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$2,100,000
Est. payment /mo
5 Beds
4 Baths
0.32 Acres Lot
UPDATED:
12/08/2024 06:12 AM
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID PW24239554
Bedrooms 5
HOA Y/N No
Lot Size 0.320 Acres
Property Description
22869-22877 Adrienne Ave. Well maintained 12 units with center courtyard. Located in great rental area. Always rented and always full. Excellent unix mix of one, two, and three bedrooms. 4.89% cap rate on existing rents. Gated parking in the rear of the property. Seller increasing rents to bring 2025 income to $147,092 and cap rate to 5.2%. One 3 bedroom unit rented to the on-site manager at a reduced rate. Proforma income of $156,692 could be obtained by self-managing property. Close to Cottonwood Golf Center, 99 Cents Store, TJ Maxx, BJ's Restaurant, Chili Grill, Ross, Banks and Moreno Valley Mall.
22869-22877 Adrienne Ave. Well maintained 12 units with center courtyard. Located in great rental area. Always rented and always full. Excellent unix mix of one, two, and three bedrooms. 4.89% cap rate on existing rents. Gated parking in the rear of the property. Seller increasing rents to bring 2025 income to $147,092 and cap rate to 5.2%. One 3 bedroom unit rented to the on-site manager at a reduced rate. Proforma income of $156,692 could be obtained by self-managing property. Close to Cottonwood Golf Center, 99 Cents Store, TJ Maxx, BJ's Restaurant, Chili Grill, Ross, Banks and Moreno Valley Mall.
22869-22877 Adrienne Ave. Well maintained 12 units with center courtyard. Located in great rental area. Always rented and always full. Excellent unix mix of one, two, and three bedrooms. 4.89% cap rate on existing rents. Gated parking in the rear of the property. Seller increasing rents to bring 2025 income to $147,092 and cap rate to 5.2%. One 3 bedroom unit rented to the on-site manager at a reduced rate. Proforma income of $156,692 could be obtained by self-managing property. Close to Cottonwood Golf Center, 99 Cents Store, TJ Maxx, BJ's Restaurant, Chili Grill, Ross, Banks and Moreno Valley Mall.
Location
State CA
County Riverside
Area Riv Cty-Moreno Valley (92553)
Zoning Assessor
Interior
Cooling Wall/Window
Exterior
Exterior Feature Stucco
Building
Lot Description Curbs, Sidewalks
Story 2
Sewer Sewer Connected
Level or Stories 2 Story
Others
Monthly Total Fees $140
Acceptable Financing Cash, Conventional
Space Rent $875
Listing Terms Cash, Conventional
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Listed by Michael Lembeck • Citivest Realty Services, Inc
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