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8342 Cypress Ave, Riverside, CA 92503
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8342 Cypress Ave Riverside, CA 92503

$1,120,000 Sold Price as of 09/01/2023
  • 11 Beds
  • 5 Baths
  • 3,652 Sq.Ft.
Sold
$1,120,000 Sold Price as of 09/01/2023 Refinance Your Mortgage
Map preview of 8342 Cypress Ave, Riverside, CA 92503

Property Overview: 8342 Cypress Ave Riverside, CA has 11 bedrooms, 5 bathrooms, 3,652 living square feet and 20,473 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: Welcome to Riverside's hidden gem! This remarkable 5-unit rental income property presents an incredible opportunity for investors seeking a profitable venture in a thriving community. Situated in a prime location, this property offers the best of both worlds: tranquility and convenience. Nestled in the heart of Riverside, residents will enjoy easy access to a wide array of amenities, including shopping centers, restaurants, parks, and entertainment options. The property's strategic location ensures excellent rental demand and consistent cash flow. Investors will appreciate the potential for steady income and long-term growth, making this an attractive addition to any investment portfolio. Don't miss this exceptional opportunity to own a lucrative 5-unit rental income property in Riverside!

Listed by Jesse Tinajero | BRE #02128655 | Century 21 Union Realty
Last checked: 11 minutes ago | Last updated: September 5th, 2023 | Source CRMLS | DOM: 34

Home details

Lot Sq. Ft
20,473
HOA Dues
$0/mo
Year built
1945
Garage
8 Car
Property Type:
Mixed Use
Status
Sold
MLS#
SB23103801
City
Riverside
County
Riverside
Time on Site
324 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 5
  • Total # of Buildings: 3
  • # of Leased Units: 5
  • # of Electric Meters: 3
  • # of Gas Meters: 3
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,250
  • Total Rent: $1,250
  • Pro Forma/Market Rent: $2,800
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,500
  • Total Rent: $1,500
  • Pro Forma/Market Rent: $2,400
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,600
  • Total Rent: $1,600
  • Pro Forma/Market Rent: $2,400
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,600
  • Total Rent: $1,600
  • Pro Forma/Market Rent: $2,400
Unit Breakdown 5
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,250
  • Total Rent: $1,250
  • Pro Forma/Market Rent: $2,400
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: --
  • Gross Scheduled Income: $86,400
  • Net Operating Income: $60,520
  • Gross Operating Income: --
Annual Expense Breakdown
  • Total Operating Expense: $25,880
  • Electric: $3,720
  • Gas/Fuel: $1,680
  • New Taxes: $16,000
  • Trash: $600
  • Insurance: $2,200
  • Professional Management: $0
  • Water/Sewer: $1,680

Property Details for 8342 Cypress Ave

Interior Features
Cooling Information
  • Has Cooling
  • Wall/Window Unit(s)
Laundry Information
  • Has Laundry
  • Dryer Included, Individual Room, Washer Included
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 8
  • # of Parking Spaces: 8
  • Has Parking
  • Parking Features: Assigned
Lot Information
  • Lot Features: 2-5 Units/Acre, Corner Lot, Lot 20000-39999 Sqft
  • Lot Size Source: Public Records
  • Common Interest: None
Property Information
  • Common Walls: 2+ Common Walls
  • Total # of Units: 5
  • Parcel Number: 151111016
  • Year Built Source: Public Records
  • 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
Assessment Information
  • No Assessments
  • Assessments: None
Location / Neighborhood
Location Information
  • Directions: Corner of cypress ave and picker st
Neighborhood Information
  • Community Features: Hiking, Horse Trails, Park, Mountainous, Suburban
View more facts & features

Local Riverside Agent

Sale History for 8342 Cypress Ave

Last sold for $1,120,000 on September 1st, 2023

  • September, 2023

  • Sep 1, 2023

    Date

    Sold

    CRMLS: SB23103801

    $1,120,000

    Price

  • Jun 20, 2023

    Date

    Active

    CRMLS: SB23103801

    $1,200,000

    Price

  • August, 1999

  • Aug 10, 1999

    Date

    Sold (Public Records)

    Public Records

    --

    Price

  • November, 1997

  • Nov 14, 1997

    Date

    Sold (Public Records)

    Public Records

    $29,792

    Price

Show More

Tax History for 8342 Cypress Ave

Assessed Value (2020): $311,833
Year Land Value Improved Value Assessed Value
2020 $126,918 $184,915 $311,833

Home Value Compared to the Market

This property vs the competition

8342 Cypress Ave sold on September 1, 2023 for 77.78% 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 $328.59 per/sqft which puts the price per square foot 11.91% lower than the current median sale per square foot for the city of Riverside.

About 8342 Cypress Ave

Detailed summary of property

8342 Cypress Ave is a mixed use that recently sold in Riverside, CA 92503. This mixed use property offered 11 bedrooms, 5 bathrooms, roughly 3,652 living square feet, and sits on an approximately 20,473 square foot lot. 8342 Cypress Ave was first listed on ArdentRealEstateGroup.com on June 20, 2023. The homeowner sold the property for $1,120,000. 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 77.78% higher than the current median priced home. Local homes that are currently for sale include 1380 Cherry Ave, 1613 E 7th St and 1126 E Arcadia Court. While the average home in Riverside, CA is selling in 49 days, 8342 Cypress Ave has a days on market of 34 days. There are currently 656 homes for sale in the Riverside real estate market and 614 of them are single family homes while 36 of them are condos and 6 are townhomes. For more information on this home for sale at 8342 Cypress Ave Riverside, CA 92503 contact Ardent Real Estate Group and we will put you in touch with one of our Riverside agents.

Public Facts for 8342 Cypress Ave

Public county record property details
Beds
--
Baths
--
Year built
1945
Sq. Ft.
--
Lot Size
20,473
Stories
1
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Riverside
Lot#
19
APN
151-111-016

The source for these homes facts are from public records.

92503 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$700,000
Median List Price/Sq.Ft.
$367
Median Sold Price
$632,000
Median Sold Price/Sq.Ft.
$409
Total Inventory
128
Median Sale to List Price %
101.94%
Avg Days on Market
17
Loan Type
Conventional (45.45%), FHA (27.27%), VA (0%), Cash (12.12%), Other (15.15%)

Thinking of Selling?

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(714) 706-1823

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Recently Sold Homes Near 8342 Cypress Ave

8377 Cypress Ave, Riverside, CA 92503
$355,000 Last Sold Price
2 Beds
1 Baths
1130 Sq.Ft.
8377 Cypress Ave
Riverside, CA 92503
3722 Van Buren Blvd, Riverside, CA 92503
$1,330,000 Last Sold Price
64 Beds
66 Baths
3000 Sq.Ft.
3722 Van Buren Blvd
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3729 Van Buren Blvd, Riverside, CA 92503
$525,000 Last Sold Price
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3729 Van Buren Blvd
Riverside, CA 92503
7771 Evans St, Riverside, CA 92504
$250,000 Last Sold Price
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7771 Evans St
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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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