411 Pacific Avenue, Riverside, CA 92507

$1,500,000
8,372
SqFt
List Price
$1,500,000
Status
ACTIVE
MLS#
TR19008893
Year Built
1943
Living Sq. Ft
8,372
Lot Size
16,117
Lot Location
Lot 10000-19999 Sqft
Days on Market
5
Property Type
Multifamily
Property Sub Type
Apartment
Stories
One Level

Property Description

A Fantastic Investment Cash Flow property in Riverside, Highgrove Area. 411 Pacific Ave., Riverside is an 12-Unit Apartment Complex, comprised of 2 structures. Very attractive unit mix with 4 unit – 2 Bedroom, 8 units – 1 Bedroom. This is an extremely rare investment offer. Great cash flow. Huge upside in Rent (Approx. 15% upside in rent. Stabilized CAP Rate is over 6.43%). Total Building size of 8,372 Rentable SF. and 16,117 SF. Lot Size. Large Courtyard. All units are individually metered for electricity and gas. 12 individual water heaters. Assigned 15 Carport parking space for all units. 2 Septic Tanks System and Roof were upgraded in Year 2015. Well maintained property. High rental demand area with very low vacancy rate. Conveniently located near the 215 Freeway. Rents are currently below market with significant upside in this Non-Rent Control area. Adjacent properties: 1175 Villa St., 1190 Villa St. and 412 Glen Ave. are also for sale. All properties can be purchased together or separately.

Additional Information

Tract Number
423.00
Lot Description
Gated Community, Sidewalks
Appliances
Gas Stove, Gas Water Heater
Pool Description
None
Heat
Wall Heater
View
Mountain
Roof
Composition
Sewer
Conventional Septic
Water
Public
Attached Structure
Detached

Mortgage Calculator

Amount of Loan
Annual Interest Rate
%
Term of Loan
Years

Does not include any taxes or fees.
Please consult a financial professional.
Calculator source: Real Geeks

Listing courtesy of Kevin Lee from Coldwell Banker George Realty

Based on information from California Regional Multiple Listing Service, Inc. as of . 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, 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.