8342 Cypress Avenue

Closed 9/1/23

Last Sold Price

$1,120,000

11 beds5 baths3,652 sqft$307/sqft

8342 Cypress Ave, Riverside, CA 92503

Description

Welcome to Riverside's hidden gem! This remarkable 5-unit rental income property presents an incredible opportunity for investors seeking a profitable venture in a thriving community. Situated in a prime location, this property offers the best of both worlds: tranquility and convenience. Nestled in the heart of Riverside, residents will enjoy easy access to a wide array of amenities, including shopping centers, restaurants, parks, and entertainment options. The property's strategic location ensures...Welcome to Riverside's hidden gem! This remarkable 5-unit rental income property presents an incredible opportunity for investors seeking a profitable venture in a thriving community. Situated in a prime location, this property offers the best of both worlds: tranquility and convenience. Nestled in the heart of Riverside, residents will enjoy easy access to a wide array of amenities, including shopping centers, restaurants, parks, and entertainment options. The property's strategic location ensures excellent rental demand and consistent cash flow. Investors will appreciate the potential for steady income and long-term growth, making this an attractive addition to any investment portfolio. Don't miss this exceptional opportunity to own a lucrative 5-unit rental income property in Riverside!

LISTING CLOSED: 09/01/2023 12:00 AM

Listed by Jesse Tinajero • DRE #02128655 • Brokerage DRE #00527439 • Century 21 Union Realty • 951-522-1347

Property Details for 8342 Cypress Avenue

Status

Closed

MLS #

SB23103801

Days on Market

Taxes

HOA Fees

Condo/Co-op Fees

Property Type

Mixed Use

MLS Type

Residential Income

Year Built

1945

Lot Size

0.47 AC / 20,473 SF

County

Riverside County

Parking Spaces Total

Private Pool

Cooling Type

Wall/Window Unit(s)

Total Units

5.0

Building Type

Attached

Lot Size Source

Public Records

Living Area

3652

Assessor Parcel Number

151-111-016

Property Attached YN

true

Common Walls

2+ Common Walls

New Construction

Building Area Total

3652

Building Area Units

Square Feet

Stories Total

Entry Level

Pool

Association

Association Fee

$.00

Senior Community

Parcel Number

151111016

Area

Riverside (252)

Directions

Corner of cypress ave and picker st

Recent comparable sales

Median sold price

$1,044,000

Avg days on market

Sale-to-list ratio

93.1%

$975,000

Sold 11/27/24

8
Bedrooms: 4
Bathrooms: 3,330
Square Feet: 0.38
Acres

7741 Trey Avenue, Riverside, CA 92503

$925,000

Sold 10/02/24

6
Bedrooms: 4.5
Bathrooms: 4,249
Square Feet: 0.55
Acres

10937 Sunnyslope Avenue, Riverside, CA 92505

$1,345,300

Sold 10/21/25

8
Bedrooms: 4
Bathrooms: 3,784
Square Feet: 0.22
Acres

9059 Colony Place, Riverside, CA 92503

$1,095,000

Sold 08/06/26

6
Bedrooms: 5
Bathrooms: 3,788
Square Feet: 0.35
Acres

4465-4463 Gilchrist Drive, Riverside, CA 92505

$1,095,000

Sold 08/06/26

6
Bedrooms: 5
Bathrooms: 3,788
Square Feet: 0.35
Acres

4465 Gilchrist Drive, Riverside, CA 92505

$850,000

Sold 02/07/25

9
Bedrooms: 4
Bathrooms: 3,100
Square Feet: 0.33
Acres

10543 Campbell Avenue, Riverside, CA 92505

$1,044,000

Sold 10/27/25

7
Bedrooms: 4
Bathrooms: 3,282
Square Feet: 0.72
Acres

5214 Golden Avenue, Riverside, CA 92505

$1,050,000

Sold 05/22/25

4
Bedrooms: 5
Bathrooms: 4,312
Square Feet: 0.25
Acres

4338 Bayhill Lane, Riverside, CA 92505

$920,000

Sold 04/28/26

5
Bedrooms: 4.5
Bathrooms: 4,276
Square Feet: 0.19
Acres

11356 Pondhurst Way, Riverside, CA 92505

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Location

Listing Courtesy of Century 21 Union Realty, Jesse Tinajero, DRE #02128655

Sold By Century 21 Union Realty, Jesse Tinajero, DRE #02128655

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Building Information for 8342 Cypress Avenue

Stories1Residences-Year Built1945Building Size-Lot Size0.47 AC / 20,473 SF

Payment Calculator

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OriginPoint Mortgage or Rocket Mortgage¹

$6,879 per month

30 year fixed, 6.55% Interest

Principal and Interest

$5,693

Property Taxes

$1,186

HOA Dues

The Payment Calculator is for illustrative purposes only.

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Property Information for 8342 Cypress Avenue

Income / Expense / Tax Details

Income Details

Gross Income: $86,400
Gross Scheduled Income: $86,400

Net Operating Income: $60,520
Financing: Cash

Expense Details

Operating Expense: $25,880
New Taxes Expense: $16,000

Fuel Expense: $1,680
Electric Expense: $3,720
Insurance Expense: $2,200
Professional Management Expense: $0
Trash Expense: $600
Water Sewer Expense: $1,680
Total Expenses: $25,880

Tax / Assessment Info

Tax Tract Number: 411
Tax Lot: 19

Community / Development

Assessments YN: No
Assessments: None

Community Features: Hiking, Horse Trails, Park, Mountainous, Suburban

Property / Structure Info

Interior Features

Laundry: Yes
Laundry Features: Dryer Included, Individual Room, Washer Included

Cooling: Wall/Window Unit(s)

Exterior Features

Entry Location: Front
Pool Features: None

Pool Description: None

Land/Lot Info

Lot Features: 2-5 Units/Acre, Corner Lot, Lot 20000-39999 Sqft
Number Of Units: 5

Land Lease: No
Land Lease Type: Fee
Water: Public
Sewer: Public Sewer
Water Source: Public

Parking Info

Garage Spaces: 8
Parking: Yes

Parking Garage: Assigned
Parking Garage Spaces: 8
Carport Spaces: 0
Parking Features: Assigned

Unit Information

Unit 1

Unit Type Units Total: 1
Unit Type Beds Total: 3

Unit Type Baths Total: 1
Unit Type Furnished: Unfurnished
Unit Type Garage Spaces: 1
Unit Type Garage Attached: No
Unit Type Actual Rent: $1,250
Unit Type Total Rent: $1,250
Unit Type Pro Forma: 2800
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: $1,500
Unit Type Total Rent: $1,500
Unit Type Pro Forma: 2400
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: $1,600
Unit Type Total Rent: $1,600
Unit Type Pro Forma: 2400
Unit Type Type: 3

Unit 4

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: $1,600
Unit Type Total Rent: $1,600
Unit Type Pro Forma: 2400
Unit Type Type: 4

Unit 5

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: $1,250
Unit Type Total Rent: $1,250
Unit Type Pro Forma: 2400
Unit Type Type: 5

Unit Information

Number Of Units Leased: 5
Rent Controlled: No

Number Of Buildings: 3
Number Of Separate Electric Meters: 3
Number Of Separate Gas Meters: 3
Number Of Separate Water Meters: 1

Property History for 8342 Cypress Avenue

Date	Event & Source	Price	Appreciation
Sep 1, 2023	Sold CRMLS #SB23103801	$1,120,000	—
Sep 1, 2023	Sold CLAW #SB23103801MR	$1,120,000	—
Aug 16, 2023	Accepting Backup Offers CRMLS #SB23103801		—
Aug 7, 2023	Sold CRMLS #SB23103801	$1,180,000	—
Aug 7, 2023	Sold CLAW #SB23103801MR	$1,180,000	—
Jul 26, 2023	Sold (Public Record) Public Record #1517621428	$1,120,000	—
Jul 24, 2023	Pending CLAW #SB23103801MR		—
Jul 23, 2023	Accepting Backup Offers CLAW #SB23103801MR		—
Jul 23, 2023	Accepting Backup Offers CRMLS #SB23103801		—
Jul 3, 2023	Listed (Active) CLAW #ABR397MR	$1,200,000	—
Jun 20, 2023	Listed (Active) CRMLS #SB23103801	$1,200,000	—
Jun 12, 2023	Withdrawn / Cancelled CRMLS #ABR397	$1,200,000	—
Jun 10, 2023	Listed (Active) CRMLS #ABR397	$1,200,000	—
Jun 10, 2023	Listed (Active) CLAW #SB23103801MR	$1,200,000	—

Date	Event & Source	Price
09/01/2023	Sold CRMLS #SB23103801	$1,120,000
09/01/2023	Sold CLAW #SB23103801MR	$1,120,000
08/16/2023	Accepting Backup Offers CRMLS #SB23103801	—
08/07/2023	Sold CRMLS #SB23103801	$1,180,000
08/07/2023	Sold CLAW #SB23103801MR	$1,180,000
07/26/2023	Sold (Public Record) Public Record #1517621428	$1,120,000
07/24/2023	Pending CLAW #SB23103801MR	—
07/23/2023	Accepting Backup Offers CLAW #SB23103801MR	—
07/23/2023	Accepting Backup Offers CRMLS #SB23103801	—
07/03/2023	Listed (Active) CLAW #ABR397MR	$1,200,000
06/20/2023	Listed (Active) CRMLS #SB23103801	$1,200,000
06/12/2023	Withdrawn / Cancelled CRMLS #ABR397	$1,200,000
06/10/2023	Listed (Active) CRMLS #ABR397	$1,200,000
06/10/2023	Listed (Active) CLAW #SB23103801MR	$1,200,000

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

Public Records for 8342 Cypress Avenue

Taxable ValueLand$416,160Additions$749,088Total$1,165,248

Tax Record2025$14,226 ($1,186 / month)

Home Facts

Total Finished SqFt3,652 SqFtAbove Grade Finished SqFt3,652 SqFtStories1Lot Size20,473 SqFtStyleMulti-Family Res (5+ Units)Year Built1945Year Renovated1945ZoningR3CountyRIVERSIDEAPN151-111-016

Schools near 8342 Cypress Avenue

This home is within Alvord Unified School District.


Rating	School	Type	Grades	Distance
2/10	Arlanza Elementary School	Public - Serves this home	K to 5	0.3 mi
2/10	Wells Middle School	Public - Serves this home	6 to 8	0.8 mi
4/10	Norte Vista High School	Public - Serves this home	9 to 12	0.8 mi
NR	Summit Elementary	Public - Nearby school	K to 5	1.2 mi
NR	Summit Secondary	Public - Nearby school	6 to 12	1.2 mi
1/10	Mission View High	Public - Choice school	9 to 12	1.2 mi


Rating	School	Distance
2/10	Arlanza Elementary School PublicK to 5 Serves this home	0.3 mi
2/10	Wells Middle School Public6 to 8 Serves this home	0.8 mi
4/10	Norte Vista High School Public9 to 12 Serves this home	0.8 mi
NR	Summit Elementary PublicK to 5 Nearby school	1.2 mi
NR	Summit Secondary Public6 to 12 Nearby school	1.2 mi
1/10	Mission View High Public9 to 12 Choice school	1.2 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: 8342 Cypress Avenue, Riverside, CA 92503	$1,120,000	11	5	3,652	20,473
8372 Cypress Avenue, Riverside, CA 92503	$635,000	–	–	7,254	–
8337 Cypress Avenue, Riverside, CA 92503	–	–	–	3,180	21,344
5973 Picker Street, Riverside, CA 92503	–	–	2	2,000	8,276
8414 Cypress Avenue, Riverside, CA 92503	–	2	1	1,000	9,148
8266 Cypress Avenue, Riverside, CA 92503	$125,082	4	1	1,392	9,148
5963 Picker Street, Riverside, CA 92503	–	3	2	1,144	57,935
5953 Picker Street, Riverside, CA 92503	–	2	1	1,000	5,227
8432 Cypress Avenue, Riverside, CA 92503	–	3	1	1,233	9,583
8413 Cypress Avenue, Riverside, CA 92503	–	4	1	1,444	9,148
8357 Janet Avenue, Riverside, CA 92503	$460,000	–	4	1,880	8,712
8395 Cypress Avenue, Riverside, CA 92503	–	2	1	800	9,148
8446 Cypress Avenue, Riverside, CA 92503	$56,000	2	1.75	1,112	8,712
8431 Cypress Avenue, Riverside, CA 92503	$541,126	3	2	1,050	9,583
5943 Picker Street, Riverside, CA 92503	–	2	1	1,400	10,890
5925 Picker Street, Riverside, CA 92503	$66,500	2	1	748	5,663

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Listing Courtesy of Century 21 Union Realty, Jesse Tinajero, DRE #02128655

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.

Riverside, CA

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