$679,000

2944 6th Street

Riverside CA, 92507

Description

BACK ON THE MARKET! A Great Investment Cash Flow property in downtown Riverside! The numbers are incredible, great Income! Centrally located near freeways and Metro Link trans. Close proximity to restaurants, Parks and The Missions Inn Hotel. Lots of newer construction and development in this area. Property great to rent to Faith Based Organizations or Recovery Home Businesses. This 11 unit income property is situated right off University near the 91. The larger unit in rear is allowed by city FOR SINGLE RESIDENT OCCUPANCY(SRO) due to grandfathered clause as a SRO dwelling and has a newer roof about 6 years old.GREAT MONEY MAKER. This property offers front house, a 2nd structure for storage and a 3rd larger Structure rear unit that houses 9 studio Dorm style bedrooms with a common kitchen. Front house 2 bedrooms 1 bath. Currently rented. Studio at rear of main house with kitchen also rented. Coin laundry room with outside access for all tenants. Behind front house are 2 more bldgs. 1st bldg can be used for storage, office or game room. Other bldg has 9 bunk/dorm style bedrooms with common bathroom and kitchen. All 9 rooms have a closet space. Dorm #9 is much larger at rear with separate entry. These bunk studios share a bathroom,separate shower room with laundry sink and small Kitchen. Dorm / Bunk units rented on average at $500 each. Currently owner pays for all utilities except for the main house. New Security Camera system in place. Parking on driveway.

Details

MLS#CV20189858
Listing TypeFor Sale
Sub-TypeResale
StatusActive
Year1915
Days On Site81

Features

SQ Feet3,600
Units11
Building(s)1

Market Activity 92507

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Area Information
StateCA
CountyRiverside
CityRiverside
Zip Code92507
Area252 - Riverside
Listing VS Median (in 92507)
Price:
$679,000
low | high
Med:
$425,000
87.40795287187% of Average
SqFt:
3,600
low | high
Med:
1,424
100% of Average
$ / SqFt:
$189
low | high
Med:
$298
8.238321391339% of Average
On Site:
81
low | high
Med:
10
100% of Average
Listing Updated: December 4, 2020 5:10:26 AM PST
FERNANDO REZA LogoMLS Number: CV20189858
Listing Provided By:
FERNANDO REZA  of  KELLER WILLIAMS COVINA
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