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Listed by Jonathan Mitchell • Kidder Mathews of California, Inc
$ 17,599,000
Est. payment /mo
Active
3681 Cranford Avenue Riverside, CA 92507
67,202 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 67,202 sqft
Price per Sqft $261
MLS Listing ID CROC26004201
HOA Y/N No
Year Built 1965
Lot Size 2.990 Acres
Property Sub-Type Other
Source Datashare California Regional
Property Description
Built in 1964, The University Gardens consist of approximately 67,202 of rentable square feet and is in good condition since the current ownership has made several recent renovations to the interiors & exteriors. The unit mix consists of 2 Bedroom, 1 Bedroom & Studio units. The property is situated on approximately 3 acres of land that includes tuck under parking, carports, open on-site parking in addition to street parking. The property is also separately metered for gas and electric with a community laundry rooms, pools & rental office. Select units have been tastefully remodeled with new flooring, windows, cabinets, stove, microwave, countertops, sink, toilet, vanity, shower, AC, recessed lighting & ceiling fans throughout. Most of the “heavy lifting†is almost complete and should appeal to an investor looking for an asset surrounded by tremendous job opportunity and 10% realistic rental upside. Priced way below replacement cost (under $262 per foot) & less than 1.5 miles from 91 and 215 freeways. Earthquake retrofit and seismic upgrades have been made & all newer roofs and rain gutters.
Location
State CA
County Riverside
Interior
Heating None
Cooling Wall/Window Unit(s)
Fireplace No
Laundry Common Area, Other
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