7422 Potomac Street

Closed 12/7/20
Closed 12/7/20
Gallery Image 1
Last Sold Price
$480,000
4 beds2 baths1,647 sqft$291/sqft
7422 Potomac St, Riverside, CA 92504

Description

Whether you're looking for a property to raise a family or generate cashflow this property checks all the boxes. This duplex has solid real estate fundamentals. It has an ideal unit mix of (2) 2 bed 1 bath units with a garage. Rents are significantly below market giving the new owner the opportunity to add value to the asset. The property is centrally located in the heart of Riverside. It's close to schools, parks, the Riverside Plaza, and the Tyler Mall. These opportunities rarely come to market....Whether you're looking for a property to raise a family or generate cashflow this property checks all the boxes. This duplex has solid real estate fundamentals. It has an ideal unit mix of (2) 2 bed 1 bath units with a garage. Rents are significantly below market giving the new owner the opportunity to add value to the asset. The property is centrally located in the heart of Riverside. It's close to schools, parks, the Riverside Plaza, and the Tyler Mall. These opportunities rarely come to market. Don't let this one slip away! Do not disturb the tenants as they are unaware of the sale. Drive by only. Call listing agent with any questions.
LISTING CLOSED: 12/07/2020 12:00 AM

  1. Listed by Steven Casillas • DRE #01982554 • Brokerage DRE #01896421 • Realty ONE Group West

Property Details for 7422 Potomac Street

Status
Closed
MLS #
IG20223372
Days on Market
17
Taxes
-
HOA Fees
-
Condo/Co-op Fees
-
Property Type
Multi Family
MLS Type
Residential Income
Year Built
1952
Lot Size
0.17 AC / 7,405 SF
County
Riverside County
View
None
Parking Spaces Total
2
Private Pool
No
Cooling Type
Wall/Window Unit(s)
Total Units
2.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
1647
Assessor Parcel Number
230-122-009
Property Attached YN
true
Common Walls
1 Common Wall
New Construction
No
Average Studio Area Units
Square Feet
Average 1 Bed Area Units
Square Feet
Average 2 Bed Area Units
Square Feet
Average 3 Bed Area Units
Square Feet
Building Area Total
1647
Building Area Units
Square Feet
Stories Total
1
Pool
No
Spa
No
View
No
View
No
Zoning
R2
Senior Community
No
Parcel Number
230122009
Area
Riverside (252)
Directions
Exit 91 W | Make right on Madison | Right on Potomac
Get preapproved with Rocket Mortgage1

Location

Listing Courtesy of Realty ONE Group West, Steven Casillas, DRE #01982554

Sold By HomeSmart Realty Group, Raj Sharma, DRE #01943882

Add your commute

Building Information for 7422 Potomac Street

Stories1Residences-Year Built1952Building Size-Lot Size0.17 AC / 7,405 SF

Payment Calculator

Get preapproved with
OriginPoint Mortgage or Rocket Mortgage1

$2,928 per month

30 year fixed, 6.55% Interest

Principal and Interest

$2,440

Property Taxes

$488

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Know your buying power with a preapproval and custom rate in minutes

Rocket Mortgage1

Property Information for 7422 Potomac Street

Rental Info
Rental Info
  • Tenant Pays: All Utilities, Gas, Trash Collection
Income / Expense / Tax Details
Income Details
  • Gross Income: $25,200
  • Gross Scheduled Income: $25,200
  • Gross Operating Income: $25,200
  • Net Operating Income: $22,250
  • Financing: Conventional
Expense Details
  • Operating Expense: $2,650
  • New Taxes Expense: $5,418
  • Electric Expense: $0
  • Insurance Expense: $850
  • Professional Management Expense: $840
  • Trash Expense: $0
  • Water Sewer Expense: $960
  • Total Expenses: $8,068
Tax / Assessment Info
  • Tax Tract Number: 0000
  • Tax Census Tract: 314.01
  • Tax Lot: 29
Community / Development
Community / Development
  • Community Features: Curbs
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Washer Hookup
  • Cooling: Wall/Window Unit(s)
  • Heating Type: None
  • Heating: None
  • Heat Equipment: N/K
Exterior Features
  • Roof: Composition
  • View Description: None
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
  • Spa Features: None
Land/Lot Info
  • Lot Features: 0-1 Unit/Acre
  • Number Of Units: 2
  • Land Lease: No
  • Land Lease Type: Fee
  • Road Surface Type: Paved
  • Road Frontage Type: City Street
  • Levels: One
  • Sewer: Public Sewer
  • Utilities: Electricity Connected, Natural Gas Connected
  • Water Source: Public
Parking Info
  • Garage Spaces: 2
  • Parking Garage Spaces: 2
  • Carport Spaces: 0
Unit Information
Unit 1
  • 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: $1,000
  • Unit Type Total Rent: $1,000
  • Unit Type Pro Forma: 1450
  • Unit Type Type: 1
Unit 2
  • 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: $1,100
  • Unit Type Total Rent: $1,100
  • Unit Type Pro Forma: 1450
  • Unit Type Type: 2
Unit Information
  • Number Of Units Leased: 2
  • Rent Controlled: Yes
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 2
  • Number Of Separate Gas Meters: 2
  • Number Of Separate Water Meters: 1
  • Number Wall AC: 2

Property History for 7422 Potomac Street

DateEvent & SourcePriceAppreciation
Dec 7, 2020

Sold

CRMLS #IG20223372

$480,000—
Dec 7, 2020

Sold

CLAW #IG20223372MR

$480,000—
Dec 7, 2020

Sold

SDMLS #IG20223372

$480,000—
DateEvent & SourcePrice
12/07/2020

Sold

CRMLS #IG20223372

$480,000
12/07/2020

Sold

CLAW #IG20223372MR

$480,000
12/07/2020

Sold

SDMLS #IG20223372

$480,000

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

Public Records for 7422 Potomac Street

Taxable ValueLand$132,487Additions$397,467Total$529,954
Tax Record2025$5,854 ($488 / month)
Home Facts
Beds4Baths2Total Finished SqFt1,647 SqFtAbove Grade Finished SqFt1,647 SqFtStories1Lot Size7,405 SqFtStyleSingle Family ResidenceYear Built1952Year Renovated1952ZoningR2CountyRIVERSIDEAPN230-122-009

Schools near 7422 Potomac Street

This home is within Riverside Unified School District.
Rating
School
Type
Grades
Distance
Madison Elementary School
Public - K to 6
Sierra Middle School
Public - 7 to 8
Ramona High School
Public - 9 to 12
Opportunity Program School
Public - 7 to 12
Rating
School
Distance
Madison Elementary School
PublicK to 6

Sierra Middle School
Public7 to 8

Ramona High School
Public9 to 12

Opportunity Program School
Public7 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.

Similar Homes

New listings in 92504

$1,199,000 | 17008 Birch Hill Road, Riverside, CA 92504
1/55
Open: 8/9 12:30PM - 03:00PM

$1,199,000

4
Bedrooms
2,899
Square Feet
1.21
Acres

17008 Birch Hill Road, Riverside, CA 92504

$598,000 | 4737 Toyon Road, Riverside, CA 92504
1/45
Listed By Coldwell Banker Realty

$598,000

3
Bedrooms
1,221
Square Feet
0.15
Acres

4737 Toyon Road, Riverside, CA 92504

$569,000 | 7307 Lenox Avenue, Riverside, CA 92504
1/56
Listed By Coldwell Banker Realty

$569,000

2
Bedrooms
1,148
Square Feet
0.26
Acres

7307 Lenox Avenue, Riverside, CA 92504

$619,900 | 4242 Eileen Street, Riverside, CA 92504
1/26

$619,900

4
Bedrooms
1,752
Square Feet
0.19
Acres

4242 Eileen Street, Riverside, CA 92504

$650,000 | 6015 Florence Street, Riverside, CA 92504
1/27

$650,000

3
Bedrooms
1,467
Square Feet
0.09
Acres

6015 Florence Street, Riverside, CA 92504

$650,000 | 6009 Florence Street, Riverside, CA 92504
1/30

$650,000

3
Bedrooms
1,443
Square Feet
0.11
Acres

6009 Florence Street, Riverside, CA 92504

$1,299,000 | 18902 Wildflower Way, Riverside, CA 92504
1/60

$1,299,000

5
Bedrooms
3,412
Square Feet
7.13
Acres

18902 Wildflower Way, Riverside, CA 92504

a view of swimming pool with outdoor seating
1/11

$1,495,000

5
Bedrooms
4,748
Square Feet
0.88
Acres

16947 Orangecrest Court, Riverside, CA 92504

$589,000 | 16571 Mockingbird Canyon Road, Riverside, CA 92504
1/4

$589,000

2
Bedrooms
1,125
Square Feet
0.57
Acres

16571 Mockingbird Canyon Road, Riverside, CA 92504

Nearby home values

AddressSold priceBedsBathsSqftLot (Sqft)
This home: 7422 Potomac Street, Riverside, CA 92504
$480,000
4
2
1,647
7,405
7414 Potomac Street, Riverside, CA 92504
$330,000
4
2
1,615
7,405
7432 Potomac Street, Riverside, CA 92504
$375,000
2
2
1,589
7,405
7421 Mt Vernon Street, Riverside, CA 92504
$671,000
2
4
1,680
7,405
7415 Mt Vernon Street, Riverside, CA 92504
–
4
2
1,820
7,405
7442 Potomac Street, Riverside, CA 92504
$655,000
4
2
1,647
7,405

Explore Nearby Homes

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 Realty ONE Group West, Steven Casillas, DRE #01982554

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.