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Normandy Apartments 1480 7th St 25 Unit Apartment Building $8,318,782 CAD ($332,751 CAD/Unit) 5.35% Cap Rate Riverside, CA 92507
INVESTMENT HIGHLIGHTS
- Balanced unit mix of 3, 2 & 1 bedroom units
- Less than 1.5 miles from 91 & 215 freeways
- 10% realistic rental upside
- 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 |
$769,813
|
$38.49
|
| Other Income |
$11,581
|
$0.58
|
| Vacancy Loss |
$23,094
|
$1.15
|
| Effective Gross Income |
$758,300
|
$37.91
|
| Taxes |
$92,955
|
$4.65
|
| Operating Expenses |
$220,378
|
$11.02
|
| Total Expenses |
$313,333
|
$15.67
|
| Net Operating Income |
$444,967
|
$22.25
|
FINANCIAL SUMMARY (ACTUAL - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $769,813 |
| Annual Per SF | $38.49 |
| Other Income (CAD) | |
|---|---|
| Annual | $11,581 |
| Annual Per SF | $0.58 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $23,094 |
| Annual Per SF | $1.15 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $758,300 |
| Annual Per SF | $37.91 |
| Taxes (CAD) | |
|---|---|
| Annual | $92,955 |
| Annual Per SF | $4.65 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $220,378 |
| Annual Per SF | $11.02 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $313,333 |
| Annual Per SF | $15.67 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $444,967 |
| Annual Per SF | $22.25 |
PROPERTY FACTS
| Price | $8,318,782 CAD | Building Class | C |
| Price Per Unit | $332,751 CAD | Lot Size | 0.82 AC |
| Sale Type | Investment | Building Size | 22,576 SF |
| Cap Rate | 5.35% | Average Occupancy | 100% |
| Gross Rent Multiplier | 10.8 | No. Stories | 2 |
| No. Units | 25 | Year Built | 1964 |
| Property Type | Multifamily | Parking Ratio | 2.66/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | R3, Riverside | ||
| Price | $8,318,782 CAD |
| Price Per Unit | $332,751 CAD |
| Sale Type | Investment |
| Cap Rate | 5.35% |
| Gross Rent Multiplier | 10.8 |
| No. Units | 25 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.82 AC |
| Building Size | 22,576 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1964 |
| Parking Ratio | 2.66/1,000 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 | $2,187 CAD | 709 |
| 2+1 | 23 | $2,591 CAD | 898 |
| 3+1 | 1 | $2,789 CAD | 948 |
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Walk Score®
Very Walkable (78)
Bike Score®
Very Bikeable (78)
PROPERTY TAXES
| Parcel Number | 250-190-014 | Total Assessment | $5,495,096 CAD |
| Land Assessment | $1,006,142 CAD | Annual Taxes | $92,955 CAD ($4.12 CAD/SF) |
| Improvements Assessment | $4,488,953 CAD | Tax Year | 2025 Payable 2026 |
PROPERTY TAXES
Parcel Number
250-190-014
Land Assessment
$1,006,142 CAD
Improvements Assessment
$4,488,953 CAD
Total Assessment
$5,495,096 CAD
Annual Taxes
$92,955 CAD ($4.12 CAD/SF)
Tax Year
2025 Payable 2026
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Normandy Apartments | 1480 7th St
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