5832 Norwood Avenue
Riverside, CA 92505
For Sale
25,280 sqft
Sale Price
$8,400,000
Brochure
Property Website
Map
Multifamily For Sale - Available July 2026
14-Unit Townhome Portfolio | 7 Individual Duplexes Brand New Built | Riverside | 5.48% Cap Rate
A rare 7-duplex, 14-unit brand-new construction townhome-style portfolio in the La Sierra Acres area of Riverside, CA
The portfolio is offering a current cap rate of 5.48% and a pro forma cap rate of 5.69%, presenting an attractive opportunity to capture incremental upside as all units stabilize at market rents in a submarket with a 4.3% vacancy rate.
Priced at $600,000 per unit and $332 per square foot, the portfolio delivers institutional-quality 2024/ 2026 construction at pricing well below replacement cost.
All seven duplexes are delivered move-in ready with zero near-term capital expenditure requirements for the incoming investor.
Spanning seven lots individually parceled totaling ±77,102 SF with ±25,280 SF of rentable area, the portfolio offers generously sized residences averaging 1,863 square feet — far exceeding conventional multifamily unit sizes in the market.
The unit mix of 3-bedroom/2.5-bathroom, 4-bedroom/2.5-bathroom, and 5-bedroom/3-bathroom configurations features designer finishes throughout, open-concept layouts, quartz countertops, kitchen islands, stainless steel appliances, luxury vinyl flooring, walk-in closets, dual vanities, and in-unit laundry rooms with washer and dryer included.
Each unit includes an attached two-car garage, private front and rear yards with patios, drought-resistant decomposed granite landscaping, central HVAC, and solar energy systems to reduce monthly ownership costs.
Positioned north of the 91 Freeway and south of the 60 Freeway with direct access to the 15 and I-215 Freeways, the portfolio offers residents seamless regional connectivity to LA and Orange County.
The portfolio is anchored by a diverse base of major employers including Kaiser Permanente Riverside Medical Center, Riverside Community Hospital, University of California Riverside, California Baptist University, the County of Riverside, and Collins Aerospace.
Located just 3.7 miles from the La Sierra Metrolink Station with direct service to LA Union Station, the portfolio is highly attractive to the Inland Empire's growing commuter and student renter base.
Get in touch
Eric Chen
Lic: 01489184
Blake Torgerson
Lic: 01919955
Mikel Dominguez
Lic: 02189109
CBRE is pleased to exclusively present an exceptional new construction multifamily investment opportunity — a seven-duplex, 14-unit portfolio in the La Sierra Acres area of Riverside, California, offering immediate passive income and long-term wealth creation in one of the Inland Empire's most dynamic submarkets.
Located at 5832-5834 Norwood Avenue, 5816-5853 Persepolis Court and 10663-10665 Alborz Court, this portfolio is ideally situated near Kaiser Permanente Riverside Medical Center, La Sierra University, and the Galleria at Tyler, placing residents within minutes of the region's most prominent healthcare, education, and retail destinations with direct connectivity via the 91, 60, 15, and I-215 Freeways. The portfolio is currently generating a 5.48% cap rate, with a pro forma cap rate of 5.69% and additional upside remaining to be captured as all units stabilize at market rents.
Property Highlights
The 14-Unit Portfolio spans seven lots individually parceled totaling a combined ±77,102 square feet with a total rentable area of ±25,280 square feet. Built in 2024 and 2026, each two-story townhome-style duplex delivers large, well-appointed residences averaging 1,863 square feet. The portfolio offers a diverse unit mix of four 3-bedroom/2.5-bathroom homes at 1,603 square feet, eight 4-bedroom/2.5-bathroom homes at 1,950 square feet, and two 5-bedroom/3-bathroom units at 2,034 square feet. Every residence features an open-concept layout with high ceilings and abundant natural light, a designer kitchen with a center island, quartz countertops, custom self-closing cabinetry, and stainless steel appliances including electric range, oven, dishwasher, microwave, and refrigerator. Additional interior features include luxury vinyl flooring throughout, recessed lighting, ceiling fans, a walk-in pantry, walk-in closets, and dual vanities in the primary bathroom suite. Each home includes a dedicated upper-level laundry room with washer and dryer, central air conditioning and heating, and solar energy systems to offset monthly utility costs. Exterior features include attached two-car garages, private front and rear yards with patios, and drought-resistant decomposed granite landscaping maintained to a high standard across all three sites.
Thriving Economy & Top Employers
Situated in southwest Riverside's established La Sierra Acres neighborhood, the portfolio offers suburban tranquility alongside exceptional regional connectivity. Surrounding retail and lifestyle amenities, anchored by the Galleria at Tyler and nearby Castle Park, directly enhance resident quality of life, while the La Sierra Metrolink Station (3.7 miles) provides direct transit to LA Union Station. As the Inland Empire's civic anchor, Riverside benefits from major regional employers, including Kaiser Permanente, Riverside Community Hospital, UC Riverside, and Collins Aerospace. Local educational institutions and healthcare hubs fuel robust rental demand from diverse professionals, supported by an average household income of $111,189 and a tight 4.3% multifamily vacancy rate, reinforcing long-term market stability.
Stabilized Investment Opportunity
This 14-Unit Portfolio is a stable, income-producing asset in one of Southwest Riverside's most supply-constrained neighborhoods, offering investors a brand-new, non-rent-controlled product in a market where comparable quality is nearly nonexistent. Each duplex is individually parceled, providing investors with multiple exit strategies including the flexibility to sell assets independently over time. Whether you are a first-time investor seeking a turnkey entry into the Inland Empire multifamily market, a seasoned investor looking to add institutional-quality new construction to your portfolio, or pursuing a 1031 Exchange, this portfolio offers immediate cash flow, generational wealth potential, and the long-term stability of a purpose-built, modern asset.
Located at 5832-5834 Norwood Avenue, 5816-5853 Persepolis Court and 10663-10665 Alborz Court, this portfolio is ideally situated near Kaiser Permanente Riverside Medical Center, La Sierra University, and the Galleria at Tyler, placing residents within minutes of the region's most prominent healthcare, education, and retail destinations with direct connectivity via the 91, 60, 15, and I-215 Freeways. The portfolio is currently generating a 5.48% cap rate, with a pro forma cap rate of 5.69% and additional upside remaining to be captured as all units stabilize at market rents.
Property Highlights
The 14-Unit Portfolio spans seven lots individually parceled totaling a combined ±77,102 square feet with a total rentable area of ±25,280 square feet. Built in 2024 and 2026, each two-story townhome-style duplex delivers large, well-appointed residences averaging 1,863 square feet. The portfolio offers a diverse unit mix of four 3-bedroom/2.5-bathroom homes at 1,603 square feet, eight 4-bedroom/2.5-bathroom homes at 1,950 square feet, and two 5-bedroom/3-bathroom units at 2,034 square feet. Every residence features an open-concept layout with high ceilings and abundant natural light, a designer kitchen with a center island, quartz countertops, custom self-closing cabinetry, and stainless steel appliances including electric range, oven, dishwasher, microwave, and refrigerator. Additional interior features include luxury vinyl flooring throughout, recessed lighting, ceiling fans, a walk-in pantry, walk-in closets, and dual vanities in the primary bathroom suite. Each home includes a dedicated upper-level laundry room with washer and dryer, central air conditioning and heating, and solar energy systems to offset monthly utility costs. Exterior features include attached two-car garages, private front and rear yards with patios, and drought-resistant decomposed granite landscaping maintained to a high standard across all three sites.
Thriving Economy & Top Employers
Situated in southwest Riverside's established La Sierra Acres neighborhood, the portfolio offers suburban tranquility alongside exceptional regional connectivity. Surrounding retail and lifestyle amenities, anchored by the Galleria at Tyler and nearby Castle Park, directly enhance resident quality of life, while the La Sierra Metrolink Station (3.7 miles) provides direct transit to LA Union Station. As the Inland Empire's civic anchor, Riverside benefits from major regional employers, including Kaiser Permanente, Riverside Community Hospital, UC Riverside, and Collins Aerospace. Local educational institutions and healthcare hubs fuel robust rental demand from diverse professionals, supported by an average household income of $111,189 and a tight 4.3% multifamily vacancy rate, reinforcing long-term market stability.
Stabilized Investment Opportunity
This 14-Unit Portfolio is a stable, income-producing asset in one of Southwest Riverside's most supply-constrained neighborhoods, offering investors a brand-new, non-rent-controlled product in a market where comparable quality is nearly nonexistent. Each duplex is individually parceled, providing investors with multiple exit strategies including the flexibility to sell assets independently over time. Whether you are a first-time investor seeking a turnkey entry into the Inland Empire multifamily market, a seasoned investor looking to add institutional-quality new construction to your portfolio, or pursuing a 1031 Exchange, this portfolio offers immediate cash flow, generational wealth potential, and the long-term stability of a purpose-built, modern asset.
Riverside County, California is the fourth largest county in California and the tenth largest in the United States. It’s about 180 miles wide and covers more than 7,300 square miles. The county is home to 2.4 million residents. Riverside County was created in 1893 from parts of San Diego and San Bernardino counties. The county’s name comes from the City of Riverside, which was named in 1871 when the Santa Ana River’s upper canal reached it. Riverside is a city in and the county seat of Riverside County, which has 24 nationally registered historic sites and more than 100 city landmarks. It also offers a variety of museums, theaters, festivals, markets, and unique shopping experiences. Riverside the most populous city in the Inland Empire and in Riverside County, and is about 50 miles southeast of downtown Los Angeles. Known for its citrus industry and as the city of arts and innovation, visitors and residents enjoy cultural activities including downtown museums, restaurants and performing arts centers.
Riverside is also more affordable than major Golden State cities like Los Angeles or San Francisco. Due to Riverside’s warm, dry climate, the average electricity rates are 33% lower than the California average. The Riverside Chamber of Commerce says that the real estate market’s growth is Riverside’s main economic driver. Riverside’s transportation, retail, employment, innovation and private investment all make up an attractive environment for businesses. Riverside has experienced $1.5 billion in private investment in the past five years while Riverside County’s retail market has been resilient. In 2021, employment gains were largest in leisure services, professional business services, private education and healthcare, and retail trade.
The Inland Empire, which includes Riverside and San Bernardino Counties, has a network of innovation centers that drive investment and job growth. The City of Riverside is committed to building inclusive partnerships for sustainable, resilient economic development through strategies to stimulate a favorable investment climate, welcome entrepreneurship, encourage industry and talent diversity, expand living wage jobs and support our unique quality of place. As a world-class city of Arts and Innovation, Riverside is the city of choice in Southern California: a place where people of diverse talents choose to work and live and where entrepreneurs and businesses choose to locate and invest. The City offers a rich agricultural heritage, unique architecture, affordable housing stock and business friendly environment that is unique to Southern California.
Anchored by two historic performing arts centers managed by Live Nation, downtown Riverside offers the best in nightlife and entertainment, all within steps of the Riverside Convention Center and downtown hotels. A lively restaurant, bar/pub and nightclub scene is a constant in downtown Riverside, with numerous annual festivals, including the famed six-week Festival of Lights (the Top Holiday Lighting event in the United States), the Lunar Fest, and Dicken’s Festival regularly enlivening downtown.
Riverside is also more affordable than major Golden State cities like Los Angeles or San Francisco. Due to Riverside’s warm, dry climate, the average electricity rates are 33% lower than the California average. The Riverside Chamber of Commerce says that the real estate market’s growth is Riverside’s main economic driver. Riverside’s transportation, retail, employment, innovation and private investment all make up an attractive environment for businesses. Riverside has experienced $1.5 billion in private investment in the past five years while Riverside County’s retail market has been resilient. In 2021, employment gains were largest in leisure services, professional business services, private education and healthcare, and retail trade.
The Inland Empire, which includes Riverside and San Bernardino Counties, has a network of innovation centers that drive investment and job growth. The City of Riverside is committed to building inclusive partnerships for sustainable, resilient economic development through strategies to stimulate a favorable investment climate, welcome entrepreneurship, encourage industry and talent diversity, expand living wage jobs and support our unique quality of place. As a world-class city of Arts and Innovation, Riverside is the city of choice in Southern California: a place where people of diverse talents choose to work and live and where entrepreneurs and businesses choose to locate and invest. The City offers a rich agricultural heritage, unique architecture, affordable housing stock and business friendly environment that is unique to Southern California.
Anchored by two historic performing arts centers managed by Live Nation, downtown Riverside offers the best in nightlife and entertainment, all within steps of the Riverside Convention Center and downtown hotels. A lively restaurant, bar/pub and nightclub scene is a constant in downtown Riverside, with numerous annual festivals, including the famed six-week Festival of Lights (the Top Holiday Lighting event in the United States), the Lunar Fest, and Dicken’s Festival regularly enlivening downtown.
Total Space Available
25,280 sqft
Sale Price
$8,400,000
Place
Galleria at Tyler
Retail
2.9 miles
6 min.
/drive
UCR
University
8.2 miles
15 min.
/drive
Cal Baptist University
University
5.1 miles
10 min.
CommuterRail
La Sierra Metrolink Station
3.7 miles
6 min.
/drive
Airport
Ontario International Airport
14.6 miles
20 min.
/drive
Get in touch
Eric Chen
Lic: 01489184
Blake Torgerson
Lic: 01919955
Mikel Dominguez
Lic: 02189109