Four-Unit Income
For Sale
$763,000
Pending
4230 13th, Riverside, CA 92501
Well-maintained four-unit income property with a 2-bedroom front home and three 1-bedroom, 1-bath rear units.
Property Size2,154 SF
Days on Market48
Property Features for 4230 13th
General Information
Standard status
Pending
Size
2,154 SF
Property subtype
Investment
Additional Details
Multifamily Units
4
Building Details
Building Size
2,154 SF
Year Built
1956
Stories
1
Units
4
Listing Agency:
Caldwell and Taylor Realty
(909) 496-3093
Listed By:
ANTHONY TAYLOR · License #01315164
(909) 496-3093
Source:
Elliman
Added: Jul 14
Changed: Aug 21
Last Checked: Aug 19 at 11:49AM
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 Caldwell and Taylor Realty
Investment Insights
Based on property information with market context.
This well-maintained four-unit income property offers a 2-bedroom, 1-bath front house with its own private front yard, along with three additional 1-bedroom, 1-bath units located in the rear. The property has been upgraded with multiple capital improvements, including a newer roof (approximately 5 years old), newer fresh exterior paint, new wall heaters, newer copper plumbing in all three of the 1-bedroom, 1-bath units, and a new plumbing cleanout.
Located at 4230 13th Street in Riverside, CA 92501, the property sits on a quiet, clean, tree-lined street with ample street parking. Walk and bike scores reported as 32 (car-dependent) and 56 (bikeable), with some transit indicated by a 35 transit score.
For daily convenience, the property is described as minutes from Mount Rubidoux Park and the Historic Downtown Riverside district, including the Mission Inn Hotel & Spa. Additional nearby amenities referenced include Riverside Plaza, Fairmount Park, Ryan Bonaminio Park, UC Riverside, Riverside Community College, and Riverside Community Hospital, with easy access to the 91, 60, and 215 freeways.
Located at 4230 13th Street in Riverside, CA 92501, the property sits on a quiet, clean, tree-lined street with ample street parking. Walk and bike scores reported as 32 (car-dependent) and 56 (bikeable), with some transit indicated by a 35 transit score.
For daily convenience, the property is described as minutes from Mount Rubidoux Park and the Historic Downtown Riverside district, including the Mission Inn Hotel & Spa. Additional nearby amenities referenced include Riverside Plaza, Fairmount Park, Ryan Bonaminio Park, UC Riverside, Riverside Community College, and Riverside Community Hospital, with easy access to the 91, 60, and 215 freeways.
Key Highlights
- Four‑unit income property (built 1956) with a 2‑bed, 1‑bath front home plus three 1‑bed, 1‑bath rear units
- Upgrades include a newer roof (~5 years old) and newer fresh exterior paint
- New wall heaters and a new plumbing cleanout
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
$37,668
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
4.94%
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%
$753,360
$753.4K
Cap Rate 7%
$538,114
$538.1K
Cap Rate 9%
$418,533
$418.5K
Market Conditions
NOI Build-Up for 2,154 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
$54.8K $25.44/SF
− Vacancy
−$986 −$0.46/SF
EGI
$53.8K $24.98/SF
− OpEx
−$16.1K −$7.49/SF
NOI
$37.7K $17.49/SF
Area
Riverside, CA
Vacancy
1.80%
Lease Rate
$25.44 /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%
$753,360
Cap Rate 7%
$538,114
Cap Rate 9%
$418,533
Alternative Uses
Best Use
Multifamily LT 5
$538.1K
$470.9K – $627.8K
NOI $37,668 @ 7.0% cap · market cap 4.94%
Second Best
Apartment 5plus
$492.1K
$430.6K – $574.1K
NOI $34,447 @ 7.0% cap · market cap 4.51%
Theoretical Best
Office A
$739.0K
$646.6K – $862.2K
NOI $51,729 @ 7.0% cap · market cap 6.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
2,764
Businesses Nearby
Explore this area
Business Placement
Demographics for 92501, CA
22,017
Population
7,488
Households
2.9
Avg Household Size
35
Median Age
18%
College-Educated
81%
High-School Grad
5.6 sq mi
ZIP Area
3,932
Density / Sq Mi
$83,027
Median Household Income
$41,780
Median Earnings
$1,615
Median Rent
$466,400
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Well-maintained four-unit income property with a 2-bedroom front home and three 1-bedroom, 1-bath rear units.
Where is this quadplex located?
The property is located at 4230 13th Riverside, CA.
What is the asking price?
The asking price for this property is $763,000.
What are key features of this property?
This property features: Four‑unit income property (built 1956) with a 2‑bed, 1‑bath front home plus three 1‑bed, 1‑bath rear units; Upgrades include a newer roof (~5 years old) and newer fresh exterior paint; New wall heaters and a new plumbing cleanout
