Riverside Duplex with Commercial
For Sale
$1,489,000
Pending
3112 3130 1st, Riverside, CA 92507
Updated duplex with workshop, ideal for commercial use.
Property Size3,600 SF
Lot Size0.67 Acres
Days on Market154
Property Features for 3112 3130 1st
General Information
Standard status
Pending
Size
3,600 SF
Lot size
0.67 Acres
Property subtype
Commercial
Building Details
Building Size
3,600 SF
Year Built
1904
Units
6
Listing Agency:
REMAX Top Producers
(909) 268-2712
Listed By:
Ann Casillas · License #01522109
(909) 268-2712
Source:
Elliman
Added: Mar 10
Changed: Aug 8
Last Checked: Aug 8 at 4:30AM
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 REMAX Top Producers
Investment Insights
Based on property information with market context.
This property features a detached side-by-side duplex with a separate garage/workshop, suitable for running an industrial commercial business. Located near Downtown Riverside, the property includes two updated units, each with its own address, laminate floors, crown molding, appliances, and upgraded kitchen cabinets. Each unit has a private yard, a carport, and storage space; one unit also has a basement. Automatic gates provide access to each unit. The landscape is manicured and includes various fruit trees. The exterior of the units shows attention to detail. The property is currently rented to established renters at $2,500 each on a month-to-month basis. The total living space is approximately 3,600 square feet on a 29,185 square foot lot. The back of the lot is fenced off with no access for the tenants. A tall carport and a separate workshop/garage with an automatic rollup door and a restroom are located on the side. The property is at the corner of 1st and Commerce St, with large side access suitable for large vehicle access and parking. The zoning is commercial, industrial, non-conforming/grandfathered in for rental of the two homes. The property has room for vehicles, semi-trucks, and trailers, which may be stored as long as they belong to the owner of record. The grandfather status is lost if the units are vacant for more than six months. The property could be converted into offices, but it may lose its residential income status. It is located next to the railroad tracks with convenient access to the 91/215/60 freeways.
Key Highlights
- Detached side‑by‑side duplex with separate garage/workshop ideal for running an industrial commercial business.
- Zoned commercial/industrial, non‑conforming/grandfathered in for residential rental income (verify status).
- Large 29,185 sq ft lot with ample side access for large vehicles, semi‑trucks, and trailers (owner‑operated).
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$52,867
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.55%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,057,340
$1.1M
Cap Rate 7%
$755,243
$755.2K
Cap Rate 9%
$587,411
$587.4K
Market Conditions
NOI Build-Up for 3,600 SF
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.
Gross rent
$79.9K $22.20/SF
− Vacancy
−$4.4K −$1.22/SF
EGI
$75.5K $20.98/SF
− OpEx
−$22.7K −$6.29/SF
NOI
$52.9K $14.69/SF
Area
ZIP 92507
Vacancy
5.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,057,340
Cap Rate 7%
$755,243
Cap Rate 9%
$587,411
Alternative Uses
Best Use
Multifamily LT 5
$755.2K
$660.8K – $881.1K
NOI $52,867 @ 7.0% cap · market cap 3.55%
Second Best
Apartment 5plus
$698.3K
$611.0K – $814.6K
NOI $48,878 @ 7.0% cap · market cap 3.28%
Theoretical Best
Office A
$1.23M
$1.08M – $1.44M
NOI $86,364 @ 7.0% cap · market cap 5.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,017
Businesses Nearby
Explore this area
Business Placement
Demographics for 92507, CA
63,191
Population
19,739
Households
3.2
Avg Household Size
28
Median Age
32%
College-Educated
84%
High-School Grad
21.4 sq mi
ZIP Area
2,953
Density / Sq Mi
$72,367
Median Household Income
$31,961
Median Earnings
$1,780
Median Rent
$503,000
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Updated duplex with workshop, ideal for commercial use.
Where is this duplex located?
The property is located at 3112 3130 1st Riverside, CA.
What is the asking price?
The asking price for this property is $1,489,000.
What are key features of this property?
This property features: Detached side‑by‑side duplex with separate garage/workshop ideal for running an industrial commercial business.; Zoned commercial/industrial, non‑conforming/grandfathered in for residential rental income (verify status).; Large 29,185 sq ft lot with ample side access for large vehicles, semi‑trucks, and trailers (owner‑operated).
