22 Unit Apartment Complex For Sale in Riverside

"Apartment Properties have historically been the least volatile of all commercial investments and the first commercial properties to recover when markets improve." (Realtor, Sept 2009 pg. 33)

Riverside, CA 92504- A charming 1968, 2 Story Building that is conveniently close to the 91 fwy while residing in a quite tree-lined residential neighborhood. This makes for a very unique investment opportunity because the rent demand is higher due to the living appeal of the neighborhood; while most other apartment complexes in this area are located in commercial or industrial locations. This 22 Unit Apartment Complex has an Elementary school just behind it, and a place of worship adjacent to property giving the neighborhood a pleasant, family friendly feel to it.

22 Unit Apartment Complex Information:

• 2 Freshly Painted studio Apartments          Actual Rent: $700/ea
  
• 14 Rehabbed 1bed/1bathroom units          Actual Rent: $750/ea
  
• 5 non-rehabbed 1bed/1bathroom units      Actual Rent: $800/ea
  
• 1 2bedroom 1 bathroom unit                      Actual Rent: $1,000
  
• Currently ONLY 3 vacancies

Tenants pay their own air conditioning, gas, electric and cable. Great, gated pool area and deck area, income producing laundry room, 14 carports and 8 open parking spaces as well as street parking. Building equipped with remote security cameras allowing you to monitor your investment 24 hours a day from the comfort of your home and or office.

Buyer to confirm the following, city in the process of installing new water pipes and gas meters on the street.  Please do not disturb occupants, drive by only.

For more detailed performance information on this property please do not hesitate to give us a call 909.227.2516 or contact us.

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