850 Prescott Way

    Riverside, CA 92507
    • $700,000
    • STATUS: Active Under Contract
    • ON SITE: 37 days
    • ID#: CV18265304
    Under Contract
    UPDATED: 30 min ago
    $700,000
    • 0
      BEDS
    • 0.15
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 3,100
      SQFT
    • $226
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1966
    County:

    School Ratings & Info

    Description

    We are pleased to present a single story, four-unit multifamily investment located in the University submarket of Riverside, California. This offering presents the opportunity for investors to acquire a well-maintained building in one of the most desirable submarkets in the Inland Empire.The subject property consists of one hundred percent, 2BR/1BA units with over 750 square feet per unit. Amenities include garages, enclosed patios, on-site laundry, and privacy provided to tenants. Recent improvements include new roofs as well as interior upgrades for all units with upside of 39% in net operating income. There is always an overwhelming demand for rentals in the area, as it caters to the student population as well as to families and working professionals alike. With favorable terms currently available, upside potential, and the high demand for this submarket area, the subject property presents investors a rare opportunity to acquire a multi-family asset in a prime location which can be converted to student housing at much higher rental rates in the near future.

    Monthly Payment Calculator



    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-12-10T07:26:46.967. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
    www.teamforss.com/homes/89119337

    850 Prescott Way Riverside, CA 92507

    • Price: $700,000
    • Status: Active Under Contract
    • Updated: 30 min ago
    • ID#: CV18265304
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.15
    Acres
    3,100
    SQFT
    $226
    $/SQFT
    1966
    Built
    Neighborhood:
    252 - Riverside
    County:
    Riverside
    Area:
    252 - Riverside
    Property Description
    We are pleased to present a single story, four-unit multifamily investment located in the University submarket of Riverside, California. This offering presents the opportunity for investors to acquire a well-maintained building in one of the most desirable submarkets in the Inland Empire.The subject property consists of one hundred percent, 2BR/1BA units with over 750 square feet per unit. Amenities include garages, enclosed patios, on-site laundry, and privacy provided to tenants. Recent improvements include new roofs as well as interior upgrades for all units with upside of 39% in net operating income. There is always an overwhelming demand for rentals in the area, as it caters to the student population as well as to families and working professionals alike. With favorable terms currently available, upside potential, and the high demand for this submarket area, the subject property presents investors a rare opportunity to acquire a multi-family asset in a prime location which can be converted to student housing at much higher rental rates in the near future.
    Exterior Features

    Garage Spaces 4.00 Lot Features 26-30 Units/Acre Lot Size Source Assessor Lot Size Units Acres Parking Features AssignedGarage - Rear EntryStreet Parking Total 4.00 Pool Features None Pool Private YN No Property Attached YN Yes

    Interior Features

    Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area 768 Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls 2+ Common WallsNo One AboveNo One Below Laundry Features CommunityIndividual Room Levels One

    Property Features

    Additional Parcels YN No Association Fee 0.00 Association YN No Building Area Units Square Feet Community Features SidewalksStreet Lighting Country Us Electric Expense 200.00 Elevation Units Feet Fuel Expense 151.00 Gross Income 47100.00 Gross Scheduled Income 46380.00 Insurance Expense 964.00 Land Lease YN No Laundry Income 720.00 Laundry YN Yes Net Operating Income 30532.00 New Construction YN No New Taxes Expense 8499.00 Number Of Separate Electric Meters 4 Number Of Separate Gas Meters 4 Number Of Separate Water Meters 2 Operating Expense 15177.00 Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Tenant Pays ElectricityGas Total Expenses 15177.00 Trash Expense 638.00 Water Sewer Expense 1000.00 Water Source Public Zoning R3

    Listing provided courtesy of Sean Hwangbo of Realty One Group, Inc..


    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-12-10T07:26:46.967. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
     
    Allison James Estates and Homes
    31213 Temecula Parkway
    Temecula CA, 92592