Updated Side-by-Side
For Sale
$1,489,000
Pending
3130 1st, Riverside, CA 92507
Two refreshed residences offer private outdoor areas, individual access, parking structures, and a detached workshop with commercial-industrial zoning.
Property Size3,600 SF
Lot Size0.67 Acres
Days on Market125
Property Features for 3130 1st
General Information
Standard status
Pending
Size
3,600 SF
Lot size
0.67 Acres
Property subtype
Commercial
Zoning
Commercial, industrial
Site & Location
Highway Access
Yes
Road Access
Yes
Fenced Yard
Yes
Additional Details
Drive-In Doors
1
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: Apr 29
Changed: Aug 30
Last Checked: Aug 30 at 3:42PM
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.
Built in 1904, this detached side-by-side duplex contains two updated residences with separate addresses and approximately 3,600 square feet of combined living area. Both units include laminate flooring, crown molding, appliances, upgraded kitchen cabinetry, private yards, carports, storage, and automatic gates; one residence also has a basement. The 29,185-square-foot lot includes a separate workshop/garage with an automatic roll-up door and side restroom, plus a tall covered parking structure. The rear portion is fenced and inaccessible to tenants. Current occupants are established on month-to-month terms.
The property occupies the corner of 1st and Commerce streets in Riverside, near Downtown Riverside and adjacent to railroad tracks. Commercial-industrial zoning is identified, with the two residences maintained as nonconforming or grandfathered residential rentals. A broad side entrance provides access and parking for large vehicles. Regional connectivity includes convenient access to the 91, 215, and 60 freeways. Permitting and permitted-use details should be independently verified.
The property occupies the corner of 1st and Commerce streets in Riverside, near Downtown Riverside and adjacent to railroad tracks. Commercial-industrial zoning is identified, with the two residences maintained as nonconforming or grandfathered residential rentals. A broad side entrance provides access and parking for large vehicles. Regional connectivity includes convenient access to the 91, 215, and 60 freeways. Permitting and permitted-use details should be independently verified.
Key Highlights
- Approximately 3,600 square feet of combined living area across two duplex residences
- 29,185‑square‑foot lot with private yards, carports, storage, and automatic gates
- Two updated units with separate addresses; one includes an additional basement
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
Mixed Use
$739.3K
$646.9K – $862.5K
NOI $51,752 @ 7.0% cap · market cap 3.48%
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
Current Use
Lease Details
1
Drive-in doors
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
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 Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two refreshed residences offer private outdoor areas, individual access, parking structures, and a detached workshop with commercial-industrial zoning.
Where is this duplex located?
The property is located at 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: Approximately 3,600 square feet of combined living area across two duplex residences; 29,185‑square‑foot lot with private yards, carports, storage, and automatic gates; Two updated units with separate addresses; one includes an additional basement
