See all 35 photos
35 photos
REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$948,000
Est. payment /mo
7 Beds
4 Baths
0.33 Acres Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID P1-26538
Bedrooms 7
Lot Size 0.330 Acres
Property Sub-Type Res Income 2-4 Units
Property Description
RARE triplex investor opportunity in the heart of Riverside featuring strong in-place income and significant value-add potential. The property generates approximately $64,704 in current annual income, with projected upside of approximately $21,000 annually through a city-approved ADU plan, bringing total projected income to approximately $85,704 per year. Situated on two contiguous parcels totaling approximately 0.33 acres!The property has undergone extensive recent improvements, including a new roof, full unit rehabs completed in 2023, fresh exterior and interior paint, and completed termite work, offering a low-maintenance investment profile.Included with the sale are architect-prepared, city-approved plans for an ADU utilizing an existing detached garage, providing a lower-cost path to adding a fourth unit and increasing future income (buyer to verify).The property consists of three units with functional layouts, ample on-site parking, and one detached garage assigned to the larger unit. Tenants currently pay gas, electricity, and trash, while owner expenses are limited to water and landscaping, supporting favorable operating margins.Centrally located near University of California Riverside, Riverside City College, and major freeways (60, 91, 215).Ideal for investors seeking immediate cash flow with minimal deferred maintenance and clear upside through ADU development.Drive-by only. Please do not disturb tenants. Interior inspection subject to accepted offer.
Location
State CA
County Riverside
Zoning Assessor
Direction From the 91 Freeway, exit Adams St and head south. Turn left onto Indiana Ave, then right onto Monroe St. Continue and turn left
Interior
Heating Fireplace
Fireplace No
Exterior
View Y/N No
Building
Story 2
Level or Stories 2
Others
Senior Community No
Tax ID 211104018
Acceptable Financing Cash, Conventional, Exchange
Listing Terms Cash, Conventional, Exchange
Read Less Info
Listed by Meha Chopra, DRE#02187521 Douglas Elliman of Ca Inc
Nearby Locations
GET MORE INFORMATION