1806 Loma Vista st, Riverside, CA 92507
Active
$3,150,000
16 Units
16 Beds
16 Baths
11,895 Area(sq.ft.)
Lot: 18,731 Lot Size(sq.ft.)
| Type | # of Units | Bedroom | Bath | Furnished | Rent | Actual Rent | Projected Rent |
|---|---|---|---|---|---|---|---|
| Unit 1 | 16 | 1 | 1 | No | $ 1,258 | $ 20,127 | $ 1,695 |
| 16 | 16 | 16 | $ 20,128 | $ 322,032 | $ 27,120 |
| MLS #: | 24-468157 |
| Days On Market: | 369 |
| Listing Date: | December 2, 2024 |
| County: | Riverside |
| Property Type: | Residential Income |
| Price per ft2: | $ 265 |
| Price per unit: | $ 196,875 |
| Year Built: | 1959 |
Property Details
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.Interested in this Listing?
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Income Details
| Gross Operating Income: | $ 234,277 |
| Total Annual Expense: | $ 93,986 |
| Net Operating Income: | $ 145,091 |
| Gross Annual Income: | $ 234,277 |
| Gross Rent Multiplier: | 13.04 |
Structure
| Type of Units: | 0 |
| Buildings: | 1 |
| Levels: | Two |
Land & Parking
| Parking Garage: | Other |
Interior
| AC/Cooling: | Other |
| Equipment: | Other |
| Heating: | Other |
Exterior
Detailed Map
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