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Listed by Kristopher German • RE/MAX 2000 REALTY
$950,000
Est. payment /mo
2,210 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Square Footage 2,210 sqft
Price per Sqft $429
MLS Listing ID CV-25102575
Year Built 1941
Lot Size 7,840 Sqft
Property Sub-Type Apartment
Property Description
Just listed and ideally located just minutes from Downtown Riverside, this well-maintained four-unit multifamily property offers investors immediate cash-flow with a strong **7.17% CAP Rate** and a **10.75 GRM**. The building features an ideal and versatile unit mix, including one 2-Bedroom/1-Bath two-story Townhouse, one 2-Bedroom/1-Bath flat, one 1-Bedroom/1-Bath unit, and a Studio apartment--providing a diverse range of rental options for prospective tenants. The property offers 2,210 square feet of rental space on a 7,840 square foot lot and is separately metered for electricity and gas, ensuring streamlined utility management. Tenants enjoy convenient amenities such as garage parking for each unit and access to an onsite laundry facility, enhancing tenant satisfaction and long-term retention. The owner is in the process of updating the electrical sub-panels as well as the roof on the front structure. With its strong in-place income, solid unit mix, and highly desirable location near shops, restaurants, and transit in Downtown Riverside, this is a rare opportunity for both new and experienced investors seeking a stabilized asset with immediate returns and long-term upside. This property can be purchased together with the adjoining 4-unit property at **4228 10th Street**, offering a rare chance to acquire 8 total units side by side. This is an excellent opportunity for investors looking to expand their portfolio with a desirable asset in a strong rental market.
Location
State CA
County Riverside
Area 252 - Riverside
Zoning R1065
Interior
Cooling Wall/Window Unit(s)
Fireplaces Type None
Laundry Common Area
Exterior
Parking Features Assigned
Garage Spaces 4.0
Pool None
Community Features Sidewalks, Street Lights
Utilities Available Sewer Available, Water Available, Electricity Available, Natural Gas Available
View Y/N No
View None
Building
Lot Description 0-1 Unit/Acre
Sewer Public Sewer
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Naghmeh Keyvani
Broker Associate | License ID: DRE# 02091823
Broker Associate License ID: DRE# 02091823