$5,595,000
-$400,0001480 7th Street, Riverside CA 92507
Multi-Family (25 Units)
Property type
143 days
On market
$248
Price per sqft
25 cars
Garage
1971
Year built
35,719 sqft
Lot size
Home highlights
Open Houses
Overview
$400,000 Price Reduction. Built in 1977, The Normandy Apartments consist of approximately 22,798 of rentable square feet and is in good condition since the current ownership has made several recent signi?cant renovations to the interiors & exteriors. The balanced unit mix consists of 3 bedroom, 2 bedroom, and 1 bedroom units. The property is situated on...
Listing provided by: Jonathan Mitchell DRE #01227852, Kidder Mathews of California, Inc
Listing updated: May 6, 2026 at 09:46pm.
Last checked: Jun 5, 2026 at 03:00pm
Source: CRMLS #OC26008212
Multi-family Analysis
Unit Information
| Units | Beds | Baths | Garage | Actual Rent | Total Rent | Pro Forma | Furnished? |
|---|---|---|---|---|---|---|---|
| 1 | 3 | 1 | 1 | $2,010 | $2,010 | $2,295 | Unfurnished |
| 22 | 2 | 1 | 1 | $1,867 | $41,074 | $2,150 | Unfurnished |
| 2 | 1 | 1 | 1 | $1,576 | $3,152 | $1,695 | Unfurnished |
# of Buildings: 1
# of Units Total: 25
Separate Electric Meters: 25
Separate Gas Meters: 25
Separate Water Meters: 1
Rent Control: Yes
Units Leased: 25
Total Actual Rent: $46,236
Tenant Pays: Cable Tv, Electricity, Gas
Financial Snapshot
Gross Rent Multiplier
10.1x
List Price / Annual Gross Rent
Cap Rate
6.04%
NOI / List Price
Gross Scheduled Income: $554,772
Vacancy Allowance: $16,643
Vacancy Allowance Rate: 3%
Operating Expense: $208,296
Net Operating Income: $338,179
Annual Operating Expenses
Electric: $3,649
Gardener: $6,149
Insurance: $13,208
Maintenance: $25,000
New Taxes: $60,989
Pest Control: $1,259
Pool: $17,001
Professional Management: $54,350
Trash: $7,372
Water / Sewer: $9,783
Other Expense: $20,841
Interior
Heating: None
Fireplace: None
Laundry: Common Area
Entry Location: Street
Exterior
Property Attached: Yes
Stories Total: 2
Levels: Two
Common Walls: Two Common Walls Or More
Lot Features: Twenty One To Twenty Five Units Acre
Pool: Community
Water Source: Public
Sewer: Public Sewer
Garage and Parking
Parking: Assigned
Garage Spaces: 25
Uncovered Spaces: 25
Parking Total: 50
Lot Information
Land Lease: No
Common Interest: CommunityApartment
Parcel #: 250190014
Additional Parcels: No
Tax Lot: 59
Community
HOA: No
HOA Fee: $0
Senior Community: No
Community Features: Biking, Foothills, Pool
Nearby Schools
Nearby schools around the 1480 7th Street, Riverside, CA 92507. Contact the school or district directly to verify enrollment eligibility.
Payment Calculator
Total Principal
$4,476,000
Total Interest
$5,708,891
Total Payment
$10,184,891
Payoff Date
Jun 2056
PMI is disabled automatically when your down payment is 20% or more.
Est. Payment
$34,269
per month
Property History for 1480 7th Street
Riverside Market Snapshot
Market stats compare this property with recent MLS activity for similar property types in 92507.
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