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$3,150,000
Est. payment /mo
16 Beds
16 Baths
11,895 SqFt
UPDATED:
12/10/2024 05:13 PM
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 11,895 sqft
Price per Sqft $264
MLS Listing ID 24468157
Bedrooms 16
HOA Y/N No
Year Built 1959
Lot Size 0.430 Acres
Property Description
We are pleased to present 1806 Loma Vista Street, a well-maintained 16-unit garden-style courtyard property located in the thriving city of Riverside, California. This property offers spacious one-bedroom, one-bath units averaging 740 square feet each, with a total of 11,890 square feet of rental space. The property sits on a spacious lot with strong curb appeal, featuring a well-manicured landscape. Recent upgrades include a newer roof, upgraded copper plumbing, updated electrical panels, and fresh exterior paint. Tenants enjoy a large open courtyard layout, creating a comfortable and appealing living environment. Additional amenities include onsite laundry facilities, tenant storage areas, and covered parking. Based on current rents, Loma Vista offers a new investor the potential to capture approximately 34.75% in upside rental income. This investment is located in Riverside, a city known for its robust real estate market and strong tenant demand. Riverside offers a wide range of amenities and a highly accessible location, with convenient transportation links, including the 91 and 215 Freeways. This makes Riverside ideal for renters working in the Inland Empire's major employment centers and educational institutions, such as UC Riverside and Riverside Community Hospital. Less than two miles from the property are popular attractions like the Mission Inn Hotel & Spa, as well as trendy restaurants such as The Salted Pig, Le Chat Noir French Restaurant, and Craftz Lounge. Residents can also enjoy cultural destinations like the Riverside Art Museum and live entertainment at the Fox Performing Arts Center. With a vibrant downtown, numerous parks, and excellent local schools, Riverside continues to attract a diverse tenant base, making this property a promising investment in a high-demand rental market.
Location
State CA
County Riverside
Area 252 - Riverside
Interior
Fireplace No
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 211162007
Special Listing Condition Standard
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Listed by Oscar Diaz • Marcus & Millichap
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