Riverside, CA 92507 3681 Cranford Avenue
$22,599,000
Presented By: Jonathan Mitchell with Kidder Mathews of California, Inc; 949-557-5000
Beds • 153
Baths • 6
SQFT • 89,517
Year Built • 1965
Home Details
Call For Offers: 6/11. Built in 1964 and 1977, the properties consist of approximately 90,000 of rentable square feet, totaling 113 units 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, 1 Bedroom & studio units. The property is situated on approximately 4 acres of land that include tuck under parking, carports, open on-site parking recently seismic retrofitted and in addition to the street parking. The property is also separately metered for gas and electric with
a community laundry rooms, pools & rental of?ce. 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 14% realistic rental upside.
Presented By: Jonathan Mitchell with Kidder Mathews of California, Inc; 949-557-5000
Interior Features for 3681 Cranford Avenue
Other Interior Features
Air Conditioning Y/NNo
Basement (Y/N)No
Common WallsTwoCommonWallsOrMore
Fireplace FeaturesNone
Fireplace Y/NNo
Heating Y/NNo
Laundry FeaturesCommonArea
Total Stories3
Other Rooms
Entry Level1
General for 3681 Cranford Avenue
Additional Parcels Description25017033, 250190014
Additional Parcels Y/NYes
Attached Garage No
Building Area UnitsSquareFeet
Cap Rate6.0
Carport Y/NYes
CityRiverside
Community FeaturesCurbs, StormDrains, StreetLights, Sidewalks, Pool
CountyRiverside
Directions3681-3725 CRANFORD AVE & 1480 7th ST. 1 mile east of 91 fwy and 1 mile west of 215 fwy
Electric Expense18532.0
Electric On Property Y/NNo
Entry LocationStreet
Garage Spaces0.0
Garage Y/NNo
Gross Income2279963.0
HOANo
HOA Fee$0.0
HeatingNone
Home Warranty Y/NNo
Insurance Expense59701.0
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsThreeOrMore
Listing TermsCash, CashToExistingLoan, CashToNewLoan
Lot Size Square Feet130244.4
Lot Size UnitsAcres
MLS Area252 - Riverside
MaintenanceExpense113000.0
MobileHomeRemainsYNNo
Net Operating Income1412212.0
New ConstructionNo
Number Of Units Total113
Open Parking Spaces68.0
Operating Expense944245.0
Pool FeaturesCommunity
Property Attached Y/NYes
Property Sub Type AdditionalApartment
Property SubtypeApartment
Property TypeResidentialIncome
Rent Control Y/NNo
Senior Community Y/NNo
SewerPublicSewer
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Tax Lot3
Taxes$254,989
Tenant PaysCableTv, Electricity
Trash Expense33322.0
Water Sewer Expense44215.0
Year Built1965
Year Built SourceAssessor
Exterior for 3681 Cranford Avenue
Building Area Total89517.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot FeaturesTwentySixToThirtyUnitsAcre, ThirtyOneToThirtyFiveUnitsAcre
Lot Size Acres2.99
Lot Size Area2.99
Lot Size SourceAssessor
Number of Buildings3
Number of Separate Electric Meters113
Number of Separate Gas Meters113
Number of Separate Water Meters0
Open Parking Y/NNo
Parking FeaturesAssigned, Carport, ElectricGate
Pool Charge17001.0
Private PoolNo
SpaNo
Total Parking209.0
Water SourcePublic
WaterfrontY/NNo
Additional Details
Price History
Alexandra Eston
Sales Associate
Price
$22,599,000
MLS#OC25062567
List Date
03/21/2025
Property Type
Multi-Family
Phone
(562) 537-4182
