8342 Cypress Ave

Riverside, CA 92503

$1,120,000
Last Sold Price
11
Beds
5
Baths
3,652 Sq. Ft.
$307 / Sq. Ft.
3,652
Sq. Ft.
$307
per Sq. Ft.
Get preapproved with Rocket Mortgage1
Closed 9/1/23
Closed 9/1/23
front view of a house with a street

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

Property Details for 8342 Cypress Avenue

Parking Spaces Total
8
Private Pool
No
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
LISTING CLOSED: 09/01/2023 12:00 AM

Property Details for 8342 Cypress Avenue

StatusClosed
MLS #SB23103801
Days on Market34
Taxes-
HOA Fees-
Condo/Co-op Fees-
Property TypeMixed Use
MLS TypeResidential Income
Year Built1945
Lot Size0.47 AC / 20,473 SF
CountyRiverside County
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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

Add your commute

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

$0

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
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

DateEvent & SourcePriceAppreciation
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

—
DateEvent & SourcePrice
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

—

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$408,000Additions$734,400Total$1,142,400
Tax Record2025$14,226 ($1,186 / month)
Home Facts
Total Finished SqFt1,680 SqFtAbove Grade Finished SqFt1,680 SqFtStories1Lot Size20,473 SqFtStyleMulti-Family Res (5+ Units)Year Built1945ZoningR3CountyRIVERSIDEAPN151-111-016

Schools near 8342 Cypress Avenue

This home is within Alvord Unified School District.
Rating
School
Type
Grades
Distance
Arlanza Elementary School
Public - K to 5
Wells Middle School
Public - 6 to 8
Norte Vista High School
Public - 9 to 12
Summit Elementary
Public - K to 5
Rating
School
Distance
Arlanza Elementary School
PublicK to 5

Wells Middle School
Public6 to 8

Norte Vista High School
Public9 to 12

Summit Elementary
PublicK to 5

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 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.