / 18,085 SF |
| County | Riverside County |
Location
Sold By LE INVESTMENT GROUP, ALBERT LE, DRE #01468313
Building Information for 4176 1st Street
Payment Calculator
$6,232 per month
30 year fixed, 6.36% Interest
$5,731
$501
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1Property Information for 4176 1st Street
- Gross Income: $96,600
- Gross Scheduled Income: $96,600
- Net Operating Income: $65,319
- Number Of Rented Garages: 7
- Garage Rental Rate: $25
- Garage Income: $2,100
- Cap Rate: 5.23
- Financing: Cash
- Operating Expense: $30,420
- New Taxes Expense: $12,625
- Fuel Expense: $310
- Electric Expense: $1,007
- Insurance Expense: $2,000
- Professional Management Expense: $3,830
- Trash Expense: $860
- Water Sewer Expense: $860
- Total Expenses: $30,420
- Tax Tract Number: 21404
- Tax Census Tract: 302.00
- Tax Lot: 11
- Community Features: Suburban
- Laundry: Yes
- Laundry Features: Inside
- Pool Features: None
- Pool Description: None
- Pool: N/K
- Additional Parcels Description: 214042002
- Lot Features: 6-10 Units/Acre
- Number Of Units: 8
- Land Lease: No
- Land Lease Type: Fee
- Water: Meter on Property
- Sewer: Public Sewer
- Water Source: Public
- Garage Spaces: 7
- Uncovered Spaces: 7
- Open Other Spaces Total: 7
- Parking Garage Spaces: 7
- Carport Spaces: 0
- 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: $825
- Unit Type Total Rent: $1,575
- Unit Type Pro Forma: 900
- Unit Type Type: 1
- Unit Type Units Total: 3
- Unit Type Beds Total: 1
- Unit Type Baths Total: 1
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 3
- Unit Type Garage Attached: Yes
- Unit Type Actual Rent: $945
- Unit Type Total Rent: $2,690
- Unit Type Pro Forma: 950
- Unit Type Type: 2
- Unit Type Units Total: 2
- Unit Type Beds Total: 2
- Unit Type Baths Total: 1
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 2
- Unit Type Garage Attached: Yes
- Unit Type Actual Rent: $1,045
- Unit Type Total Rent: $1,990
- Unit Type Pro Forma: 1100
- Unit Type Type: 3
- Unit Type Units Total: 1
- Unit Type Beds Total: 2
- Unit Type Baths Total: 1
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 1
- Unit Type Garage Attached: Yes
- Unit Type Actual Rent: $1,095
- Unit Type Total Rent: $1,095
- Unit Type Pro Forma: 1200
- Unit Type Type: 4
- Number Of Units Leased: 8
- Rent Controlled: No
- Number Of Buildings: 4
- Number Of Separate Electric Meters: 8
- Number Of Separate Gas Meters: 8
- Number Of Separate Water Meters: 2
Property History for 4176 1st Street
| Date | Event & Source | Price | Appreciation |
|---|---|---|---|
| Sep 4, 2018 | Sold SDMLS #IV18192731 | $1,150,000 | — |
| Sep 4, 2018 | Sold CRMLS #IV18192731 | $1,150,000 | — |
| Sep 4, 2018 | Sold CLAW #IV18192731MR | $1,150,000 | — |
| Aug 21, 2018 | Pending CRMLS #IV18192731 | — | |
| Aug 21, 2018 | Pending CLAW #IV18192731MR | — | |
| Aug 8, 2018 | Listed (Active) SDMLS #IV18192731 | $1,250,000 | — |
| Aug 8, 2018 | Listed (Active) CLAW #IV18192731MR | $1,250,000 | — |
| Aug 8, 2018 | Listed (Active) CRMLS #IV18192731 | $1,250,000 | — |
| Date | Event & Source | Price |
|---|---|---|
| 09/04/2018 | Sold SDMLS #IV18192731 | $1,150,000 |
| 09/04/2018 | Sold CRMLS #IV18192731 | $1,150,000 |
| 09/04/2018 | Sold CLAW #IV18192731MR | $1,150,000 |
| 08/21/2018 | Pending CRMLS #IV18192731 | — |
| 08/21/2018 | Pending CLAW #IV18192731MR | — |
| 08/08/2018 | Listed (Active) SDMLS #IV18192731 | $1,250,000 |
| 08/08/2018 | Listed (Active) CLAW #IV18192731MR | $1,250,000 |
| 08/08/2018 | Listed (Active) CRMLS #IV18192731 | $1,250,000 |
For completeness, we often displays two records for one sale: the MLS record and the public record.
Public Records for 4176 1st Street
Schools near 4176 1st 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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| Address | Sold price | Beds | Baths | Sqft | Lot AC |
|---|---|---|---|---|---|
– | – | – | 2,940 | 0.21 | |
$1,000,000 | 12 | 9 | 8,169 | 0.44 | |
– | – | – | 1,792 | 0.23 | |
– | 2 | 3 | 1,493 | 0.18 | |
$526,000 | 2 | 1 | 1,349 | 0.21 | |
$269,500 | 3 | 2 | 1,425 | 0.18 | |
$300,000 | 3 | 2 | 1,728 | 0.23 | |
$280,000 | 3 | 1 | 1,280 | 0.18 | |
$507,000 | 5 | 4 | 2,332 | 0.18 | |
– | 3 | 2 | 1,339 | 0.2 | |
– | – | – | 2,856 | 0.2 | |
$419,500 | 3 | 1 | 1,306 | 0.18 | |
$274,000 | 2 | 4 | 1,190 | 0.08 | |
$485,000 | 3 | 2 | 1,294 | 0.18 | |
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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.