3681 Cranford Avenue, Riverside, CA 92507
3681 Cranford Avenue, Riverside, CA 92507
3681 Cranford Avenue, Riverside, CA 92507
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Margaret DeLao

Margaret DeLao

+1(858) 229-8016
$16,995,000
Est. payment /mo
3 Beds
4 Baths
2.99 Acres Lot
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UPDATED:

Key Details

Property Type Multi-Family

Sub Type Res Income 2-4 Units

Listing Status Active

Purchase Type For Sale

MLS Listing ID OC26004201

Bedrooms 3

Lot Size 2.990 Acres

Property Sub-Type Res Income 2-4 Units

Property Description

$600,000 Price Reduction. Day one 6.10% CAP Rate & 9.4 GRM. Built in 1964, The University Gardens consist of approximately 67,202 of rentable square feet and is in good condition since the current ownership has made several recent renovations to the interiors & exteriors. The unit mix consists of 2 Bedroom, 1 Bedroom & Studio units. The property is situated on approximately 3 acres of land that includes tuck under parking, carports, open on-site parking in addition to street parking. The property is also separately metered for gas and electric with a community laundry rooms, pools & rental office. Select units have been tastefully remodeled with new flooring, windows, cabinets, stove, microwave, countertops, sink, toilet, vanity, shower, AC, recessed lighting & ceiling fans throughout. Most of the heavy lifting is almost complete and should appeal to an investor looking for an asset surrounded by tremendous job opportunity and 10% realistic rental upside. Priced way below replacement cost (under $253 per foot) & less than 1.5 miles from 91 and 215 freeways. Earthquake retrofit and seismic upgrades have been made & all newer roofs and rain gutters.

Location

State CA

County Riverside

Zoning Public Rec

Direction Southeast of 91 Fwy off University

Interior

Cooling Wall/Window

Fireplace No

Exterior

Pool Community/Common

View Y/N No

Building

Story 3

Level or Stories 3

Others

Senior Community No

Tax ID 250170037

Acceptable Financing Cash

Listing Terms Cash

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MLS Router / San Diego MLS
Listed by Jonathan Mitchell, DRE#01227852 Kidder Mathews of California, Inc 

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Margaret DeLao

Margaret DeLao

+1(858) 229-8016

Realtor | License ID: 01377428

Realtor License ID: 01377428

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