Log In/Sign Up
Your email has been sent.
University Gardens Apartments 3681-3725 Cranford Ave 88 Unit Apartment Building $17,599,000 ($199,989/Unit) 5.79% Cap Rate Riverside, CA 92507
Investment Highlights
- 59 of 88 units have been completely rehabbed with new flooring, windows, cabinets, stove, microwave, countertops, sink, toilet, vanity & shower
- Earthquake retro?t and seismic upgrades
- Priced below replacement cost (under $262 per foot)
- Day One 9.7 GRM & 5.79% Cap Rate
- Less than 1.5 miles from 91 and 215 freeways
- Balanced unit mix of 2, 1 bedroom and studio units priced at $199,989 per unit
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$1,803,600
|
$17.14
|
| Other Income |
$29,376
|
$0.28
|
| Vacancy Loss |
$54,108
|
$0.51
|
| Effective Gross Income |
$1,778,868
|
$16.90
|
| Taxes |
$199,989
|
$1.90
|
| Operating Expenses |
$559,515
|
$5.32
|
| Total Expenses |
$759,504
|
$7.22
|
| Net Operating Income |
$1,019,364
|
$9.69
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $1,803,600 |
| Annual Per SF | $17.14 |
| Other Income | |
|---|---|
| Annual | $29,376 |
| Annual Per SF | $0.28 |
| Vacancy Loss | |
|---|---|
| Annual | $54,108 |
| Annual Per SF | $0.51 |
| Effective Gross Income | |
|---|---|
| Annual | $1,778,868 |
| Annual Per SF | $16.90 |
| Taxes | |
|---|---|
| Annual | $199,989 |
| Annual Per SF | $1.90 |
| Operating Expenses | |
|---|---|
| Annual | $559,515 |
| Annual Per SF | $5.32 |
| Total Expenses | |
|---|---|
| Annual | $759,504 |
| Annual Per SF | $7.22 |
| Net Operating Income | |
|---|---|
| Annual | $1,019,364 |
| Annual Per SF | $9.69 |
Property Facts
| Price | $17,599,000 | Building Class | C |
| Price Per Unit | $199,989 | Lot Size | 2.99 AC |
| Sale Type | Investment | Building Size | 67,202 SF |
| Cap Rate | 5.79% | Average Occupancy | 99% |
| Gross Rent Multiplier | 9.7 | No. Stories | 3 |
| No. Units | 88 | Year Built | 1966 |
| Property Type | Multifamily | Parking Ratio | 2.05/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | R3 - Opportunity Zone | ||
| Price | $17,599,000 |
| Price Per Unit | $199,989 |
| Sale Type | Investment |
| Cap Rate | 5.79% |
| Gross Rent Multiplier | 9.7 |
| No. Units | 88 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 2.99 AC |
| Building Size | 67,202 SF |
| Average Occupancy | 99% |
| No. Stories | 3 |
| Year Built | 1966 |
| Parking Ratio | 2.05/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | R3 - Opportunity Zone |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Microwave
- Ceiling Fans
- Kitchen
- Oven
- Range
- Tub/Shower
- Carpet
Site Amenities
- 24 Hour Access
- Controlled Access
- Courtyard
- Laundry Facilities
- Pool
- Property Manager on Site
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 7 | $1,491 | 580 |
| 1+1 | 58 | $1,621 | 704 |
| 2+2 | 23 | $1,995 | 970 |
1 1
Walk Score®
Very Walkable (77)
Bike Score®
Very Bikeable (75)
Property Taxes
| Parcel Numbers | Total Assessment | $13,665,098 | |
| Land Assessment | $2,231,034 | Annual Taxes | $199,989 ($2.98/SF) |
| Improvements Assessment | $11,434,064 | Tax Year | 2025 |
Property Taxes
Parcel Numbers
Land Assessment
$2,231,034
Improvements Assessment
$11,434,064
Total Assessment
$13,665,098
Annual Taxes
$199,989 ($2.98/SF)
Tax Year
2025
1 of 10
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1 of 1
Presented by
University Gardens Apartments | 3681-3725 Cranford Ave
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.
Your message has been sent!
Activate your LoopNet account now to track properties, get real-time alerts, save time on future inquiries, and more.