$3,150,000

Estimated payment $20,281/month

Total Views 23,868
16 Beds
16 Baths
11,895 Sq Ft
$265 Price per Sq Ft

About This Home

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.

Listing Agent

Oscar Diaz

Marcus & Millichap License #02022902 Listed on: 12/02/2024

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1959

Lot Details

  • 0.43 Acre Lot

Interior Spaces

  • 11,895 Sq Ft Home
  • 2-Story Property

Bedrooms and Bathrooms

  • 16 Bedrooms
  • 16 Bathrooms

Community Details

  • 16 Units

Listing and Financial Details

  • Assessor Parcel Number 211-162-007

Property Details

Home Type

Multi-Family

Year Built

Built in 1959

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Levels: Two
  • Street Number Display: Yes
  • Living Area: 11895
  • Lot Acreage: 0.4300
  • Stories: 2
  • Year Built: 1959
  • Number Of Photos: 12
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Bedrooms: 16
  • Total Bathrooms: 16.00
  • Price Per S Q F T: 264.82

Exterior Features

  • Other Structures: None

Lot Info

  • Assessed Improvement Percent: 71.79
  • Assessed Improvement Value: 632142
  • Assessed Land Percent: 28.21
  • Assessed Land Value: 248350
  • Total Assessed Value: 880492
  • Assessor Parcel Number: 211-162-007
  • Lot Size Area: 18731

Multi Family

  • Unit Type: 2106
  • Gross Rent Multiplier: 13.04
  • Number Of Units: 16
  • Total Annual Expense: 93986
  • Type Of Units: 0
  • Vacancy Rate: 0

Map

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price Change Sq Ft Price
12/02/2024 12/02/24 For Sale $3,150,000 -- $265 / Sq Ft
Source: The MLS

Source: The MLS

MLS Number: 24-468157

The MLS

APN: 211-162-007