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PENDING
3613 Nye Avenue, Riverside, CA 92505
2
beds
2
baths
14500
ft2
· 80000
ft2 lot
$4,950,000
$341 / ft2
Listing provided courtesy of Kurt Tiedt, Titan Real Est.& Investments.
Source CRMLS.
This is a unique opportunity to own a high quality 16 unit condominium complex. All units already have their own Assessor Parcel Numbers and the seller is considering selling each unit separately. The complex was built in 2007 but due to the 2008 recession the units never sold and eventually were rented. The complex is operating as a higher end apartment complex, and each unit pays its own trash, sewer, water, electric and gas bills. Normally apartments pay many of these expenses, so the rents appear slightly lower than competing high quality newer apartments. Each unit has an attached two car garage, with laundry in the garage. The complex is gated on both sides and there is an attractive central grass area with kids playset and BBQ grills.
HOA
$—/month
On market
3 months
Year built
2007
Property type
Multi-Family
Parking
40
MLS
IG21019691
Price / Sq.Ft.
$341 / ft2
Status
Pending
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Property Details
Interior Features & Layout
Appliances
•   
Laundry Details: In Garage
•   
Laundry: 1
Rooms Info
•   
Average3 Bed Area Units: Square Feet
•   
Average Studio Area Units: Square Feet
•   
Average2 Bed Area Units: Square Feet
•   
Average1 Bed Area Units: Square Feet
•   
Average2 Bed Area: 900
Heating & Cooling
•   
Has Heating
•   
Heating Details: Central
•   
Cooling Details: Central Air
Interior Size
•   
Building Area Total: 14500.00
Property, Lot, Community & Exterior Features
Parking Info
•   
Garage Spaces: 32.00
•   
Uncovered Spaces: 8.00
Building Info
•   
Building Area Units: Square Feet
•   
Stories Total: 2
•   
Num Stories: Two
•   
Year Built Source: Assessor
Lot Info
•   
Lot Features: 2-5 Units/Acre
•   
Lot Size Source: Estimated
•   
Elevation Units: Feet
•   
Lot Size Acres: 1.8365
•   
Lot Size Area: 80000.0000
•   
Lot Size Units: Square Feet
Community Info
•   
Number Of Buildings: 2
•   
Total Units: 16
Property Features
•   
Common Walls: 2+ Common Walls
Utilities & Other Information
Utilities
•   
Number Of Separate Electric Meters: 17
•   
Number Of Separate Gas Meters: 17
•   
Number Of Separate Water Meters: 17
Water & Sewer Info
•   
Water Source: Public
•   
Sewer: Public Sewer
Listing Details, Costs & Financing Information
Financial Info
•   
Gross Operating Income: 26928.00
•   
Water Sewer Expense: 3600.00
•   
Vacancy Allowance Rate: 1.00
•   
Total Actual Rent: 26160.00
•   
Fuel Expense: 0.00
•   
Trash Expense: 0.00
•   
New Taxes Expense: 60000.00
•   
Insurance Expense: 14000.00
•   
Professional Management Expense: 0.00
•   
Total Expenses: 84800.00
•   
Gross Scheduled Income: 27200.00
•   
Tax Block: A
•   
Operating Expense: 7100.00
•   
Gardener Expense: 6000.00
•   
Rent Control Yn: 1
Tax/Assessment Info
•   
Gross Income: 27200.00
•   
Tax Year: 2020
•   
Taxes: 2457.0
Lease Info
•   
Net Operating Income: 19828.00
Listing Info
•   
Status: Pending
Other
•   
Electric Expense: 1200.00
Multi Unit Information
Unit 1 Information
•   
Unit 1 Bedrooms: 2
•   
Unit 1 Total Units: 16
•   
Has Attached Garage
•   
Unit 1 Furnished Units: Unfurnished
•   
Unit 1 Garage Spaces: 2.00
•   
Unit 1 Bathrooms: 2
•   
Unit 1 Actual Rent: 1635.00
•   
Unit 1 Total Rent: 1635.00
Multi Unit Information
•   
# Of Units: 1
•   
Number With Dishwasher: 16
•   
Number Of Units Leased: 15
•   
Number With Carpet: 16
•   
Number With Disposal: 16
•   
Number With Range: 16
School Neighborhood & Directions
Location
•   
Community Features: Gutters, Suburban
School Info
•   
Directions: Tyler to Nye
Other
Calculation
•   
Dom: 62
•   
Cdom: 62
The information contained in this listing has not been verified by Flyhomes and should be verified by the buyer.

Data last updated: Apr 20, 2021 12:46pm
Neighborhood snapshot
39
Properties for sale
7
Median days on market
$285.74
Median sold price/sqft
102.00%
Sold/List %
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Property History
04/01/2021
04/01/2021
CRMLS #IG21019691
pending
CRMLS #IG21019691
$4,950,000
01/29/2021
01/29/2021
CRMLS #IG21019691
active
CRMLS #IG21019691
$4,950,000
+65.00%
07/22/2014
07/22/2014
Public Record
sold
Public Record
$3,000,000
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