67,202 sqft

$16,300,000

3681 Cranford Avenue, Riverside CA, 92507

Price per sqft$242.55

Built in1965

Property size67,202 sqft

Property typeCondominium

Bought with Jonathan Mitchell with Kidder Mathews of California, Inc and Listed by Jonathan Mitchell CA DRE# 01227852 with Kidder Mathews of California, Inc [email protected]

Overview

Sold

Closed

Listed Jan 7, 2026

Updated 4 weeks ago

$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.

Additional information

MLS^® ID: OC26004201

Interior Features

Cooling: Yes
Basement: No

Exterior Features

Lot Size: 2.99 Acres

Other Property Details

Maintenance Expense: $88,000
Garage: Yes
55+/Senior Community: No

Bought with Jonathan Mitchell with Kidder Mathews of California, Inc and Listed by Jonathan Mitchell CA DRE# 01227852 with Kidder Mathews of California, Inc [email protected]

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 8/13/2026. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

Data last updated on 8/13/2026 at 5:21 AM UTC Last Checked: 5:21 AM UTC