Three-Building Multifamily
For Sale
$3,595,000
4561 Main Street, Riverside, CA 92501
Fourteen-unit multifamily property features a predominantly single-story layout with on-site parking and laundry.
Property Size9,200 SF
Lot Size0.79 Acres
Price / SF$390.76
Days on Market255
Property Features for 4561 Main Street
General Information
Standard status
Active
Size
9,200 SF
Total Parking Spaces
25
Lot size
0.79 Acres
Property subtype
Multi-family
Additional Details
Cap Rate
6.12%
Highway Access
Yes
Multifamily Units
14
Amenities
laundry facility
mini-split air conditioning
Building Details
Year Built
1950
Stories
1
Tenancy
Multi
Listing Agency:
Marcus & Millichap
Listed By:
Oscar Diaz
(951) 226-5454
Source:
Sevengables
Added: Jan 1
Changed: Sep 12
Last Checked: Sep 12 at 10:27AM
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
Investment Insights
Based on property information with market context.
4545-4581 Main Street offers a 14-unit multifamily investment configured across five separate buildings on three contiguous parcels. The property is predominantly single-story and designed to provide a more private, residential feel compared to traditional apartment complexes.
The community includes 25 on-site parking spaces, an on-site laundry facility, and interior mini-split air conditioning systems. The current unit mix consists of one three-bedroom, two-bath home, six two-bedroom units, six one-bedroom units, and one studio.
The property has undergone recent capital improvements, including newer roofs and well-maintained exterior areas. Additional income potential may be supported by stand-alone garages that can be leased for storage, as well as two separate owner’s rooms that may be converted into additional garages or ADU units subject to buyer verification.
The community includes 25 on-site parking spaces, an on-site laundry facility, and interior mini-split air conditioning systems. The current unit mix consists of one three-bedroom, two-bath home, six two-bedroom units, six one-bedroom units, and one studio.
The property has undergone recent capital improvements, including newer roofs and well-maintained exterior areas. Additional income potential may be supported by stand-alone garages that can be leased for storage, as well as two separate owner’s rooms that may be converted into additional garages or ADU units subject to buyer verification.
Key Highlights
- 14‑unit multifamily property built in 1950 with a predominantly single‑story layout across five separate buildings
- Three contiguous parcels totaling approximately 34,412 SF in a low‑density configuration
- Unit mix includes 1 three‑bedroom/ two‑bath home, 6 two‑bedroom units, 6 one‑bedroom units, and 1 studio
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
$147,129
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
4.09%
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%
$2,942,580
$2.9M
Cap Rate 7%
$2,101,843
$2.1M
Cap Rate 9%
$1,634,767
$1.6M
Market Conditions
NOI Build-Up for 9,200 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
$272.7K $29.64/SF
− Vacancy
−$5.2K −$0.56/SF
EGI
$267.5K $29.08/SF
− OpEx
−$120.4K −$13.08/SF
NOI
$147.1K $15.99/SF
Area
Riverside, CA
Vacancy
1.90%
Lease Rate
$29.64 /SF/Yr
Expense Ratio
45.00%
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%
$2,942,580
Cap Rate 7%
$2,101,843
Cap Rate 9%
$1,634,767
Alternative Uses
Best Use
Apartment 5plus
$2.10M
$1.84M – $2.45M
NOI $147,129 @ 7.0% cap · market cap 4.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.16M
$2.76M – $3.68M
NOI $220,941 @ 7.0% cap · market cap 6.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
14
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,629
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Apartment building - Fourteen-unit multifamily property features a predominantly single-story layout with on-site parking and laundry.
Where is this apartment building located?
The property is located at 4561 Main Street Riverside, CA.
What is the asking price?
The asking price for this property is $3,595,000.
What are key features of this property?
This property features: 14‑unit multifamily property built in 1950 with a predominantly single‑story layout across five separate buildings; Three contiguous parcels totaling approximately 34,412 SF in a low‑density configuration; Unit mix includes 1 three‑bedroom/ two‑bath home, 6 two‑bedroom units, 6 one‑bedroom units, and 1 studio
