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Off Market Jun 2025 for $3.3M

—

Est. refi paymentEst. refi $5,531/mo

•

14,529

sq ft

3060 Panorama Rd, Riverside, CA 92506

About this home

We are proud to present an exceptional opportunity to acquire a unit 12-Unit multifamily property located at 3060 Panorama Road in the city of Riverside. Running adjacent to the 91 Freeway, off of Central Avenue and Ivy Street, the property consists of ±14,529 SF of rentable square feet and is situated on a generous ±112,820 SF hillside lot. The property boasts mature landscaping with lovely mountain views, and onsite carport and surface parking. The units are spacious with an average size of 1,211 SF and feature upgraded fully equipped kitchens with electric stoves and oven ranges, dishwashers, in-unit washer and dryer hook-ups, horizontal blinds, AC/heating, modern fixtures, large walk-in closets, spacious patios or balconies, and a combination of stylish plank wood and carpet flooring throughout. 3060 Panorama Road offers a central location with convenient access to the Metrolink Downtown Riverside Commuter Rail Station. The property is also close to shopping centers, theaters, restaurants, and trendy shops, catering to diverse needs and providing excellent entertainment options. The Inland Empire, and Riverside in particular, presents a compelling opportunity for multifamily investors seeking portfolio expansion. Riverside benefits from a robust and growing workforce, anchored by the presence of major regional distribution centers. These hubs of commerce attract a consistent influx of new residents seeking employment, creating a reliably strong and stable demand for rental housing. The area’s economic foundation, driven by logistics and distribution, provides a level of stability that can be particularly appealing to investors looking for long-term growth and minimal vacancy risk. Furthermore, the Inland Empire, while experiencing growth, often offers more competitive entry points compared to other Southern California markets, making it an attractive option for investors looking to diversify their holdings or enter the multifamily market. 3060 Panorama Road is a stable income-producing asset in the Inland Empire, promising a strong return on investment. Whether you’re a first-time investor seeking to enter the market, a seasoned investor looking to expand your portfolio, or considering a 1031 Exchange, this property offers exceptional stability and long-term value.

Multi-familyProperty Type

1968Year Built

2.59 acresLot Size

$227Price/Sq.Ft.

23 spacesParking

Listed by Eric Chen •DRE #01489184 • CB RICHARD ELLIS

Contact: 626-757-5717

Bought with Yang Zheng •DRE #01989658 • Universal Elite Inc.

Redfin checked: 2 minutes ago

•Source:CRMLS #CV25042378

Redfin Estimate

There isn’t enough information to generate an accurate estimate at this time. Learn More

Market trends in 92506, CA

Last updated August 2026

Buyer's Market

Seller's Market

Seller's market

Sale-to-List Price

99.6%

0.6% MoM

Median sale price

$725K

$5K MoM

Avg. days on market

41d

12 days MoM

Recently sold homes

135

12 MoM

New listings for sale

NEW 3 HRS AGO
$499,000
4 beds2 baths1,760 sq ft
6631 Wintertree Dr, Riverside, CA 92506
COLDWELL BANKER REALTY
COMING SOON
$720,000
3 beds2 baths1,839 sq ft
4450 Beechwood, Riverside, CA 92506
OPEN SAT, 12PM TO 3PM
$699,000
3 beds2 baths1,780 sq ft
6319 Westview, Riverside, CA 92506
NEW 26 HRS AGO
$300,000
2 beds2 baths1,234 sq ft
6979 Palm Ct Unit 211C, Riverside, CA 92506
NEW 32 HRS AGO
$1,350,000
5 beds5 baths3,966 sq ft
7455 Jola, Riverside, CA 92506
OPEN SUN, 11AM TO 2PM
$675,000
3 beds2 baths1,806 sq ft
6544 Rycroft, Riverside, CA 92506
3D WALKTHROUGH
$950,000
4 beds2 baths1,998 sq ft
8015 Gopher Gulch Rd, Riverside, CA 92506
OPEN SAT, 12PM TO 3PM
$625,000
4 beds2.5 baths2,188 sq ft
440 Elsmere Dr, Riverside, CA 92506
NEST REAL ESTATE
$695,000
3 beds2 baths1,306 sq ft
4574 Central Ave, Riverside, CA 92506
VIDEO TOUR
$1,458,000
6 beds5 baths4,893 sq ft
15181 Kellen Ct, Riverside, CA 92506
Vista Sotheby's International Realty
See all

Provided by Redfin

Sale history for 3060 Panorama Rd

Date

Event

Price

CRMLS #CV25042378

Jun 5, 2025

Sold

$3,300,000

$227/sq ft

Apr 22, 2025

Pending

—

Feb 26, 2025

Listed

$3,350,000

$231/sq ft

Public Records

Jul 29, 2013

Sold

$1,280,000

$88/sq ft

CRMLS #T09135040

Apr 18, 2011

Sold

$1,050,000

$72/sq ft

Dec 17, 2010

Pending

—

Aug 25, 2010

Price Changed

$1,250,000

$86/sq ft

Dec 31, 2009

Listed

$1,499,990

$103/sq ft

Public Records

May 27, 2004

Sold

$742,500

$51/sq ft

CRMLS #C400982

May 27, 2004

Sold

$1,475,000

$102/sq ft

Jan 21, 2004

Listed

$1,525,000

$105/sq ft

Public Records

Apr 30, 2002

Sold

$675,000

$46/sq ft

Year

Property tax

Land + Additions

Assessment*

2025

$18,164 (+3.3%)

$858,099 + $710,995

$1,569,094

2024

$17,587 (+0.4%)

$858,099 + $710,995

$1,569,094

2023

$17,512 (+1.8%)

$841,274 + $697,054

$1,538,328

2022

$17,199 (+2.3%)

$824,779 + $683,387

$1,508,166

2020

$16,810 (+1.9%)

$792,752 + $656,851

$1,449,603

2019

$16,502 (+1.9%)

$784,624 + $650,116

$1,434,740

2018

$16,189 (+1.8%)

$769,240 + $637,369

$1,406,609

2017

$15,909 (+6.7%)

$739,370 + $612,620

$1,351,990

2016

$14,917 (+1.6%)

$739,370 + $612,620

$1,351,990

2015

$14,680 (+1.1%)

$724,873 + $600,608

$1,325,481

2014

$14,515 (+16.0%)

$700,000 + $580,000

$1,280,000

2013

$12,510 (+2.6%)

$700,000 + $580,000

$1,280,000

2012

$12,198 (−9.8%)

$587,826 + $509,796

$1,097,622

2011

$13,528 (+0.2%)

$576,300 + $499,800

$1,076,100

2010

$13,501 (+0.5%)

$800,000 + $400,000

$1,200,000

2009

$13,440 (+0.9%)

$800,000 + $400,000

$1,200,000

2008

$13,314

$800,000 + $400,000

$1,200,000

Tax history for 3060 Panorama Rd

Year

Property tax

Land + Additions

Assessment*

2025

$18,164 (+3.3%)

$858,099 + $710,995

$1,569,094

2024

$17,587 (+0.4%)

$858,099 + $710,995

$1,569,094

2023

$17,512 (+1.8%)

$841,274 + $697,054

$1,538,328

2022

$17,199 (+2.3%)

$824,779 + $683,387

$1,508,166

2020

$16,810 (+1.9%)

$792,752 + $656,851

$1,449,603

2019

$16,502 (+1.9%)

$784,624 + $650,116

$1,434,740

2018

$16,189 (+1.8%)

$769,240 + $637,369

$1,406,609

2017

$15,909 (+6.7%)

$739,370 + $612,620

$1,351,990

2016

$14,917 (+1.6%)

$739,370 + $612,620

$1,351,990

2015

$14,680 (+1.1%)

$724,873 + $600,608

$1,325,481

2014

$14,515 (+16.0%)

$700,000 + $580,000

$1,280,000

2013

$12,510 (+2.6%)

$700,000 + $580,000

$1,280,000

2012

$12,198 (−9.8%)

$587,826 + $509,796

$1,097,622

2011

$13,528 (+0.2%)

$576,300 + $499,800

$1,076,100

2010

$13,501 (+0.5%)

$800,000 + $400,000

$1,200,000

2009

$13,440 (+0.9%)

$800,000 + $400,000

$1,200,000

2008

$13,314

$800,000 + $400,000

$1,200,000

*Taxable value of land and structures on it ("additions") is determined regularly by local assessors and does not affect market price.

Public record

Public record
Zoning

Beds

—

Baths

—

Stories

—

Lot width

—

Lot depth

—

Lot size

2.59 Acres

Year renovated

—

Sq. Ft.

—

Year built

—

Style

Multi-Family (5+ Unit)

County

Riverside County

APN

219250006

Parking Spaces

—

Basement

—

Accessible

—

HOA Dues

—

Garage

—

Features

—

Last updated by owner on Aug 8, 2026.

Residential Conservation Zone

The Residential Conservation Zone (RC) is established consistent with General Plan objectives and voter approved initiatives (Proposition R and Measure C) to protect prominent ridges, hilltops and hillsides, slopes, arroyos, ravines and canyons, and other areas with high visibility or topographic conditions that warrant sensitive development from adverse development practices, and specifically, to achieve the following objectives: To preserve and enhance the beauty of the City's landscape; To maximize the retention of the City's natural topographic features, including, but not limited to, skyline profiles, ridgelines, ridge crests, hilltops, hillsides, slopes, arroyos, ravines, canyons, prominent trees and rock outcrops, view corridors, and scenic vistas through the careful selection and construction of building sites and building pads on said topographic features.; To assure that residential use of said topographic features will relate to the surrounding topography and will not be conspicuous and obtrusive because of the design and location of said residential use; To reduce the scarring effects of excessive grading for building pads and cut and fill slopes; To prevent the construction of slopes inadequately protected from erosion, deterioration or slippage and To conserve the City's natural topographic features.

Permitted uses

Include but are not limited to:

Agriculture
Greenhouse / nursery
Ranch
Housing-Group
Housing-Single unit
Housing-Other
Agriculture-Cropland
Agriculture-Grove / orchard / vineyard

Property details

Parking

Parking / Garage Information
Uncovered Spaces: 3
# of Carport Spaces: 20
# of Parking Spaces: 23

Interior

Laundry Information
Has Laundry
Gas Dryer Hookup, Inside, Washer Hookup

Cooling Information
Central
Has Cooling

Heating Information
Central Furnace
Has Heating

Interior Features
Entry Level: 1
Entry Location: 1
Levels: Two

Unit Type 1 Information
Unit Key Numeric: 11786497
Listing Key Numeric: 373994386
Actual Rent: $1,595
Total # of Baths: 1
# of Baths Full: 1
Total # of Beds: 1
Furnished: Unfurnished
Total Rent: $19,140
Total # of Units: 1

Unit Type 2 Information
Unit Key Numeric: 11786498
Listing Key Numeric: 373994386
Actual Rent: $1,675
Total # of Baths: 1
# of Baths Full: 1
Furnished: Unfurnished
Total # of Beds: 2
Total Rent: $20,100
Total # of Units: 1

Unit Type 3 Information
Listing Key Numeric: 373994386
Unit Key Numeric: 11786499
Actual Rent: $2,095
Total # of Baths: 2
# of Baths Full: 2
Total # of Beds: 2
Furnished: Unfurnished
Total Rent: $25,140
Total # of Units: 1

Unit Type 4 Information
Listing Key Numeric: 373994386
Unit Key Numeric: 11786500
Actual Rent: $2,038
Total # of Baths: 2
# of Baths Full: 2
Total # of Beds: 2
Furnished: Unfurnished
Total Rent: $73,380
Total # of Units: 3

Unit Type 5 Information
Unit Key Numeric: 11786501
Listing Key Numeric: 373994386
Actual Rent: $1,837
Total # of Baths: 3
# of Baths Full: 2
# of Baths Half: 1
Total # of Beds: 2
Furnished: Unfurnished
Total Rent: $132,240
Total # of Units: 6

Expenses
Fuel Expense: $69
Trash: $6,199
Total: $89,700
Pest Control: $3,160
Maintenance: $8,400
Insurance: $9,000
Water Sewer: $4,000
New Taxes: $38,110
Gardener: $3,025

Multi-Unit Information
Net Operating Income: $166,800
Average 3 Bed Area Units: Sq. Ft.
Average 2 Bed Area Units: Sq. Ft.
Average 1 Bed Area Units: Sq. Ft.
Sq. Ft.
Total Building Area: 14,529
Gross Scheduled Income: $270,000
Gross Operating Income: $256,500
Gross Multiplier: 12.41
Gross Income: $270,000
# Of Leased Units: 12
# Of Separate Water Meters: 12
# Of Separate Gas Meters: 12
# Of Separate Electric Meters: 12
# Of Buildings: 3
Vacancy Allowance: 13500

Exterior

Exterior Features
Pool Features: None

Lot Information
Elevation Units: Feet
Lot Size Source: Assessor's Data
Lot Features: 11-15 Units/Acre

Property Information
Common Interest: Community Apartment
Total # of Units: 12
Common Walls: 1 common wall
Parcel Number: 219250006
Attached Property
Total # of Stories: 2
Year Built Source: Assessor
Property ADU: No

Financial

Lease / Rental Details
Operating Expense: $89,700
Other Expense: $2,400
Other Expense Description: Reserves
Rent Control
Total Actual Rent: $270,000

Utilities

Utilities Information
Sewer: Public Sewer
Water Source: District/Public

Location

Neighborhood Information
Community Features: Curbs, Sidewalks

Location Information
Latitude: 33.96150300
Longitude: -117.37913600
Directions: Merge onto CA-91 W toward Riverside/Beach Cities, Take exit 63 toward 14th St, Use the 2nd from the right lane to turn right onto 14th St, Turn left onto Olivewood Ave, Turn left onto Panorama Rd
Zoning: R3

Public facts

Beds: —
Baths: —
Sq. Ft.: —
Stories: —
Lot Size: 2.59 acres
Style: Multi-Family (5+ Unit)
Year Built: —
Year Renovated: —
County: Riverside County
APN: 219250006

Home facts updated by county records on Aug 8, 2026

Other

Listing Information
IDX Contact Info: 626-757-5717
Days Active in MLS: 55
Continuous Days Active in MLS: 55

Listing Agent Information
List Agent First Name: ERIC
List Agent Last Name: CHEN

Listing Office Information
List Office Name: CB RICHARD ELLIS

Selling Agent Information
Buyer Agent First Name: Yang
Buyer Agent Last Name: Zheng

Selling Office Information
Buyer Office Name: Universal Elite Inc.

Around this home

Schools

Alcott Elementary School

Public K-6 • Assigned • 1.0mi

4/10

Central Middle School

Public 7-8 • Assigned • 0.8mi

4/10

Polytechnic High School

Public 9-12 • Assigned • 0.9mi

6/10

Provided by GreatSchools

Lifestyle

Provided by Walk Score and Local Logic

Climate risks

1/10 Flood Factor

Minimal risk of a flood reaching the building in the next 30 years

2/10 Fire Factor

0.00% chance of being in a wildfire in next 30 years

8/10 Heat Factor

7 days above 102° expected this year, 20 days in 30 years

1/10 Wind Factor

Minimal risk of severe winds over next 30 years

10/10 Air Factor

27 unhealthy days expected this year, 32 days in 30 years

Provided by First Street

Historical weather

Riverside, CA • 92506

Average low and high temperatures (°F)

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Sun exposure

In this area, properties receive around 10 hours in June and 7 hours in December, placing it above the U.S. average for solar exposure.

10 hrs

7 hrs

JuneDecember

Provided by Shadowmap

Is this your home?

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New listings for sale in 92506

NEW 3 HRS AGO

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OPEN SAT, 12PM TO 3PM

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NEW 26 HRS AGO

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2 beds2 baths1,234 sq ft

6979 Palm Ct Unit 211C, Riverside, CA 92506

NEW 32 HRS AGO

$1,350,000

5 beds5 baths3,966 sq ft

7455 Jola, Riverside, CA 92506

OPEN SUN, 11AM TO 2PM

$675,000

3 beds2 baths1,806 sq ft

6544 Rycroft, Riverside, CA 92506

3D WALKTHROUGH

$950,000

4 beds2 baths1,998 sq ft

8015 Gopher Gulch Rd, Riverside, CA 92506

OPEN SAT, 12PM TO 3PM

$625,000

4 beds2.5 baths2,188 sq ft

440 Elsmere Dr, Riverside, CA 92506

NEST REAL ESTATE

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Home values near 3060 Panorama Rd

Data from public records.

Address	Redfin Estimate
3064 Panorama Road Unit C, Riverside, CA 2 Beds \| 2 Baths \| 1023 Sq. Ft.	$339,003
3064 Panorama Road Unit A, Riverside, CA 2 Beds \| 2 Baths \| 1023 Sq. Ft.	$310,213

Address	Redfin Estimate
3064 Panorama Road Unit D, Riverside, CA 2 Beds \| 2 Baths \| 1023 Sq. Ft.	$296,654
3066 Panorama Road Unit D, Riverside, CA 1 Beds \| 1 Baths \| 654 Sq. Ft.	$204,451

Address	Redfin Estimate
3064 Panorama Road Unit B, Riverside, CA 2 Beds \| 2 Baths \| 1023 Sq. Ft.	$310,688
3066 Panorama Road Unit C, Riverside, CA 1 Beds \| 1 Baths \| 654 Sq. Ft.	$213,261

Property information provided by CRMLS when last listed in 2025. This data may not match . Learn more.

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GreatSchools Ratings provided by GreatSchools.org.

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About this home

Redfin Estimate

Market trends in 92506, CA

Sale history for 3060 Panorama Rd

Tax history for 3060 Panorama Rd

Public record

Property details

Around this home

Schools

Lifestyle

Climate risks

Historical weather

Sun exposure

Is this your home?

Nearby similar homes

New listings for sale in 92506

Home values near 3060 Panorama Rd

More real estate resources