4581 Main St Riverside, CA 92501
Downtown Riverside NeighborhoodEstimated payment $23,951/month
About This Home
We are pleased to present 4545-4581 Main Street, a 14-unit multifamily investment opportunity located near Downtown Riverside. Just off Magnolia Avenue and 14th Street, the property spans three contiguous parcels totaling 34,412 square feet and consists of five separate buildings, including a standalone 3-bed/2-bath home, three duplexes, and one 7-unit structure. Nearly all units are single-story, offering tenants a comfortable, residential feel in a walkable, well-connected location. The unit mix includes one 3-bed/2-bath home, six 2-bed/1-bath units, six 1-bed/1-bath units, and one studio. Tenants benefit from mini-split A/C systems, 22 on-site parking spaces, on-site laundry, and newer roofs key features that support tenant satisfaction and long-term stability. Additional stand-alone garages offer rental income potential as storage units, along with two owner's rooms that may be convertible to garages or ADUs (buyer to verify feasibility). The asset is currently operating at a 6.06% cap rate and 11.31 GIM, with in-place income and modest upside through future rent increases. Located steps from Riverside City College and minutes from UC Riverside, the property is surrounded by retail, employment centers, and Riverside's most notable attractions including the Mission Inn Hotel, Cheech Marin Center, and Mount Rubidoux Park. With strong fundamentals and a desirable unit mix, this offering presents a rare opportunity for investors seeking stable cash flow in one of the city's most proven rental markets.
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1950
Lot Details
- 0.79 Acre Lot
Interior Spaces
- 9,200 Sq Ft Home
- 2-Story Property
Community Details
- 14 Units
Listing and Financial Details
- Assessor Parcel Number 219-031-006
Map
Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 04/30/2025 04/30/25 | For Sale | $3,645,000 | -- | $396 / Sq Ft |
Source: The MLS
MLS Number: 25532145
APN: 219-031-006
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