3681-3681 Cranford Avenue

Riverside, CA 92507

$18,100,000
Price
3
Beds
111
Baths
70,160 Sq. Ft.
$258 / Sq. Ft.
70,160
Sq. Ft.
$258
per Sq. Ft.

Description

This Property is being sold as a 3 property, 138 Unit Total Portfolio. 88 Units at 3681 Cranford Ave, Riverside, 25 Units at 1480 7th St, Riverside, and 25 Units at 25678 Prospect Ave, Loma Linda. University Gardens (88 units) is located in the robust rental market of Riverside, California. Built in 1965 the property consist of approximately 67,000 of rentable square feet and is in good condition since the current ownership has made several recent significant renovations to the interiors & exteriors....This Property is being sold as a 3 property, 138 Unit Total Portfolio. 88 Units at 3681 Cranford Ave, Riverside, 25 Units at 1480 7th St, Riverside, and 25 Units at 25678 Prospect Ave, Loma Linda. University Gardens (88 units) is located in the robust rental market of Riverside, California. Built in 1965 the property consist of approximately 67,000 of rentable square feet and is in good condition since the current ownership has made several recent significant renovations to the interiors & exteriors. The balanced unit mix consists of 2 Bedroom, 1 Bedroom & Studio units. The property is situated on approximately 2.2 acres of land that include tuck under parking, carports, 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, pools & rental office. Select units have been tastefully remodeled with new flooring, 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.
  1. Listed by Mark Bridge • DRE #01316702 • Brokerage DRE #01316702 • Mark Bridge, Broker • Mark.Bridge@cushwake.com

Property Details for 3681-3681 Cranford Avenue

Parking Spaces Total
176
Private Pool
Yes
Total Units
88.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
70160
Assessor Parcel Number
250-170-037
Property Attached YN
true
LISTING UPDATED: 11/14/2024 07:14 AM

Property Details for 3681-3681 Cranford Avenue

StatusActive
MLS #OC24232711
Days on Market2
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income / Apartment
Year Built1965
CountyRiverside County

Building Information for 3681-3681 Cranford Avenue

Building/Complex3681-3681 Cranford AveFloor-Stories3Residences-Pet Policy-Year Built1965Building Size-

Property Information for 3681-3681 Cranford Avenue

Rental Info
Rental Info
  • Tenant Pays: Electricity, Gas
Income / Expense / Tax Details
Income Details
  • Gross Income: $2,769,660
  • Gross Scheduled Income: $2,782,236
  • Net Operating Income: $1,691,860
  • Gross Multiplier: 10.87
  • Cap Rate: 5.5
Expense Details
  • Operating Expense: $1,077,800
  • Fuel Expense: $24,911
  • Electric Expense: $25,527
  • Insurance Expense: $71,485
  • Professional Management Expense: $89,514
  • Trash Expense: $40,767
  • Water Sewer Expense: $40,685
  • Total Expenses: $1,077,800
Tax / Assessment Info
  • Tax Tract Number: 009...
  • Tax Lot: 58
Community / Development
Community / Development
  • Community Features: Curbs, Gutters, Sidewalks
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Community
Exterior Features
  • Entry Location: First
  • Pool Features: Private, Fenced, In Ground
  • Pool Description: Fenced, In Ground, Private
Land/Lot Info
  • Additional Parcels Description: 250170003
  • Lot Features: 36-40 Units/Acre
  • Number Of Units: 88
  • Land Lease: No
  • Land Lease Type: Fee
  • Levels: Three Or More
  • Water: Public
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 0
  • Parking: Yes
  • Parking Garage: Assigned, Carport
  • Parking Garage Spaces: 0
  • Carport Spaces: 0
  • Parking Features: Assigned, Carport
Unit Information
Unit 1
  • Unit Type Units Total: 7
  • Unit Type Beds Total: 0
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,370
  • Unit Type Total Rent: $9,588
  • Unit Type Pro Forma: 10465
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 58
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,509
  • Unit Type Total Rent: $85,988
  • Unit Type Pro Forma: 96615
  • Unit Type Type: 2
Unit 3
  • Unit Type Units Total: 23
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,824
  • Unit Type Total Rent: $41,957
  • Unit Type Pro Forma: 48185
  • Unit Type Type: 3
Unit Information
  • Rent Controlled: No
  • Number Of Buildings: 2
  • Number Of Separate Electric Meters: 90
  • Number Of Separate Gas Meters: 90
  • Number Of Separate Water Meters: 1
  • Number With Range: 88
  • Number With Disposal: 88

Property History for 3681-3681 Cranford Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Schools near 3681-3681 Cranford Avenue

This home is within Riverside Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 6
Public - 7 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Longfellow Elementary School
PublicK to 6

University Heights Middle School
Public7 to 8

John W. North High School
Public9 to 12

Abraham Lincoln Continuation School
Public9 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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3681-3681 Cranford Avenue is a multi-family home for sale in Riverside, CA 92507. This property was listed for sale on November 11, 2024 by Mark Bridge, Broker, it's currently listed at $18,100,000. This listing's school district is Riverside Unified School District. Nearby schools include Longfellow Elementary School, University Heights Middle School and John W. North High School. 3681-3681 Cranford Avenue is a 3-bed, 111-bath, 70,160 sqft multi-family home built in 1965.

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 Mark Bridge, Broker, Mark Bridge, DRE #01316702

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.