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411 Pacific Avenue, Riverside, CA, 92507

Riverside, 411 Pacific Avenue

$1,500,000

  • 0
  • 15
Listing Number: TR19008893
About this listing
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.
Property Information
  • Lot Size
    • Land Area Acres: 0.370000000000
  • Approx year built: 1943
  • Property Type: Other
  • Additional
    • Aged Community (Y/N): No
  • Property Features
    • Septic Sewer: Conventional Septic
    • Zoning: R-2
    • Water Source: Public
    • Pool (Y/N): No
    • MLS Area: Riverside
    • Stories: One
    • Gas: 12
    • Laundry: See Remarks
    • Parking: Assigned, Carport Detached
    • Lot Desc: Lot 10000-19999 Sqft
    • Unit Total: 12
    • Home Owners Assoc Fee: 0
    • Pool: None
    • Heating: Wall Heater
    • Utilities: Electricity Available,Natural Gas Available,Phone Available
    • Security System: Gated Community
    • Appliances: Gas Stove,Gas Water Heater
    • Floors Description: Tile
    • Roof: Composition
    • APN No: 247102007
    • Has View: Yes
  • Address
    • County: Riverside
    • Directions: Iowa Avenue
    • Street Zip 4: 1341
    • Property Location: Riverside
Courtesy Of
Kevin Lee
Coldwell Banker George Realty
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