Greg Malik Real Estate
1190 Villa Street
Riverside, CA 92507

Description

A Fantastic Investment Cash Flow property in Riverside, Highgrove Area. 1175 Villa St., 1190 Villa St., 411 Pacific Ave. and 412 Glen Ave., Riverside is an 38-Unit Apartment Complex, comprised of 8 structures. Very attractive unit mix with 10 unit 2 Bedroom, 28 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 6.31%). Total Building size of 24,621 Rentable SF. and 66,211 SF. Lot Size. Large Courtyard. All units are individually metered for electricity and gas. 38 individual water heaters. Total 41 Assigned Parking Spaces (31 Carport & 10 Open Air parking spaces). 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. All 4 Properties: 1175 Villa St., 1190 Villa St. and 411 Pacific Ave. and 412 Glen are available to be purchased separately.

Details

MLS#TR19008955
Sub-TypeResale
StatusActive
Year1950
Days On Site9

Features

SQ Feet24,621
Units38
Building(s)1

Loading Form

Loading Form

Area Information

StateCA
CountyRiverside
CityRiverside
Zip Code92507
Area252 - Riverside
Listing VS Median (in 92507)
Price:
$4,680,000
low | high
Med:
$360,950
100% of Average
SqFt:
24,621
low | high
Med:
1,118
100% of Average
$ / SqFt:
$190
low | high
Med:
$324
20.715242046137% of Average
On Site:
9
low | high
Med:
14
64.285714285714% of Average
Listing Updated: 01/19/2019
MLS Number: TR19008955
Listing Provided By:
Kevin Lee  of  Coldwell Banker George Realty
Real Estate Links Our Domains