New Construction Multifamily
New
For Sale
$8,400,000
5832 Norwood Avenue, Riverside, CA 92505
Seven individually parceled duplexes feature townhome-style residences, private yards, attached garages, and modern interior finishes.
Property Size25,280 SF
Lot Size1.77 Acres
Price / SF$332.28
Days on Market2
Property Features for 5832 Norwood Avenue
General Information
Standard status
Active
Size
25,280 SF
Net Rentable
25,280 SF
Lot size
1.77 Acres
Property subtype
Multifamily
Site & Location
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Units
Unit Mix
4 x 3BR/2.5BA, 8 x 4BR/2.5BA, 2 x 5BR/3BA
Multifamily Units
14
Parking per Unit
2
Additional Details
Cap Rate
5.48%
Amenities
in-unit laundry
central HVAC
solar energy system
private yard
patio
landscaping
Building Details
Buildings
7
Stories
2
Construction
townhome-style
Listing Agency:
CBRE - Ontario
(909) 418-2071
Listed By:
Eric Chen · License #01489184
(909) 418-2071
Source:
Cbre
Added: Aug 4
Changed: Aug 5
Last Checked: Aug 5 at 5:50AM
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 CBRE - Ontario
Investment Insights
Based on property information with market context.
This multifamily portfolio comprises seven individually parceled duplexes with 14 total units across three sites. The properties were built in 2024 and 2026 and provide approximately 25,280 square feet of rentable area on approximately 77,102 square feet of land. Each two-story, townhome-style residence averages 1,863 square feet and includes an open layout, high ceilings, quartz kitchen countertops, stainless steel appliances, luxury vinyl flooring, walk-in closets, and an upper-level laundry room with washer and dryer. Central air conditioning and heating, solar energy systems, attached two-car garages, private front and rear yards, patios, and drought-resistant landscaping are included throughout.
The portfolio is located in Riverside’s La Sierra Acres area near Kaiser Permanente Riverside Medical Center, La Sierra University, the Galleria at Tyler, and Castle Park. Regional access includes the 91, 60, 15, and I-215 Freeways, while the La Sierra Metrolink Station is 3.7 miles away with service to LA Union Station. The current cap rate is 5.48%, with a pro forma cap rate of 5.69%.
The portfolio is located in Riverside’s La Sierra Acres area near Kaiser Permanente Riverside Medical Center, La Sierra University, the Galleria at Tyler, and Castle Park. Regional access includes the 91, 60, 15, and I-215 Freeways, while the La Sierra Metrolink Station is 3.7 miles away with service to LA Union Station. The current cap rate is 5.48%, with a pro forma cap rate of 5.69%.
Key Highlights
- 14‑unit multifamily portfolio across seven individually parceled lots
- Approximately 25,280 SF of rentable area on approximately 77,102 square feet of land
- Unit mix includes four 3‑bedroom, eight 4‑bedroom, and two 5‑bedroom residences
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $561.2k | $22.20 |
| − Vacancy | −$25.3k | −$1.00 |
| EGI | $536.0k | $21.20 |
| − OpEx | −$160.8k | −$6.36 |
| NOI | $375.2k | $14.84 |
25,280 SF · lease $22.20/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$5.36M
$4.69M – $6.25M
NOI $375,173 @ 7.0% cap · market cap 4.47%
Second Best
Apartment 5plus
$4.96M
$4.34M – $5.78M
NOI $346,854 @ 7.0% cap · market cap 4.13%
Theoretical Best
Office A
$8.66M
$7.58M – $10.11M
NOI $606,465 @ 7.0% cap · market cap 7.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
14
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
284
Businesses Nearby
Explore this area
Business Placement
Demographics for 92505, CA
50,919
Population
15,324
Households
3.3
Avg Household Size
34
Median Age
20%
College-Educated
79%
High-School Grad
10.2 sq mi
ZIP Area
4,992
Density / Sq Mi
$84,528
Median Household Income
$40,575
Median Earnings
$1,936
Median Rent
$520,800
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?
Multifamily property - Seven individually parceled duplexes feature townhome-style residences, private yards, attached garages, and modern interior finishes.
Where is this multifamily property located?
The property is located at 5832 Norwood Avenue Riverside, CA.
What is the asking price?
The asking price for this property is $8,400,000.
What are key features of this property?
This property features: 14‑unit multifamily portfolio across seven individually parceled lots; Approximately 25,280 SF of rentable area on approximately 77,102 square feet of land; Unit mix includes four 3‑bedroom, eight 4‑bedroom, and two 5‑bedroom residences
