5250 Golden Avenue

Closed 11/5/19
Closed 11/5/19
Gallery Image 1
Sold
Last Sold Price
$1,500,000
11 beds12 baths8,271 sqft

5250 Golden Ave, Riverside, CA 92505

Multi FamilyProperty Type
3.22 acresLot Size
1951Year Built
$181/sq ftPrice per sq ft
10 carsParking Spaces

Description

Offering Actual CAP Rate of 5.32 % With a Pro Forma CAP Rate of 6.68 %, The ProForma CAP Rate is Achievable By Increasing Rents to Market. Offering GRM of 13.97 With a Pro Forma GRM of 10.49. Development Potential With 3+ Acres Of Buildable Land. The Property Was Tentative Tract Mapped for 15 Homes With The City of Riverside (See Attached Tract Map). Conservative 15-20 % Upside in Potential Rental Income Per Rental Survey. Rental Comparables Illustrate a 100 % Occupancy Area. Located in a Quiet Residential...Offering Actual CAP Rate of 5.32 % With a Pro Forma CAP Rate of 6.68 %, The ProForma CAP Rate is Achievable By Increasing Rents to Market. Offering GRM of 13.97 With a Pro Forma GRM of 10.49. Development Potential With 3+ Acres Of Buildable Land. The Property Was Tentative Tract Mapped for 15 Homes With The City of Riverside (See Attached Tract Map). Conservative 15-20 % Upside in Potential Rental Income Per Rental Survey. Rental Comparables Illustrate a 100 % Occupancy Area. Located in a Quiet Residential Neighborhood. Non-Rent Control Community & Area. Two Blocks From La Sierra University. The properties consist of two lots that are adjacent to one another. This ten unit apartment property is composed of 2 one bedroom / one bathroom units, 6 two bedroom / one bathroom units and 2 three bedroom / two bathroom units. Not only does this property possess an attractive unit mix but the property has been tentative tracts in recent years for a possible development of 15+ single family homes with the City of Riverside. This asset allows a potential investor the unique opportunity to cashflow, increase rents, while working towards future development options.
  • Listed by: ALBERT LE DRE #01468313 Brokerage DRE #01923766 • LE INVESTMENT GROUP
Listing closed: 11/05/2019 12:00 AM • Source: CRMLS, MLS#: IV19140274
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Location

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

Sold By LE INVESTMENT GROUP, ALBERT LE, DRE #01468313

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Principal and Interest

$8,008

Property Taxes

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Property Information for 5250 Golden Avenue

Property Details

  • MLS Type: Residential Income
  • County: Riverside County
  • Parking Spaces Total: 10
  • Private Pool: No
  • Total Units: 10.0
  • Building Type: Attached
  • Lot Size Source: Assessor
  • Living Area: 8271
  • Assessor Parcel Number: 141-090-005
  • Property Attached YN: true
  • Common Walls: 1 Common Wall
  • New Construction: No
  • Average Studio Area: 650
  • Average Studio Area Units: Square Feet
  • Average 1 Bed Area: 725
  • Average 1 Bed Area Units: Square Feet
  • Average 2 Bed Area: 850
  • Average 2 Bed Area Units: Square Feet
  • Average 3 Bed Area: 1250
  • Average 3 Bed Area Units: Square Feet
  • Building Area Total: 8271
  • Building Area Units: Square Feet
  • Pool: No
  • Zoning: R1
  • Senior Community: No
  • Parcel Number: 141090005
  • Area: Riverside (252)
  • Directions: 91 Fwy Exit Pierce St. go North

Building Information

  • Year Built: 1951
  • Lot Size: 3.22 AC / 140,263 SF

Income / Expense / Tax Details

Income Details
  • Gross Income: $166,800
  • Gross Scheduled Income: $166,800
  • Vacancy Allowance: 1668
  • Net Operating Income: $116,814
  • Gross Multiplier: 10.49
  • Cap Rate: 6.68
  • Financing: Cash
Expense Details
  • Operating Expense: $48,318
  • New Taxes Expense: $17,675
  • Gardener Expense: $1,200
  • Fuel Expense: $1,200
  • Electric Expense: $5,000
  • Insurance Expense: $2,253
  • Maintenance Expense: $6,605
  • Professional Management Expense: $4,954
  • Other Expense: $1,231
  • Other Expense Description: Admin
  • Trash Expense: $2,800
  • Water Sewer Expense: $5,400
  • Total Expenses: $48,318
Tax / Assessment Info
  • Tax Tract Number: 2
  • Tax Census Tract: 409.03
  • Tax Lot: 7

Community / Development

Community / Development
  • Community Features: Suburban

Property / Structure Info

Interior Features
  • Laundry: Yes
  • Laundry Features: Gas & Electric Dryer Hookup
Exterior Features
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
Land/Lot Info
  • Additional Parcels Description: 141090032
  • Lot Features: 6-10 Units/Acre
  • Number Of Units: 10
  • Land Lease: No
  • Land Lease Type: Fee
  • Water: Meter on Property
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 10
  • Parking Garage Spaces: 10
  • Carport Spaces: 0

Unit Information

Unit 1
  • Unit Type Units Total: 1
  • 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: $925
  • Unit Type Total Rent: $925
  • Unit Type Pro Forma: 925
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 1
  • 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: $1,075
  • Unit Type Total Rent: $1,075
  • Unit Type Pro Forma: 1075
  • Unit Type Type: 2
Unit 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: No
  • Unit Type Actual Rent: $1,300
  • Unit Type Total Rent: $1,300
  • Unit Type Pro Forma: 1300
  • Unit Type Type: 3
Unit 4
  • 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: No
  • Unit Type Actual Rent: $1,300
  • Unit Type Total Rent: $2,600
  • Unit Type Pro Forma: 1300
  • Unit Type Type: 4
Unit 5
  • Unit Type Units Total: 3
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 3
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $1,500
  • Unit Type Total Rent: $4,500
  • Unit Type Pro Forma: 1500
  • Unit Type Type: 5
Unit 6
  • Unit Type Units Total: 2
  • Unit Type Beds Total: 3
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 2
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $1,750
  • Unit Type Total Rent: $3,500
  • Unit Type Pro Forma: 1750
  • Unit Type Type: 6
Unit Information
  • Rent Controlled: No
  • Number Of Buildings: 7
  • Number Of Separate Electric Meters: 6
  • Number Of Separate Gas Meters: 6
  • Number Of Separate Water Meters: 6

Property History for 5250 Golden Avenue

DateEvent & SourcePriceAppreciation
Nov 5, 2019

Sold

CLAW #IV19140274MR

$1,500,000—
Nov 5, 2019

Sold

SDMLS #IV19140274

$1,500,000—
Nov 5, 2019

Sold

CRMLS #IV19140274

$1,500,000—
DateEvent & SourcePrice
11/05/2019

Sold

CLAW #IV19140274MR

$1,500,000
11/05/2019

Sold

SDMLS #IV19140274

$1,500,000
11/05/2019

Sold

CRMLS #IV19140274

$1,500,000

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

Public records

5250 Golden Avenue

Total Finished SqFt

3,389 SqFt

Above Grade Finished SqFt

3,389 SqFt

Stories

1

Lot Size

50,965 SqFt

Style

Multi-Family Res (5+ Units)

Year Built

1928

Schools near 5250 Golden Avenue

This home is within Alvord Unified School District.
Rating
School
Type
Grades
Distance
Valley View Elementary School
Public - K to 5
Ysmael Villegas Middle School
Public - 6 to 8
La Sierra High School
Public - 9 to 12
Mission View High
Public - 9 to 12
Rating
School
Distance
Valley View Elementary School
PublicK to 5

Ysmael Villegas Middle School
Public6 to 8

La Sierra High School
Public9 to 12

Mission View High
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.