1806 Loma Vista St, Riverside, CA 92507 – 24-468157

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$3,150,000

Est. payment - /mo

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16 BD

16 BA

11,895 SqFt

Active

1806 Loma Vista St Riverside, CA 92507

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Norma Mardelli

norma@mardellirealestate.com +1(818) 400-3794

UPDATED:

12/10/2024 07:01 AM

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 11,895 sqft

Price per Sqft $264

MLS Listing ID 24-468157

Bedrooms 16

Year Built 1959

Lot Size 0.430 Acres

Acres 0.43

Property Description

We are pleased to present 1806 Loma Vista Street, a well-maintained 16-unit garden-style courtyard property located in the thriving city of Riverside, California. This property offers spacious one-bedroom, one-bath units averaging 740 square feet each, with a total of 11,890 square feet of rental space. The property sits on a spacious lot with strong curb appeal, featuring a well-manicured landscape. Recent upgrades include a newer roof, upgraded copper plumbing, updated electrical panels, and fresh exterior paint. Tenants enjoy a large open courtyard layout, creating a comfortable and appealing living environment. Additional amenities include onsite laundry facilities, tenant storage areas, and covered parking. Based on current rents, Loma Vista offers a new investor the potential to capture approximately 34.75% in upside rental income. This investment is located in Riverside, a city known for its robust real estate market and strong tenant demand. Riverside offers a wide range of amenities and a highly accessible location, with convenient transportation links, including the 91 and 215 Freeways. This makes Riverside ideal for renters working in the Inland Empire's major employment centers and educational institutions, such as UC Riverside and Riverside Community Hospital. Less than two miles from the property are popular attractions like the Mission Inn Hotel & Spa, as well as trendy restaurants such as The Salted Pig, Le Chat Noir French Restaurant, and Craftz Lounge. Residents can also enjoy cultural destinations like the Riverside Art Museum and live entertainment at the Fox Performing Arts Center. With a vibrant downtown, numerous parks, and excellent local schools, Riverside continues to attract a diverse tenant base, making this property a promising investment in a high-demand rental market.

Location

State CA

County Riverside

Area Riverside

Rooms

Other Rooms None

Interior

Heating Other

Cooling Other

Equipment Other

Exterior

Parking Features Other

Building

Story 2

Level or Stories Two

Others

Special Listing Condition Standard

The multiple listings information is provided by The MLSTM/CLAW from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2024 The MLSTM/CLAW. All Rights Reserved.

The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.

Listed by Marcus & Millichap