Properties
Riverside, CA 92507 1480 7th Street
$5,595,000
2 more
Presented By: Jonathan Mitchell with Kidder Mathews of California, Inc; 949-557-5000
Baths • 1
SQFT • 22,576
Garage • 25
Home Details
$400,000 Price Reduction. Built in 1977, The Normandy Apartments consist of approximately
22,798 of rentable square feet and is in good condition
since the current ownership has made several recent
signi?cant renovations to the interiors & exteriors.
The balanced unit mix consists of 3 bedroom, 2
bedroom, and 1 bedroom units. The property is
situated on approximately 0.82 acres of land that
include tuck under parking, open on-site
parking in addition to the street parking. The property
is also separately metered for gas and electric with
a community laundry rooms & sparkling pool.
Select units have been tastefully remodeled with
new ?ooring, windows, cabinets, stove, microwave,
countertops, sink, toilet, vanity, shower, AC, recessed
lighting, and ceiling fans throughout. Most of the
“heavy lifting” is complete and should appeal to
an investor looking for a turnkey asset surrounded
by tremendous job opportunity and 10% realistic
rental upside.
Presented By: Jonathan Mitchell with Kidder Mathews of California, Inc; 949-557-5000
Interior Features for 1480 7th Street
Other Interior Features
Common WallsTwoCommonWallsOrMore
Fireplace FeaturesNone
Fireplace Y/NNo
Heating Y/NNo
Laundry FeaturesCommonArea
Total Stories2
Other Rooms
Entry Level1
General for 1480 7th Street
Additional Parcels Y/NNo
Building Area UnitsSquareFeet
Cap Rate6.04
CityRiverside
Community FeaturesBiking, Foothills, Pool
CountyRiverside
Directions1 mile east of 91 Fwy & University
Electric Expense3649
Entry LocationStreet
Garage Spaces25
Garage Y/NYes
Gross Income1488
HOANo
HOA Fee$
HeatingNone
Insurance Expense13208
Land Lease Y/NNo
LevelsTwo
Listing TermsCash, CashToNewLoan
Lot Size Square Feet35719
Lot Size UnitsSquareFeet
MLS Area699 - Not Defined
MaintenanceExpense25000
Net Operating Income338179
New ConstructionNo
Number Of Units Total25
Number of Units Leased25
Open Parking Spaces25
Operating Expense208296
Pool FeaturesCommunity
PostalCityRIVERSIDE
Property Attached Y/NYes
Property Sub Type AdditionalApartment
Property SubtypeApartment
Property TypeResidentialIncome
Rent Control Y/NYes
Senior Community Y/NNo
SewerPublicSewer
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Stories Count2
Tax Lot59
Taxes$60,989
Tenant PaysCableTv, Electricity, Gas
Total Actual Rent46236
Trash Expense7372
Water Sewer Expense9783
Year Built1971
Year Built SourcePublicRecords
Exterior for 1480 7th Street
Building Area Total22576
Lot FeaturesTwentyOneToTwentyFiveUnitsAcre
Lot Size Acres0.82
Lot Size Area35719
Lot Size SourceAssessor
Number of Buildings1
Number of Separate Electric Meters25
Number of Separate Gas Meters25
Number of Separate Water Meters1
Parking FeaturesAssigned
Pool Charge17001
Private PoolNo
Total Parking50
Water SourcePublic
Additional Details
Price History
Schools
High School
Hubert H Humphrey Middle School
Middle School
N/A
Elementary School
Big Hollow Elementary School
