5250 Golden Avenue

Closed 11/5/19

Last Sold Price

$1,500,000

11 beds12 baths8,271 sqft$181/sqft

5250 Golden Ave, Riverside, CA 92505

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.

LISTING CLOSED: 11/05/2019 12:00 AM

Listed by ALBERT LE • DRE #01468313 • Brokerage DRE #01923766 • LE INVESTMENT GROUP

Property Details for 5250 Golden Avenue

Status

Closed

MLS #

IV19140274

Days on Market

Taxes

HOA Fees

Condo/Co-op Fees

Property Type

Multi Family

MLS Type

Residential Income

Year Built

1951

Lot Size

3.22 AC / 140,263 SF

County

Riverside County

Parking Spaces Total

Private Pool

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

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

Zoning

Senior Community

Parcel Number

141090005

Area

Riverside (252)

Directions

91 Fwy Exit Pierce St. go North

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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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Building Information for 5250 Golden Avenue

Stories-Residences-Year Built1951Building Size-Lot Size3.22 AC / 140,263 SF

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$8,373 per month

30 year fixed, 6.55% Interest

Principal and Interest

$7,624

Property Taxes

$749

HOA Dues

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Property Information for 5250 Golden Avenue

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 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

Date	Event & Source	Price	Appreciation
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	—
Oct 18, 2019	Pending SDMLS #IV19140274		—
Oct 11, 2019	Pending CRMLS #IV19140274		—
Oct 11, 2019	Pending CLAW #IV19140274MR		—
Oct 1, 2019	Price Change CRMLS #IV19140274	$1,750,000	—
Jun 14, 2019	Listed (Active) SDMLS #IV19140274	$1,850,000	—
Jun 14, 2019	Listed (Active) CLAW #IV19140274MR	$1,850,000	—
Jun 14, 2019	Listed (Active) CRMLS #IV19140274	$1,850,000	—
Jul 1, 2016	Expired CRMLS #EV16022106		—
Jun 30, 2016	Expired CLAW #EV16022106MR		—
Apr 4, 2016	Withdrawn / Cancelled CRMLS #EV16022106		—
Apr 4, 2016	Expired SDMLS #EV16022106		—
Mar 24, 2016	Listed (Active) SDMLS #EV16022106	$1,850,000	—
Mar 24, 2016	Listed (Active) CLAW #EV16022106MR	$1,850,000	—
Mar 24, 2016	Listed (Active) CRMLS #EV16022106	$1,850,000	—
Feb 16, 2016	Expired CRMLS #IG15232618		—
Feb 15, 2016	Expired CLAW #IG15232618MR		—
Feb 15, 2016	Expired SDMLS #IG15232618		—
Jan 16, 2016	Listed (Active) CLAW #IG15232618MR	$895,000	—
Jan 16, 2016	Listed (Active) CRMLS #IG15232618	$895,000	—
Oct 24, 2015	Listed (Active) SDMLS #IG15232618	$895,000	—
Jul 31, 2015	Expired CRMLS #IV15126103		—
Jul 30, 2015	Expired SDMLS #IV15126103		—
Jul 30, 2015	Expired CLAW #IV15126103MR		—
Jun 11, 2015	Listed (Active) SDMLS #IV15126103	$1,800,000	—
Jun 11, 2015	Listed (Active) CLAW #IV15126103MR	$1,800,000	—
Jun 11, 2015	Listed (Active) CRMLS #IV15126103	$1,800,000	—
May 7, 2015	Expired CRMLS #IG14253198		—
May 6, 2015	Expired CLAW #IG14253198MR		—
Dec 14, 2014	Expired CRMLS #IG14175562		—
Dec 13, 2014	Expired CLAW #IG14175562MR		—
Dec 4, 2014	Listed (Active) CRMLS #IG14253198	$795,000	—
Dec 4, 2014	Listed (Active) CLAW #IG14253198MR	$795,000	—
Sep 30, 2014	Price Change CRMLS #IG14175562	$1,750,000	—
Aug 15, 2014	Listed (Active) CLAW #IG14175562MR	$1,800,000	—
Aug 15, 2014	Listed (Active) CRMLS #IG14175562	$1,800,000	—
Oct 2, 2013	Expired CRMLS #IG13122111		—
Oct 1, 2013	Expired CLAW #IG13122111MR		—
Jun 25, 2013	Listed (Active) CRMLS #IG13122111	$1,800,000	—
Jun 25, 2013	Listed (Active) CLAW #IG13122111MR	$1,800,000	—
Jan 7, 2013	Expired CRMLS #P422574	$1,275,000	—
Nov 1, 2012	Expired CRMLS #K12042458	$1,531,000	—
Oct 31, 2012	Expired CLAW #K12042458MR		—
Mar 31, 2012	Listed (Active) CLAW #K12042458MR	$1,531,000	—
Mar 31, 2012	Listed (Active) CRMLS #K12042458	$1,531,000	—
Nov 21, 2004	Expired CRMLS #H414236	$1,275,000	—
Nov 21, 2004	Expired CLAW #H414236MR		—
Nov 20, 2004	Expired CLAW #P422574MR		—
Oct 20, 2004	Listed (Active) CLAW #P422574MR	$1,275,000	—
Oct 20, 2004	Listed (Active) CRMLS #P422574	$1,275,000	—
Oct 20, 2004	Listed (Active) CRMLS #H414236	$1,275,000	—
Oct 20, 2004	Listed (Active) CRMLS #CC216412	$1,275,000	—
Oct 20, 2004	Listed (Active) CLAW #H414236MR	$1,275,000	—
Jun 6, 2002	Sold (Public Record) Public Record #93943681	$200,000	—

Date	Event & Source	Price
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
10/18/2019	Pending SDMLS #IV19140274	—
10/11/2019	Pending CRMLS #IV19140274	—
10/11/2019	Pending CLAW #IV19140274MR	—
10/01/2019	Price Change CRMLS #IV19140274	$1,750,000
06/14/2019	Listed (Active) SDMLS #IV19140274	$1,850,000
06/14/2019	Listed (Active) CLAW #IV19140274MR	$1,850,000
06/14/2019	Listed (Active) CRMLS #IV19140274	$1,850,000
07/01/2016	Expired CRMLS #EV16022106	—
06/30/2016	Expired CLAW #EV16022106MR	—
04/04/2016	Withdrawn / Cancelled CRMLS #EV16022106	—
04/04/2016	Expired SDMLS #EV16022106	—
03/24/2016	Listed (Active) SDMLS #EV16022106	$1,850,000
03/24/2016	Listed (Active) CLAW #EV16022106MR	$1,850,000
03/24/2016	Listed (Active) CRMLS #EV16022106	$1,850,000
02/16/2016	Expired CRMLS #IG15232618	—
02/15/2016	Expired CLAW #IG15232618MR	—
02/15/2016	Expired SDMLS #IG15232618	—
01/16/2016	Listed (Active) CLAW #IG15232618MR	$895,000
01/16/2016	Listed (Active) CRMLS #IG15232618	$895,000
10/24/2015	Listed (Active) SDMLS #IG15232618	$895,000
07/31/2015	Expired CRMLS #IV15126103	—
07/30/2015	Expired SDMLS #IV15126103	—
07/30/2015	Expired CLAW #IV15126103MR	—
06/11/2015	Listed (Active) SDMLS #IV15126103	$1,800,000
06/11/2015	Listed (Active) CLAW #IV15126103MR	$1,800,000
06/11/2015	Listed (Active) CRMLS #IV15126103	$1,800,000
05/07/2015	Expired CRMLS #IG14253198	—
05/06/2015	Expired CLAW #IG14253198MR	—
12/14/2014	Expired CRMLS #IG14175562	—
12/13/2014	Expired CLAW #IG14175562MR	—
12/04/2014	Listed (Active) CRMLS #IG14253198	$795,000
12/04/2014	Listed (Active) CLAW #IG14253198MR	$795,000
09/30/2014	Price Change CRMLS #IG14175562	$1,750,000
08/15/2014	Listed (Active) CLAW #IG14175562MR	$1,800,000
08/15/2014	Listed (Active) CRMLS #IG14175562	$1,800,000
10/02/2013	Expired CRMLS #IG13122111	—
10/01/2013	Expired CLAW #IG13122111MR	—
06/25/2013	Listed (Active) CRMLS #IG13122111	$1,800,000
06/25/2013	Listed (Active) CLAW #IG13122111MR	$1,800,000
01/07/2013	Expired CRMLS #P422574	$1,275,000
11/01/2012	Expired CRMLS #K12042458	$1,531,000
10/31/2012	Expired CLAW #K12042458MR	—
03/31/2012	Listed (Active) CLAW #K12042458MR	$1,531,000
03/31/2012	Listed (Active) CRMLS #K12042458	$1,531,000
11/21/2004	Expired CRMLS #H414236	$1,275,000
11/21/2004	Expired CLAW #H414236MR	—
11/20/2004	Expired CLAW #P422574MR	—
10/20/2004	Listed (Active) CLAW #P422574MR	$1,275,000
10/20/2004	Listed (Active) CRMLS #P422574	$1,275,000
10/20/2004	Listed (Active) CRMLS #H414236	$1,275,000
10/20/2004	Listed (Active) CRMLS #CC216412	$1,275,000
10/20/2004	Listed (Active) CLAW #H414236MR	$1,275,000
06/06/2002	Sold (Public Record) Public Record #93943681	$200,000

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

Public Records for 5250 Golden Avenue

Taxable ValueLand$304,534Additions$403,815Total$708,349

Tax Record2025$8,982 ($749 / month)

Home Facts

Total Finished SqFt3,389 SqFtAbove Grade Finished SqFt3,389 SqFtStories1Lot Size50,965 SqFtStyleMulti-Family Res (5+ Units)Year Built1928Year Renovated1928ZoningR1CountyRIVERSIDEAPN141-090-005

Schools near 5250 Golden Avenue

This home is within Alvord Unified School District.


Rating	School	Type	Grades	Distance
3/10	Valley View Elementary School	Public - Serves this home	K to 5	0.5 mi
6/10	Ysmael Villegas Middle School	Public - Serves this home	6 to 8	2.9 mi
4/10	La Sierra High School	Public - Serves this home	9 to 12	1.6 mi
1/10	Mission View High	Public - Choice school	9 to 12	1.3 mi
NR	Summit Secondary	Public - Nearby school	6 to 12	1.3 mi
NR	Summit Elementary	Public - Nearby school	K to 5	1.3 mi
NR	La Sierra Academy	Private - Nearby school	K to 12	0.5 mi


Rating	School	Distance
3/10	Valley View Elementary School PublicK to 5 Serves this home	0.5 mi
6/10	Ysmael Villegas Middle School Public6 to 8 Serves this home	2.9 mi
4/10	La Sierra High School Public9 to 12 Serves this home	1.6 mi
1/10	Mission View High Public9 to 12 Choice school	1.3 mi
NR	Summit Secondary Public6 to 12 Nearby school	1.3 mi
NR	Summit Elementary PublicK to 5 Nearby school	1.3 mi
NR	La Sierra Academy PrivateK to 12 Nearby school	0.5 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: 5250 Golden Avenue, Riverside, CA 92505	$1,500,000	11	12	8,271	140,263
5236 Golden Avenue, Riverside, CA 92505	$215,000	3	2.5	2,412	25,700
11291 Green Arbor Drive, Riverside, CA 92505	$415,000	3	3	1,606	6,534
5291 Golden Avenue, Riverside, CA 92505	–	2	1	912	58,806
11298 Green Arbor Drive, Riverside, CA 92505	$160,000	3	2	1,427	6,970
5226 Golden Avenue, Riverside, CA 92505	–	–	3.5	2,995	31,363
11283 Green Arbor Drive, Riverside, CA 92505	$459,000	4	3	1,893	6,534
11290 Green Arbor Drive, Riverside, CA 92505	$395,000	4	3	2,315	6,970
5214 Golden Avenue, Riverside, CA 92505	$1,044,000	7	4	3,282	31,363
5271 Almar Street, Riverside, CA 92505	–	3	1.75	1,694	7,841
11275 Green Arbor Drive, Riverside, CA 92505	–	3	1.75	1,427	6,534
5251 Almar Street, Riverside, CA 92505	$565,000	4	1.75	1,566	8,712
5261 Almar Street, Riverside, CA 92505	$510,000	3	1.75	1,382	9,148
11282 Green Arbor Drive, Riverside, CA 92505	–	2	1.75	1,232	6,970
5241 Almar Street, Riverside, CA 92505	–	4	1.75	1,566	8,712
5231 Almar Street, Riverside, CA 92505	$165,000	4	2	1,566	8,712

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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.

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