Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    Jarvis St Perris, CA 92571

    • Land
    • 5.57 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 0 Jarvis St

    Lot size
    5.57 lot acres
    Property type
    Land

    Description

    This exceptional 5.57± acre multifamily land parcel in Perris, CA, presents a compelling investment opportunity. Zoned MFR-14, it offers significant potential for high-density development, with a preliminary city review in 2023 indicating favorability for upzoning to MFR-22, potentially allowing for up to 125 units. The flat, rectangular site is ideally suited for two- and three-story townhomes, apartments, or condominiums. A preliminary 125-unit project plan was reviewed by the City of Perris in 2022 and 2023. An adjacent 0.43± acre parcel, currently a paper street, may be deeded to the property upon project approval, increasing the total acreage to 5.57± acres (buyer to verify with city planners). This prime location benefits from convenient access to Interstate 215, light rail, and a nearby Metrolink station, enhancing its appeal to commuters. Situated in a Riverside County Opportunity Zone, the property is surrounded by established residential areas, schools (Perris High School and Palms Elementary School), parks, shopping, and dining. The strong local housing market, with a median home price of $506,000 in February 2024, and the potential for density bonuses under AB 2345, further solidify this investment's potential. The APN is 311-180-018, -025, -046, -047. The property is offered fee simple and is suitable for a 1031 exchange. The asking price is $3,999,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Perris
    County
    Riverside
    State
    California
    Longitude
    -117.222
    Latitude
    33.792

    Comparable in this City

    • Value Estimation by Request
      18.66 Acres

      27071 Citrus Ave

      Land • 18.66 Acres
      27071 Citrus Ave, Perris, CA 92571
      View Details
    • Value Estimation by Request
      0.98 Acres

      1210 Markham St

      Land • 0.98 Acres
      1210 Markham St, Perris, CA 92571
      View Details
    • Value Estimation by Request
      4.60 Acres

      Harley Knox Blvd & Heacock St

      Land • 4.60 Acres
      0 Harley Knox Blvd & Heacock St, Moreno Valley, CA 92571
      View Details
    • Value Estimation by Request
      3.77 Acres

      25000 Trumble Rd

      Distribution properties • 58,924 SF
      25000 Trumble Rd, Perris, CA 92571
      View Details
    • Value Estimation by Request
      1,056 SF

      342 Dl St

      APARTMENT HOUSE (5+ UNITS) • 1,056 SF
      342 Dl St, Perris, CA 92571-4800
      View Details
    • Value Estimation
      $780,000
      1,554 SF

      80 Dawes St

      MOBILE HOME PARK, TRAILER PARK • 1,554 SF
      80 Dawes St, Perris, CA 92571-3148
      View Details

    Similar Nearby for Sale

    • $1,175,000
      0.98 Acres

      Perris Industrial Land - $1.175M

      0.98-acre industrial land, build-to-suit option
      1210 Markham St, Perris, CA 92571
      View Details
    • $900,000

      Land For Sale in Perris

      Land available for purchase in Perris, California.
      Dunlap Dr, Perris, CA 92571
      View Details
    • $1,250,000
      5,895 SF

      Perris Multifamily Property with Development Potential

      1.1 acre lot with 5 units, pool, and development potential.
      4439 Wade Ave, Perris, CA 92571
      View Details
    • $699,000

      Triplex on Half-Acre Lot

      Fully rented triplex with expansion potential in a prime location.
      820 N Perris Blvd, Perris, CA 92571
      View Details
    • Contact for pricing
      4.60 Acres

      Prime Perris Industrial Land

      ±9.88 Acres, I-215 Proximity
      0 Harley Knox Blvd & Heacock St, Moreno Valley, CA 92571
      View Details
    • Contact for pricing
      2.06 Acres

      Perris Retail Land - 2.06 Acres

      Prime Perris location, fully entitled for gas station, car wash, EV charging.
      23 Rider St, Perris, CA 92571
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      277,578 SF

      Prime Romoland Industrial Build-to-Suit

      13.35 Acres, 277,578 SF, Fully Entitled
      27435 Mapes Rd, Romoland, CA 92571
      View Details
    • Contact for pricing
      89,734 SF

      Perris Retail Land - 2.06 Acres

      Prime Perris retail land, fully entitled.
      23 Rider St, Perris, CA 92571
      View Details
    • Contact for pricing
      435,600 SF

      Perris Land for Lease

      2-10 acres of secured land available for truck/trailer storage.
      2 Sinclair St, Perris, CA 92571
      View Details
    • $0.20 SF/Yr
      3 SF

      Perris Industrial Land Sublease

      Industrial land sublease opportunity near freeway ramps in Perris, CA.
      5055 Western Way, Perris, CA 92571
      View Details
    • $0.24 SF/Yr
      1 SF

      Secured Yard with Office Space

      Fenced yard with office, near I-215 & 60.
      1173 Harley Knox Blvd, Perris, CA 92571
      View Details
    • Contact for pricing
      33,233 SF

      Seq Ramona Expy & Nevada Rd

      Land • 33,233 SF
      0 Seq Ramona Expy & Nevada Rd, Perris, CA 92571
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Jarvis St
    Perris, CA 92571
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.