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Listing 10 out of 500
$1,500,000 For Sale

411 Pacific Avenue
Riverside, CA 92507

12 units | Multi Family Home
16117 sq ft - MLS# TR19008893
Property Photo
1/27

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.

Features

  • Property Type: Multi Family Home
  • Sub Type: Multi Family Home
  • Listing Status: Active
  • Zip Code: 92507
  • Year Built: 1943
  • Stories: One
  • Units: 12 units
  • # of Parking Spaces: 15.00
  • Lot Size: 16117 sq ft
  • View: Mountain, Yes
  • Zoning: R-2
  • Area: 252 - Riverside
  • Appliances: Gas Stove, Gas Water Heater
  • Appliances YN: Yes
  • Average 1 Bed Area: 600
  • Average 2 Bed Area: 750
  • Average 2 Bed Area Units: Square Feet
  • Average 3 Bed Area Units: Square Feet
  • Average Studio Area Units: Square Feet
  • Building Area Total: 8372.00
  • Building Area Units: Square Feet
  • Cap Rate: 5.23
  • Carport Spaces: 15.00
  • Co-Listing Agent License: 01440448
  • Co-Listing Office License: 01121690
  • Community Features: Sidewalks
  • Country: US
  • Directions: Iowa Avenue
  • Electric Expense: 697.00
  • Flooring: Tile
  • Gardener Expense: 1200.00
  • Gross Income: 126900.00
  • Gross Multiplier: 11.82
  • Gross Scheduled Income: 126900.00
  • Heating: Wall Heater
  • Heating YN: Yes
  • Insurance Expense: 3395.00
  • Laundry Features: See Remarks
  • Laundry YN: Yes
  • Listing Agent License: 01720786
  • Listing Office License: 01201689
  • Lot Features: Lot 10000-19999 Sqft
  • Lot Size Area: 16117.0000
  • Lot Size Source: Assessor
  • Lot Size Units: Square Feet
  • MLS: CRM
  • Maintenance Expense: 8766.00
  • Net Operating Income: 78458.00
  • New Taxes Expense: 15149.00
  • Number Of Buildings: 2
  • Number Of Separate Electric Meters: 13
  • Number Of Separate Gas Meters: 12
  • Number Of Separate Water Meters: 3
  • Number Of Units Leased: 12
  • Operating Expense: 44635.00
  • Parking Features: Assigned, Carport Detached
  • Parking YN: Yes
  • Roof: Composition
  • Security Features: Gated Community
  • Sewer: Conventional Septic
  • Total Expenses: 44635.00
  • Utilities: Electricity Available, Natural Gas Available, Phone Available
  • Water Sewer Expense: 9274.00
  • Water Source: Public
  • Year Built Source: Assessor
Courtesy of Coldwell Banker George Realty, Kevin Lee



Choumas & Associates | 909-821-7133 | Email Us 
Candi Choumas CalBRE #01177993
Ashley Choumas CalBRE #01892987

2790 Cabot Drive #4-130 - Corona, CA 92883
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