1117 Linden StRiverside, CA 92507

Property Details for 1117 Linden St

Year built

1964

Construction

WOOD

Lot size

0.55 AC

Property size (Sq ft)

22,320 SF

Zone code

R3

Property type

Apartment buildings

APN

250-212-011

APU

250212011

Description

The Lindy Apartments, a 50-unit multifamily property located at 1117 & 1177 W Linden St, Riverside, CA 92507, is offered for sale at $14,000,000. This exceptional investment opportunity boasts a 4.32% cap rate and a strong net operating income (NOI) of $605,437, with 100% occupancy. Built in 1964, the property comprises approximately 46,000 square feet and features a mix of studio, one, two, and three-bedroom units, totaling 50 units at a price per unit of $280,000. Unit sizes include seven studios, seven one-bedroom/one-bathroom units, thirty-four two-bedroom/two-bathroom units, and two three-bedroom/two-bathroom units. Amenities include ample parking, on-site laundry facilities, and a leasing office. The property benefits from a central Riverside location, close to the University of California, Riverside (UCR), the Mission Inn, and numerous restaurants and entertainment options. Further enhancing security, the complex features courtesy patrol and security cameras. Central air conditioning is provided throughout the building. This is a rare opportunity to acquire a well-maintained, high-performing multifamily asset in a desirable location with strong rental demand. The property is being sold as an owner/user investment.

• CAP approach

  CAP return

  Valuation

  6%

  $7,462,718

  6.5%

  $6,888,662

  7%

  $6,396,615

• Comparable approach

  Method

  Valuation

  Relative Method

  $6,028,636

  Geo Method

  $12,176,754

• Alternative Use

  Use

  Valuation

  Residential

  $6,888,662

  Hospitality

  $6,309,978

  Educational

  $5,249,827

  Medical

  $5,430,377

  Retail

  $8,166,398

Location Insight

City

Riverside

County

Riverside

State

California

Latitude

33.9796

Longitude

-117.336

CBSA code

40140

CBSA name

RIVERSIDE-SAN BERNARDINO-ONTARIO, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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