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Normandy Apartments 1480 7th St 25 Unit Apartment Building $7,685,964 CAD ($307,439 CAD/Unit) 6.04% Cap Rate Riverside, CA 92507
Investment Highlights
- $400,000 Price Reduction
- Less than 1.5 miles from 91 & 215 freeways
- Balanced unit mix of 3, 2 & 1 bedroom units
- Recent capital improvements including newer roof, exterior paint, new asphalt, new secure gated access & select newly renovated interiors
- ±1 mile to University of California, Riverside
- 18 of 25 units have been completely rehabbed with new flooring, windows, cabinets, stove, microwave, countertops, sink, toilet, vanity & shower
Financial Summary (Actual - 2025) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$762,101
|
$34.15
|
| Other Income |
$11,465
|
$0.51
|
| Vacancy Loss |
$22,863
|
$1.02
|
| Effective Gross Income |
$750,704
|
$33.64
|
| Taxes |
$83,782
|
$3.75
|
| Operating Expenses |
$202,359
|
$9.07
|
| Total Expenses |
$286,140
|
$12.82
|
| Net Operating Income |
$464,563
|
$20.82
|
Financial Summary (Actual - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $762,101 |
| Annual Per SF | $34.15 |
| Other Income (CAD) | |
|---|---|
| Annual | $11,465 |
| Annual Per SF | $0.51 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $22,863 |
| Annual Per SF | $1.02 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $750,704 |
| Annual Per SF | $33.64 |
| Taxes (CAD) | |
|---|---|
| Annual | $83,782 |
| Annual Per SF | $3.75 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $202,359 |
| Annual Per SF | $9.07 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $286,140 |
| Annual Per SF | $12.82 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $464,563 |
| Annual Per SF | $20.82 |
Property Facts
| Price | $7,685,964 CAD | Building Class | C |
| Price Per Unit | $307,439 CAD | Lot Size | 0.82 AC |
| Sale Type | Investment | Building Size | 22,315 SF |
| Cap Rate | 6.04% | Average Occupancy | 100% |
| Gross Rent Multiplier | 9.9 | No. Stories | 2 |
| No. Units | 25 | Year Built | 1964 |
| Property Type | Multifamily | Parking Ratio | 2.69/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | R3, Riverside | ||
| Price | $7,685,964 CAD |
| Price Per Unit | $307,439 CAD |
| Sale Type | Investment |
| Cap Rate | 6.04% |
| Gross Rent Multiplier | 9.9 |
| No. Units | 25 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.82 AC |
| Building Size | 22,315 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1964 |
| Parking Ratio | 2.69/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | R3, Riverside |
Amenities
Unit Amenities
- Air Conditioning
- Microwave
- Ceiling Fans
- Refrigerator
- Tub/Shower
Site Amenities
- 24 Hour Access
- Courtyard
- Laundry Facilities
- Walk-Up
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 1 | $2,165 CAD | 709 |
| 2+1 | 23 | $2,565 CAD | 898 |
| 3+1 | 1 | $2,761 CAD | 948 |
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Fairly walkable
50/100
Exceptionally drivable
100/100
Good public transit
70/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 250-190-014 | Total Assessment | $5,467,692 CAD |
| Land Assessment | $1,001,125 CAD | Annual Taxes | $83,782 CAD ($3.75 CAD/SF) |
| Improvements Assessment | $4,466,567 CAD | Tax Year | 2025 Payable 2026 |
Property Taxes
Parcel Number
250-190-014
Land Assessment
$1,001,125 CAD
Improvements Assessment
$4,466,567 CAD
Total Assessment
$5,467,692 CAD
Annual Taxes
$83,782 CAD ($3.75 CAD/SF)
Tax Year
2025 Payable 2026
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Normandy Apartments | 1480 7th St
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