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5111 La Sierra Avenue , #3

Riverside, CA 92505
  • $1,180,000
  • STATUS: Active Under Contract
  • ON SITE: 182 Days
  • ID#: TR24165230
Under Contract
UPDATED: 45 min ago
$1,180,000
  • 0
    BEDS
  • 0.97
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1948
County:

School Ratings & Info

Listing Agent(s): Tony Lam of Keller Williams Signature Realty (626-964-5500)


Description

Truly great investment opportunity! 3 separate units, each has its own street address! 4 buildings, total 3,655sf living space and a huge 42,253sf flat lot! Huge development opportunities! There are 3 water meters, 3 gas meters, 3 electric meters; each unit pays all of its own utilities! Each unit has its own trash account and each tenant even pays its own trash bill! A huge saving for the Landlord here, more money in the Landlords pocket. Front unit is located at the corner of La Sierra Ave and Norwood Ave directly across a Seven and Eleven with a 100.17ft frontage! Buyer could investigate re-zoning possibility making this corner lot a much more valuable commercial zone. Conveniently located one small block north of The 5 Point approximately 1/2 mile from the La Sierra University, walkable distance to the La Sierra High School, and only short minutes drive to Galleria at Tyler, AMC 16, restaurants, entertainment centers and the Castle Park. Each unit has its laundry hookup and garage, total 6 garage parking with at least 20+ extra on property parking spaces, each unit even has its front lawn and back yard. (some garages might have been converted).Unit 11035 Norwood has a brand new roof installed in 2024! Unit 11059 Norwood Ave has new major pumping work done this year in 2024! It also has a new wood fence installed in 2022.There is a 4th building where an occupant that have been living there for 25+ years has just vacated!!! An additional opportunity.The huge 266.63ft deep lot with 42,253sf flat usable area is the game changer and a huge development opportunity. Call today and do not miss this truly great investment opportunity!!

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Based on information from California Regional Multiple Listing Service, Inc. as of 2025-02-08T07:31:33.103. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Lori Thompson | Coldwell Banker Realty. Licensed in the State of California, USA.
www.housesforsalesocal.com/homes/153541169
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5111 La Sierra Avenue , #3 Riverside, CA 92505

  • Price: $1,180,000
  • Status: Active Under Contract
  • On Site: 182 Days
  • Updated: 45 min ago
  • ID#: TR24165230
0
Beds
0
Baths
0
½ Baths
0.97
Acres
1948
Built
Neighborhood:
252 - Riverside
County:
Riverside
Area:
252 - Riverside
Property Description
Truly great investment opportunity! 3 separate units, each has its own street address! 4 buildings, total 3,655sf living space and a huge 42,253sf flat lot! Huge development opportunities! There are 3 water meters, 3 gas meters, 3 electric meters; each unit pays all of its own utilities! Each unit has its own trash account and each tenant even pays its own trash bill! A huge saving for the Landlord here, more money in the Landlords pocket. Front unit is located at the corner of La Sierra Ave and Norwood Ave directly across a Seven and Eleven with a 100.17ft frontage! Buyer could investigate re-zoning possibility making this corner lot a much more valuable commercial zone. Conveniently located one small block north of The 5 Point approximately 1/2 mile from the La Sierra University, walkable distance to the La Sierra High School, and only short minutes drive to Galleria at Tyler, AMC 16, restaurants, entertainment centers and the Castle Park. Each unit has its laundry hookup and garage, total 6 garage parking with at least 20+ extra on property parking spaces, each unit even has its front lawn and back yard. (some garages might have been converted).Unit 11035 Norwood has a brand new roof installed in 2024! Unit 11059 Norwood Ave has new major pumping work done this year in 2024! It also has a new wood fence installed in 2022.There is a 4th building where an occupant that have been living there for 25+ years has just vacated!!! An additional opportunity.The huge 266.63ft deep lot with 42,253sf flat usable area is the game changer and a huge development opportunity. Call today and do not miss this truly great investment opportunity!!
Exterior Features

Entry Level 1 Entry Location Ground Lot Features 2-5 Units/AcreCorner LotLawnLot Over 40000 Sqft Number Of Separate Electric Meters 3 Open Parking Spaces 20 Parking Features Garage Parking Total 26 Pool Features None Pool Private YN No Property Attached YN No

Interior Features

Common Walls No Common Walls Cooling Wall/Window Unit(s) Cooling YN Yes Heating Wall Furnace Heating YN Yes Interior Features All Bedrooms Down

Property Features

Additional Parcels YN No Association Fee 0 Association YN No Cap Rate 4.45 Common Interest None Community Features CurbsStreet Lights Contingency 1031 exchange Electric Expense 0 Fuel Expense 0 Garage YN Yes Gross Income 69384 Gross Scheduled Income 69384 Insurance Expense 2114.4 Land Lease YN No Laundry Features Inside Levels One Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms 1031 Exchange Maintenance Expense 2155 Net Operating Income 57372 New Construction YN No Number Of Separate Gas Meters 3 Number Of Separate Water Meters 3 Operating Expense 12012 Other Expense 2996 Property Sub Type Triplex Rent Control YN No Senior Community YN No Sewer Unknown Special Listing Conditions Standard Tenant Pays All UtilitiesElectricityGasGrounds CareHVAC MaintenanceNoneTrash CollectionWater Total Actual Rent 5782 Trash Expense 0 Water Sewer Expense 0 Water Source See Remarks Zoning R3



Based on information from California Regional Multiple Listing Service, Inc. as of 2025-02-08T07:31:33.103. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Lori Thompson | Coldwell Banker Realty. Licensed in the State of California, USA.
 
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Lori Thompson | Coldwell Banker Realty
19440 Goldenwest Street
Huntington Beach CA, 92648
Listing Agent(s): Tony Lam of Keller Williams Signature Realty (626-964-5500)