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Sold on 09/01/2023
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8342 Cypress Ave, Riverside, CA 92503

$1,120,000

Last sold 09/01/2023 after 83 Days

  • —

    bed

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    bath

Multi-family not for sale
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About 8342 Cypress Ave

Property type Multi-family
Neighborhood
Year built 1945
HOA fee $0/month
Lot size 0.47 Acre
Parking 8 garage spaces
Rental estimate
Property description
Welcome to Riverside's hidden gem! This remarkable 5-unit rental income property presents an incredible opportunity for investors seeking a profitable venture in a thriving community. Situated in a prime location, this property offers the best of both worlds: tranquility and convenience. Nestled in the heart of Riverside, residents will enjoy easy access to a wide array of amenities, including shopping centers, restaurants, parks, and entertainment options. The property's strategic location ensures excellent rental demand and consistent cash flow. Investors will appreciate the potential for steady income and long-term growth, making this an attractive addition to any investment portfolio. Don't miss this exceptional opportunity to own a lucrative 5-unit rental income property in Riverside!
Listed by
Listing Agent - Jesse Tinajero
Listing Agent Contact: 951-522-1347
Listing Office - Century 21 Union Realty
Source: CRMLS mls logo
MLS#SB23103801 • last updated 3 years ago
Movoto checked CRMLS for data 1 minute ago
Overview
Type Residential Income
SubType Commercial/Residential
Status Closed
Lot Size (Acres) 0.47
Lot Size (SqFt) 20473
Year Built 1945
Interior
Exterior
Building Area Square Feet, 3652
Parking Assigned
# Parking Spaces 8
# Garage Spaces 8
Lot Description 2-5 Units/Acre, Corner Lot, Lot 20000-39999 Sqft
Amenities / Utilities
Sewer/ Septic Public Sewer
Water Source Public
Pool None
Location
County Riverside
Community Features Hiking, Horse Trails, Park, Mountainous, Suburban
Directions Corner Of Cypress Ave And Picker St
APN 151111016
Multifamily Details
Expense: Trash 600
Operating Expense 25880
Expense: Insurance 2200
Total Expenses 25880
Expense: Water/ Sewer 1680
Gross Income 86400
Expense: Electric 3720
Gross Scheduled Income 86400
Expense: Fuel 1680
Rental est.: $1,672/month
Gross rent multiplier: 55.8
  • Sep 2023
    mls logo MLS # SB23103801
  • Sep 4, 2023 Sold
    $1,120,000
  • Jul 25, 2023 Active
    —
  • Jun 10, 2023 Listed
    $1,200,000
  • Sep 2023
    Public Records
  • Sep 1, 2023 Sold
    $1,120,000 (-6.7%)
  • Year Property taxes Tax assessment
  • 2024
    $13,779 +230.0%
    $1,142,400 +248.52%
  • 2023
    $4,176 +6.3%
    $327,788 +2.0%
  • 2022
    $3,929 +1.6%
    $321,362 +2.0%
  • 2021
    $3,866 +1.6%
    $315,062 +1.04%
  • 2020
    $3,806
    $311,833
  • 8342 Cypress Ave
    $1.12M
  • Arlanza
    $572K -2% y/y
  • 92503
    $665K +2% y/y
  • Riverside
    $682K +2% y/y
No chart available
Statistics calculated by Movoto

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3/10
Arlanza Elementary School
public Grades K-5
Alvord Unified School District
2/10
Wells Middle School
public Grades 6-8
Alvord Unified School District
5/10
Norte Vista High School
public Grades 9-12
Alvord Unified School District
Source: GreatSchools.org © 2026. All rights reserved.

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CRMLS Multiple Listing Service™ system
The real estate listing data marked with this icon comes from the IDX program of the CRMLS Multiple Listing Service™ system.
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