Greg Malik Real Estate
1190 Villa Street
Riverside, CA 92507

$1,330,000

Description

A Fantastic Investment Cash Flow property in Riverside, Highgrove Area. 1190 Villa St., Riverside is an 10-Unit Apartment Complex, comprised of 2 structures. Very attractive unit mix with 4 unit 2 Bedroom, 6 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 6.50%). Corner Lot, with a total Building size of 6,224 Rentable SF. and 18,295 SF. Lot Size. Large Courtyard. All units are individually metered for electricity and gas. 10 individual water heaters. Assigned 10 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., 411 Pacific Ave. and 412 Glen Ave. are also for sale. All properties can be purchased together or separately.

Details

MLS#TR19008930
Sub-TypeResale
StatusActive
Year1950
Days On Site10

Features

SQ Feet6,224
Units10
Building(s)1

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Area Information

StateCA
CountyRiverside
CityRiverside
Zip Code92507
Area252 - Riverside
Listing VS Median (in 92507)
Price:
$1,330,000
low | high
Med:
$359,900
100% of Average
SqFt:
6,224
low | high
Med:
1,196
100% of Average
$ / SqFt:
$214
low | high
Med:
$301
9.178615434908% of Average
On Site:
10
low | high
Med:
14
71.428571428571% of Average
Listing Updated: 01/20/2019
MLS Number: TR19008930
Listing Provided By:
Kevin Lee  of  Coldwell Banker George Realty
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