Greg Malik Real Estate
411 Pacific Avenue
Riverside, CA 92507

$1,500,000

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.

Details

MLS#TR19008893
Sub-TypeResale
StatusActive
Year1943
Days On Site7

Features

SQ Feet8,372
Units12
Building(s)1

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Area Information

StateCA
CountyRiverside
CityRiverside
Zip Code92507
Area252 - Riverside
Listing VS Median (in 92507)
Price:
$1,500,000
low | high
Med:
$360,950
100% of Average
SqFt:
8,372
low | high
Med:
1,118
100% of Average
$ / SqFt:
$179
low | high
Med:
$324
31.113333333333% of Average
On Site:
7
low | high
Med:
12
58.333333333333% of Average
Listing Updated: 01/17/2019
MLS Number: TR19008893
Listing Provided By:
Kevin Lee  of  Coldwell Banker George Realty
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