$14,000,000
3 Beds
3 Baths
46,834 Sq Ft
$299 Price per Sq Ft

Highlights

  • In Ground Pool
  • Cooling System Mounted To A Wall/Window
  • Wall Furnace
  • 1.52 Acre Lot
  • Laundry Room
  • 5-minute walk to Patterson Park

About This Home

We are pleased to present the exclusive opportunity to acquire 63 units across two contiguous parcels, consisting of the La Paz and Las Palmas Apartments. Located in the heart of Riverside, these assets offer a premier foothold in one of Southern California’s most high-demand rental markets. These well-maintained assets occupy a prime location at 2032 and 2052 Linden Street, offering tenants unparalleled convenience and a high-quality lifestyle. The properties are located just minutes from the vibrant Downtown Riverside district, the historic Mission Inn Hotel and Spa, and major educational anchors including Riverside City College, Cal Baptist University and the University of California, Riverside. Commuters benefit from immediate access to the Metrolink Downtown Riverside Station and a sophisticated regional transportation network. With proximity to the 91, 10, 60, and 215 freeways, the property serves as a central hub connecting residents to major employment centers across Riverside, San Bernardino, Orange, and Los Angeles Counties. The community offers a secure environment through gated entry and perimeter fencing, complemented by a suite of amenities including a community swimming pool, shared laundry facilities, and an outdoor BBQ area. The architecture is defined by a classic stucco and stone aesthetic, framed by lush, mature landscaping. Property infrastructure includes both covered and surface parking for resident convenience. Two-car garages are also available for lease, ideal for both parking and additional storage. Interior features include functional kitchens equipped with oven ranges, ceiling fans, vertical blinds, and a mix of tile or vinyl wood flooring. Each unit is further serviced by wall-mounted air conditioning and heating units. These stable, well-maintained assets provides immediate income security and remains a highly attractive destination for residents seeking quality housing in a well-established submarket. The portfolio’s proven performance and strategic location make it an ideal acquisition for a wide range of investors. Whether tailored for a first-time purchaser looking for scale, a seasoned institutional investor expanding a regional footprint, or a 1031 exchange buyer requiring a reliable, low-vacancy asset, these contiguous properties offer long-term stability and an exceptional foothold in the thriving Inland Empire economy.

Listing Agent

Eric Chen

CB RICHARD ELLIS Brokerage Phone: 626-757-5717 Listed on: 03/12/2026

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1959

Lot Details

  • 1.52 Acre Lot
  • Two or More Common Walls
  • 211151008

Parking

  • 20 Open Parking Spaces
  • 5 Car Garage
  • 25 Carport Spaces

Home Design

  • Apartment
  • Entry on the 1st floor

Interior Spaces

  • 46,834 Sq Ft Home
  • 2-Story Property
  • Laundry Room

Bedrooms and Bathrooms

  • 3 Bedrooms
  • 3 Bathrooms

Pool

  • In Ground Pool

Utilities

  • Cooling System Mounted To A Wall/Window
  • Wall Furnace

Listing and Financial Details

  • Assessor Parcel Number 211151009
  • $1,453 per year additional tax assessments

Community Details

Overview

  • 2 Buildings
  • 63 Units

Amenities

  • Laundry Facilities

Recreation

  • Community Pool

Building Details

  • 63 Leased Units
  • 63 Separate Electric Meters
  • 63 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $6,898
  • Fuel Expense $4,395
  • Gardener Expense $9,483
  • Insurance Expense $65,501
  • Maintenance Expense $47,250
  • Other Expense $12,600
  • Pest Control $2,604
  • Pool Expense $10,003
  • Professional Management Expense $76,328
  • Supplies Expense $7,335
  • Trash Expense $21,347
  • Water Sewer Expense $15,724
  • New Taxes Expense $157,857
  • Operating Expense $437,326
  • Gross Income $1,295,563
  • Net Operating Income $793,460

Property Details

Home Type

Multi-Family

Year Built

Built in 1959

Lot Details

1.52 Acres

Parking

5

Listing Details

  • CapRate: 5.67
  • Professional Management Expense: 76328.00
  • Property Attached: Yes
  • Supplies Expense: 7335.00
  • Water Sewer Expenses: 15724.00
  • Property Sub Type: Apartment
  • Property Type: Residential Income
  • Gardener Expense: 9483.00
  • Parcel Number: 211151009
  • Year Built: 1959
  • Special Features: None

Interior Features

  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Entry Level: 1
  • Levels: Two
  • Price Per Square Foot: 298.93

Exterior Features

  • Pool Expense: 10003.00
  • Pool Features: In Ground, Community
  • Pool Private: No
  • Spa: No

Garage/Parking

  • Carport Spaces: 25.00
  • Garage Spaces: 5.00
  • Total Parking Spaces: 50.00
  • Uncovered Spaces: 20.00

Utilities

  • Heating: Yes
  • Laundry: Yes
  • Heating Type: Wall Furnace
  • Laundry Features: Common Area
  • Pest Control Expense: 2604.00
  • Sewer: Public Sewer
  • Trash Expense: 21347.00
  • Water Source: Public
  • Cooling: Wall/Window Unit(s)
  • Cooling: Yes

Condo/Co-op/Association

  • Senior Community: No
  • Common Interest: Community Apartment
  • Community Features: Curbs, Sidewalks

Lot Info

  • Additional Parcels: Yes
  • Additional Parcels Description: 211151008
  • Land Lease: No
  • Lot Features: Lot Over 40000 Sqft
  • Lot Size Sq Ft: 66211.00
  • Lot Size Acres: 1.5200

Multi Family

  • Electric Expense: 6898.00
  • Fuel Expense: 4395.00
  • Garage Income: 7757.00
  • Gross Income: 1295563.00
  • Gross Multiplier: 10.81
  • Gross Operating Income: 1230785.00
  • Gross Scheduled Income: 1295563.00
  • Insurance Expense: 65501.00
  • Laundry Income: 13941.00
  • Lot Size Area: 66211.0000 Square Feet
  • Maintenance Expense: 47250.00
  • Net Operating Income: 793460.00
  • Number Of Separate Electric Meters: 63
  • Number Of Separate Gas Meters: 63
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 63
  • Number Of Units Total: 63
  • Operating Expense: 437326.00
  • Other Expense: 12600.00
  • Other Expense Description: Reserves
  • Other Income1: 7926.00
  • Other Income2: 27648.00
  • Rent Control: No
  • Total Actual Rent: 1238292.00
  • Total Expenses: 437326.00

Tax Info

  • New Taxes Expense: 157857.00
  • Tax Census Tract: 030503
  • TaxOtherAnnualAssessmentAmount: 1453.00

Map

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $48,849 $4,409,083 $499,504 $3,909,579
2023 $48,849 $4,237,874 $480,108 $3,757,766
2022 $47,764 $4,154,780 $470,695 $3,684,085
2021 $46,991 $4,073,315 $461,466 $3,611,849
2020 $46,643 $4,031,549 $456,735 $3,574,814
2019 $45,781 $3,952,500 $447,780 $3,504,720
2018 $44,906 $3,882,750 $439,000 $3,443,750
2017 $21,566 $1,794,417 $415,066 $1,379,351
2016 $20,251 $1,759,385 $406,928 $1,352,457
2015 $19,977 $1,733,075 $400,816 $1,332,259
2014 $19,909 $1,699,279 $392,965 $1,306,314
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
03/12/2026 03/12/26 For Sale $14,000,000 0.0% $299 / Sq Ft
03/04/2026 03/04/26 Off Market $1,600 -- --
11/15/2025 11/15/25 Price Changed $1,600 0.0% $2 / Sq Ft
11/12/2025 11/12/25 For Rent $1,600 -- --
Source: California Regional Multiple Listing Service (CRMLS)

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: CV26053930

California Regional Multiple Listing Service (CRMLS)

APN: 211-151-009

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