2029 Patterson Street, Riverside, CA 92507

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Glen Henderson

[email protected] +1(619) 889-7646

$1,169,000

Est. payment - /mo

7 Beds

6 Baths

0.3 Acres Lot

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Key Details

Property Type Multi-Family

Sub Type Res Income 2-4 Units

Listing Status Active

Purchase Type For Sale

MLS Listing ID DW25074095

Bedrooms 7

HOA Y/N No

Lot Size 0.300 Acres

Property Sub-Type Res Income 2-4 Units

Type of Financing Cash,Conventional,FHA,VA

Property Description

This property presents itself as an exceptional opportunity in Riversides thriving real estate market, offering a rare combination of immediate income and long-term growth potential. Whether you're an experienced investor or a savvy homebuyer looking to make a smart move, this multi-unit property has everything you need to succeed. With its prime location, strong rental history, and future expansion possibilities, its an opportunity you wont want to miss. The property features three distinct units, each offering its own unique appeal. One standout is the brand-new, detached unita spacious 3-bedroom, 2.5-bathroom home with a 2-car garage, separate utilities, and separate address. This newly constructed 1,199 sqft home provides the perfect blend of comfort and independence, making it ideal for a homeowner or tenant. The other two units have been recently remodeled, with one offering a 3-bedroom, 2-bathroom layout and the other a 1-bedroom, 1-bathroom unit. Both are well-maintained and thoughtfully updated, featuring a 6 year old roof, PEX Plumbing, an updated Dual Electric Panel, and a Brand new Gas line. Both units offer a mix of spaciousness and charm. The two occupied units share utilities, providing efficiency while maintaining privacy for each tenant. Set on a generous **13,068 sqft lot**, this property offers a wealth of potential for further growth and to potentially build more units. With a **cap rate of 7.64%**, the property already offers strong returns, but the possibility of increasing income through development makes it an even more exciting investment. Riverside
This property presents itself as an exceptional opportunity in Riversides thriving real estate market, offering a rare combination of immediate income and long-term growth potential. Whether you're an experienced investor or a savvy homebuyer looking to make a smart move, this multi-unit property has everything you need to succeed. With its prime location, strong rental history, and future expansion possibilities, its an opportunity you wont want to miss. The property features three distinct units, each offering its own unique appeal. One standout is the brand-new, detached unita spacious 3-bedroom, 2.5-bathroom home with a 2-car garage, separate utilities, and separate address. This newly constructed 1,199 sqft home provides the perfect blend of comfort and independence, making it ideal for a homeowner or tenant. The other two units have been recently remodeled, with one offering a 3-bedroom, 2-bathroom layout and the other a 1-bedroom, 1-bathroom unit. Both are well-maintained and thoughtfully updated, featuring a 6 year old roof, PEX Plumbing, an updated Dual Electric Panel, and a Brand new Gas line. Both units offer a mix of spaciousness and charm. The two occupied units share utilities, providing efficiency while maintaining privacy for each tenant. Set on a generous **13,068 sqft lot**, this property offers a wealth of potential for further growth and to potentially build more units. With a **cap rate of 7.64%**, the property already offers strong returns, but the possibility of increasing income through development makes it an even more exciting investment. Riversides location adds another layer of appeal. Just minutes from the 91 and 215 freeways, as well as the vibrant Downtown Riverside, this property offers easy access to major commuter routes, shopping, dining, and entertainment. With local institutions like Riverside City College, UC Riverside, and California Baptist University nearby, demand for rental properties in this area is only expected to increase, making this an even more enticing opportunity. Whether youre looking for a home with income-generating potential or an investment property with substantial upside, this Riverside gem has it all. With a combination of prime location, solid cash flow, and exciting future prospects, this opportunity wont last long. Make your move today and seize the chance to be a part of Riversides flourishing real estate market.*Grass was added onto the images virtually to enhance the property images*

Location

State CA

County Riverside

Area Riv Cty-Riverside (92507)

Zoning Assessor

Interior

Cooling Central Forced Air

Air Conditioning Central Forced Air

Exterior

Parking Features Unit1:Assigned

Building

Lot Description Sidewalks

Story 2

Level or Stories 2 Story

Others

Monthly Total Fees $5

Acceptable Financing Cash, Conventional, FHA, VA

Space Rent $1,950

Listing Terms Cash, Conventional, FHA, VA

CFD/Mello-Roos Fee $65

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Listed by Gerardo Garcia Macias • Pak Home Realty

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Glen Henderson

+1(619) 889-7646

Broker Associate | CA BRE #01384181

Broker Associate CA BRE #01384181

San Diego Communities

2029 Patterson Street Riverside, CA 92507

Glen Henderson

Key Details

Location

Interior

Exterior

Building

Others

Get More Information