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  • MLS#: OC26008212 ( Apartment )
  • Street Address: 1480 7th Street
  • Viewed: 3
  • Price: $5,995,000
  • Price sqft: $0
  • Waterfront: No
  • Year Built: 1971
  • Bldg sqft: 0
  • Days On Market: 21
  • Additional Information
  • County: RIVERSIDE
  • City: Riverside
  • Zipcode: 92507
  • Provided by: Kidder Mathews of California, Inc
  • Contact: Jonathan Jonathan
  • California Regional MLS IDX
  • DMCA Notice
  • Description
    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.
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Features
Association Fee
  1. 0.00
Building Area Total
  1. 22576.00
Commoninterest
  1. Community Apartment
Common Walls
  1. 2+ Common Walls
Country
  1. US
Days On Market
  1. 12
Electric Expense
  1. 3649.00
Entry Location
  1. Street
Fireplace Features
  1. None
Garage Spaces
  1. 25.00
Gardner Expense
  1. 6149.00
Heating
  1. None
Insurance Expense
  1. 13208.00
Laundry Equipment Own Lease
  1. Lease
Laundry Features
  1. Common Area
  2. Community
Laundry Income
  1. 1488.00
Levels
  1. Two
Lockboxtype
  1. None
Lot Features
  1. 21-25 Units/Acre
Netoperatingincome
  1. 320669.00
Newtaxesexpense
  1. 66989.00
Number Of Separate Electric Meters
  1. 25
Number Of Separate Gas Meters
  1. 25
Number Wallac
  1. 25
Number With Disposal
  1. 25
Number With Range
  1. 25
Otherexpense
  1. 20841.00
Otherexpensedescription
  1. Misc.
Parcel Number
  1. 250190014
Parking Features
  1. Assigned
Pest Control Expense
  1. 1259.00
Pool Expense
  1. 17001.00
Pool Features
  1. Community
Professionalmanagementexpense
  1. 54350.00
Property Type
  1. Apartment
Sewer
  1. Public Sewer
Sourcesystemid
  1. CRM
Sourcesystemkey
  1. 454550529:CRM
Tenant Pays
  1. Cable TV
  2. Electricity
  3. Gas
Totalactualrent
  1. 46236.00
Totalexpenses
  1. 225806.00
Trash Expense
  1. 7372.00
Uncovered Spaces
  1. 25.00
Vacancyallowance
  1. 16643
Water Sewer Expense
  1. 9783.00
Water Source
  1. Public
Year Built
  1. 1971
Year Built Source
  1. Public Records