Active Under Contract

3681 Cranford Avenue

Riverside, CA 92507

$16,995,000 $71,651/Mo

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Overview

Bed

Bath

2.99

Acres(Lot)

Description

$600,000 Price Reduction. Day one 6.10% CAP Rate & 9.4 GRM. Built in 1964, The University Gardens consist of approximately 67,202 of rentable square feet and is in good condition since the current ownership has made several recent renovations to the interiors & exteriors. The unit mix consists of 2 Bedroom, 1 Bedroom & Studio units. The property is situated on approximately 3 acres of land that includes tuck under parking, carports, open on-site parking in addition to street parking. The property is also separately metered for gas and electric with a community laundry rooms, pools & rental office. Select units have been tastefully remodeled with new flooring, windows, cabinets, stove, microwave, countertops, sink, toilet, vanity, shower, AC, recessed lighting & ceiling fans throughout. Most of the “heavy lifting” is almost complete and should appeal to an investor looking for an asset surrounded by tremendous job opportunity and 10% realistic rental upside. Priced way below replacement cost (under $253 per foot) & less than 1.5 miles from 91 and 215 freeways. Earthquake retrofit and seismic upgrades have been made & all newer roofs and rain gutters.

Property Details

Property Type : ResidentialIncome

Price : $16,995,000

AD Id : 88560206

MLS Id : OC26004201

Beds : 3

Lot Size : 2.99 Acres

Year Built : 1965

Garage : 88

County : Riverside

Map

What's Nearby

Nearby Areas

Features

Heating & Cooling

Heating: None Has Cooling: Yes Cooling: WallWindowUnits

Building Information

Year Built: 1965

Building Area Total: 67202

Pool Features: Community

Private Pool: No

Lot Information

Main Square Feet: 2.99 Lot Size Acres: 2.99 Lot Size Source: Assessor Lot Size Square Feet: 130,244 Lot Description: TwentySixToThirtyUnitsAcre

Listing Price Information

Listing Price: $16995000

Original Price: $17599000

Cash, CashToExistingLoan

Tax Information

Parcel Number: 250170037 Tax Lot: 1

Virtual Tour

Virtual Tour (External Link)

Parking Information

Parking Total: 134 Assigned

Garage Information

Has Garage: Yes Garage Space: 88

Location Information

Direction: Southeast of 91 Fwy off University WaterSource: Public

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Nearby Home Value

Address	Estimate	Bed	Bath	Sq. Ft	Lot Size
1480 7th Street, Riverside, CA, 92507	$5,595,000	6	3	--

Similar Apartment To 3681 Cranford Avenue

Nearby For Sale

$5,595,000

Apartment For Sale

1480 7th Street,
Riverside, CA, 92507

Bed

Bath

35,719

Sqft(Lot)

$16,995,000

Apartment For Sale

3681 Cranford Avenue,
Riverside, CA, 92507

Bed

Bath

2.99

Acres(Lot)

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ByOwner last updated this listing 07/30/2026 @ 12:04

MLS: OC26004201 LISTED BY: Jonathan Mitchell, Kidder Mathews of California, Inc 949-557-5000 SOURCE: CRMLS