Riverside Multifamily Investment
1195 Spring St Riverside, CA 92507
1195 Spring St, Riverside, CA, 92507
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For Sale
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Five-unit multifamily property in Riverside with stable income potential.
Property Size3,264 SF
Lot Size0.21 Acres
Price / SF$271.14
Days on Market169
Property Features for 1195 Spring St
General Information
- Standard status
- Active
- Size
- 3,264 SF
- Lot size
- 0.21 Acres
- Property subtype
- Multifamily
Building Details
- Year Built
- 1962
Listing Agency
Marcus & Millichap - Inland Empire
(909) 456-3400
Listed by
David Covarrubias · License #CA 01941403
Source
Crexi
Added: Jan 28 Checked: Jul 15 at 3:44 pm
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Marcus & Millichap - Inland Empire
Investment Insights
Based on property information with market context.
This five-unit multifamily property, constructed in 1962, offers 3,264 rentable square feet on a 0.21-acre lot in Riverside. The property features a mix of one and two-bedroom floor plans within a single-story building. On-site amenities include a laundry room, wall-mounted air conditioner and heater units, and separate gas and electricity meters for each unit. The property utilizes a septic system. Parking is provided by 5 carport spaces and 4 open spaces. Riverside's investment environment is supported by a diverse employment base, ongoing population growth, and relative affordability compared to coastal markets. Major employers include the County of Riverside, March Air Reserve Base, and the University of California, Riverside, contributing to stable housing demand from government, military, academic, and healthcare professionals. Residents benefit from access to Downtown Riverside amenities such as the historic Mission Inn, the Fox Performing Arts Center, and outdoor recreation at California Citrus State Historic Park. Downtown reinvestment initiatives, including the Riverside Alive project with new residential, office, retail, hotel uses, and convention center expansion, are expected to further reinforce long-term economic growth and rental demand. This well-located multifamily asset is positioned for durable income and long-term appreciation.
Key Highlights
- Stable income and long‑term appreciation potential in a growing Inland Empire market.
- Functional unit mix of one and two‑bedroom floor plans.
- Separately metered for gas and electricity, limiting utility exposure.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $85.0k | $26.04 |
| − Vacancy | −$4.4k | −$1.35 |
| EGI | $80.6k | $24.69 |
| − OpEx | −$36.3k | −$11.11 |
| NOI | $44.3k | $13.58 |
3,264 SF · lease $26.04/SF/yr · vacancy 5.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$633.1K
$554.0K – $738.6K
NOI $44,316 @ 7.0% cap · market cap 5.01%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.12M
$978.8K – $1.31M
NOI $78,303 @ 7.0% cap · market cap 8.85%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Five-unit multifamily property in Riverside with stable income potential.
Where is this apartment building located?
The property is located at 1195 Spring St Riverside, CA.
What is the asking price?
The asking price for this property is $885,000.
What are key features of this property?
This property features: Stable income and long‑term appreciation potential in a growing Inland Empire market.; Functional unit mix of one and two‑bedroom floor plans.; Separately metered for gas and electricity, limiting utility exposure.
