Historic Adobe Triplex with Sun
For Sale
$950,000
4600 Sunnyside Dr, Riverside, CA 92506
Three-unit income property features Tudor Revival main home, permitted sun room, and two renovated back units.
Property Size2,260 SF
Price / SF$424.11
Days on Market55
Property Features for 4600 Sunnyside Dr
General Information
Standard status
Active
Size
2,260 SF
Property subtype
Investment
Additional Details
Multifamily Units
2
Building Details
Building Size
2,260 SF
Year Built
1925
Year Renovated
2026
Stories
1
Units
3
Listing Agency:
Murray Real Estate
(951) 236-9800
Listed By:
TED JENKINS · License #01272425
Source:
Elliman
Added: Jun 15
Changed: Aug 7
Last Checked: Aug 8 at 12:27PM
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 Murray Real Estate
Investment Insights
Based on property information with market context.
Built in 1925 with adobe plaster construction, this historic triplex features a Tudor Revival main residence plus two back units housed in a single permitted building with a newer roof. The main home welcomes you through a classic arched doorway into a formal living room with crown moldings, a built-in bookcase, and a gas adobe fireplace encased with marble, along with original wood flooring. The primary bedroom and a full bathroom are on the lower level, offering granite counters, rose marble flooring, and custom mosaic shower tile. Upstairs, a stairway with brass carpet runner and rod details leads to a second-level bedroom with a sitting area and a half bathroom. The light and bright kitchen includes two pantries, and an attached permitted sun room provides washer and dryer hookups.
The back units provide additional flexibility. Unit A is one level and includes a full kitchen with granite counters, an island, waterproof luxury vinyl plank flooring, recessed lighting, and a custom-tiled full bathroom, with new appliances installed in 2024. Unit B offers two levels, with a second-level bedroom featuring views of the grounds, skylights, and a built-in bookcase, plus a three-quarter bathroom. The lower level includes a kitchen with a vintage 1950s sink, a laundry hook up, and luxury vinyl plank flooring. A common door connects Units A and B, allowing both spaces to be combined into one living area. Shared outdoor amenities include mature trees, an original stone fireplace, and a 10 x 12 shed built in 2024.
This property is well suited for owner-occupants or investors seeking a distinctive income setup with in-unit laundry hookups and character-rich interiors. The ability to combine Units A and B can also appeal to tenants looking for more than a single one-unit layout while maintaining the comfort of separate living areas.
The back units provide additional flexibility. Unit A is one level and includes a full kitchen with granite counters, an island, waterproof luxury vinyl plank flooring, recessed lighting, and a custom-tiled full bathroom, with new appliances installed in 2024. Unit B offers two levels, with a second-level bedroom featuring views of the grounds, skylights, and a built-in bookcase, plus a three-quarter bathroom. The lower level includes a kitchen with a vintage 1950s sink, a laundry hook up, and luxury vinyl plank flooring. A common door connects Units A and B, allowing both spaces to be combined into one living area. Shared outdoor amenities include mature trees, an original stone fireplace, and a 10 x 12 shed built in 2024.
This property is well suited for owner-occupants or investors seeking a distinctive income setup with in-unit laundry hookups and character-rich interiors. The ability to combine Units A and B can also appeal to tenants looking for more than a single one-unit layout while maintaining the comfort of separate living areas.
Key Highlights
- 3‑unit income property with a 1925 Tudor Revival main residence in the Palm Heights Historic District
- Main house features arched entry, formal living room with crown molding, built‑in bookcase, gas adobe fireplace with marble, and original wood flooring
- Lower level includes primary bedroom and a full bathroom with azul mahogany granite counters, rose marble flooring, and custom mosaic shower tile
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
$38,802
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
4.08%
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%
$776,040
$776.0K
Cap Rate 7%
$554,314
$554.3K
Cap Rate 9%
$431,133
$431.1K
Market Conditions
NOI Build-Up for 2,240 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
$56.4K $25.20/SF
− Vacancy
−$1.0K −$0.45/SF
EGI
$55.4K $24.75/SF
− OpEx
−$16.6K −$7.42/SF
NOI
$38.8K $17.32/SF
Area
ZIP 92506
Vacancy
1.80%
Lease Rate
$25.20 /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%
$776,040
Cap Rate 7%
$554,314
Cap Rate 9%
$431,133
Alternative Uses
Best Use
Multifamily LT 5
$554.3K
$485.0K – $646.7K
NOI $38,802 @ 7.0% cap · market cap 4.08%
Second Best
Apartment 5plus
$497.2K
$435.1K – $580.1K
NOI $34,807 @ 7.0% cap · market cap 3.66%
Theoretical Best
Office A
$768.5K
$672.4K – $896.6K
NOI $53,794 @ 7.0% cap · market cap 5.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,112
Businesses Nearby
Explore this area
Business Placement
Demographics for 92506, CA
45,185
Population
15,407
Households
2.9
Avg Household Size
41
Median Age
42%
College-Educated
93%
High-School Grad
16.2 sq mi
ZIP Area
2,789
Density / Sq Mi
$120,877
Median Household Income
$51,224
Median Earnings
$1,814
Median Rent
$634,900
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?
Triplex - Three-unit income property features Tudor Revival main home, permitted sun room, and two renovated back units.
Where is this triplex located?
The property is located at 4600 Sunnyside Dr Riverside, CA.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: 3‑unit income property with a 1925 Tudor Revival main residence in the Palm Heights Historic District; Main house features arched entry, formal living room with crown molding, built‑in bookcase, gas adobe fireplace with marble, and original wood flooring; Lower level includes primary bedroom and a full bathroom with azul mahogany granite counters, rose marble flooring, and custom mosaic shower tile
