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5250 Golden Ave, Riverside, CA 92505
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5250 Golden Ave Riverside, CA 92505

$1,500,000 Sold Price as of 11/05/2019
  • 20 Beds
  • 12 Baths
  • 8,271 Sq.Ft.
Sold
$1,500,000 Sold Price as of 11/05/2019 Refinance Your Mortgage
Map preview of 5250 Golden Ave, Riverside, CA 92505

Property Overview: 5250 Golden Ave Riverside, CA has 20 bedrooms, 12 bathrooms, 8,271 living square feet and 140,263 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: Offering Actual CAP Rate of 5.32 % With a Pro Forma CAP Rate of 6.68 %, The ProForma CAP Rate is Achievable By Increasing Rents to Market. Offering GRM of 13.97 With a Pro Forma GRM of 10.49. Development Potential With 3+ Acres Of Buildable Land. The Property Was Tentative Tract Mapped for 15 Homes With The City of Riverside (See Attached Tract Map). Conservative 15-20 % Upside in Potential Rental Income Per Rental Survey. Rental Comparables Illustrate a 100 % Occupancy Area. Located in a Quiet Residential Neighborhood. Non-Rent Control Community & Area. Two Blocks From La Sierra University. The properties consist of two lots that are adjacent to one another. This ten unit apartment property is composed of 2 one bedroom / one bathroom units, 6 two bedroom / one bathroom units and 2 three bedroom / two bathroom units. Not only does this property possess an attractive unit mix but the property has been tentative tracts in recent years for a possible development of 15+ single family homes with the City of Riverside. This asset allows a potential investor the unique opportunity to cashflow, increase rents, while working towards future development options.

Listed by ALBERT LE | BRE #01468313 | LE INVESTMENT GROUP
Last checked: 14 minutes ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 78

Home details

Lot Sq. Ft
140,263
HOA Dues
$0/mo
Year built
1951
Garage
10 Car
Property Type:
Multi Family
Status
Sold
MLS#
IV19140274
City
Riverside
County
Riverside
Time on Site
1396 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 10
  • Total # of Buildings: 7
  • # of Electric Meters: 6
  • # of Gas Meters: 6
  • # of Water Meters: 6
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $925
  • Total Rent: $925
  • Pro Forma/Market Rent: $925
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,075
  • Total Rent: $1,075
  • Pro Forma/Market Rent: $1,075
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,300
  • Total Rent: $1,300
  • Pro Forma/Market Rent: $1,300
Unit Breakdown 4
  • # of Units: 2
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 2
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,300
  • Total Rent: $2,600
  • Pro Forma/Market Rent: $1,300
Unit Breakdown 5
  • # of Units: 3
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 3
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,500
  • Total Rent: $4,500
  • Pro Forma/Market Rent: $1,500
Unit Breakdown 6
  • # of Units: 2
  • # of Beds: 3
  • # of Baths: 2
  • Garage Spaces: 2
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,750
  • Total Rent: $3,500
  • Pro Forma/Market Rent: $1,750
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 6.68%
  • Gross Rent Multiplier: 10.49
  • Gross Scheduled Income: $166,800
  • Net Operating Income: $116,814
  • Gross Operating Income: --
  • Vacancy Allowance: $1,668
Annual Expense Breakdown
  • Total Operating Expense: $48,318
  • Electric: $5,000
  • Gas/Fuel: $1,200
  • New Taxes: $17,675
  • Trash: $2,800
  • Gardener: $1,200
  • Insurance: $2,253
  • Maintenance: $6,605
  • Professional Management: $4,954
  • Water/Sewer: $5,400
  • Other Expenses: $1,231
  • Other Expense Description: Admin

Property Details for 5250 Golden Ave

Interior Features
Laundry Information
  • Has Laundry
  • Gas & Electric Dryer Hookup
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 10
  • # of Parking Spaces: 10
Lot Information
  • Lot Features: 6-10 Units/Acre
  • Lot Size Source: Assessor
Property Information
  • Common Walls: 1 Common Wall
  • Total # of Units: 10
  • Parcel Number: 141090005
  • Year Built Source: Assessor
  • Property is Attached
  • Has Additional Parcels
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Location / Neighborhood
Location Information
  • Directions: 91 Fwy Exit Pierce St. go North
Neighborhood Information
  • Community Features: Suburban
View more facts & features

Local Riverside Agent

Sale History for 5250 Golden Ave

Last sold for $15,000 on November 5th, 2019

  • November, 2019

  • Nov 6, 2019

    Date

    Sold

    CRMLS: IV19140274

    $1,500,000

    Price

  • Oct 18, 2019

    Date

    Pending

    CRMLS: IV19140274

    $1,750,000

    Price

  • Oct 1, 2019

    Date

    Price Change

    CRMLS: IV19140274

    $1,750,000

    Price

  • Jul 31, 2019

    Date

    Active

    CRMLS: IV19140274

    $1,850,000

    Price

  • Jul 2, 2019

    Date

    Pending

    CRMLS: IV19140274

    $1,850,000

    Price

  • Jun 26, 2019

    Date

    Active Under Contract

    CRMLS: IV19140274

    $1,850,000

    Price

  • Jun 14, 2019

    Date

    Active

    CRMLS: IV19140274

    $1,850,000

    Price

  • November, 2019

  • Nov 5, 2019

    Date

    Sold (Public Records)

    Public Records

    $15,000

    Price

  • June, 2002

  • Jun 6, 2002

    Date

    Sold (Public Records)

    Public Records

    $200,000

    Price

Show More

Tax History for 5250 Golden Ave

Assessed Value (2020): $635,000
Year Land Value Improved Value Assessed Value
2020 $273,000 $362,000 $635,000

Home Value Compared to the Market

This property vs the competition

5250 Golden Ave sold on November 5, 2019 for 159.26% higher than the current median sold price for the city of Riverside which is $675,000. The median sold price per/sqft for Riverside is $373 and this home is sold at $211.58 per/sqft which puts the price per square foot 43.28% lower than the current median sale per square foot for the city of Riverside.

About 5250 Golden Ave

Detailed summary of property

5250 Golden Ave is a multi family that recently sold in Riverside, CA 92505. This multi family property offered 20 bedrooms, 12 bathrooms, roughly 8,271 living square feet, and sits on an approximately 140,263 square foot lot. 5250 Golden Ave was first listed on ArdentRealEstateGroup.com on July 21, 2020. The homeowner sold the property for $1,500,000. Home in Riverside are selling for a median price of $675,000 and a median price per square foot of $373. Based on Ardent Real Estate Group's Riverside Market Data, this home is sold 159.26% higher than the current median priced home. Local homes that are currently for sale include 648 Abbey Lane, 1510 W Baseline St and 2325 Angela St. While the average home in Riverside, CA is selling in 48 days, 5250 Golden Ave has a days on market of 78 days. There are currently 681 homes for sale in the Riverside real estate market and 631 of them are single family homes while 44 of them are condos and 6 are townhomes. For more information on this home for sale at 5250 Golden Ave Riverside, CA 92505 contact Ardent Real Estate Group and we will put you in touch with one of our Riverside agents.

Public Facts for 5250 Golden Ave

Public county record property details
Beds
--
Baths
--
Year built
1952
Sq. Ft.
--
Lot Size
50,965
Stories
1
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Riverside
Lot#
5,7
APN
141-090-005

The source for these homes facts are from public records.

92505 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$676,000
Median List Price/Sq.Ft.
$367
Median Sold Price
$700,000
Median Sold Price/Sq.Ft.
$333
Total Inventory
65
Median Sale to List Price %
103.7%
Avg Days on Market
23
Loan Type
Conventional (52.63%), FHA (15.79%), VA (5.26%), Cash (26.32%), 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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