10545 Magnolia Ave | Riverside, CA 92505
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- LoopNet Team
10545 Magnolia Ave
Riverside, CA 92505
Permanent Housing Conversion · Multifamily Property For Sale
·
68 Units
INVESTMENT HIGHLIGHTS
- BACK ON THE MARKET -City Supports Conversion to Affordable Housing/Senior Apartments - NO SENIOR ASSISTED LIVING WITHOUT ZONE CHANGE
- Current Franchised Hotel. Constructed in 1992, offering Modern Amenities and Tuck Under Parking that may be Converted to Living Space
- Pro Forma 7.1 CAP Rate as a Senior/Affordable Housing Apartment Conversion
- Well-maintained 68 Room Property with Elevator - Perimeter Fencing - Entrance on Magnolia may be Gated
- High Street Visibility Near Kaiser Hospital (1 Block)and with Easy 91 Freeway Access
PROPERTY FACTS
| No. Units | 68 | Construction Status | Proposed |
| Property Type | Multifamily | Building Size | 44,044 SF |
| Property Subtype | Apartment | No. Stories | 3 |
| Building Class | C | Parking Ratio | 3.73/1,000 SF |
| Lot Size | 0.80 AC | ||
| Zoning | C2, Riverside - Commercial. City of Riverside has confirmed that Permanent Housing is allowed at the Property. SENIOR LIVING WILL NOT BE ALLOWED. | ||
| No. Units | 68 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.80 AC |
| Construction Status | Proposed |
| Building Size | 44,044 SF |
| No. Stories | 3 |
| Parking Ratio | 3.73/1,000 SF |
| Zoning | C2, Riverside - Commercial. City of Riverside has confirmed that Permanent Housing is allowed at the Property. SENIOR LIVING WILL NOT BE ALLOWED. |
AMENITIES
UNIT AMENITIES
- Heating
- Refrigerator
- Oven
- Tub/Shower
- Freezer
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Smoke Free
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 68 | - | - |
PROPERTY TAXES
| Parcel Number | 143-290-026 | Improvements Assessment | $5,548,546 |
| Land Assessment | $1,270,774 | Total Assessment | $6,819,320 |
PROPERTY TAXES
Parcel Number
143-290-026
Land Assessment
$1,270,774
Improvements Assessment
$5,548,546
Total Assessment
$6,819,320
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