9 Houses on 1 Lot | 3502-3520 Crestmore Rd
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9 Houses on 1 Lot 3502-3520 Crestmore Rd
9 Unit Apartment Building $2,050,000 ($227,778/Unit) 5.54% Cap Rate Jurupa Valley, CA 92509
Investment Highlights
- First Time on Market in 20 Years
- All Units are 2- and 3-Bedroom Houses | Average Conforming Unit Size of 838 Square Feet
- Offered at 5.54% Cap Rate on Current Income, 7.15% Cap Rate at Market Rents
- Large 1.8 Acre Lot Comprised of Six Individual Houses, One Duplex, and One Non- Conforming House (Approximately 1,200 Square Feet)
- Opportunity to Increase Rental Income by Approximately 22% to Achieve Market Rents
- Low Density Lot with Potential Opportunity to Add ADUs (Buyer to Verify with City)
Executive Summary
CBRE, Inc, is proud to exclusively present a unique 8-unit + 1-non-conforming-unit multifamily investment opportunity located at 3520 Crestmore Road in Jurupa Valley, CA. Situated just west of the thriving Downtown Riverside, this property benefits from its strategic position north of Mission Avenue and west of the Santa Ana River, as well as its proximity to major freeways (60, 91 and 215). 3520 Crestmore Road offer investors a rare chance to acquire a large, oversized lot comprised of individual bungalow style houses within in a well sought-after neighborhood.
3520 Crestmore Road consist of ±6,702 rental square feet with an additional 1,200 non-conforming rental square feet on a ±78,408 square foot lot. The property features low-maintenance landscaping, tenant-paid-for utilities, professional management, ample
off-street parking, mountain views, and an oversized lot with the potential ability to add Accessory Dwelling Units (buyer to verify with city). Individual units feature a private detached garages (in select units), individual storage units (in select units), in-unit washers and dryers, air conditioning and heating, and private fenced in yards.
Riverside’s strategic location within Southern California positions it as a compelling destination for working professionals. The city’s convenient access to major freeways like the 60, 91, and 215 offers seamless connectivity to Riverside County, San Bernardino County, Los Angeles County, and beyond. This prime location, coupled with a dynamic community, draws a diverse talent pool.
Top employers in the healthcare, manufacturing, retail, education and government industries, contribute to Riverside’s thriving economy. The city’s cost of living, while competitive with other Southern California areas, makes it an attractive option for working-class professionals seeking a balance between affordability and quality of life.
Residents also enjoy easy access to a variety of cultural attractions within a 20-mile radius. These include the Galleria at Tyler, the historic Mission Inn Hotel and Spa, the convenient Downtown Metrolink Station, the iconic Riverside Fox Theatre, Riverside City College, and the prestigious University of California, Riverside. This combination of career opportunities, cultural amenities, and a strategic location makes Riverside a highly sought-after place to live and work.
3520 Crestmore Road is a prime Riverside income-producing property and a great long-term investment. The property is in a desirable area and offers stability for any type of investor, whether it may be a first-time purchaser, seasoned investor, or a 1031 exchange buyer.
3520 Crestmore Road consist of ±6,702 rental square feet with an additional 1,200 non-conforming rental square feet on a ±78,408 square foot lot. The property features low-maintenance landscaping, tenant-paid-for utilities, professional management, ample
off-street parking, mountain views, and an oversized lot with the potential ability to add Accessory Dwelling Units (buyer to verify with city). Individual units feature a private detached garages (in select units), individual storage units (in select units), in-unit washers and dryers, air conditioning and heating, and private fenced in yards.
Riverside’s strategic location within Southern California positions it as a compelling destination for working professionals. The city’s convenient access to major freeways like the 60, 91, and 215 offers seamless connectivity to Riverside County, San Bernardino County, Los Angeles County, and beyond. This prime location, coupled with a dynamic community, draws a diverse talent pool.
Top employers in the healthcare, manufacturing, retail, education and government industries, contribute to Riverside’s thriving economy. The city’s cost of living, while competitive with other Southern California areas, makes it an attractive option for working-class professionals seeking a balance between affordability and quality of life.
Residents also enjoy easy access to a variety of cultural attractions within a 20-mile radius. These include the Galleria at Tyler, the historic Mission Inn Hotel and Spa, the convenient Downtown Metrolink Station, the iconic Riverside Fox Theatre, Riverside City College, and the prestigious University of California, Riverside. This combination of career opportunities, cultural amenities, and a strategic location makes Riverside a highly sought-after place to live and work.
3520 Crestmore Road is a prime Riverside income-producing property and a great long-term investment. The property is in a desirable area and offers stability for any type of investor, whether it may be a first-time purchaser, seasoned investor, or a 1031 exchange buyer.
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$177,120
|
$18.84
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$8,856
|
$0.94
|
| Effective Gross Income |
$168,264
|
$17.90
|
| Taxes |
$22,998
|
$2.45
|
| Operating Expenses |
$31,659
|
$3.37
|
| Total Expenses |
$54,657
|
$5.81
|
| Net Operating Income |
$113,607
|
$12.09
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | $177,120 |
| Annual Per SF | $18.84 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $8,856 |
| Annual Per SF | $0.94 |
| Effective Gross Income | |
|---|---|
| Annual | $168,264 |
| Annual Per SF | $17.90 |
| Taxes | |
|---|---|
| Annual | $22,998 |
| Annual Per SF | $2.45 |
| Operating Expenses | |
|---|---|
| Annual | $31,659 |
| Annual Per SF | $3.37 |
| Total Expenses | |
|---|---|
| Annual | $54,657 |
| Annual Per SF | $5.81 |
| Net Operating Income | |
|---|---|
| Annual | $113,607 |
| Annual Per SF | $12.09 |
Property Facts
| Price | $2,050,000 | Apartment Style | Garden |
| Price Per Unit | $227,778 | Building Class | C |
| Sale Type | Investment | Lot Size | 1.80 AC |
| Cap Rate | 5.54% | Building Size | 6,702 SF |
| Gross Rent Multiplier | 11.57 | Average Occupancy | 100% |
| No. Units | 9 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1947 |
| Property Subtype | Apartment | Parking Ratio | 1.49/1,000 SF |
| Price | $2,050,000 |
| Price Per Unit | $227,778 |
| Sale Type | Investment |
| Cap Rate | 5.54% |
| Gross Rent Multiplier | 11.57 |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 1.80 AC |
| Building Size | 6,702 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1947 |
| Parking Ratio | 1.49/1,000 SF |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 5 | $1,583 | 732 |
| 3+1 | 3 | $1,680 | 1,014 |
| 3+2 | 1 | $1,790 | 1,200 |
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PROPERTY TAXES
| Parcel Number | 179-320-045 | Total Assessment | $937,830 |
| Land Assessment | $535,904 | Annual Taxes | $22,998 ($3.43/SF) |
| Improvements Assessment | $401,926 | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
179-320-045
Land Assessment
$535,904
Improvements Assessment
$401,926
Total Assessment
$937,830
Annual Taxes
$22,998 ($3.43/SF)
Tax Year
2023
zoning
| Zoning Code | R1 |
| R1 |
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9 Houses on 1 Lot | 3502-3520 Crestmore Rd
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