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7422 Potomac St, Riverside, CA 92504
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7422 Potomac St Riverside, CA 92504

$480,000 Sold Price as of 12/07/2020
  • 4 Beds
  • 2 Baths
  • 1,647 Sq.Ft.
Sold
$480,000 Sold Price as of 12/07/2020 Refinance Your Mortgage
Map preview of 7422 Potomac St, Riverside, CA 92504

Property Overview: 7422 Potomac St Riverside, CA has 4 bedrooms, 2 bathrooms, 1,647 living square feet and 7,405 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: Whether you're looking for a property to raise a family or generate cashflow this property checks all the boxes. This duplex has solid real estate fundamentals. It has an ideal unit mix of (2) 2 bed 1 bath units with a garage. Rents are significantly below market giving the new owner the opportunity to add value to the asset. The property is centrally located in the heart of Riverside. It's close to schools, parks, the Riverside Plaza, and the Tyler Mall. These opportunities rarely come to market. Don't let this one slip away! DO NOT DISTURB THE TENANTS AS THEY ARE UNAWARE OF THE SALE. DRIVE BY ONLY. Call listing agent with any questions.

Listed by Steven Casillas | BRE #01982554 | Realty ONE Group West
Last checked: 2 minutes ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 17

Home details

Lot Sq. Ft
7,405
HOA Dues
$0/mo
Year built
1952
Garage
2 Car
Property Type:
Duplex
Status
Sold
MLS#
IG20223372
City
Riverside
County
Riverside
Time on Site
1426 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 2
  • Total # of Buildings: 1
  • # of Leased Units: 2
  • # of Electric Meters: 2
  • # of Gas Meters: 2
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,000
  • Total Rent: $1,000
  • Pro Forma/Market Rent: $1,450
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,100
  • Total Rent: $1,100
  • Pro Forma/Market Rent: $1,450
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: --
  • Gross Scheduled Income: $25,200
  • Net Operating Income: $22,250
  • Gross Operating Income: $25,200
Annual Expense Breakdown
  • Total Operating Expense: $2,650
  • Electric: $0
  • New Taxes: $5,418
  • Trash: $0
  • Insurance: $850
  • Professional Management: $840
  • Water/Sewer: $960

Property Details for 7422 Potomac St

Interior Features
Cooling Information
  • Has Cooling
  • Wall/Window Unit(s)
Heating Information
  • No Heating
  • None
Laundry Information
  • Has Laundry
  • Washer Hookup
Interior Features
  • Levels: One
Exterior Features
Exterior Information
  • Roof: Composition
  • No Spa
  • Spa Features: None
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 2
  • # of Parking Spaces: 2
Lot Information
  • Lot Features: 0-1 Unit/Acre
  • Lot Size Source: Assessor
  • Common Interest: Community Apartment
Property Information
  • No View
  • View: None
  • Common Walls: 1 Common Wall
  • Total # of Units: 2
  • Parcel Number: 230122009
  • Year Built Source: Public Records
  • Property is Attached
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
  • Utilities: Electricity Connected, Natural Gas Connected
Location / Neighborhood
Location Information
  • Directions: Exit 91 W | Make right on Madison | Right on Potomac
  • Road Frontage Type: City Street
  • Road Surface Type: Paved
Neighborhood Information
  • Community Features: Curbs
View more facts & features

Local Riverside Agent

Sale History for 7422 Potomac St

Last sold for $480,000 on December 7th, 2020

  • December, 2020

  • Dec 8, 2020

    Date

    Sold

    CRMLS: IG20223372

    $480,000

    Price

  • Nov 11, 2020

    Date

    Active Under Contract

    CRMLS: IG20223372

    $475,000

    Price

  • Oct 23, 2020

    Date

    Active

    CRMLS: IG20223372

    $475,000

    Price

  • December, 2020

  • Dec 7, 2020

    Date

    Sold (Public Records)

    Public Records

    $480,000

    Price

  • February, 2019

  • Feb 21, 2019

    Date

    Leased

    CRMLS: IV19029502

    $1,100

    Price

  • Feb 7, 2019

    Date

    Active

    CRMLS: IV19029502

    $1,100

    Price

  • Listing provided courtesy of CRMLS

    Duplex near Madison Elementary School in Riverside. Nice, quiet street off Madison in the City of Riverside. Near the Galleria mall and shops. Has 1 car garage with shared driveway access.

  • August, 2018

  • Aug 2, 2018

    Date

    Leased

    CRMLS: IV18179571

    $1,100

    Price

  • Jul 25, 2018

    Date

    Active

    CRMLS: IV18179571

    $1,100

    Price

  • Listing provided courtesy of CRMLS

    Duplex near Madison Elementary School in Riverside. 2 bedroom, 1 bath with fresh paint, new flooring in kitchen and bathroom and new window coverings throughout available for immediate occupancy. Has 1 car garage and shared driveway access.

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Tax History for 7422 Potomac St

Assessed Value (2020): $62,398
Year Land Value Improved Value Assessed Value
2020 $17,075 $45,323 $62,398

Home Value Compared to the Market

This property vs the competition

7422 Potomac St sold on December 7, 2020 for 26.92% lower than the current median sold price for the city of Riverside which is $650,000. The median sold price per/sqft for Riverside is $389 and this home is sold at $288.4 per/sqft which puts the price per square foot 25.86% lower than the current median sale per square foot for the city of Riverside.

About 7422 Potomac St

Detailed summary of property

7422 Potomac St is a duplex that recently sold in Riverside, CA 92504. This duplex offered 4 bedrooms, 2 bathrooms, roughly 1,647 living square feet, and sits on an approximately 7,405 square foot lot. 7422 Potomac St was first listed on ArdentRealEstateGroup.com on October 23, 2020. The homeowner sold the property for $480,000. Home in Riverside are selling for a median price of $650,000 and a median price per square foot of $389. Based on Ardent Real Estate Group's Riverside Market Data, this home is sold 26.92% lower than the current median priced home. Local homes that are currently for sale include 1643 E 87th Pl, 1122 E 67th St and 110 W 48th St. While the average home in Riverside, CA is selling in 53 days, 7422 Potomac St has a days on market of 17 days. There are currently 791 homes for sale in the Riverside real estate market and 727 of them are single family homes while 55 of them are condos and 9 are townhomes. For more information on this home for sale at 7422 Potomac St Riverside, CA 92504 contact Ardent Real Estate Group and we will put you in touch with one of our Riverside agents.

Public Facts for 7422 Potomac St

Public county record property details
Beds
4
Baths
2
Year built
1952
Sq. Ft.
1,647
Lot Size
7,405
Stories
1
Type
Multi-Family Dwellings (Generic, Any Combination 2+)
Pool
No
Spa
No
County
Riverside
Lot#
29
APN
230-122-009

The source for these homes facts are from public records.

92504 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$677,000
Median List Price/Sq.Ft.
$393
Median Sold Price
$630,000
Median Sold Price/Sq.Ft.
$425
Total Inventory
93
Median Sale to List Price %
98.44%
Avg Days on Market
30
Loan Type
Conventional (33.33%), FHA (30.3%), VA (0%), Cash (21.21%), Other (15.15%)

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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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