Greg Malik Real Estate
412 Glen Avenue
Riverside, CA 92507

Description

A Fantastic Investment Cash Flow property in Riverside, Highgrove Area. 412 Glen Ave., 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 6.18%). Total Building size of 4,925 Rentable SF. and 17,424 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: 1175 Villa St., 1190 Villa St. and 411 Pacific Ave. are also for sale. All properties can be purchased together or separately.

Details

MLS#TR19008874
Sub-TypeResale
StatusActive
Year1950
Days On Site6

Features

SQ Feet4,925
Units8
Building(s)1

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Area Information

StateCA
CountyRiverside
CityRiverside
Zip Code92507
Area252 - Riverside
Listing VS Median (in 92507)
Price:
$960,000
low | high
Med:
$354,850
100% of Average
SqFt:
4,925
low | high
Med:
1,378
100% of Average
$ / SqFt:
$195
low | high
Med:
$263
15.293426003345% of Average
On Site:
6
low | high
Med:
11
54.545454545455% of Average
Listing Updated: 01/16/2019
MLS Number: TR19008874
Listing Provided By:
Kevin Lee  of  Coldwell Banker George Realty
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