1005 Via Zapata - Apartments FOR SALE


Riverside, CA 92507- Canyon Crest
$55,095,000 USD
310-470-8963
1005 Via Zapata, Riverside, CA for Sale
$55,095,000 USD
Apartments - FOR SALE
1/22
null | 5.3% Cap Rate

1005 Via Zapata
Riverside, CA 92507
Canyon Crest


HIGHLIGHTS

  • Tour Dates (By Appointment): Redlands & Riverside - April 14; Upland – April 28 & 30
  • Rare Opportunity to purchase 210 units in desirable inland empire locations (Redlands, Riverside, and Upland)
  • Tremendous Value-Add Opportunity same long-term ownership for all properties
  • Over $340/Unit/Month in Rental Upside Potential; market cap rate close to 7% with no city rent control restrictions
  • Spacious Home-Like Units Averaging Over 1,100 Square Feet; some townhouse-style units
  • Desirable Locations near downtown areas, major shopping destinations, dining, entertainment, outdoor recreation, & highly rated universities/colleges

OVERVIEW

Tour Dates (By Appointment): Redlands & Riverside - April 14 Upland – April 28 & 30 Berkadia is excited to exclusively offer for sale a 210-Unit Value-Add portfolio in Southern California with No City Rent Control. This portfolio is comprised of 6 properties totaling 210 units, all located in desirable inland empire locations, including Riverside (95 units; 2 adjacent properties; 1971/72 YB), Redlands (54 units; 1 property; 1964 YB), and Upland (61 units; 3 properties on the same block; 1962/65 & 1975 YB). Owned by the same long-term ownership (some owned for over 20 years), the portfolio offers a tremendous value-add opportunity with over $340/unit/month in rental upside potential and a market cap rate close to 7%. The properties feature spacious home-like units averaging over 1,000sf with some townhouse-style units, and an attractive unit mix of studio, one-, two-, and three-bedroom units. All 6 properties are in desirable locations near downtown areas, major shopping destinations, dining, entertainment, and outdoor recreation. Minutes to highly rated universities and colleges, including UC Riverside and University of Redlands. Note: Unit SF shown are estimates to be verified by Buyer. The properties Can be Purchased Together, Individually, or In Any Combination. LINKS TO ALL PROPERTIES: 95 units on 3.5 acres (across street from Canyon Crest Town Centre; minutes to Downtown Riverside and UC Riverside) https://properties.berkadia.com/via-zapata-properties-487536/ 54 units on over 2.5 acres (3 minutes from Downtown Redlands and University of Redlands) https://properties.berkadia.com/kimberly-487272/ 61 units minutes to Historic Downtown Upland https://properties.berkadia.com/amber-court-properties-492804/

FOR SALE DETAILS

PRICE

$55,095,000 USD

PRICE/SF

$1,285 USD /SF

# OF UNITS

210

PRICE/UNIT

$262,357

CAP RATE

5.3%

% LEASED

98%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

210-Unit Value-Add Portfolio in So Cal

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1974

PARKING SPACES

-

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

R-3, Riverside

APN/PARCEL ID

254-172-008

ASK ABOUT THIS PROPERTY

Adrienne BarrBerkadiaMore Info
310-470-8963

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Adrienne BarrBerkadiaMore Info
310-470-8963

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.