Greg Malik Real Estate
1175 Villa Street
Riverside, CA 92507

Description

A Fantastic Investment Cash Flow property in Riverside, Highgrove Area. 1175 Villa St., Riverside is an 8-Unit Apartment Complex, comprised of 2 structures. Very attractive unit mix with 1 unit 2 Bedroom, 7 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 6.44%). Total Building size of 5,100 Rentable SF. and 14,375 SF. Lot Size. Large Courtyard. All units are individually metered for electricity and gas. 8 individual water heaters. Assigned 8 Carport parking space for all units. 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: 1190 Villa St., 411 Pacific Ave. and 412 Glen Ave. are also for sale. All properties can be purchased together or separately.

Details

MLS#TR19008915
Sub-TypeResale
StatusActive
Year1950
Days On Site5

Features

SQ Feet5,100
Units8
Building(s)1

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Area Information

StateCA
CountyRiverside
CityRiverside
Zip Code92507
Area252 - Riverside
Listing VS Median (in 92507)
Price:
$977,000
low | high
Med:
$362,000
100% of Average
SqFt:
5,100
low | high
Med:
1,040
100% of Average
$ / SqFt:
$192
low | high
Med:
$348
31.698291473112% of Average
On Site:
5
low | high
Med:
10
50% of Average
Listing Updated: 01/15/2019
MLS Number: TR19008915
Listing Provided By:
Kevin Lee  of  Coldwell Banker George Realty
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