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$ 1,800,000
Est. payment /mo
New
421 Devener Riverside, CA 92507
4 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 CV26019708
Bedrooms 4
Lot Size 0.330 Acres
Property Sub-Type Res Income 2-4 Units
Property Description
Pleased to exclusively present the opportunity to acquire two side-by-side 4-plex apartment buildings built in 1966 with 5,712 rentable square feet on a 0.33 acre contiguous lot in the City of Riverside. This offering totals eight units and features a highly functional mix of one and two bedroom floor plans. Ideally positioned with convenient access to the I-10, I-215, SR-60, and SR-91 freeways, the property offers residents excellent regional connectivity throughout the Inland Empire. The buildings are equipped with two on-site laundry facilities, wall-mounted air conditioner & heater units. Each unit is individually metered for gas and electricity & have individual hot water heaters. Parking consists of 11 open parking spaces. The property is on septic, with new tank installed in 2025. The electrical panels were also recently updated. The asset presents a value-add opportunity, with the ability to enhance cash flow through rent growth. Additionally, qualified buyers may benefit from the potential availability of 30-year fixed-rate financing, a significant advantage for investors seeking stable, long-term returns on small-balance multifamily assets. Riverside offers a strong and affordable investment backdrop anchored by steady job growth and a diversified employment base. The city is home to University of California, Riverside and benefits from a large public-sector presence tied to Riverside County, healthcare, education, and logistics. Compared to coastal Southern California markets, Riverside remains relatively affordable, supporting continued in-migration and sustaine
Location
State CA
County Riverside
Zoning Public Rec
Direction 421 & 427 Devener Street, Two side-by-side 4-plex apartment buildings
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 2
Level or Stories 2
Others
Senior Community No
Tax ID 247081007
Acceptable Financing Cash
Listing Terms Cash
Listed by Douglas McCauley MARCUS & MILLICHAP