3573 Columbia Avenue

Riverside, CA 92501

$5,798,000
Price
—
Beds
15,510 Sq. Ft.
$374 / Sq. Ft.
15,510
Sq. Ft.
$374
per Sq. Ft.

New

New

Description

The Villas at Columbia is an 18-unit apartment community located just 1.5 miles from the heart of downtown Riverside. Built in 1988, the property sits on a 1.23-acre parcel and features gated access, covered parking, and ample space for potential ADU additions. In the past six months, 11 of the units have undergone comprehensive renovations, including updated flooring, fresh paint, modernized kitchens with new appliances and cabinetry, and fully remodeled bathrooms. Each unit is equipped with air...The Villas at Columbia is an 18-unit apartment community located just 1.5 miles from the heart of downtown Riverside. Built in 1988, the property sits on a 1.23-acre parcel and features gated access, covered parking, and ample space for potential ADU additions. In the past six months, 11 of the units have undergone comprehensive renovations, including updated flooring, fresh paint, modernized kitchens with new appliances and cabinetry, and fully remodeled bathrooms. Each unit is equipped with air conditioning, fireplaces, ceiling fans, and other appealing design features. The property includes a tentative map and fully processed DRE/HOA documents, enabling a seamless conversion to for-sale condominiums at the owner's discretion. This presents a unique opportunity to unlock significant additional value through a condo conversion strategy. Each unit is individually metered for electricity and gas, with tenants covering these costs. The owner currently pays for trash, water, and sewer, and there is no RUBS program in place, offering potential buyers an opportunity to enhance operational efficiency and increase income. The unit mix is highly desirable, featuring one-bedroom units with lofts and two-bedroom units with and without lofts. Uniquely, all one-bedroom units include 1.5 bathrooms, an uncommon feature in the market. Additionally, loft units command a notable rental premium compared to non-loft options.
  1. Listed by Cindy Chin • DRE #01921826 • Brokerage DRE #01921826 • Cindy Chin Realty • 877-622-7789

Property Details for 3573 Columbia Avenue

Lot Size Source
Assessor
Building Area Total
15510
Building Area Units
Square Feet
Stories Total
2
Entry Level
1
Parcel Number
206080019
Area
Riverside (252)
Directions
Quick access to the 91 and 60 freeways.
LISTING UPDATED: 11/22/2024 06:41 AM

Property Details for 3573 Columbia Avenue

StatusActive
MLS #OC24239190
Days on Market1
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeCommercial Sale / Multi Family
Year Built1988
Lot Size1.23 AC / 53,579 SF
CountyRiverside County

Building Information for 3573 Columbia Avenue

Stories2Residences-Year Built1988Building Size-Lot Size1.23 AC / 53,579 SF

Property Information for 3573 Columbia Avenue

Income / Expense / Tax Details
Income Details
  • Current Financing: FHA, Other
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Dryer Included, Gas & Electric Dryer Hookup, Washer Hookup
  • Cooling: Central Air
  • Heating: Central, Combination
Exterior Features
  • Security Features: Gated Community
Land/Lot Info
  • Lot Features: 2-5 Units/Acre
  • Land Use: Multi-Family
  • Water Source: Other
Property / Structure Info
  • Building Status: Existing

Property History for 3573 Columbia Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 3573 Columbia Avenue

Taxable ValueLand$1,070,000Additions$3,210,000Total$4,280,000
Tax Record2024$47,561 ($3,963 / month)
Home Facts
Total Finished SqFt3,120 SqFtAbove Grade Finished SqFt3,120 SqFtStories2Lot Size53,578 SqFtStyleMulti-Family Res (5+ Units)Year Built1988ZoningR3S2CountyRIVERSIDEAPN206-080-019

Schools near 3573 Columbia Avenue

This home is within Riverside Unified School District.
Rating
School
Type
Grades
Distance
Fremont Elementary School
Public - K to 6
University Heights Middle School
Public - 7 to 8
John W. North High School
Public - 9 to 12
Riverside Virtual
Public - K to 12
Rating
School
Distance
Fremont Elementary School
PublicK to 6

University Heights Middle School
Public7 to 8

John W. North High School
Public9 to 12

Riverside Virtual
PublicK 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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More information about 3573 Columbia Avenue, Riverside, CA 92501

3573 Columbia Avenue is a multi-family home for sale in Riverside, CA 92501. This property was listed for sale on November 22, 2024 by Cindy Chin Realty, it's currently listed at $5,798,000. It has been on the market for a total of 0 days and was last sold on November 24, 2023. This listing's school district is Riverside Unified School District. Nearby schools include Fremont Elementary School, University Heights Middle School and John W. North High School. 3573 Columbia Avenue is a 0-bed, 0-bath, 15,510 sqft multi-family home built in 1988.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims 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 discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Cindy Chin Realty, Cindy Chin, DRE #01921826

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.