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3881 5th St, Riverside, CA 92501
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3881 5th St Riverside, CA 92501

$1,495,000 Sold Price as of 02/20/2024
  • 8 Beds
  • 6 Baths
  • 4,340 Sq.Ft.
Sold
$1,495,000 Sold Price as of 02/20/2024 Refinance Your Mortgage
Map preview of 3881 5th St, Riverside, CA 92501

Property Overview: 3881 5th St Riverside, CA has 8 bedrooms, 6 bathrooms, 4,340 living square feet and 7,840 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: 3881 5th Street is located in the heart & robust rental market of Downtown Riverside, California. Built in 1930 and updated in 2022 & 2023. The property consists of 4,340 rentable square feet and is comprised of a unit mix of two 2 Bed / 1 Bath, two 1 Bed + Den / 1 Bath and two 1 Bed / 1 bath units. The property is situated on a 0.18- acre lot and includes 4 private garages with street parking also available. The property is separately metered for gas and electric with a community laundry room. The current ownership has renovated all the interiors including a new block wall and gates. Each unit was tastefully remodeled with new flooring, windows, cabinets, stove, microwave, countertops, sink, toilet, vanity, shower, AC, recessed lighting and ceiling fans throughout. The “heavy lifting” is complete and should appeal to an investor looking for a bite size, turnkey property located in Downtown Riverside surrounded by tremendous job opportunity within walking distance for the tenants to choose from. Riverside is in the county seat of Riverside County; California and it is the most populous in the county. The United States Census Bureau estimated its 2019 population at 325,000, making Riverside the 12th most-populous city in California. Riverside is in Southern California, adjacent to the 60, 91 & 215 freeways and 38 miles to Disneyland, 69 miles to LAX Airport and 54 miles to Palm Springs . Founded in 1883, the city is part of the Greater Los Angeles Area, the second largest metropolitan area in the United States, with almost 18 million residents in 2020. Downtown Riverside is a very densely populated area consisting of Luxury Hotel, Office, Retail, restaurants and entertainment all within walking distance of the subject property. The local apartment market in the city of Riverside remains strong, and thus this property offers an investor the ability to capture quality residents seeking a well-located neighborhood with convenient access to a wide variety of employment opportunities, retail, transportation and educational amenities. The overall demand for well-located apartments will be a key driver in the continued growth in Riverside, California.

Listed by Mark Bridge | BRE #01316702 | Mark Bridge, Broker
Last checked: 5 minutes ago | Last updated: March 19th, 2024 | Source CRMLS | DOM: 154

Home details

Lot Sq. Ft
7,840
HOA Dues
$0/mo
Year built
1938
Garage
4 Car
Property Type:
Mixed Use
Status
Sold
MLS#
OC23133911
City
Riverside
County
Riverside
Time on Site
261 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 6
  • Total # of Buildings: 2
  • # of Leased Units: 6
  • # of Electric Meters: 7
  • # of Gas Meters: 7
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 2
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 4
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,888
  • Total Rent: $7,550
  • Pro Forma/Market Rent: $2,095
Unit Breakdown 2
  • # of Units: 4
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 2
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,500
  • Total Rent: $3,000
  • Pro Forma/Market Rent: $1,650
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 6.34%
  • Gross Rent Multiplier: 11.63
  • Gross Scheduled Income: $128,496
  • Net Operating Income: $94,751
  • Gross Operating Income: $126,526
  • Vacancy Allowance: $3,855
  • Laundry Income: $600
Annual Expense Breakdown
  • Total Operating Expense: $31,775
  • Electric: $0
  • Gas/Fuel: $0
  • New Taxes: $15,989
  • Trash: $0
  • Gardener: $1,200
  • Insurance: $2,200
  • Maintenance: $5,000
  • Professional Management: $0
  • Water/Sewer: $4,886
  • Other Expenses: $2,500
  • Other Expense Description: Misc

Property Details for 3881 5th St

Interior Features
Cooling Information
  • Has Cooling
  • Wall/Window Unit(s)
Heating Information
  • Has Heating
  • Wall Furnace
Laundry Information
  • Has Laundry
  • Community
Fireplace Information
  • No Fireplace
  • None
Room Information
  • Flooring: Vinyl
Kitchen Information
  • Has Appliances
  • Disposal, Gas Range, Microwave
Interior Features
  • Ceiling Fan(s), Recessed Lighting
  • Levels: Two
Exterior Features
Exterior Information
  • Roof: Composition, Shingle
  • Has Fence
  • Block
  • No Spa
  • Spa Features: None
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 4
  • # of Parking Spaces: 4
  • Has Parking
  • Parking Features: Assigned, Garage - Single Door
Lot Information
  • Lot Features: 6-10 Units/Acre
  • Lot Size Source: Assessor
  • Common Interest: None
Property Information
  • Common Walls: 1 Common Wall
  • Total # of Units: 6
  • Parcel Number: 213103009
  • Year Built Source: Assessor
  • Entry Level: 1
  • Property is Attached
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
  • Utilities: Cable Connected, Electricity Connected, Natural Gas Connected, Phone Connected, Sewer Connected, Water Connected
Location / Neighborhood
Location Information
  • Directions: North on Market take a left onto 5th st
Neighborhood Information
  • Community Features: Curbs, Gutters, Sidewalks, Storm Drains, Street Lights, Suburban
View more facts & features

Local Riverside Agent

Sale History for 3881 5th St

Last sold for $1,495,000 on February 20th, 2024

  • March, 2024

  • Mar 19, 2024

    Date

    Canceled

    CRMLS: PW24001779

    $1,950

    Price

  • Jan 3, 2024

    Date

    Active

    CRMLS: PW24001779

    $1,950

    Price

  • Listing provided courtesy of CRMLS

    Fully Remodeled One Large Bedroom with a Small Office Space Downstairs Apartment In the Heart of Downtown Riverside! New Interior Paint, New Vinyl Flooring throughout, New Bathroom Vanity. New Quartz Kitchen Counter Tops, Beautiful Cabinets . New Appliance with Stove/Oven, Microwave are included. Recessed Lighting and Ceiling Fans, Window AC and Wall Furnace. There is a Balcony and the Small Space can be use as Office or Extra Storage. On-Site Laundry Facility is in the Apartment. One Assigned Garage Parking Space, plus Street Parking. Individual Utilities Meter are available. Convenient Location Close to Downtown Riverside and Easy access to 60 & 91 Freeway.

  • February, 2024

  • Feb 20, 2024

    Date

    Sold

    CRMLS: OC23133911

    $1,495,000

    Price

  • Aug 2, 2023

    Date

    Active

    CRMLS: OC23133911

    $1,695,000

    Price

  • January, 2024

  • Jan 3, 2024

    Date

    Canceled

    CRMLS: PW23197437

    $1,950

    Price

  • Oct 23, 2023

    Date

    Active

    CRMLS: PW23197437

    $1,750

    Price

  • Listing provided courtesy of CRMLS

    Fully Remodeled One Large Bedroom with One Office Space Downstairs Apartment with Balcony In the Heart of Downtown Riverside! New Interior Paint, New Vinyl Flooring throughout, New Bathroom Vanity. New Quartz Kitchen Counter Tops, Beautiful Cabinets . New Appliance with Stove/Oven, Microwave are included. Recessed Lighting and Ceiling Fans, Window AC and Wall Furnace. There is a Small Space can be use as Office or Extra Storage. On-Site Laundry Facility is in the Apartment. One Assigned Garage Parking Space, plus Street Parking. Individual Utilities Meter are available. Convenient Location Close to Downtown Riverside and Easy access to 60 & 91 Freeway.

  • February, 2023

  • Feb 2, 2023

    Date

    Leased

    CRMLS: PW22230609

    $1,950

    Price

  • Oct 27, 2022

    Date

    Active

    CRMLS: PW22230609

    $1,950

    Price

  • Listing provided courtesy of CRMLS

    Fully Remodeled Two Bedroom and 1 Bath Upstairs Apartment In the Heart of Downtown Riverside! New Interior Paint, New Vinyl Flooring throughout, New Bathroom Vanity. New Quartz Kitchen Counter Tops, Beautiful Cabinets . New Appliance with Stove/Oven, Microwave are included. Recessed Lighting and Ceiling Fans, Window AC and Wall Furnace. On-Site Laundry Facility is in the Apartment. One Assigned Garage Parking Space, plus Street Parking. Individual Utilities Meter are available. Convenient Location Close to Downtown Riverside and Easy access to 60 & 91 Freeway.

  • September, 2022

  • Sep 30, 2022

    Date

    Leased

    CRMLS: PW22201610

    $1,900

    Price

  • Sep 14, 2022

    Date

    Active

    CRMLS: PW22201610

    $1,900

    Price

  • Listing provided courtesy of CRMLS

    Fully Remodeled Two Bedroom and 1 Bath Downstairs Apartment In the Heart of Downtown Riverside! New Interior Paint, New Vinyl Flooring throughout, New Bathroom Vanity. New Quartz Kitchen Counter Tops, Beautiful Cabinets . New Appliance with Stove/Oven, Microwave are included. Recessed Lighting and Ceiling Fans, Window AC and Wall Furnace. On-Site Laundry Facility is in the Apartment. One Assigned Garage Parking Space, plus Street Parking. Individual Utilities Meter are available. Convenient Location Close to Downtown Riverside and Easy access to 60 & 91 Freeway.

  • August, 2022

  • Aug 11, 2022

    Date

    Leased

    CRMLS: PW22161669

    $1,750

    Price

  • Jul 22, 2022

    Date

    Active

    CRMLS: PW22161669

    $1,750

    Price

  • Listing provided courtesy of CRMLS

    Fully Remodeled Two Bedroom and 1 Bath Downstairs Apartment In the Heart of Downtown Riverside! New Interior Paint, New Vinyl Flooring throughout, New Bathroom Vanity. New Quartz Kitchen Counter Tops, Beautiful Cabinets . New Appliance with Stove/Oven, Microwave are included. Recessed Lighting and Ceiling Fans, Window AC and Wall Furnace. On-Site Laundry Facility is in the Apartment. One Assigned Garage Parking Space, plus Street Parking. Individual Utilities Meter are available. Convenient Location Close to Downtown Riverside and Easy access to 60 & 91 Freeway.

  • February, 2022

  • Feb 28, 2022

    Date

    Sold

    CRMLS: NP22007770

    $1,255,000

    Price

  • Jan 13, 2022

    Date

    Active

    CRMLS: NP22007770

    $1,325,000

    Price

  • Listing provided courtesy of CRMLS

    LOCATED IN THE HEART OF DOWNTOWN RIVERSIDE. WELL PRICED, MULTIPLE OFFERS EXPECTED, WILL SELL FAST. GARDEN STYLE PROPERTY WITH AN EXCELLENT UNIT MIX. GARAGE PARKING, ON-SITE LAUNDRY. 20%+ UPSIDE IN RENTS IN FAST GROWING DOWNTOWN RIVERSIDE!

  • August, 2020

  • Aug 19, 2020

    Date

    Sold

    CRMLS: AR20058494

    $977,540

    Price

  • Jun 17, 2020

    Date

    Pending

    CRMLS: AR20058494

    $999,000

    Price

  • May 29, 2020

    Date

    Active Under Contract

    CRMLS: AR20058494

    $999,000

    Price

  • Mar 17, 2020

    Date

    Active

    CRMLS: AR20058494

    $999,000

    Price

  • Listing provided courtesy of CRMLS

    Absolutely beautiful Multi-Unit investment property. Situated in the Mile Square Northwest Historical District. Located in a highly desirable location. Location within walking distance of numerous Jobs, Government buildings, the Famous Mission Inn, Fox Theater, Convention Center, some of the best restaurants in town. This property is definitely an investors dream. With 6 units currently occupied by very solid renters. Each unit newly remodeled and very well maintained. Seeing this property is a must.

  • August, 2020

  • Aug 18, 2020

    Date

    Sold (Public Records)

    Public Records

    $978,000

    Price

  • July, 2018

  • Jul 23, 2018

    Date

    Sold (Public Records)

    Public Records

    --

    Price

Show More

Tax History for 3881 5th St

Assessed Value (2020): $660,654
Year Land Value Improved Value Assessed Value
2020 $104,040 $556,614 $660,654

Home Value Compared to the Market

This property vs the competition

3881 5th St sold on February 20, 2024 for 130% higher than the current median sold price for the city of Riverside which is $650,000. The median sold price per/sqft for Riverside is $383 and this home is sold at $344.47 per/sqft which puts the price per square foot 10.06% lower than the current median sale per square foot for the city of Riverside.

About 3881 5th St

Detailed summary of property

3881 5th St is a mixed use that recently sold in Riverside, CA 92501. This mixed use property offered 8 bedrooms, 6 bathrooms, roughly 4,340 living square feet, and sits on an approximately 7,840 square foot lot. 3881 5th St was first listed on ArdentRealEstateGroup.com on August 2, 2023. The homeowner sold the property for $1,495,000. Home in Riverside are selling for a median price of $650,000 and a median price per square foot of $383. Based on Ardent Real Estate Group's Riverside Market Data, this home is sold 130% higher than the current median priced home. Local homes that are currently for sale include 16291 Countess Dr #310, 1048 Coronado Ave and 1073 Orizaba Ave. While the average home in Riverside, CA is selling in 47 days, 3881 5th St has a days on market of 154 days. There are currently 637 homes for sale in the Riverside real estate market and 597 of them are single family homes while 34 of them are condos and 6 are townhomes. For more information on this home for sale at 3881 5th St Riverside, CA 92501 contact Ardent Real Estate Group and we will put you in touch with one of our Riverside agents.

Public Facts for 3881 5th St

Public county record property details
Beds
--
Baths
--
Year built
1938
Sq. Ft.
--
Lot Size
7,840
Stories
1
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Riverside
Lot#
--
APN
213-103-009

The source for these homes facts are from public records.

92501 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$649,990
Median List Price/Sq.Ft.
$355
Median Sold Price
$575,000
Median Sold Price/Sq.Ft.
$319
Total Inventory
29
Median Sale to List Price %
100%
Avg Days on Market
31
Loan Type
Conventional (30%), FHA (40%), VA (10%), Cash (10%), Other (0%)

Thinking of Selling?

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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