Casa Granada Apartments | 4641-4645 Arlington Ave
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Casa Granada Apartments 4641-4645 Arlington Ave
44 Unit Apartment Building $15,451,480 CAD ($351,170 CAD/Unit) 4.39% Cap Rate Riverside, CA 92504
Investment Highlights
- minutes from the 91 freeway
- close to downtown riverside
- undermarket rents
- trust sale
- professionally managed
Executive Summary
Trust sale – First time on market in decades. 44 unit multifamily complex minutes from the 91 freeway and downtown Riverside. Income growth opportunity, tenant repositioning opportunity. The 91 freeway corridor is one of the fastest growing markets in southern California. Gross income has increased each year from 2022, 2023 and on track for 2024 gross income increase by $90,000. Tenant pays gas, electricity, internet. Two building and two APNs. Property is sold in As Is condition, seller will not make any repairs.
Financial Summary (Pro forma - 2024) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$1,072,053
|
$25.57
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$1,072,053
|
$25.57
|
| Net Operating Income |
-
|
-
|
Financial Summary (Pro forma - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $1,072,053 |
| Annual Per SF | $25.57 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $1,072,053 |
| Annual Per SF | $25.57 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
Property Facts
| Price | $15,451,480 CAD | Building Class | C |
| Price Per Unit | $351,170 CAD | Lot Size | 0.77 AC |
| Sale Type | Investment | Building Size | 41,932 SF |
| Cap Rate | 4.39% | Average Occupancy | 98% |
| No. Units | 44 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1971/2020 |
| Property Subtype | Apartment | Parking Ratio | 1.43/1,000 SF |
| Apartment Style | Low Rise |
| Price | $15,451,480 CAD |
| Price Per Unit | $351,170 CAD |
| Sale Type | Investment |
| Cap Rate | 4.39% |
| No. Units | 44 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.77 AC |
| Building Size | 41,932 SF |
| Average Occupancy | 98% |
| No. Stories | 2 |
| Year Built/Renovated | 1971/2020 |
| Parking Ratio | 1.43/1,000 SF |
Unit Amenities
- Air Conditioning
- Views
- Lawn
Site Amenities
- Courtyard
- Laundry Facilities
- Pool
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 30 | - | 594 |
| 2+2 | 14 | - | 918 |
Walk Score ®
Very Walkable (71)
Bike Score ®
Very Bikeable (71)
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $2,657,401 CAD (2023) | |
| Land Assessment | $706,128 CAD (2023) | Total Assessment | $3,363,529 CAD (2023) |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$706,128 CAD (2023)
Improvements Assessment
$2,657,401 CAD (2023)
Total Assessment
$3,363,529 CAD (2023)
zoning
| Zoning Code | R3 |
| R3 |
-
Todd Wohl -
Braun International
(866) 568-6638
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Casa Granada Apartments | 4641-4645 Arlington Ave
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