7467 Potomac St

Riverside, CA 92504

$1,575,000
Last Sold Price
1
Bed
20
Baths
—Sq. Ft.
— / Sq. Ft.
—
Sq. Ft.
—
per Sq. Ft.
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Closed 11/9/07
Closed 11/9/07

Description

The Potomac Apartments is a 20-unit apartment property built in 1954. Situtuated on three parcels, the property is made up of two 6 unit properties that are conjoined, and an 8 unit property standing alone on an individual parcel. The property is comprised of four studios, sixteen 1 bedroom/1 bathroom units. Amenities include patios, wall air conditioning and heating units, laundry, and carport parking. Located in the heart of Riverside, a new investor can take advantage of an underdeveloped apartment...The Potomac Apartments is a 20-unit apartment property built in 1954. Situtuated on three parcels, the property is made up of two 6 unit properties that are conjoined, and an 8 unit property standing alone on an individual parcel. The property is comprised of four studios, sixteen 1 bedroom/1 bathroom units. Amenities include patios, wall air conditioning and heating units, laundry, and carport parking. Located in the heart of Riverside, a new investor can take advantage of an underdeveloped apartment market lacking supply of sufficient new construction to meet the needs of Riverside's increasing population. A new owner can expect to see rising rents year after year as rent comparables illustrate the low occupancy and rising rental rates of the area.
  1. Listed by DOUGLAS MCCAULEY • DRE #01155706 • MARCUS & MILLICHAP

Property Details for 7467 Potomac Street

Parking Spaces Total
0
Total Units
20.0
Assessor Parcel Number
230-121-012
Subdivision Name
OTHR
Subdivision Name Other
OTHR
Parcel Number
230121012
Area
Riverside (252)
LISTING CLOSED: 11/09/2007 12:00 AM

Property Details for 7467 Potomac Street

StatusClosed
MLS #C07148371
Days on Market37
Taxes-
HOA Fees-
Condo/Co-op Fees-
Property TypeMulti Family
MLS TypeResidential Income
Year Built1954
Lot Size-
CountyRiverside County
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Location

Listing Courtesy of MARCUS & MILLICHAP, DOUGLAS MCCAULEY, DRE #01155706

Sold By MARCUS & MILLICHAP, DOUG MCCAULEY, DRE #01155706

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Building Information for 7467 Potomac Street

Stories-Residences-Year Built1954Building Size-Lot Size-

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OriginPoint Mortgage or Rocket Mortgage1

$9,587 per month

30 year fixed, 6.36% Interest

Principal and Interest

$7,848

Property Taxes

$1,739

HOA Dues

$0

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Property Information for 7467 Potomac Street

Income / Expense / Tax Details
Income Details
  • Gross Income: $173,520
  • Gross Scheduled Income: $173,520
  • Net Operating Income: $100,100
  • Financing: Cash
Expense Details
  • Operating Expense: $67,424
Tax / Assessment Info
  • Tax Tract Number: 0001
  • Tax Lot: 001
Property / Structure Info
Land/Lot Info
  • Number Of Units: 20
Parking Info
  • Garage Spaces: 20
  • Parking Garage Spaces: 20
  • Carport Spaces: 0
Property / Structure Info
  • Builders Tract Code: OTHR
Unit Information
Unit 1
  • Unit Type Units Total: 4
  • Unit Type Beds Total: 0
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Furnished
  • Unit Type Actual Rent: $725
  • Unit Type Total Rent: $7,860
  • Unit Type Area Units: Square Feet
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 16
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Furnished
  • Unit Type Actual Rent: $750
  • Unit Type Total Rent: $11,600
  • Unit Type Area Units: Square Feet
  • Unit Type Type: 2
Unit Information
  • Number Of Units Leased: 100
  • Rent Controlled: No
  • Number Of Buildings: 3
  • Number Of Separate Electric Meters: 20
  • Number Of Separate Gas Meters: 20
  • Number Of Separate Water Meters: 1

Property History for 7467 Potomac Street

DateEvent & SourcePriceAppreciation
Nov 9, 2007

Sold

CLAW #C07148371MR

$1,575,000—
Nov 9, 2007

Sold

CRMLS #C07148371

$1,575,000—
Nov 8, 2007

Pending

CLAW #C07148371MR

—
DateEvent & SourcePrice
11/09/2007

Sold

CLAW #C07148371MR

$1,575,000
11/09/2007

Sold

CRMLS #C07148371

$1,575,000
11/08/2007

Pending

CLAW #C07148371MR

—

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

Public Records for 7467 Potomac Street

Taxable ValueLand$137,700Additions$1,718,700Total$1,856,400
Tax Record2025$20,870 ($1,739 / month)
Home Facts
Total Finished SqFt4,872 SqFtAbove Grade Finished SqFt4,872 SqFtStories2Lot Size7,840 SqFtStyleMulti-Family Res (5+ Units)Year Built1958ZoningR3CountyRIVERSIDEAPN230-121-012

Schools near 7467 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.

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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 MARCUS & MILLICHAP, DOUGLAS MCCAULEY, DRE #01155706

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.