MarketPier

1190 Villa Street - Riverside, CA 92507

$1,330,000
Listing Description

A Fantastic Investment Cash Flow property in Riverside, Highgrove Area. 1190 Villa St., Riverside is an 10-Unit Apartment Complex, comprised of 2 structures. Very attractive unit mix with 4 unit 8211; 2 Bedroom, 6 units 8211; 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 6.50%). Corner Lot, with a total Building size of 6,224 Rentable SF. and 18,295 SF. Lot Size. Large Courtyard. All units are individually metered for electricity and gas. 10 individual water heaters. Assigned 10 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. 13; Adjacent properties: 1175 Villa St., 411 Pacific Ave. and 412 Glen Ave. are also for sale. All properties can be purchased together or separately.

Listing Information
MLS Number
TR19008930
APN/Parcel ID
247105001
Type
Multifamily
Sub Type
Multifamily
Building Size
6,224 sqft
Lot Size
18,295 sqft
Price / SQFT
$214
No Units
10
Price / Unit
$133,000
Gross Scheduled Income
$105,600
Expenses
$32,575
Total Expenses
$32,575
Net Income
$69,857
Rent Multiplier
12.6
Cap Rate
5.25%
Listing Date
1/11/2019
Days Active
4
Last Updated
1/16/2019
Listing Provided By
Kevin Lee
Coldwell Banker George Realty
BRE# 01720786

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