1806 Loma Vista St - Apartments FOR SALE


Riverside, CA 92507
$3,150,000 USD
213-943-1839
1806 Loma Vista St, Riverside, CA for Sale
$3,150,000 USD
Apartments - FOR SALE
1/12
null | 4.61% Cap Rate

1806 Loma Vista St
Riverside, CA 92507


HIGHLIGHTS

  • 16 one-bedroom/one-bath units, each averaging 740 sq. ft., providing spacious living for tenants.
  • The property’s current rental rates present a significant opportunity for growth, with approximately 34.75% in rental upside.
  • Featuring a garden-style courtyard with well-manicured landscaping, newer roof, includes a laundry room, tenant storage, and open space parking.

OVERVIEW

Marcus & Millichap is 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.

FOR SALE DETAILS

PRICE

$3,150,000 USD

PRICE/SF

$265 USD /SF

# OF UNITS

16

PRICE/UNIT

$196,875

CAP RATE

4.61%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1959

PARKING SPACES

18

LAND DETAILS

LAND ACRES

0.43 AC

LAND SF

18,731 SF

ZONING

-

APN/PARCEL ID

211-162-007

ASK ABOUT THIS PROPERTY

Sebastian DiazMarcus & MillichapMore Info
213-943-1839

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Sebastian DiazMarcus & MillichapMore Info
213-943-1839

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.