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955 Via Zapata
Riverside, CA 92507 Canyon Crest

$23,000,000 USD

Apartments For Sale  •  39,600 SF

Property Details

  • Property Type Apartments
  • Total Building Size 39,600 SF
  • Lot Size 2.08 AC
  • Building Class C
  • Year Built 1971
  • Zoning R3
50 Transit Score
40 Walk Score

Highlights

TOURS BY APPOINTMENT: April 9th and April 14th - Call to Schedule
95 units on 3.5 acres of land in fantastic Riverside location across street from Canyon Crest Town Centre; Minutes to UC Riverside and Downtown
Value-add opportunity with no city rent control; Going-in cap rate of 5.3%; market cap rate of 6.9%
Attractively priced at $242K per unit and $253 per square foot; Proven rental upside of $389/u/mo; rents approximately 22% under market
Spacious units averaging over 900 square feet; Long-term ownership: First time on the market in over 13 years
Additional opportunites from same Ownership: 54 units on over 2.5 acres (3 min from UC Redlands); 61 units in Upland (7 min to Claremont Colleges

Amenities

  • Air Conditioning
  • Balcony
  • Cable Ready
  • Courtyard
  • Dishwasher
  • Disposal
  • Laundry Facilities
  • Microwave
  • Picnic Area
  • Pool
  • Property Manager on Site
  • Heating
  • Grill
  • Laundry Service
  • Ceiling Fans
  • Refrigerator
  • Range
  • Walk-In Closets

Public Transportation

Commuter RailDriveWalkDistance
Riverside-Downtown (91 Line - Southern California Regional Rail Authority (Metrolink), Inland Empire-Orange County Line - Southern California Regional Rail Authority (Metrolink), Riverside Line - Southern California Regional Rail Authority (Metrolink)) 7 min - 3.6 mi
Riverside-Hunter Park/Ucr (Metrolink 91-Perris Valley Line - Metrolink Trains) 8 min - 4.1 mi
AirportDriveWalkDistance
Ontario International 29 min - 21.1 mi

Parking Details

Parking Available: Yes
Reserved: No
Type: Surface
Included in Rent: Yes
Adrienne Barr 310-470-8963 Berkadia
Adrienne Barr 310-470-8963 Berkadia