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Listing 3 out of 500
$977,000 Pending

1175 Villa Street
Riverside, CA 92507

8 units | Multi Family Home
14375 sq ft - MLS# TR19008915
Property Photo
1/22

Description

A Fantastic Investment Cash Flow property in Riverside, Highgrove Area. 1175 Villa St., 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 6.44%). Total Building size of 5,100 Rentable SF. and 14,375 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: 1190 Villa St., 411 Pacific Ave. 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: Pending
  • Zip Code: 92507
  • Year Built: 1950
  • Stories: One
  • Units: 8 units
  • # of Parking Spaces: 8.00
  • Lot Size: 14375 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: 5100.00
  • Building Area Units: Square Feet
  • Cap Rate: 5.25
  • Carport Spaces: 8.00
  • Co-Listing Agent License: 01440448
  • Co-Listing Office License: 01121690
  • Community Features: Sidewalks
  • Country: US
  • Directions: Iowa Avenue
  • Flooring: Tile
  • Gardener Expense: 1200.00
  • Gross Income: 79800.00
  • Gross Scheduled Income: 79800.00
  • Heating: Wall Heater
  • Heating YN: Yes
  • Insurance Expense: 2263.00
  • Laundry Features: See Remarks
  • Laundry YN: Yes
  • Listing Agent License: 01720786
  • Listing Office License: 01201689
  • Lot Features: Lot 10000-19999 Sqft
  • Lot Size Area: 14375.0000
  • Lot Size Source: Assessor
  • Lot Size Units: Square Feet
  • MLS: CRM
  • Maintenance Expense: 4661.00
  • Net Operating Income: 51328.00
  • New Taxes Expense: 9748.00
  • Number Of Buildings: 2
  • Number Of Separate Electric Meters: 8
  • Number Of Separate Gas Meters: 8
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 8
  • Operating Expense: 26078.00
  • Parking Features: Assigned
  • Parking YN: Yes
  • Roof: Composition
  • Security Features: Gated Community
  • Sewer: Conventional Septic
  • Total Expenses: 26078.00
  • Utilities: Electricity Available, Natural Gas Available, Phone Available
  • Water Sewer Expense: 4336.00
  • 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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