MULTI-FAMILY OPPORTUNITY 2989 Canyon Crest Dr., Riverside Exclusively Listed By Richard Bell (714) 309-3549 (714) 447-4900 Richard@BellRealtyCA.com Large Townhome style units with fireplaces, tile floors, private patios and garage parking. Tenant amenities include property laundry room plus use of the community pool. Strong rental location within walking distance to UC Riverside. HOA dues include common area maintenance around pool and pool maintenance.
EXCLUSIVELY OFFERS FOR SALE 2989 Canyon Crest Dr. Riverside, CA 92507 Price: $679,000 Down: $169,750 25% Loan: $509,250 Interest Rate 4.8% Additional loan term: Fixed for 30 years then Variable INVESTMENT HIGHLIGHTS FINANCIAL INDICATORS Current Market Rents Rents * Large Townhome style units Gross Rent Multiplier: 12.3 11.7 * Fireplaces, tile floors, patios, and garage parking. Cap Rate: 5.1% 5.5% * Property Laundry Room Cost Per Unit $169,750 $169,750 * Walking distance to UC Riverside, freeways. Cost Per Square Foot: $161.67 $161.67 * Box Springs Mountain Reserve - hiking & bike trails. Cash on Cash Return 1.6% 3.2% * HOA includes landscaping & pool maintenance. Rent Per Square Foot $ 1.09 $ 1.14 * Tenant pays Gas, Trash, & Electric. Year Built 1964 Please do not go on-site without an appointment. Drive by only. Do not disturb the residents. A complete marketing package is available for those seriously considering the property. For additional Information contact: Richard Bell (714) 309-3549 Richard@BellRealtyCA.com
PROPERTY FINANCIAL ANALYSIS PROPERTY SUMMARY Number of Units 4 Address: 2989 Canyon Crest Dr. City & State Riverside, CA 92507 Year Built: 1964 Rentable Sq. Ft.: 4,200 Lot Size 7,405 Parking: 6(2 double car garages + 2 Spaces) APN: 250-121-006 Cross Street: N/ Blaine St. & E/ Iowa Ave. INVESTMENT SUMMARY PROPOSED FINANCING PRICE: $679,000 New Loan: $509,250 Down Payment $169,750 Rate: 4.75% Percent Down 25% Term Fixed 30 Price/Unit $169,750 Price/Sq. Ft: $162 FINANCIAL ANALYSIS (ANNUAL) Actual Market ANNUAL OPERATING EXPENSE Gross Schedule Income (GSI) $ $55,152 $57,900 Taxes $ 7,469 Vacancy Allowance 3.0 % $1,655 $1,655 Insurance $ 1,600 Gross Operating Income (GOI) $53,497 $56,245 Utilities $ 2,192 Operating Expenses 34.4 % $18,972 $18,972 Maintenance $ 1,500 Net Operating Income (NOI) $34,525 $37,273 Pest Control Loan Payment (P&I) ($31,878) ($31,878) Licenses Gross Spendable Income (SI) $2,647 $5,395 Gardener Cap Rate (NOI/LP) 5.1% 5.5% Manager $ - Gross Multiplier (LP/GSI) 12.3 X Gross 11.7 HOA Dues $ 4,728 Cash on Cash Return 1.6% 3.2% Replacement $ 1,300 Misc $ 300 PRINCIPAL PAYDOWN FOR FIRST YEAR IS $7,970, AN EXTRA 4.6% RETURN ON INVESTMENT. Total $ 19,089 UNIT MIX & RENT SCHEDULE Units Bedroom/Baths Actual Rent Monthly Income Market Rent Monthly Income 1 2 Br / 1.5 BA $1,100 $1,100 $1,200 $1,200 1 2 Br / 1.5 BA $1,200 $1,200 $1,200 $1,200 1 2 Br / 1.5 BA $1,074 $1,074 $1,200 $1,200 1 2 Br / 1.5 BA $1,197 $1,197 $1,200 $1,200 Total Scheduled Rent: $4,571 $4,800 Laundry & Other Income: $25 $25 Monthly Scheduled Gross Income: $4,596 $4,825 Annual Scheduled Gross Income: $ 55,152 $57,900 REMARKS: Large Townhome style units with fireplaces, tile floors, private patios and garage parking. Tenant amenities include on site laundry room plus use of the community pool. Strong rental location within walking distance to UC Riverside and easy access to freeway and Box Springs Mountain Reserve, with hiking and mountain bike trails. HOA dues include common area maintenance around pool and pool maintenance. Tenants pay, gas and electric. Please do not disturb manager or tenants. Drive by only. To Show Contact Call Agent Office 714-447-4900 Owner/Manager On File Listing Office Bell Realty Group Cell 714-309-3549 E-mail Richard@Bellrealtyca.com Sales Person Richard Bell Fax 714-447-4906 All information is from sources believed reliable, but is not guaranteed. Information is confidential and for licenced agents use only--not for public distribution.
2989 Canyon Crest Dr. Riverside, CA 92507 APARTMENT NUMBER # BED ROOMS # BATH ROOMS EST. SQUARE FEET MONTHLY RENT RENT PER SQUARE FOOT EST. MARKET RENT MARKET RENT SQUARE FOOT Rent Schedule VARIANCE PERCENT VARIANCE A 2 1.5 1050 $1,100 $1.05 $1,200 1.14 $100 9% B 2 1.5 1050 $1,200 $1.14 $1,200 1.14 $0 0% C 2 1.5 1050 $1,074 $1.02 $1,200 1.14 $126 12% D 2 1.5 1050 $1,197 $1.14 $1,200 1.14 $3 0% MONTHLY INCOME $4,571 $4,800 LAUNDRY $0 $0 OTHER INCOME $0 $0 MONTHLY TOTAL $4,571 $4,800 VARIANCE ANNUAL TOTAL $54,852 $57,600 2748 5%
Property Photos Arial Map Plat Map
Property Photos Street Map Location Map