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.

  • MLS# TR19008893
  • Sub-Type Resale
  • Status Active
  • Year 1943
  • Days On Site 8
SQ Feet 8,372
Units 12
Building(s) 1
Listing Provided By:
Kevin Lee  of  Coldwell Banker George Realty
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
this listing $1,500,000
315.57%
$360,950 in 92507
this listing 8,372 SqFt
648.84%
1,118 SqFt in 92507
this listing $179 $/SqFt
44.79%
$324 $/SqFt in 92507
this listing 8 on site
38.46%
13 on site in 92507

Location

State CA
County Riverside
City Riverside
Zip Code 92507
Area 252 - Riverside

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