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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1970 7th St Riverside, CA 92507-7309

    • Apartment buildings
    • 1.05 lot acres
    OFF-MARKET
    Last Sale
    Mar 21, 2022
    Value Estimations
    $730,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US10-3032085
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Riverbrook Apartments / Apartment Building
    • Dara Willis / Registered General Nurse
    • Surgical Skid Steer Grading & Demo / Construction Machine Rental Service / Construction Company

    Property Details for 1970 7th St

    Lot size
    1.05 lot acres
    Zone code
    R3
    Property type
    Apartment buildings
    APN
    211-175-007
    APU
    211175007

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $730,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Riverside
    County
    Riverside
    State
    California
    Longitude
    -117.355
    Latitude
    33.9764
    CBSA code
    40140
    CBSA name
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $73,637
    $1,178,279
    $5,322,442
    $6,500,721
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $585,000
      4.54 Acres

      1175 Blaine St

      APARTMENT HOUSE (5+ UNITS) • 4.54 Acres
      1175 Blaine St, Riverside, CA 92507-7653
      View Details
    • Value Estimation
      $310,000
      0.19 Acres

      2454 14th St

      APARTMENT HOUSE (5+ UNITS) • 0.19 Acres
      2454 14th St, Riverside, CA 92507-5011
      View Details
    • Value Estimation
      $745,000
      3,700 SF

      790 Prescott Way

      APARTMENT HOUSE (5+ UNITS) • 3,700 SF
      790 Prescott Way, Riverside, CA 92507-9300
      View Details
    • Value Estimation
      $1,840,000
      21,405 SF

      5377 Quail Run Rd

      APARTMENT HOUSE (100+ UNITS) • 21,405 SF
      5377 Quail Run Rd, Riverside, CA 92507-6099
      View Details
    • Value Estimation
      $1,120,000
      466 SF

      1062 Spruce St

      APARTMENT HOUSE (5+ UNITS) • 466 SF
      1062 Spruce St, Riverside, CA 92507
      View Details
    • Value Estimation
      $565,000
      7,040 SF

      3721 Watkins Dr

      APARTMENT HOUSE (5+ UNITS) • 7,040 SF
      3721 Watkins Dr, Riverside, CA 92507-4631
      View Details

    Similar Nearby for Sale

    • $479,900

      Canyon Crest Condo with Upgrades

      Renovated condo near Canyon Crest shopping center and community amenities.
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    • $1,400,000

      Prime Corner Lot Development Opportunity

      Corner lot near UCR with development plans for apartment complex.
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    • $375,000
      1,024 SF

      Wheaton Way Condo in Riverside

      Two-story condo in gated community near UCR, freeways, shopping.
      1373 Wheaton Way, Riverside, CA 92507
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    • $1,489,000
      29,185.00 Acres

      Updated Units in Riverside

      Two updated units with separate utilities and private yards.
      3112 1St St, Riverside, CA 92507
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    • $95,000

      Riverside Home in All-Age Community

      Charming 2-bed, 2-bath home in a vibrant Riverside community.
      1560 Massachuesetts Ave, Riverside, CA 92507
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    • $94,500

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      Remodeled 2-bedroom, 2-bath home in Riverside's King Arthur Mobile Estates.
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    Similar Nearby for Lease

    • $2,150 /Mo
      965 SF

      Updated Condo in Canyon Crest

      Spacious 2-bed, 2-bath condo with updates and prime location.
      1000 Central Ave, Riverside, CA 92507
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    • $15 SF/Yr
      124,458 SF

      Iowa Corporate Center: Prime Space Available

      Riverside County Office/Industrial Space for Lease
      1020 Palmyrita Ave, Riverside, CA 92507
      View Details
    • $26 SF/Yr
      19,304 SF

      Canyon Crest Office Space For Lease

      Riverside Office Suites - 12 Units Available
      5053 La Mart Dr, Riverside, CA 92507
      View Details
    • $18 SF/Yr
      35,660 SF

      University Heights Retail Center

      Riverside, CA: Prime Retail Space Available
      3355-3375 Iowa Ave, Riverside, CA 92507
      View Details
    • $2 SF/Yr
      24,025 SF

      Riverside Flex Space For Lease

      Modern Flex/Warehouse Space Available
      1533 Spruce St, Riverside, CA 92507
      View Details
    • Contact for pricing

      Industrial Property For Rent

      Industrial property available for rent in Riverside, California.
      1280 Palmyrita Ave, Riverside, CA 92507
      View Details

    Property Visit Statistics

    • Visits by month
      8.6k
    • Visitors by month
      7.8k
    • Avg Time on site
      26 min
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    1970 7th St
    Riverside, CA 92507-7309
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    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
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