10545 Magnolia Ave, Riverside, CA 92505
- Hotels
- 18,226 SF
- 0.77 lot acres
Current Use by Public Records
- Days inn by wyndham riverside / Hotel & Motel / Bed & Breakfast
- Days Inn by Wyndham Riverside Tyler Mall / Hotel & Motel
Property Details for 10545 Magnolia Ave
- Year built
- 1992
- Construction
- WOOD
- Lot size
- 0.77 lot acres
- Zone code
- R106
- Property type
- Hotels
- APN
- 143-290-026
- APU
- 143290026
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Apr 1, 2024 | — | Dynamic Hospitality Corporation | — | Deed · related | $2.4M · Royal Business Bank |
| Jul 9, 2020 | $6,300,000 | Dynamic Hospitality Corporation | Rajesh B Bera | Grant Deed | $4.8M · Open Bank |
| Jul 1, 2016 | — | Rajesh B Bera | — | Deed · related | $1.7M · Citizens Busn Bk |
| Aug 9, 2006 | — | Rajesh B Bera | Rajesh Bera | Intrafamily Transfer · related | $2M · Citizens Business Bank |
| Dec 22, 2000 | $1,650,000 | Parul V Makadia | Bera Trust | Grant Deed | $1.6M · Individual |
| Dec 2, 1997 | — | Rimal Etal Bera | Bera,rimal B Etux | Quit Claim Deed · related | — |
| — | — | Rajesh B Bera | — | Loan Modification · related | $1.7M · Citizens Busn Bk |
Description
This exceptional investment opportunity presents a 68-unit, three-story apartment building ideally situated in Riverside, California, at 10545 Magnolia Ave, 92505. The property, built in 1992, boasts 18,226 square feet of net rentable space on a 34,424 square foot lot. Currently zoned MU-U, the City of Riverside Planning Department has expressed strong support for conversion into affordable senior housing or senior care facilities, making this a compelling redevelopment project. The building features 68 parking spaces, one for each unit. The asking price is $11,525,000, translating to $169,485 per unit and $632.34 per square foot. The pro-forma NOI is $658,350, yielding a 5.71% cap rate (non-profit). This well-maintained property offers excellent street exposure and convenient access to the 91 Freeway, placing it near significant commercial and medical developments. The property's existing infrastructure provides a solid foundation for a seamless conversion, maximizing the potential return on investment. This is a fee simple ownership opportunity. The APN is 143290026.
Value Estimations
-
Alternative Use
- Use
- Estimation
- RESTAURANT
- $8,645,000
- AUTO REPAIR, GARAGE
- $8,075,000
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Riverside
- County
- Riverside
- State
- California
- Longitude
- -117.466
- Latitude
- 33.9099
- CBSA code
- 40140
- CBSA name
- RIVERSIDE-SAN BERNARDINO-ONTARIO, CA METROPOLITAN STATISTICAL AREA
